Dublin, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The "Linear Low-Density Polyethylene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Production Process (Solution Process, Slurry Process, Gas Phase Process), Application, By End-User Industry, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Linear Low-Density Polyethylene Market is projected to grow at an impressive CAGR during the forecast period due to the increasing demand from Food & Beverages Industry. Total revenue in the Food & Drink segment is projected to reach USD 0.67 billion in 2022.
Linear low-density polyethylene is considered an effective alternative among other grades of Polyethylene in the packaging industry today owing to its higher bearing strength, tensile strength, puncture endurance capacity, and material elongation.
Growth rates for 2020 were significantly affected by COVID-19 broadly for the Packaging and Construction Industry. Following a demand slump in 2020, Packaging Industry, as well as Construction Industry, has continued steady growth in 2021, triggering the development of the Global Linear Low-Density Polyethylene Market during the estimated and forecast period.
Growing Demand for Films in Food & Beverage Industry
The food industry utilizes Linear Low-Density Polyethylene primarily for packaging purposes. It can hold goods without releasing dangerous chemicals. It is commonly used to preserve food which ensures quality & safety for an individual. Increased Demand for Linear Low-Density Polyethylene is witnessed across various fields of Application due to its distinct properties like High Tensile Strength that assists manufacturers in producing high-quality films used in the Food & Beverage Industry. According to the European Commission, "The E.U. boasts an important trade surplus in food and E.U. food specialties are well appreciated overseas. In the last ten years, E.U. food and drink exports have doubled, reaching over €90 Billion and contributing to a positive balance of almost €30 Billion". Additionally, the changing living standards are resulting in increased food and beverage consumption, essentially driving the Linear Low-Density Polyethylene Market.
Rapid Growth in the E-Commerce Industry
The E-Commerce Packaging Industry has attracted significant consumer traction recently due to growing digitalization and evolving consumer lifestyle. This has been attributed to the rise in the consumption of LLDPE packaging material driving the growth of the Global Linear Low-Density Polyethylene Market during the forecast period. As per the data released by IAB (Interactive Advertising Bureau) Europe, "Retail Media in Europe is already an USD8.5 billion market and growing double-digit despite economic headwinds," which is indicative of growth during the forecast period.
Recent Trends and Developments
Mitsui Chemicals aims to achieve carbon neutrality by 2050. In light of that, it has signed an MoU (Memorandum of Understanding) with a Singapore-based company Shell Eastern Petroleum (Pte) Ltd, to attain adequate production and supply of ethylene derived from solid wastes such as plastics. A subsidiary of Mitsui Chemicals, i.e., Prime Polymer Co., Ltd., shall commence production operations of chemically recycled Polyethylene of different types like Linear Low-Density Polyethylene.
Adopting newer technologies will help the industry efficiently manage production costs and supply chain ease. For instance, Hanwha Solutions has augmented Luptech T high-pressure Polyethylene Process Technology licensed by LyondellBasell Industries Holdings B.V. to expand their production capacity of multiple grades of HDPE, MDPE, LLDPE, etc.
In this report, Global Linear Low-Density Polyethylene Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Linear Low-Density Polyethylene, By Production Process:
Linear Low-Density Polyethylene, By Application:
Linear Low-Density Polyethylene, By End-User Industry:
Electrical & Electronics
Linear Low-Density Polyethylene, By Region:
Middle East and Africa
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Linear Low-Density Polyethylene Market Outlook
6. North America Linear Low-Density Polyethylene Market Outlook
7. Europe Linear Low-Density Polyethylene Market Outlook
8. Asia-Pacific Linear Low-Density Polyethylene Market Outlook
9. South America Linear Low-Density Polyethylene Market Outlook
10. Middle East and Africa Linear Low-Density Polyethylene Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Global Linear Low-Density Polyethylene Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
Saudi Basic Industries Corporation
LyondellBasell Industries Holdings B.V.
Exxon Mobil Corporation
Formosa Plastics Corporation
China Petrochemical Corporation
Chevron Phillips Chemical Company LLC
Reliance Industries Limited
The Dow Chemicals Company
Ducor Petrochemicals B.V.
For more information about this report visit https://www.researchandmarkets.com/r/zh6wyt
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