Low Density Poly Ethylene LDPE Market, Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Low-density poly ethylene is a type of thermoplastic polymer of ethylene which is produced by using a free radical polymerization the process at high pressure. They have low tensile strength but high flexibility and offer superior resistance property to chemical and electricity which makes it ideal to use across automotive, packaging, construction, and insulation coax application. It is also used in the food industry for the packaging of food products such as snacks, dairy, sweets, and baked &frozen food products.
The global low-density poly ethylene (LDPE) is projected to surpass US$ 60.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.6% during the forecast period (2020 to 2027).
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Market Opportunities
Development of bio-based polyethylene from sugarcane is expected to offer immense growth opportunity to the market of LDPE over the forecast period.
Market Trends
The rising trend of increasing production capacity of polyethylene to cater to growing demand across the globe is expected to augment the market growth of LDPE. For instance, in November 2020, Dow plans to install a new furnace in its steam cracker at Fort Saskatchewan, Alberta, Canada, to increase its ethylene capacity, currently 1.42 million metric tons/year by 130,000 metric tons/year.
Competitive Section: LyondellBasell Industries N.V, ExxonMobil 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 Plastics Corporation
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