Buoyed by clarity, toughness and flexibility, leading companies are slated to inject funds in linear low density polyethylene films market share. Stakeholders are coming up with a fresh level of performance, safety and efficiency in food packaging to gain an edge in the competitive industry.
With high tensile strength, higher impact strength and puncture resistance, LLDPE has become one of the most prevalent packaging films in the packaging industry. Robust growth projections of retail packaging, automotive and consumer goods have triggered growth in the landscape. Global Market Insights, Inc., predicts linear low density polyethylene films market size to surpass US$60 billion by 2024.
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LLDPE is likely to have an edge over LDPE and HDPE in the backdrop of better physical and chemical properties of the product. It is pertinent to mention that polymer is highly sought-after in packaging industry, mining and canal lining.
Stakeholders expect LLDPE films to grow bullishly following its growing footfall in grocery bags, envelopes, candy wrap, food packaging, trash and can liners, shipping sacks, industrial liners and mattress bags. LLDPE films segment is likely to account for over 70% revenue share by 2024, partly attributed to its penetration in sacks and bags manufacturing.
How will rotomolding contribute towards global linear low density polyethylene films market size?
The trend for LLDPE has become palpable in lamination films, milk & edible oil packaging, extrusion coating and rotational molding (rotomolding). Rotomolding has gained popularity as a highly versatile process enabling a glut of design possibilities with the upside of reduced production costs.
Opening new application avenues is rotomolded LLDPE that has become a key name in the manufacturing of toys, tanks, industrial hoppers, outdoor playground equipment, medial bed rest and coffee dispense, among several others. Rotomolded LLDPE revenue is likely to be pegged at over US$6.9 billion by 2024.
With flexibility, high tensile strength, durability, affordable tooling costs and seamless construction, rotational molding has come up as an economically viable process to manufacture a sea of products in all shapes and sizes.
Why do stakeholders perceive North America as a favorable market for LLDPE?
Expanding footfall of linear low density polyethylene films in medical packaging will bode well for stakeholders vying to bolster their portfolios in North America. Advanced economies such as the U.S. are witnessing increased penetration of rotomolders in medical and healthcare industries.
Value-added post-mold services and low tooling costs have made rotomolders highly popular in the U.S. With a surged demand for hollow plastic healthcare products such as squeeze bulbs, LLDPE is seen as a reliable and safe method for producing these parts. North America LLDPE market share will potentially surpass US$7.5 billion by 2024, partly attributed to ease of custom coloring, design freedom and mold-in graphic services.
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What are the potential revenue streams in APAC linear low density polyethylene films market over 2016-2024?
APAC linear low density polyethylene films market is going through structural changes pertaining to technological advancements and material development in molds, machines, processes and new market segments.
With increased awareness, many of the LLDPE products have ventured into industrial products such as chemical tanks, fuel tanks and material handling products in the region. Burgeoning urbanization and subsequent industrialization have triggered growth in automotive, electronics and manufacturing sectors, boosting APAC LLDPE market outlook.
Developmental activities of LLDPE films and rotomolding are likely to be highest in emerging economies such as Asia Pacific, particularly in India and China. Infusion of funds in construction and building, health and sanitation, infrastructure, agriculture will generate exceptional growth potential for leading companies in the region.
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