February 15, 2023 09:20 ET | Source: ReportLinker ReportLinker

New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Low-Density Polyethylene Global Market Report 2023" - https://www.reportlinker.com/p06281552/?utm_source=GNW The global low-density polyethylene (LDPE) market will grow from $46.65 billion in 2022 to $51.11 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The low-density polyethylene (LDPE) market is expected to grow from $72.34 billion in 2027 at a CAGR of 9.1%. The low-density polyethylene (LDPE) market consists of the sales of rigid and soft low-density polyethylene.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The low-density polyethylene (LDPE) refers to a thermoplastic produced from the monomer ethylene.Low-density polyethylene is resistant to moisture and chemicals, and it is non-toxic, non-contaminating in nature, flexible, and relatively transparent. It is used to make many thin and flexible products, such as plastic bags for dry-cleaning, newspapers, and others. The manufacturing process of low-density polyethylene is the autoclave method and the tubular method.Autoclaving is a sterilization method that uses high-pressure steam. The autoclaving process works in that the boiling point of water increases when it is under pressure.The applications are film and sheets, extrusion coatings, injection molding, and other applications. The end-use industries are agriculture, electrical and electronics, packaging, construction, and other end-use industries. Asia Pacific was the largest region in the low-density polyethylene market in 2022.North America was the second-largest region in the low-density polyethylene market. The regions covered in the low-density polyethylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The rising demand for LDPE in the packaging industry is expected to boost the growth of the LDPE market.LDPE is being increasingly used for food packaging and non-food packaging. Use of LDPE in packaging decreases the cost of packaging.LDPE has the properties of having good tensile strength and being flexible, which makes the process of packaging easy. LDPE is commonly used in food packaging to manufacture coffee can lids, bread bags, and fruit and vegetable bags used in grocery stores.It is also used in non-food packaging such as shipping sacks, bubble packing, envelopes, overwrap, and rack and counter bags. According to the American Plastics Council (APC), LDPE accounts for 65.5 percent of the total plastic film used in the packaging of food items, whereas it accounts for 54.9 percent of the total plastic film used in the packaging of non-food items. The increase in demand for packaging accelerates the demand for LDPE used as a packaging material. The rising popularity of Linear Low-Density Polyethylene (LLDPE) is expected to restrict the growth of the low-density polyethylene (LDPE) market.Linear Low-Density Polyethylene (LLDPE) acts as a substitute to low-density polyethylene (LDPE) with additional benefits such as high tensile strength and a higher degree of resistance from UV rays and other environmental factors when compared to low-density polyethylene (LDPE). According to an article by Plastivision, by 2023 the demand for LDPE for kitchen appliances is expected to reach 1.2 million metric tons only, whereas the demand for LLDPE for the making of industrial containers is expected to reach 3 million metric tons. Thus, the market for LDPE is negatively impacted owing to the high tensile strength and more flexibility offered by LLDPE as compared to LDPE. The production of bio-derived polyethylene is being widely adopted by companies in the low-density polyethylene market as a substitute for chemically synthesized polyethylene.Low-density polyethylene, like other plastics, is chemically synthesized and releases harmful toxins into the environment when burned and is difficult to decompose, further harming the environment. Companies involved in the LDPE market are investing in finding sustainable options for chemical plastics called bioplastics.These bio-plastics mimic the robustness and durability of conventional plastics such as LDPE and degrade in the open air. For instance, in July 2020, a US-based chemicals company Dow Inc and a Malaysian manufacturer of stretch films launched a new range of bio-based polyethylene (bio-PE) in Asia Pacific market. It is a bio-based polyethylene made from renewable feedstock that helps firms to develop high-performance plastics while limiting carbon footprint. In September 2022, Repeats Group BV, a plastics recycling platform based in the Netherlands acquired Polimero Srl for an undisclosed amount.The acquisition enables Repeats Group to further penetrate the Italian market with high quality recycled resin. Polimero Srl is an Italian manufacturer of recycled low-density polyethylene (LDPE). The countries covered in the low-density polyethylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The low-density polyethylene (LDPE) market research report is one of a series of new reports that provides low-density polyethylene (LDPE) market statistics, including low-density polyethylene (LDPE) industry global market size, regional shares, competitors with a low-density polyethylene (LDPE) market share, detailed low-density polyethylene (LDPE) market segments, market trends and opportunities, and any further data you may need to thrive in the low-density polyethylene (LDPE) industry. This low-density polyethylene (LDPE) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06281552/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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