North America Linear Low-Density Polyethylene Market Worth $19.6 Billion By 2027

North America Linear Low-Density Polyethylene Market Growth & Trends

The North America linear low-density polyethylene market size is anticipated to reach USD 19.6 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to register at a CAGR of 3.9% during the forecast period. Increasing popularity of packaged foods is likely to boost the demand for linear low density polyethylene. The rapid expansion of retail stores across U.S. and Canada has driven the demand for packaged foods coupled with increasing consumption of fresh food products, positively influencing the market growth.

Favorable federal regulations laid down by agencies, such as the Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) regarding carbon emissions along with the initiatives to develop plastics application for the development of lightweight and fuel efficient cars are likely to augment the growth of North America LLDPE market.

Packaged foods have been gaining popularity in U.S. owing to various factors such as fast-paced lifestyle and increasing consumer spending on convenient food products. These food products are characterized by the ease of consumption and cleanliness. Plastic packaging for food provides resistance and protection against microorganisms and bacteria, which reduces the risk of foodborne illnesses. It also increases the shelf life of the product. Moreover, plastic food packaging provides safety during handling and transportation.

Packaging end-use segment is expected to create lucrative opportunities for linear low density polyethylene films. Smaller amount of plastic may be utilized for the packaging of beverages in comparison to other conventional materials. This saves transportation costs, energy and time by trimming waste in all aspects. Unlike other conventional materials, LLDPE may also be reused for multiple applications and recycling processes are simple and effective for plastic compounds.

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North America Linear Low-Density Polyethylene Market Report

North America Linear Low-Density Polyethylene Market Report Highlights

• Films product segment occupied the largest revenue share and is expected to maintain its dominance throughout the forecast period
• Extrusion process has dominated the overall linear low density polyethylene market and accounted for more than 85% of the total revenue Share. Extrusion is a very economical manufacturing process utilized to produce LLDPE components in large quantities
• LLDPE, in the form of transparent films, adhesive tapes, sachets, and others is widely utilized in food and beverage packaging end use, thereby driving its demand over the forecast period
• Key market players include Exxon Mobil Corporation; Formosa Plastics Corporation; INEOS; Dow, Inc.; LyondellBasell Industries N.V.; Westlake Chemical Corporation; Chevron Phillips Chemical Co., LLC; Arkema; Borealis AG; and Lotte Chemical Corporation