The Low Density Polyethylene (LDPE) Market in 2022 valued at around US$ 44.5 Billion and is anticipated to reach US$ 69.8 Billion by 2030. The Global Market is expected to witness a considerable CAGR of 5.8% during the period between 2023 and 2030.
Low Density Polyethylene (LDPE) Market: Growth Drivers
Increasing usage of LDPE foams in the sports industry
The demand for sports equipment/products has been increasing rapidly worldwide due to rising urbanization and growth in disposable income of consumers. Low Density Polyethylene (LDPE) foams are being increasingly employed in the sports industry, as they possess better physical properties such as high elasticity. They also provide protection against repeated shock from relatively high stresses. The low density polyethylene (LDPE) market has been expanding significantly, owing to its promising features such as water resistance, chemical resistance, compressive strength, energy absorbance, buoyancy, and cushioning. For instance, in 2021, Zotefoams presented new LDPE foams with 30% recycled content at K and Low Density polyethylene (LDPE) grades incorporating 30% post-industrial waste that comply with emerging requirements for recycled content in product protection applications.
Figure 1. Global Low Density Poly Ethylene Market, Revenue Share %, By Region, 2022
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Increasing demand from a separate region's construction industry
The global construction industry is the world's largest consumer of raw materials. Rising construction activities worldwide for boosting development is driving the low density polyethylene market growth. The Europe construction industry is growing at a rapid pace due to low-interest rates, strong economic growth. For instance, in 2021, Artisan Real Estate, a real estate developer, announced its new US$ 78.7 Billion residential development plan named Kristal Place in the U.K. The Africa construction industry has also witnessed rapid growth. For instance, Kenya has embarked on the construction of a US$14.5 billion technology in 2022 city in Machakos County in a bid to appeal to technology geniuses and financiers to boost its economic growth.
Low Density Polyethylene (LDPE) Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 44.5 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030CAGR: | 5.8% | 2030 Value Projection: | US$ 69.8 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Lyondell Basell Industries N.V, Exxon Mobil Corporation, The Dow Chemical Company, Saudi Basic Industries Corporation, BASF-YPC Company limited, Qatar Petrochemical Company Q.S.C, LG Chemical Ltd, E.I Du Pont De Nemours and company, Braskem S.A, and Formosa Plastic Corporation |
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Growth Drivers: |
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Restraints & Challenges: |
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Low Density Polyethylene (LDPE) Market: Restraints
Alternative plastic ban may hinder the market growth
The increasing development of cost-effective substitutes including Linear Low-density Polyethylene (LLDPE), Polyethylene Terephthalate (PET), Acrylonitrile Butadiene Styrene (ABS), and High-density Polyethylene (HDPE) is hampering the market growth. On the other hand, waste plastic bags pollute the land and water and have become a threat to the life of animals living on the earth as well as in water. Due to these factors, plastic ban took effect worldwide, thus prohibiting the country from using single-use plastic in any factor, which might restraint the low-density polyethylene market growth.
Low Density Polyethylene (LDPE) Market: Market Segmentation
Regionally, Asia Pacific dominated the low density poly ethylene market in 2022, reporting 36% of the market share in terms of revenue, followed by Europe and North America.
Low Density Polyethylene (LDPE) Market: By Application
On the basis of application, films & sheets segment dominated the low density poly ethylene market in 2022, reporting 68% of the market share in terms of revenue, followed by the others and extrusion coating segments.
Figure 2. Global Low Density Polyethylene Market, Revenue Share %, By Application, 2022
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Low Density Polyethylene Market LDPE: Recent Development
In November 2022, Shell Global commenced operations in Pennsylvania with a polyethylene capacity of 1.6 Billion tons per year.
In January 2022, ExxonMobil and SABIC developed Gulf Coast Growth Ventures, a new company with a manufacturing plant in U.S. This plant would include two polyethylene units capable of producing up to 1.3 Billion metric tons of polyethylene per year.
On June 2020, Abriso NV purchased Air pack Spa, an Italy-based company that specializes in the extrusion of polyethylene (PE) and polypropylene (PP) materials for the packaging and construction applications.
In September 2020, Dow announced the creation of a new resin composed of 70% recycled plastic. This new resin is made of Low-density Polyethylene (LDPE) with recycled plastic shrink film.
Low Density Polyethylene (LDPE) Market: Key Companies
The key companies operating in the market are Lyondell Basell Industries N.V, Exxon Mobil Corporation, The Dow Chemical Company, Saudi Basic Industries Corporation, BASF-YPC Company limited, Qatar petrochemical company Q.S.C, LG chem ltd, E.I Du Pont De Nemours and company, Braskem S.A, and Formosa Plastic Corporation.
*Definition: Low-density Polyethylene (LDPE) is a widely-used high clarity and chemically inert polymer owing to its flexibility, barrier properties, good impact strength, and stress crack resistance. It is also one of the most economic polymers available in the market.
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About Author
Yash Doshi
Yash Doshi is a Senior Management Consultant. He has 12+ years of experience in conducting research and handling consulting projects across verticals in APAC, EMEA, and the Americas.
He brings strong acumen in helping chemical companies navigate complex challenges and identify growth opportunities. He has deep expertise across the chemicals value chain, including commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals. Yash is a sought-after speaker at industry conferences and contributes to various publications on topics related commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals.
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