NEWARK, Del, June 06, 2022 (GLOBE NEWSWIRE) -- The ethylene copolymers market is anticipated to have a steady CAGR of 4.2% during the period 2022-2032. The ethylene copolymers market size is predicted to grow from US$ 57.4 Bn in 2022 to US$ 86.6 Billion in 2032.
The global vehicle industry's increasing need for ethylene copolymers is regarded as a key driver driving the global ethylene copolymers market. Ethylene copolymers are used to make weatherstripping and seals for automobiles. These copolymers are added to motor oils as a supplement. Engine mounts, brake parts, and windshield wipers are among the products made with them.
Another major factor driving demand for ethylene copolymers is an increase in the need for industrial rubber for use in tire manufacturing. The worldwide vehicle rubber-molded components market is expected to be revolutionised in the near future as a result of research and development operations in the automobile and automobile component sectors.
During the forecast period, demand for ethylene copolymers s is expected to be driven by innovations (such as eco-friendly rubber components made from soy oil) and research labs working to develop better and more durable rubber materials (such as EPDM). The global e ethylene copolymers market is expected to benefit from an increase in demand for lightweight automotive components in order to produce more fuel-efficient automobiles.
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Because of its qualities, such as heat resistance, chemical reactivity, formulation flexibility, and cohesion and adhesion, demand for ethylene copolymers is gradually increasing. The packaging and automobile industries are also expected to boost the demand for ethylene copolymers. The demand for ethylene copolymers is projected to be fuelled by food packaging.
As per the ethylene copolymers market analysis, the industry is expected to increase further as customers become more mindful of waste packaging and recycling. Increased R&D initiatives for technological and equipment development, as well as creative product offerings by companies, are all contributing to the growth of the ethylene copolymer market.
The adoption of ethylene copolymers may be hampered by fluctuating raw material prices and regulatory regulations on various compounds. Nonetheless, there are chances for ethylene copolymers market players to engage in this market, given the consistent growth of the chemical processing industry and the automotive and packaging industries.
Key Takeaways:
- Over the next eight years, the rise of the automobile industry in some regions, such as India and China, is predicted to drive demand for ethylene copolymers.
- Due to the growing presence of significant companies in the food and beverage and consumer products industries in the United States and Canada, North America dominates the ethylene copolymers market.
- Ethylene Vinyl Acetate (EVA) segment type leads the ethylene copolymers market with the projected CAGR of 3.9% by 2032.
- Hot Melt Adhesives segment leads the market by application with the projected CAGR of 4.0% by 2032.
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Competitive Landscape:
Product launches, product approvals, and other growth initiatives such as patents and events are all being focused on by various companies. Acquisitions, as well as partnerships and collaborations, were among the ethylene copolymers market's growth tactics. These initiatives have paved the road for market players to expand their business and client base.
The major players covered in the ethylene copolymers market report are BASF SE, Celanese Corporation, Dow, Exxon Mobil Corporation, N SHASHIKANT & CO., Benson Polymers Limited, Dycon Chemicals, Triveni chemicals, AVH Polychem Private Limited., Sushila Parmar International Pvt. Ltd, Amatya Impex Private Limited., Jai Chemicals., Trinity Pigment Industries, Khushi Enterprises LANXESS, LyondellBasell Industries Holdings B.V, Sipchem and USI Corporation, among other domestic and global players.
The businesses are pursuing a variety of growth strategies and spending heavily in the development of technologically advanced, one-of-a-kind, and biodegradable products to change the ethylene copolymers market outlook.
Avantium N.V. was awarded a Horizon 2020 grant for 25 million euros ($28 million) to develop an innovative value chain for plant-based furan dicarboxylic acid and polyethene furonoate, which are used to make biodegradable products. The new expansion is being fueled by an increase in demand for renewable and biodegradable materials. Green polyethylene and bio-based EVA resin, for example, are guiding the chemical sector toward more sustainable innovation.
How does COVID-19 influence the Ethylene Copolymers Market?
The introduction of COVID-19, which the World Health Organization has labeled a pandemic, is having a significant influence on worldwide ethylene copolymers economic growth. Global GDP is anticipated to fall by 3% in 2020, according to the International Monetary Fund.
The economic impact of COVID-19 is expected to reduce global trade volumes by 13 to 32 percent in 2020, according to the World Trade Organization (WTO).
The ethylene copolymers market must now devise new tactics to deal with the pandemic while also propelling the future market growth.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Ethylene Copolymers Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Ethylene Copolymers Market, by Key Countries
4.2. Ethylene Copolymers Market Opportunity Assessment (US$ Mn)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Growth in Automation, By Country
4.5.3. Ethylene Copolymers Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Ethylene Copolymers Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Ethylene Copolymers Market Demand Analysis 2015-2021 and Forecast, 2022-2032
6.1. Historical Market Analysis, 2015-2021
6.2. Current and Future Market Projections, 2022-2032
6.3. Y-o-Y Growth Trend Analysis
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