Low Density Poly Ethylene LDPE Market Is Growing Due to Rapid Growth of Packaging Industry

 

Low Density Poly Ethylene LDPE Market

Low density poly ethylene (LDPE) is a thermoplastic made from the monomer ethylene. It was first produced by Imperial Chemical Industries in 1933 using a high pressure process through free radical polymerization. The low density poly ethylene LDPE market is witnessing robust growth due to the increasing use in packaging industries. The rapid growth of the packaging industry coupled with increasing demand from the construction and automotive sectors are key drivers for the low density poly ethylene market, especially in the Asia Pacific. Owing to the e-commerce boom, the packaging industry is witnessing a boom and is one of the strongest growing segments in the country.

According to the Indian Institute of Packaging (IIP), packaging consumption in India increased 200% in the past decade, from 4.3 kgs per person per annum (pppa) to 8.6 kgs pppa. The packaging industry is expected to reach US$ 204.81 billion by 2025 from US$ 50.5 billion in 2019 at 26.7% annually. Low density polyethylene offer high flexibility and superior resistance property, which makes it ideal to use across various end-use industries, such as construction, packaging, and automotive. Moreover, LDPE is widely used for the packaging of food products such as sweets, dairy products, snacks, and baked/frozen food products, among others. This in turn is expected to increase the demand for low density poly ethylene.

Growth of the low density poly ethylene LDPE market is also driven by the rise in construction activities around the world, especially in North America and the Asia Pacific. LDPE is widely used in the production of kitchen products, bathroom products, pipes, trays, containers, etc. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s largest construction market by 2022. United States, China, and India are expected to account for almost 60% of all global growth in the sector by 2025. Therefore, growth in the construction is expected to propel the low density poly ethylene LDPE market growth.

The production cost of LDPE is almost 10 times less than that of PET, nylon, and polystyrene owing to the high availability of raw feedstock and large production volumes. Thus, there is an increasing demand for low density poly ethylene in various end-use industries. LDPE is one of the major materials used in packaging. LDPE is used primarily in film applications for both packaging & non-packaging applications. Other markets include sheathing in cables, extrusion coatings, and injection molding applications. The aforementioned factors are expected to drive the low density poly ethylene LDPE market growth. However, increasing utilization of linear low-density polyethylene (LLDPE) is expected to restrain the market growth.


Location: India

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