New York, United States, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Ethylene-propylene copolymers are produced by polymerizing monomers with the Ziegler-Natta catalyst and are amorphous, random, and rubbery polymers. These synthetic rubbers can be utilised for both unique and commonplace applications. “The automobile industry, food packaging industry and rubber molded components are some of the drivers of the market,”
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KEY DRIVERS
The need for ethylene copolymers in the global automobile sector is expected to continue to grow, and this is one of the main factors driving the market for these materials. Seals and weather stripping for automobiles are made using ethylene copolymers. A rise in the demand for industrial rubber for use in making tyres is another significant factor influencing ethylene copolymer demand. The main factors, among others, are the rising inherent advantages of ethylene copolymers, the rising demand for plant-derived beverages and lactose-free drinks, the rising packaging recyclability and cost benefits in terms of ambient storage and shipping, and the rising demand for the product from the various end-user industries.
GROWTH OPPORTUNITIES
Rising significant advantages of ethylene copolymers, rising preference for plant-derived beverages and lactose-free drinks, rising packaging reusability, and economic benefits are expected to drive the ethylene copolymers market growth. Increased profit margins, increased R&D activities for technical and equipment development, continuous innovation in organizations and rising significant advantages of ethylene copolymers are also expected to play a role. As consumers become more conscientious of waste packaging and recycling, the industry is anticipated to grow even more, according to the ethylene copolymers market report. The ethylene copolymer market is expanding as a result of increased R&D efforts for equipment and technology development as well as innovative product offerings by businesses.
REGIONAL ANALYSIS:
Over the course of the projected period, product demand is anticipated to increase due to the North American region's expanding automotive sector. The substance also emits a few volatile organic compounds (VOCs). Consequently, the U.S. and Canada's robust demand is pushing the North American market.
Market demand in the European region has been spurred by the rising trend of outsourcing, particularly in developed economies like Germany. The region's manufacturing businesses have reorganized their operations to boost capacity utilization rates and achieve peak performance. The regional businesses face a number of difficulties, including overcapacity, price pressures, and slowly approved drugs by regulatory bodies.
Due to the demand for functional and innovative pack formats, the Asia Pacific region is predicted to dominate the market for beauty and personal care packaging. The manufacturers situated in India and China are being encouraged to participate in this market by global names, practical packaging, multifunctionality, and competitive pricing. The product is therefore expected to experience rising demand over the estimated time frame.
KEY HIGHLIGHTS:
- The global ethylene copolymer market size is projected to reach USD 79.21 billion by 2030 at a CAGR of 4.13% 2022 to 2030.
- This market can be segmented based on type, applications, end-use, regions and competitors.
- By 2030, North America is anticipated to have the largest market share
COMPETITORS ANALYSIS:
Companies are making investments in R&D initiatives, including the creation of technical skills, the development of cutting-edge equipment, and the recruitment of research partners, all of which aid in the creation of novel solutions. These business endeavours are directed towards maximising market share through the creation of cutting-edge products.
Over the next few years, it is projected that numerous distribution channels and increased player competitiveness will create new opportunities. DuPont, Celanese Corporation, The Dow Chemical Company, BASF SE, Sipchem, USI Corporation, and Wacker Chemie AG are some of the market participants.
RECENT DEVELOPMENT:
- New Lnp Elcres Crx Pc copolymers from Sabic, which can withstand stress cracking in systems exposed to harsh disinfectants in the healthcare industry, are released in February 2020 at Md&M West 2020.
- SIBUR's PolyLab Research and Development Center will be the site of a partnership between BASF and SIBUR that was announced in June 2019 to create novel polymer solutions. In order to create a breakthrough range of polymers using BASF's plastic additives, both businesses decided to collaborate. They would use contemporary manufacturing and R&D technologies.
MARKET SEGMENTATION:
Application Outlook:
- Hot melt adhesives
- Asphalt modification
- Thermo adhesive films
- Others
Type Outlook:
- Ethylene-vinyl acetate (EVA)
- Ethylene ethyl acrylate (EEA)
- Ethylene Butyl acrylate (EBA)
- Ethylene Propylene
- Others
End-use Outlook:
- Packaging
- Building & Construction
- Automotive
- Textiles
- Others
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Central & South America
- The Middle East & Africa
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