LDPE Films Market to Reach USD 75.28 Billion By 2027: Reports and Data
The global LDPE Films market is expected to reach USD 75.28 Billion by 2028, according to a new report by Reports and Data. LDPE films have a low specific gravity which makes it a fitting choice for the flexible packaging industry. It is resistant to moisture, and that property makes it suitable for automobiles, electronic industry. Increase in the demand for linear low-density polyethylene (LLDPE) films may hinder the growth of the market due to its low cost and environment-friendly properties.
Asia Pacific is estimated to lead the market with the presence of many companies that has an application of LDPE films. APAC region has a major contribution with a growing demand for food delivery and plastics bottles on the rise. With accelerating, growth in the application of manufacturing outputs and a large number of food and beverage packaging industry in this region has contributed the growth. Growth in demand for automobile and construction will further increase LDPE films applications.
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Further key findings from the report suggest
- The preference of LDPE Films market has grown in recent years over the other films as it has a low specific gravity, high chemical, and electrical resistance.
- The material is resistant to moisture and hence is applicable in a whole new range of products like military uniforms, front glass of automotive, etc.
- By packaging, the LDPE films are used for packaging of a lot of products like Bags, container, pouches, tubes, and Bags and Containers are the two segments that have the maximum application.
- Bags are forecasted to occupy a market share of 27% by the year 2028 whereas the container segment is forecasted to occupy a market share of 22% by the year 2028.
- The lesser the thickness of the films, the more popular they are. Films with less than 50-micron thickness have a market share of 27% in the year 2020 and are forecasted to have a market share of 28% by the year 2028 with an annual growth rate of 4.2% in the forecasted period.
- The emergence of new buildings and the growth of infrastructure is pushing the market upwards. Building and construction segment has an annual growth rate of 4.6% in the forecasted year.
- The use of LDPE films in the agricultural sector is escalating the market. These films are used in greenhouses. They occupy a market share of 13% in the year 2020 and is forecasted to occupy a share of 14% in the year 2028.
- Personal care and cosmetics along with electrical and electronics have the highest growth rate of 4.9% in the forecasted period. Application of LDPE films to protect these respective products from moisture and utilization of films for packaging is also creating a surge in the market.
- APAC dominates the market with a share of 29% in the year 2020 and is forecasted to hold a share of 30%, with an annual growth rate of 4.1% in the year 2028.
- North America holds a market share of 22% in the year 2020 and is forecasted to grow to 24% by the year 2028.
- Europe has the highest annual growth rate of 5.6%, and with a market share of 19% in the year 2020, it is forecasted to hold 30% of the market by the year 2028.
- Key participants include Borealis AG, Blueridge Films, Inc., Westlake Chemicals, Manuli Stretch S.p.A., PT Panverta Cakrakencana, Sasol Limited, Toyobo Ltd., Bestfoyo Packaging Limited, Reliance Industries Limited, and Hoplee Packing Products Co. Ltd.
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For the purpose of this report, Reports and Data have segmented global LDPE Films market on the basis of packaging type, thickness, manufacturing process, end-use industry, application, forms, and region:
Packaging Type Outlook (Revenue, USD Million; 2020-2028)
- Tubes and Others
Thickness Outlook (Revenue, USD Million; 2020-2028)
- Less than 50 micron
- 50-100 micron
- 100-200 micron
- 200 micron and above
Manufacturing Process Outlook (Revenue, USD Million; 2020-2028)
- Blown Film Extrusion
- Cast Film Extrusion
End-Use Industry Outlook (Revenue, USD Million; 2020-2028)
- Food and Beverages
- Personal Care and Cosmetics
- Building and Construction
- Electrical and Electronics
Application Outlook (Revenue, USD Million; 2020-2028)
Forms Outlook (Revenue, USD Million; 2020-2028)
- LDPE natural prime
- LDPE regranulated natural color
- LDPE regranulated colored or mixed material with various applications
- LDPE film blow molding, melft flow rate (MFI) 0,3-4
- LDPE pipe extrusion
- LDPE injection molding
- LDPE natural, blow molding
- LDPE recycled natural, mix colors
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- South-east Asia
- Latin America
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