The global low density polyethylene (LDPE) packaging market is estimated to grow at a CAGR of 4.95% during the forecast period to grow to $27.879bn by 2023 from $20.866bn in 2017, says report from Research And Markets.
The "Low Density Polyethylene (LDPE) Packaging Market – Industry Trends, Opportunities and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The global low density polyethylene (LDPE) packaging market is projected to grow at a CAGR of 4.95% during the forecast period to grow to US$27.879 billion by 2023 from US$20.866 billion in 2017. LDPE is prepared from gaseous ethylene under very high pressure and high temperature in the presence of oxide initiators which generate a polymer structure with both long and short branches. These branches prevent the molecules from being packed closely together in a hard, crystalline and stiff arrangement making the LDPE flexible, strong and resistant to certain chemicals.
LDPE industry is expected to witness significant growth owing to the growing demand in the packaging industry for innovative, lightweight and convenience packaging. Moreover, there is an increase in demand for Stretch and Shrink film packaging which will augment the demand for LDPE packaging market. Although LDPE is one of the most commonly used polyethylene, it faces the threat of substitution from LLDPE, HDPE, and ULDPE which will restrict the growth of LDPE market during the forecast period.
By End Users
By end-users, the global LDPE market is segmented as FMCG, healthcare, agriculture, consumer electronics and other industry. With the growth of packaging industry for the use of edible and non- edible products, the demand for LDPE will rise as it is cost-effective, light-weight, and has a good tensile strength. The use of LDPE packaging will rise further due to the demand in the cable industry for insulation of wires as it is UV proof, chemical resistant, flexible, and durable. The growth of stretch and shrink industry will further add to the demand of LDPE packaging industry as it provides transparent, flexible, and strong packaging of products. Odourless LDPE bags are used by pharmaceutical companies to prevent their drugs from moisture for a longer duration. Moreover, LDPE is used in our day-to-day life in the form of trays, general purpose containers, polyethylene bags, juice boxes, etc.
Geographically, global LDPE packaging market is segmented as North America, South America, Middle East and Africa, Europe, and the Asia Pacific. Europe and the Asia Pacific regions accounted for a significant market share in 2016. Countries with large populations, such as, India and China, present considerable market growth potential due to rising population and consumption spending. The growing use of light-weight and strong LDPE stretch and shrink films, and the continuous growth of packaging industry is driving the growth of this industry worldwide.
The global LDPE packaging market is highly competitive owing to the vast presence of well-diversified international, regional, and local players. Market growth, massive consumption, favorable government policies, and economic cost of production are some of the key factors attracting new players in films packaging which dominate the majority of the LDPE packaging market-enhancing the competitive rivalry. The competitive landscape details products, strategies, and investments being done by key companies to boost their market share.
Some of the major players discussed in this report are Amcor Limited, Bemis Company, Sealed Air, and Hipac Packaging Solutions among others.