The global market is anticipated to have a steady CAGR of 4.2% during the period from 2023 to 2033. The overall market size is predicted to expand from USD 59.4 billion in 2023 to USD 89.6 billion by 2033. Previously, the ethylene copolymers market was thriving at a CAGR of 3.5% from 2018 to 2022, resulting in a market size of USD 57.4 billion in 2022.
Demand for ethylene copolymers is gradually increasing, owing to their qualities, such as heat resistance, chemical reactivity, formulation flexibility, and cohesion and adhesion. The packaging and automobile industries are also expected to boost the adoption of ethylene copolymers. Further, the market for ethylene copolymers is projected to be fuelled by food packaging.
The industry is expected to increase further as customers become mindful of waste packaging and recycling. Increased research and development initiatives for technological and equipment development, as well as creative product offerings by companies, are all contributing to the demand for ethylene copolymers.
The global market size may be hampered by fluctuating raw material prices and regulatory regulations on various compounds. Nonetheless, there are chances for market players to engage in this market, given the consistent growth of the chemical processing industry and the automotive and packaging industries.
Ethylene-propylene copolymers are amorphous, random, and rubbery polymers made by polymerizing monomers with the Ziegler–Natta catalyst. These are synthetic rubbers that can be used for both special and ordinary purposes.
Ethylene-propylene copolymers are available from many producers in worldwide ethylene-propylene copolymers market for usage in rubber and polyolefin modification. Moreover, in thermoplastic adhesive systems, ethylene-propylene copolymers are employed as basis polymers. Bitumen and TPO roofing membranes are another important application for these copolymers.
Building and construction, automotive, and electrical and electronics are some of the key end-user industries for ethylene-propylene copolymers (E&E). EPDM (ethylene-propylene-diene monomers) are preferred for electrical insulation, gaskets, and lamination.
As per ethylene copolymers market analysis, ethylene-propylene-diene monomers are in high demand. Manufacturers are seeking to offer novel products as a result of environmental concerns in industrialized countries of Europe. As a result, demand for ethylene-propylene copolymers is rising.
The global vehicle industry's increasing need for ethylene-propylene copolymers is regarded as a key factor driving the global market. Ethylene-propylene copolymers are used to make weather stripping and seals for automobiles. Also, 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 significant factor driving demand for ethylene-propylene copolymers is an increase in the need for industrial rubber for use in tire manufacturing. Additionally, the global vehicle rubber-molded components market is expected to be revolutionized in the forthcoming years as a result of research and development operations in the automobile and automobile component sectors.
The ethylene-propylene copolymers market share is expected to benefit from an increase in demand for lightweight automotive components to produce fuel-efficient automobiles during the projected period.
| Report Attributes or Data Points | Details |
|---|---|
| Global Ethylene Copolymers Market Valuation in 2022 | USD 57.4 billion |
| Estimated Global Market Share in 2023 | USD 59.4 billion |
| Forecasted Global Market Size by 2033 | USD 89.6 billion |
| Projected Global Market Growth Rate from 2023 to 2033 | 4.2% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 3.5% CAGR |
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The global market study indicates that there are a few factors that are expected to lead the market growth are:
Increased industry research and development activities, as well as modernization and technological developments in manufacturing procedures, might generate new chances for the market over the forecast period.
Countries all across the world are enforcing severe restrictions requiring the use of renewable and biodegradable materials. Because of its detrimental impacts on the environment, a new era of technological materials is replacing the old traditional manner of using plastics.
New-age polymers such as Polyethylene Furanoate (PEF), Polyhydroxyalkanoate (PHA), and other biopolymers are environmentally benign and renewable. Further, the growing threat of substitutes is restraining the market growth.
Principal Consultant
The substitution of bio-based EVA copolymers for petroleum-based EVA copolymers could be a watershed moment in the polymer industry. Sugarcane is used to make bio-based EVA, which is a renewable resource that helps to reduce greenhouse gas emissions by absorbing CO2.
For those wishing to incorporate it into a new product concept, green EVA is suitable for use in footwear, toys, general foams, and a range of other uses. This is expected to increase the global adoption of ethylene copolymers.
The market is dominated by food & beverages, which is developing at a CAGR of 14.2 percent. Because of the shift in consumer desire for branded packaged products, the packaged food and beverage market is seeing increased demand.
Chocolates, biscuits, snack bars, savory snacks, spreads, dressings, baked goods, baby food, sauces, health beverages & juices, and other foods all contribute to this increase. Because of the growing trend of online shopping and the opening of supermarkets and hypermarkets, urban consumers are increasingly gravitating toward branded foods. The market outlook has changed significantly owing to this.
| Category | By Product Type |
|---|---|
| Top Segment | EVA |
| Market Share in Percentage | 37.2% |
| Category | By Application |
|---|---|
| Top Segment | Hot Molt Adhesives |
| Market Share in Percentage | 51.2% |
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The ethylene-vinyl acetate (EVA) product type category dominated the overall market in terms of revenue in 2022 and is anticipated to expand at a CAGR of 6.9% over the next eight years.
EVA is frequently utilized as a shrinkage film in the packaging sector because it contains a large ratio of anti-blocking chemicals than polyethylene. It also can do low-temperature hot sealing, which saves energy and allows for fast packaging, which is projected to drive market expansion throughout the projection period. As a result, over the next eight years, the segment is predicted to expand at a steady CAGR.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 14.1% |
| Germany | 7% |
| Japan | 9% |
| Australia | 4.1% |
The growing tendency of outsourcing in Europe, particularly in strong economies like Germany, has boosted regional market demand. Manufacturing enterprises in the region have changed their operations to achieve optimal performance by increasing capacity utilization rates.
Pricing pressures, overcapacity, and sluggish medicine approvals by regulatory bodies are among the issues that regional enterprises face, which is also impacting the adoption of ethylene copolymers in the region.
Asia Pacific accounts for a considerable portion of the worldwide ethylene-propylene copolymers market with increased demand from the tire manufacturing sector in the area. Vehicle sales are expanding in the region as people's lifestyles change and their purchasing power grows, particularly in China and India. Ethylene-propylene copolymers are widely used in China, India, Japan, and Malaysia.
Ethylene-propylene copolymers are also in high demand in end-user sectors such as building and construction, industrial production, and electrical and electronics. Additionally, increased demand for EPDM (ethylene-propylene-diene monomers), increased adoption of growth strategies, and increased expansion efforts are some of the primary factors driving the ethylene-propylene-diene monomers market in Asia Pacific's growing countries.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 3.2% |
| China | 3.4% |
| India | 4.6% |
Companies are spending on research and development activities such as developing technical skills, developing cutting-edge equipment, and forming research partnerships, all of which assist companies in generating creative solutions. Further, companies engage in such operations to increase their market share by developing innovative products.
The global ethylene-propylene copolymers market is fragmented, with small, medium, and large firms competing for market share. Leading players in the global ethylene-propylene copolymers market are forming alliances to develop improved technologies for use in the manufacture of ethylene-propylene copolymers.
The businesses are pursuing a variety of growth strategies and spending hugely on the development of technologically advanced, one-of-a-kind, and biodegradable products.
Avantium N.V. was awarded a Horizon 2020 grant for 25 million euros (USD 28 million) to develop an innovative value chain for plant-based furan dicarboxylic acid and polyethylene furanoate, which are used to make biodegradable products.
The new expansion is being fueled by an increase in demand for renewable and biodegradable materials. Further, green polyethylene and bio-based EVA resin, for example, are guiding the chemical sector toward sustainable innovation.
The market is valued at USD 59.4 billion in 2023.
The growth potential of the market is 4.2% CAGR through 2033.
The market is estimated to reach USD 89.6 billion by 2033.
The United States is likely to expand at a staggering 14.1% CAGR by 2033.
DuPont, BASF SE, and Celanese Corporation are the key market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 5.1. Hot Melt Adhesives 5.2. Asphalt Modification 5.3. Thermo Adhesive Films 5.4. Others 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Ethylene Vinyl Acetate (EVA) 6.2. Ethylene Ethyl Acrylate (EEA) 6.3. Ethylene Butyl Acrylate (EBA) 6.4. Ethylene Propylene 6.5. Others 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Packaging 7.2. Building & Construction 7.3. Automotive 7.4. Textiles 7.5. Others 8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. DuPont 18.2. Celanese Corporation 18.3. The Dow Chemical Company 18.4. BASF SE 18.5. Sipchem 18.6. USI Corporation 18.7. LyondellBasell Industries N.V. 18.8. Wacker Chemie AG 18.9. ExxonMobil Chemical Company 18.10. Lanxess AG 19. Assumptions & Acronyms Used 20. Research Methodology
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Ethylene Copolymers Market
