Low-density polyethylene (LDPE) is a thermoplastic made from the monomerethylene. It was the first grade of polyethylene, produced in 1933 by Imperial Chemical Industries (ICI) using a high pressure process via free radical polymerization. Its manufacture employs the same method today. The EPA estimates 5.7% of LDPE (recycling number 4) is recycled in the United States. Despite competition from more modern polymers, LDPE continues to be an important plastic grade. In 2013 the worldwide LDPE market reached a volume of about US$33 billion.