Global LLDPE market is expected to witness considerable growth over the next seven years on account of its widespread use in a variety of end-use industries including packaging, household products, agriculture and automotive. High tensile strength of LLDPE makes them most suitable in the manufacture of plastic films. Plastic films are employed in various end-use applications where elongation and flexibility properties are needed including miming, packaging, geo-membrane liners, canal linings and hazardous waste liners. In addition, LLDPE films are used for packaging of food products. Growth in the food industry is anticipated to propel plastic film market which in turn is likely to boost LLDPE demand over the projected period. In addition, LLDPE is employed in the manufacture of bags, sacks and in the production of building and construction materials. Positive construction outlook in North America and Asia Pacific particularly in U.S., China, India, Indonesia and Malaysia is anticipated to drive LLDPE market over the next seven years.
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Furthermore, the agricultural sector employs plastic films in order to protect crops from UV rays and soil erosion. Agriculture has been the fastest growing sector in India and China. Rise in the agriculture industry is likely to have a positive impact on LLDPE market over the projected period. However, mature markets including Europe and North America are expected to witness sluggish growth as manufactures have been shifting their manufacturing base to developing markets including China, Brazil, Singapore, India and South Korea owing to high raw material availability and low production costs. However, high cost of raw materials and availability of substitutes such as LDPE (low density polyethylene) are anticipated to challenge market growth. In addition, prevalence of stringent government regulations regarding the use of non-biodegradable materials is also anticipated to hamper market growth.
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Key players present in the LLDPE market include Basell, Dow, Mitsubishi Chemicals, ExxonMobil, CPChem, Borealis, Braskem, Mitsui, Westlake Plastics, CNPC, SINOPEC, LyondellBasell, SABIC, Nova Chemicals and Reliance Industries. In 2013, Sinopec increased LLDPE prices in East China by USD 32.36 per metric ton. In 2014, SABIC launched a new polypropylene and linear low density polyethylene combined film in Europe for use in the beverage industry to reduce losses during transportation.
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