LDPE (Low Density Polyethylene) Price Forecast Report 2024-2025 | Price Trend, Latest Prices, Market Analysis, News, Chart, Demand, Extensive Forecast, Historical and Forecast Data

LDPE (Low-Density Polyethylene) Price Forecast

LDPE price forecast looks positive for the year 2024. The upsurge in the petrochemical sector in the first quarter propelled the manufacturing costs, which forced suppliers to increase pricing outlooks. Downstream demands were also supportive of these fluctuations in LDPE markets. Looking at these patterns, the prices are expected to continue escalating in the coming months as well, since the demand appears consistent and steady. Short-term market projections for LDPE look confident.

Market Dynamics

In India and Saudi Arabia, LDPE prices have risen notably, driven by increasing demand from the packaging industry and influenced by rising energy and ethylene costs. The year started on a higher note, and the price trajectory remained firm, supported by good downstream demands. In the Middle East, the situation tensed up after the commencement of the Israel-Hamas war. Supply chain hindrances and other factors gravely influenced petroleum outputs and, consequently, the whole petrochemical industry.  Disruptions in key transportation routes and rising costs of ethylene, naphtha, and crude oil have further exacerbated these trends. The US market has seen tightened supplies due to active trading and export demand, resulting in price increases.

Globally, LDPE prices escalated significantly in February 2024 due to a combination of supply shortages and increased demand. In Europe, however, the situation started correcting in mid-Q2, along with some declines in crude prices. The month of May observed a decline in downstream demands in the region from the packaging and plastics industries. With available supplies dominating the demands, the price trajectory temporarily tilted southwards in Europe.

Annual Outlook for LDPE (Low-Density Polyethylene) Industry

LDPE price outlook has maintained an inclined trajectory in the Indian market because of the rising demand from the packaging industry, compounded by higher energy and ethylene costs, geopolitical tensions, and increased freight rates. Maintenance work in the Middle East is also contributing to upward price pressures. Looking at the growth potential, the Indian polyethylene industry is forecasted to add about 2.4 million metric tonnes per annum (MMTPA) of new capacities in 2024; Hindustan Petroleum Corporation Ltd (HPCL) plans to launch a separate project for the production of linear low-density polyethylene (LLDPE) with a capacity of 550,000 tonnes per annum.

Globally, the LDPE market experienced a sharp price increase in February 2024, driven by supply shortages and strong demand from the US, particularly in the construction and packaging sectors. Security challenges in the Red Sea have led to delays and increased costs in shipping, escalating the prices of imported polymers. In North America, producers have further implemented significant price hikes across various polyethylene grades, shaping the overall market dynamics for the year. Based on these trends and events the annual outlook for LDPE looks elevated for the entire year of 2024. Prices are expected to remain high in key LDPE markets around the world.

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