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Low-density polyethylene (LDPE), also known as high-pressure polyethylene, has a waxy white resin, and its molecular structure is a non-linear structure with many long-chain branches.

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Compared to medium- and high-density polyethylene, LDPE has lower crystallinity and softening point, better flexibility, elongation, electrical insulation, and transparency, as well as higher impact strength. It is suitable for thermoplastic molding. The molding process has good molding processability.

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Currently, LDPE is mainly used as a film product, as well as in injection-molded products, medical devices, pharmaceutical and food packaging materials, blow-molded products, etc. In agriculture, packaging, electrical and electronic engineering, mechanical equipment, automotive industry, and daily use, various goods and other aspects have broad application prospects.

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In the future, as global LDPE production capacity continues to increase, the situation of excess capacity worldwide will not be fundamentally alleviated, but China still needs to import large quantities of LDPE from the Middle East and neighboring countries.

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Low-density polyethylene process technology is mature

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Overall, depending on the different polymerization reactors used, we can divide the LDPE production process into tubular process and kettle process.

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Among them, the tubular process mainly includes Germany's BasellLupotech and Imhausen, America's Exxon Mobil, Japan's Mitsubishi Oil Chemical, Germany BASF, and Dutch DSM Stamicarbon Tubular Process. In terms of production equipment, the tubular process has a simple polymerization reactor structure, is easy to manufacture and maintain, and the device construction investment is significantly lower than the kettle method. The products obtained from this process have better optical properties and are more suitable for film production.

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The representative kettle process mainly includes Italy's Eni, America's Exxon Mobil, and the STAR process. Compared to the tubular process, the single-line production capacity of the device is small, easy to switch, and the product molecules have more long chains and good extrusion coating properties, which are mainly used for the production of coating resin raw materials.

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Excess supply of low-density polyethylene worldwide

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In terms of supply, in recent years, with the completion of LDPE production units in the Asia-Pacific region, especially in China, global LDPE production capacity reached 24.583 million tons in 2017. China is the world's largest LDPE producer. China's production capacity is 3.525 million tons per year, accounting for 14.34% of all global production capacity. The second and third countries, the United States and Japan, have total production capacities in the world. Their shares were 13.3% and 5.14%, respectively.

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At the same time, as the three leading producers of LDPE production capacity, ExxonMobil's production capacity is 1.596 million tons/year, accounting for 6.49% of global production capacity; Leon del Basel's production capacity is 1.551 million tons/year, accounting for 6.31% of all global production capacity; Sinopec's production capacity is 1.475 million tons/year, accounting for about 6% of global production capacity.

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In terms of demand, in 2016, global LDPE consumption totaled 20.22 million tons. As the two most important consumers, China and the United States consumed 4.88 million tons and 2.285 million tons of LDPE, respectively, accounting for 24.14% and 11.3% of total global consumption, respectively. In addition, Northeast Asia is the world's largest net importer of LDPE, accounting for 45% of global net imports. The Middle East, Western Europe, and North America are net export regions, with global net exports accounting for 62%, 18.2%, and 17.6%, respectively. Among them, China is the world's largest importer of LDPE, accounting for about 23% of global imports.

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It is estimated that from 2016 to 2021, global LDPE consumption will increase by an average of 3% per year. By 2021, global LDPE consumption will reach 23.42 million tons, but the consumption structure will not change significantly, still mainly in film and sheet.

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Domestic low-density polyethylene is in short supply

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In terms of supply, as of the end of December 2017, China became the world's largest LDPE producer. As the main LDPE production areas in China, Guangdong, Jiangsu, and Beijing's total domestic production capacity accounted for 17.31%, 17.02%, and 12.48%, respectively. Yangzi-BASF is currently the largest LDPE producer in China, with a production capacity of 400,000 tons/year, accounting for 11.35% of total domestic production capacity; Yanshan Petrochemical, ranking second, has a production capacity of 380,000 tons/year, accounting for 10.78% of total domestic production capacity.

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(6) In the future, China's LDPE industry will only continue to improve the overall technical level, reduce costs, enhance product quality, and increase the intensity of new product development to meet actual production needs and promote the healthy and rapid development of related industries.