Linear Low-Density Polyethylene (LLDPE) Market is projected to reach USD 67.83 Billion by 2022, at a CAGR of 5.5% between 2017 and 2022. The availability of plastic products at affordable rates and rise in demand for packaging materials have contributed to the increased consumption of LLDPE products in various applications.
Leading players operating in the LLDPE market include Sinopec (China), LyondellBasell (Netherlands), Exxon Mobil (US), SABIC (Saudi Arabia), The Dow Chemical Company (US), Borealis (Austria), Formosa Plastics (Taiwan), China Petrochemical Corporation (China), INEOS (Switzerland), and Westlake Chemical (US).
Properties of LLDPE films include good rigidity-to-thickness ratio, improved toughness, high moisture and chemical resistance, and excellent moisture barrier properties. The unique properties of LLDPE films, coupled with their widespread applicability, have contributed to the growth of the films segment of the LLDPE market.
Asia Pacific is the fastest-growing regional segment of the LLDPE market.
The LLDPE market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth of the LLDPE market in this region can be attributed to the increasing demand for LLDPE resins from various end-use industries, such as packaging, solar energy, and automotive. Asia Pacific is a key consumer of LLDPE resins, followed by North America and Europe. The expansion of the plastics industry and increase in demand for packaging materials, especially from China, India, South Korea, and Malaysia have contributed to the growth of the LLDPE market in the Asia Pacific region.