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Linear Low Density Polyethylene Market to showcase significant growth over 2019 – 2024; Reliance Industries, LyondeBassells Industries N.V., The Dow Chemical Company, Nova Chemicals Corporation are leading players

Author : Rahul Varpe | Published Date : 2019-04-11 

Global Market Insights provides a detailed overview of Linear Low Density Polyethylene market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Linear Low Density Polyethylene market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Linear low density polyethylene (LLDPE) market will grow at a moderate rate in the forecast period. The growth being attributed to vigorous increase in automotive, retail packaging, consumer goods and agriculture industries. In Europe, the market will register CAGR above 5% by 2024, due to technological advancements coupled with rapid industrialization.

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Linear Low Density Polyethylene Market is projected to exceed USD 60 billion according to this new research report.

Key participants in the global Linear Low Density Polyethylene market are:

  • Reliance Industries
  • LyondeBassells Industries N.V.
  • The Dow Chemical Company
  • Nova Chemicals Corporation
  • Saudi Basic Industries Corporation (SABIC)
  • China Petroleum & Chemical Corporation (Sinopec Corporation)
  • INEOS Group AG
  • CNPC
  • Exxon Mobil Corporation
  • Borealis AG
  • Sasol Limited
  • Mitsui and Westlake
  • Mitsubishi Chemicals
  • Chevron Phillips Chemical Company LLC
  • Braskem S.A.

Asia Pacific is estimated to be the largest share observer for Linear Low Density Polyethylene Market in 2024. Robust industrialization in the region due to thriving textiles, oil & natural gas, automobiles, manufacturing and electronics industries in the regional economies will encourage the construction spending and will boost market growth. Rapidly expanding Indian e-commerce and organized retailing will also contribute to the market growth. Malaysia and Thailand are strengthening the packaging industry which will consequently increase the regional product consumption.

North America will have a share over USD 7.5 billion by 2024. The regional market is led by U.S., having an established web of pharmaceutical companies. These will need LLDPE films for medical packaging. The construction spending in U.S. is predicted to grow over 6% CAGR by 2024 particularly due to its infrastructural development.

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Global packaging market is probable to surpass USD 1 trillion in forecast period, being driven by the paper & board sector. Revolution in processed food and beverage goods packaging designs will open brighter growth prospects for the product in near future.

Growing application prospects of LLDPE will propel the market at a substantial rate. For instance, it is likely to witness significant demand as a substitute for few polyethylene grades such as HDPE and LDPE, due to better chemical and physical properties of the product. The polymer is widely used in mining, canal lining, packaging industry, geomembrane liners and hazardous waste liners and thus has brighter demand aspects in near future.

Owing to the wide range of applications such as moisture resistance in the concrete structure, soil erosion prevention in agriculture, etc. LLDPE films likely to contribute to 70% of the application revenue share by 2024. The product is popularly used in food packaging. By 2024, the global food packaging market is estimated to surpass USD 310 billion which presents brighter growth aspects for the market in the forecast period. LLDPE films are used for sacks and bags manufacturing as well, due to their mechanical properties.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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