Global LDPE market at almost $22.5 billion by 2019

According to the latest report by Research and Markets, "Global Low Density Polyethylene (LDPE) Market by Application and by Geography - Analysis & Forecast to 2019," the global LDPE market in terms of value is projected to reach $22.488 billion by 2019, from $18.694 billion in 2014. CAGR is estimated at 3.8% from 2014 to 2019.

 

According to the report, the use of LDPE in food packaging is a strong driver for this market. Food grade LDPE bags are highly effective in storing the food products with great care and save them from spoilage due to any reason. To maintain the freshness and quality of packaging food products, which are stored or transported, these products are packed in the LDPE bags that help them to keep control on moisture, odor, and mold that may spoil the items. Because of this reason, LDPE is extensively used in food packaging applications. The growing food packaging industries are a prime driver for the LDPE demand, globally.

 

 

The growing demand from the manufacturing food packaging, and automotive industries are driving the global LDPE market. However, the fluctuation in crude oil prices, and the replacement of LDPE by more cost-efficient LLDPE, among others, may restrain the growth of the global LDPE market in the coming years.

 

Based on applications, the LDPE market has been segmented into food packaging, pharmaceuticals packaging, consumer goods packaging, industrial packaging, agriculture, construction, medical, other packaging, and others non-packaging. The food packaging segment held the largest market of around 45% in 2014. This segment would continue to dominate the market in the coming years. The growing manufacturing industries and food packaging industries are some of the major drivers for the growth of the LDPE market.