Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The global ethylene copolymer market size was valued at USD 45.0 Billion in 2021 and USD 46.5 Billion in 2022. It is projected to reach USD 61.1 Billion by 2029, exhibiting a CAGR of 4.0% over the estimated period. The rise can be attributed to the increasing preference for the usage of copolymers in the packaging, transportation, and construction industries.
This is further being supplemented by the surging demand across the furniture and packaging sectors, cites Fortune Business Insights™ in its research report, titled “Ethylene Copolymer Market, 2022-2029”.
List of Key Players Mentioned in the Report:
- LG Chem (South Korea)
- Tosoh Corporation (Japan)
- Redox (U.S.)
- INEOS Group Ltd (U.K.)
- Repsol (Spain)
- BASF SE (Germany)
- ExxonMobil Corporation (U.S.)
- SABIC (Saudi Arabia)
- Dow Chemical Company (U.S.)
- DuPont (U.S.)
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COVID-19 Impact:
Industry Growth Hindered Due to Disruptions in the Supply of Finished Goods
The COVID-19 pandemic has led to supply chain disruptions, leading to a restriction on the movement of materials. The crisis has further affected revenues in the automotive sector owing to the shutdown of manufacturing units and difficulties in the supply of raw materials such as coatings and packaging materials. These factors have impacted the demand for ethylene copolymers in various applications to a considerable extent.
Segments:
Ethylene Vinyl Acetate Copolymers Segment to Emerge Prominent Driven by the Property of Puncture Resistance
The ethylene vinyl acetate copolymers segment is anticipated to record appreciable expansion over the analysis period. The rise can be credited to a range of beneficial properties such as good puncture resistance and exceptional adhesion to many polar and nonporous substrates
Hot Melt Adhesives Segment to Gain Traction Owing to Surging Product Adoption in Food Packaging
On the basis of application, the ethylene copolymer market is segregated into thermo adhesive films, hot melt adhesives, asphalt modification, and others. Of these, the hot melt adhesives segment held a commendable share in 2021 and is poised to register appreciable growth over the forecast period. The surge can be attributed to the growing product demand from the lamination, food packaging, and woodworking industries.
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Packaging Segment to Register Lucrative Growth Impelled by Soaring Product Demand from Consumer Goods Sector
Based on end-use, the ethylene copolymer market is segregated into building & construction, packaging, textiles, automotive, and others. The packaging segment is projected to register commendable expansion over the coming years. The rise can be credited to the soaring product demand from several industries such as consumer goods, automotive, construction, footwear, and furniture.
Based on region, the ethylene copolymer market is segmented into Asia Pacific, Europe, Latin America, the Middle East & Africa, and North America.
Report Scope & Segmentation
| Report Attribute | Details |
| Market size value in 2022 | USD 46.5 Billion |
| Revenue forecast in 2029 | USD 61.1 Billion |
| Growth Rate | CAGR of almost 4.0% 2022-2029 |
| Base Year | 2020 |
| Historic Years | 2018- 2020 |
| Forecast Years | 2022- 2029 |
| Segments Covered | By End-Use, By Application |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | LG Chem (South Korea) Tosoh Corporation (Japan) Redox (U.S.) INEOS Group Ltd (U.K.) Repsol (Spain) BASF SE (Germany) ExxonMobil Corporation (U.S.) SABIC (Saudi Arabia) Dow Chemical Company (U.S.) DuPont (U.S.) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Report Coverage:
The report provides a comprehensive analysis of the key trends that are likely to drive industry expansion over the forecast period. It also gives an overview of the major factors that are set to impel business growth across various regions. It further comprises an account of the vital steps taken by major industry participants in consolidating their position in the ethylene copolymer market.
Drivers and Restraints:
Consumer Shift Toward Online Products on Account of Easy-to-buy Options
The ethylene copolymer market growth can be attributed to the soaring product demand for packaging purposes across a range of industries. These include food & beverage, electrical & electronics, construction, and consumer goods sectors. The rising packaging demand can be credited to the shifting consumer inclination toward online products due to the availability of a wide range of products and easy-to-buy options.
However, the prices of raw materials used for the production of ethylene are highly volatile. This is likely to hinder industry growth to some extent.
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Regional Insights:
Asia Pacific to Emerge as Leading Region Due to Rising Product Usage in the Construction of Commercial Buildings
The Asia Pacific ethylene copolymer market share is slated to register appreciable growth over the estimated period. The surge can be attributed to the expanding packaging sector in countries such as India and China. The regional growth is further driven by the upcoming construction projects, which is set to impel product usage in commercial and residential building applications.
Europe is expected to record substantial expansion driven by the trend of technically innovative buildings. Besides, the European Union (EU) is taking steps for increasing the usage of advanced materials for ensuring the structural safety of buildings. Such initiatives are poised to propel business growth in the region.
Competitive Landscape:
Market Players Enter Collaborations and Partnership Agreements to Sustain Industry Position
Several ethylene copolymer companies are undertaking research activities and product launches for the consolidation of their market position. Many players are focusing on the adoption of a series of strategic steps such as mergers and acquisitions for securing a competitive edge. Some of the additional steps include partnership agreements and collaborations.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Ethylene Copolymer Market
- Supply Chain Challenges
- Steps taken by companies to overcome the COVID-19 impact
- Potential Opportunities due to COVID-19 impact
- Global Ethylene Copolymer Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- By Type
- Ethylene Vinyl Acetate Copolymers
- Ethylene Acrylic Ester Copolymers
- Ethylene Acrylic Ester Terpolymers
- Ethylene Vinyl Acetate Terpolymers
- Others
- By Application
- Hot Melt Adhesives
- Asphalt Modification
- Thermo Adhesive Films
- Others
- By End-Use
- Packaging
- Building & Construction
- Automotive
- Textiles
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Reasons to Purchase this Report:
Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges. Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
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Key Industry Development:
April 2021 – SABIC would be responsible for the sales and marketing of a majority of petrochemical and polymer products offered by Saudi Aramco. The latter also announced its transfer of responsibilities for Pengerang Petrochemical Company, a Malaysian joint-venture between Sadara and S-Oil, to SABIC.
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