- Rising demand for packaging applications in various industries, such as medical and pharmaceutical, consumer products, and personal care is expected to drive sales in the market
- Butene comonomer provides greater color stability and processability in LLDPE films, which is likely to drive its demand in the market
ALBANY, N.Y., Jan. 7, 2022 /PRNewswire/ -- Transparency Market Research: In terms of revenue, the Asia Pacific &Europe synthetic polymers market for LLDPE films is expected to reach the valuation of US$ 43.6 Bn by 2031, expanding at a CAGR of 5.06% during the forecast period, from 2021 to 2031.
LLDPE films made from synthetic polymers are extensively utilized in the packaging industry to safeguard products from damage. These films are extremely sturdy, posseshigh tensile strength, strong moisture barrier, and capability to seal to themselves sans any additional coating. Chemical resistance is another feature of LLDPE films made from synthetic polymers, which increases its resistance to degradation. The demand from the packaging industry is increasing, which is likely to bolster the growth of the Asia Pacific &Europe synthetic polymers market for LLDPE films.
The Food and Agriculture Organization (FAO) estimates that in order to feed everyone by 2050, the global food production would need to increase by up to 70%. Nine nations, including Pakistan and India, are expected to account for more than half of the global population increase between 2019 and 2050, according to the projections. By 2027, India is expected to surpass China as the world's most populated country. Controlled agriculture and utilization of various technologies, such as mulching, greenhouses, and silage can help meet this considerable rise in demand for agricultural products. Agriculture films are in high demand due to the need to boost agricultural productivity. LLDPE films made from synthetic polymers are utilized as important raw materials in the manufacture of agricultural films; hence, the demand for synthetic polymers is closely tied to the usage of agricultural films. As a result, rise in attempts to boost agricultural production to meet the demand for expanding population is expected to drive revenue opportunities in the Asia Pacific &Europe synthetic polymers market for LLDPE films during the forecast period.
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Key Findings of Market Report
- Increasein sales through various eCommerce platforms is likely to drive the demand for synthetic polymer-based packaging solutions
- Constant rise in demand for processed food items and beverages is drivingthe demand for high-performance packaging to prevent products from tampering or contamination from biological, physical, and chemicals sources. It also keeps food fresh for longer time. HDPE, LDPE, and LLDPE are polyethylene resins that are widely utilized in the production of packaging films for food products.
- Market expansion is aided by availability of a variety of LLDPEvariants, including Butene C4, Hexene C6, and Octene C8. Chemieuro is gaining reputation for their LLDPE varieties made from Hexene C6, Octene C8, and Butene C4
- The Europe synthetic polymers market for LLDPE films is expected to benefit from the rising demand for flexible packaging. In the region, synthetic polymers are extensively utilized in the production of flexible packaging solutions. As such, the use of synthetic polymer for developing flexible packaging solutions in Europe is expected to rise in the near future.
- Blown films are a key application segment in the Asia Pacific &Europe synthetic polymers market for LLDPE films. These resins provide films with exceptional transparency, impact resistance, and toughness. Mulch films, apparel packaging, and heavy-duty liners are likely to fuel the demand for polymers of LLDPE films.
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Asia Pacific & Europe Synthetic Polymers Market for LLDPE Films: Growth Drivers
- LLDPE films have a lower gloss than LDPE films and more difficult to produce than LDPE. Despite this, firms are expanding R&D in synthetic polymers in order to better the qualities of LLDPE films.
- Firms in the Asia Pacific &Europe synthetic polymers market for LLDPE films are adopting butane comonomer to generate stable income streams. Films made with this resin are strong, with high puncture resistance, tensile strength, and reduced gel levels.
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Asia Pacific & Europe Synthetic Polymers Market for LLDPE Films: Key Players
Some of the key market players are
- LyondellBasell Industries Holdings B.V.
- NOVA Chemicals Corporate
- Formosa Plastics Corporation
- Westlake Chemical Corporation
- SCG Chemicals Co.
- Saudi Basic Industries Corporation
Asia Pacific & Europe Synthetic Polymers Market for LLDPE Films: Segmentation
Comonomer
- Butene
- Hexene
- Octene
Catalyst Scope
- Zigler Natta
- Mettalocence
Technology
- Blow Film Extrusion
- Others
Application
- Flexible Packaging
- HDSS
- Garbage Bag
- Stretch Films
- Others
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