According to the report published by
Allied Market Research, the Europe
LDPE and LLDPE industry generated $10.4 billion in
2019, and is expected to reach $16.8 billion by 2027, witnessing a CAGR of 6.1%
from 2020 to 2027. The report provides a detailed analysis of changing market
trends, market size & estimations, key winning segments, top segments,
value chain, and competitive scenario.
Rise in demand from the packaging
industry and increase in demand for LDPE and LLDPE films from the agricultural
industry drive the growth of the Europe LDPE and LLDPE market. However, the ban
on single-use plastic bags by 2022 would restrain the market growth. On the
other hand, integration of recycled LDPE and LLDPE to advance circular plastics
economy is expected to present new opportunities in the coming years.
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Covid-19
Scenario:
- As there have been operational and economic
disruptions in the packaging industry, which is the largest consumer of
LDPE and LLDPE, the demand has reduced significantly.
- Lockdown measures taken in many countries
hampered the demand for food and beverages as tourism activities were shut
down. Moreover, hotels, restaurants, and cafes were also closed, which in
turn, affected the demand.
- However, the demand for LDPE and LLDPE for
manufacturing packaging materials for liquid soaps, sanitizers, and
disinfectants increased considerably.
- Construction activities were banned during the
lockdown in many countries. The demand for LDPE and LLDPE is lowered.
However, as construction projects began in the post-lockdown period, the
demand would take off.
The report provides a detailed
segmentation of the Europe LDPE and LLDPE market based on country, type, and
application.
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Based on type, the LLDPE segment
contributed to more than four-fifths of the total share in 2019, and is
expected to continue its lead position in terms of revenue throughout the
forecast period. Moreover, this segment is estimated to witness the largest
CAGR of 6.3% from 2020 to 2027. The report also analyzes the LDPE segment.
Based on application, the packaging
segment accounted for the highest market share with more than half of the
Europe LDPE and LLDPE market share in 2019, and is expected to maintain its
leadership status throughout the forecast period. Moreover, this segment is
estimated to witness the highest CAGR of 6.9% during the forecast period. The
report offers a detailed analysis of segments such as agriculture,
construction, geomembranes, and others.
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Based on country, France accounted
for the largest market share with nearly one-fourth of the total market share
in 2019, and is expected to maintain its lead position by 2027. However, the U.K.
is projected to portray the highest CAGR of
9.6% from 2020 to 2027.
Leading players of the Europe LDPE
and LLDPE market include Agriplast SpA, Chevron Corporation, Braskem S.A.,
Exxon Mobil Corporation, Dow Inc., Ineos Group Holdings S.A., Flex Polymers,
Mitsubishi Chemical Holdings, LyondellBasell Industries Holdings B.V., and Nova
Chemicals Corporation.
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Full Summary@ https://www.alliedmarketresearch.com/europe-ldpe-and-lldpe-market-A07183
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