Global sales of low-density polyethylene (LDPE) are forecast to rise from $33 billion in 2013 to $37.2 billion by 2021.
A new report by research group Ceresana of Konstanz, Germany, has predicted sales of the much-used material to rise 1.5 percent per year, with several world regions rapidly increasing their production capacity.
LDPE output in the Middle East is expected to rise at a higher rate — 5 percent — a year, thanks to the influence of new, large-scale petrochemical complexes which arise out of joint ventures.
North America would also see large production sites erected, although growth would be slower because the market already is mature.
However Ceresana said Asian countries — particularly India and China — which were adapting to Western standards for packaged food would rank among the strongest growth markets.
Meanwhile Western Europe would see the closure of LDPE plants, the report argued.
The bulk of LDPE goes into film and sheet production, which accounts for 63 percent of its use.