LLDPE Market in India to Grow at CAGR 6% till 2025
Increasing packaging applications, rising
discretionary income coupled with rapid industrialization is expected to drive
India LLDPE market through 2025
According to recently
published TechSci Research report “India
LLDPE Market Study, 2011 – 2025”, LLDPE market in India is projected to
grow at a CAGR of over 6% during 2016 – 2025. Strong growth in the packaging sector,
industrialization and expanding commercialization are the major factors
propelling the country’s LLDPE market. This growth in the India LLDPE market
can be attributed to the strong growth in retail and packaging industry of the
country. India accounted for a share of around 4% in the global packaging
industry in 2015. Growing urbanization and expanding working population with
sedentary lifestyles is resulting in the increased average consumer spending
power in India, thereby boosting the plastic and packaging industry of the
country over the coming years. The packaging industry in India is expected to
reach USD73 billion in 2020 rising from USD32 billion in 2015, registering an
annual growth of 18% during 2016-2020. Increasing demand for rigid and flexible
packaging complemented with organised retail and boom in e-commerce is offering
a huge boost to the country’s packaging sector which is expected to drive the
country’s LLDPE market over the next nine years.
LLDPE is tailored for
utilisation in film applications including food and non-food packaging, stretch
film, and a couple of non-packaging uses. Demand for high clarity packaging,
high barrier thin films and packaging which increase shelf life of packaged
products at low cost are propelling the growth of butene films in India. Butene
film dominate LLDPE market in India, due to properties like easy processing, antiblock,
relative transparency, high performance, UV stability, improved melt strength
with high flow capacity. With wide application area covering general purpose
packaging films in can liners, trash bags, thin wall lids for frozen food
packing (ice cream, whipped dairy), caps and closures, compounding, etc., butene
films are expected to maintain their dominance in the India LLDPE market
through 2025 as well. West region of the country is a major demand generator
region for LLDPE owing to the presence of large number of plastic manufacturers
located in the region.
“LLDPE is widely utilised in
applications of blown and cast, injection moulding, extrusion coating and roto
moulding, as a result of which it is extensively employed in the packaging,
agriculture, construction, automotive, houseware, marine, and toy components. Hence,
increasing efforts by companies like Reliance, OPAL and BPCL to expand
production capacity for LLDPE in the country to meet the huge demands for LLDPE
in multiple end use industries is going to drive India LLDPE market during
2016-2025.” said Mr. Karan Chechi, Research Director, with TechSci Research, a
research based global management consulting firm.
“India
LLDPE Market Study, 2011 – 2025”, has evaluated the future growth potential
of India LLDPE market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyses the emerging trends along with
essential drivers and key challenges faced by India LLDPE market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
industrial verticals. TechSci Research specializes in research based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications. Our workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]