Europe LDPE and LLDPE Market size is projected to reach $16.8 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027

According to a new report published by Report Ocean, titled, “Europe LDPE and LLDPE Market by Type and End Use Industry: Opportunity Analysis and Industry Forecast, 2020–2027,” The Europe LDPE and LLDPE market was valued at $10.4 billion in 2019, and is projected to reach $16.8 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.

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The Europe LDPE and LLDPE market is an established market and is expected to grow further during the forecast period. LDPE and LLDPE are the most common thermoplastics used in various end uses. LDPE and LLDPE are a type of polyethylene that are differentiated from HDPE due to its low density. They are found in every walk of life, ranging from simple to high-end application in which no other materials could serve as replacement. They are both inexpensive polymers with widely favorable mechanical and chemical resistance properties. Owing to its low toxicity, both plastics are employed in food-contact and medical applications.

The Europe LDPE and LLDPE market growth is mainly driven by increase in demand from its major end-use industries, on account of macro-economic factors such as increase in population, surge in incomes, and rise in food consumption. The expansion of the online retail sector drives the market for consumer goods, electronics, as well as food & beverages in European countries such as Germany, the UK, France, Italy, and Spain. This drives the demand for shrink films and stretch films based on LDPE and LLDPE meant for transit packaging. Further, the agriculture sector uses plastic covering films based on LDPE or LLDPE for increasing yield and maximizing productivity.

This has increased the demand for specialty films such as silage film, solarization film, and mulching films. Another key consumer of LDPE and LLDPE is the geomembranes segment that has diverse applications in multiple industry verticals. Manufacturers of LDPE focus on developing LDPE resins customized for specific applications. This helps them in increasing the product differentiation as well as attract more customers.

This increases their revenue share in the LDPE and LLDPE market. Developing bio-based LDPE and LLDPE will provide growth opportunities for market players. Moreover, development of LDPE and LLDPE resins that can be readily incorporated into existing plastic will increase sustainability.

LDPE and LLDPE is also used in making single-use plastics, the EU has planned to ban single-use plastics by the end of 2025. This will hamper the market growth during the forecast period. In addition, substitute to LDPE and LLDPE such as HDPE, PVC, or even biodegradable plastics will limit the penetration of LDPE and LLDPE further.

On the basis of type, LLDPE is expected to be the fastest growing segment as well as accounted for the largest market share in 2019. LLDPE offers various advantages over LDPE such as flexibility, strength, and superior environmental crack resistance, or ESCR. Nearly all the key industrial verticals use LLDPE that include construction and the automotive sectors.

On the basis of end-use industry, the packaging segment accounted for the largest market share in 2019, in fact almost 50% of the total market was dominated by this segment. This segment includes packaging for food and non-food applications.

Key manufacturers profiled in the Europe LDPE and LLDPE market are Agriplast SpA, Braskem S.A., Chevron Corporation, Dow Inc., Exxon Mobil Corporation, Flex Polymers, Ineos Group Holdings S.A., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Holdings, and Nova Chemicals Corporation.

Key findings of the study

Based on type, the LLDPE segment accounted for 81% Europe LDPE and LLDPE market share in 2019, and it is anticipated to be the largest market during the forecast period
The packaging segment is the leading consumer of LDPE and LLDPE, it accounted for more than 53% of the total Europe LDPE and LLDPE market share in 2019.
Packaging accounted for the largest segment, its growth is driven by packaging for food and consumer goods industries.
Impact Of Covid-19 On The Europe Ldpe And Llpde Market

Due to the pandemic, there has been a disruption in industrial output as companies had to operate under workforce restriction to minimize the spread of the virus. This led to a decline in demand for packaging films and bags based on LDPE and LLDPE
Moreover, lockdown measures in countries such as Germany, France, and Italy have hampered the tourism & hotel industry, impacting the demand for LDPE and LLDPE based flexible liquid packaging for food & beverage products.
Due to the pandemic, there has been an increase in demand for bottles and stand-pouches made of plastics such as LDPE and LLDPE for packing hand sanitizers and disinfectants

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This release was published on openPR.