NEW YORK, November 10, 2016 /PRNewswire/ --
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.
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