LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global linear low-density polyethylene (LLDPE) market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The growing consumption of packaging materials such as high-barrier thin films, high-clarity packaging, and active packaging are expected to enhance the LLDPE market. The transition from rigid containers to high-quality, flexible packages is also expected to drive the demand for LLDPE.
According to Hitesh Bhatia, a lead analyst at Technavio for plastics, polymers, and elastomers research, “Manufacturers and retailers prefer flexible packaging because of its lightweight property, that reduces transportation cost and makes it easy to recycle. Flexible packaging has grown strongly in the natural and dairy products category and dominates product segments such as coconut water and dairy alternatives.”
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The top three emerging market trends driving the global LLDPE market according to Technavio research analysts are:
- Increasing rate of recycling
- Growing demand from the construction industry
- Increase in R&D activities
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Increasing rate of recycling
The increasing rate of recycling plastics in the developed regions such as the US, Germany, and the UK due to the stringent regulations in these regions is expected to drive the demand for LLDPE during the forecast period.
The increasing demand for environmental sustainability is expected to increase the recycling and reuse of materials. In 2015, the European Commission adopted the new Circular Economy Package to make the transition to a circular economy by which the resources are expected to be used more efficiently and sustainably. This transition will be supported by ESIF with approximately USD 723 million from Horizon 2020, an EU research and innovation funding program.
Growing demand from the construction industry
The injection molding application of LLDPE is used for the construction of lawn and garden products, furniture parts, kitchen accessories, and recreational products. The increase in construction activities in the APAC regions such as India, Indonesia, Thailand, China, and Japan is expected to foster market growth during the forecast period.
The construction industry is expected to reach more than USD 12 trillion by 2020. The growth is mainly driven by the improvement in the living standards of people, worldwide construction, and continued urbanization.
Increase in R&D activities
Major LLDPE players have increased their expenditure on R&D to reduce the manufacturing and operation cost of LLDPE. The innovation and product extension to provide products with enhanced properties and better efficiency is a growing trend in this market. Thus, to maintain the competitive edge and market share, the vendors of global LLDPE market have been heavily emphasizing on new technology and innovations.
“The development of new eco-friendly and sustainable LLDPE is expected to increase the market share of the LLDPE market during the forecast period. For instance, Braskem produced green PE from ethanol sugarcane, a renewable raw material. The green PE captures and fixes carbon dioxide from the atmosphere during its production, thereby reducing the emission of GHG,” says Hitesh.
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