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Ethylene Copolymers Market Size, Share, Trends Analysis, And Forecast To 2033
Ethylene Copolymers Market
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According to The Business Research Company's, The ethylene copolymers market size has grown strongly in recent years. It will grow from $50.43 billion in 2023 to $53.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to consumer electronics demand, construction and infrastructure use, sustainability initiatives, healthcare packaging needs, regulatory compliance and quality standards.
The ethylene copolymers market size is expected to see strong growth in the next few years. It will grow to $66.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rapid advancements in additive manufacturing, customization and high-performance requirements, automotive industry demand, rising demand from packaging industry. Major trends in the forecast period include strategic collaborations, sustainable packaging solutions, applications in construction and infrastructure.
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Market Drivers and Trends:
The growing preference for sustainable packaging is expected to propel the growth of the ethylene copolymers market going forward. Sustainable packaging refers to any packaging that minimizes its environmental impact and reduces the environmental footprint in comparison to less sustainable solutions. Ethylene copolymers are used in sustainable packaging as they are biodegradable and can be recycled. Ethylene-vinyl acetate (EVA) is a copolymer used to make packaging materials such as food wrappers, reusable shopping bags, and other products. For instance, in April 2023, according to the Buying Green Report, a survey of 9000 consumers by Trivium Packaging, a US-based provider of sustainable metal packaging, around 82% of the respondents were willing to pay more for sustainable packaging, and 59% of consumers look for the recyclability or sustainability information of the packaging. Therefore, the growing preference for sustainable packaging is driving the growth of the ethylene copolymers market.
Technological innovations are a key trend gaining popularity in the ethylene copolymer market. Major players are concentrating their efforts on creating innovative technologies to sustain their position in the ethylene copolymers market. For instance, in November 2022, Lummus Technology LLC, a US-based company specializing in the development of process technologies, launched a new range of polymer-based products, Novolen pure polypropylene (PP) technology. Novolen PPure is a gas-phase polypropylene process used to produce ethylene copolymers. By giving an enhanced hydrogen response with the catalyst and a new variety of polymer-based products that are targeted at automotive, healthcare, and food packaging materials, this process technique seeks to offer significant energy savings.
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Major Key Players of the Market:
Dow Inc., Sipchem Company, USI Corporation, Celanese Corporation, Exxon Mobil Corporation, BASF SE, Wacker Chemie AG, Tosoh Corporation, Saudi Basic Industries Corporation , Repsol S.A., LyondellBasell Industries N.V., Benson Polymers Limited, rxchemicals.com, Dycon Chemicals, EXEN CHEM, N SHASHIKANT & CO, Triveni chemicals, AVH Polychem Private Limited, Sushila Parmar International Pvt. Ltd., Amatya Impex Private Limited, Jai Radhe Sales, Mitsui Chemicals, Sumitomo Chemical Co. Ltd., Wells Plastics Ltd., DuPont de Nemours Inc., Arkema, Braskem, Chevron Phillips Chemical Company LLC, Formosa Plastics Corporation, Ineos Group Limited, Lotte Chemical Corporation, Reliance Industries Limited
Ethylene Copolymers Market 2024 Key Insights:
• The ethylene copolymers market size is expected to see strong growth in the next few years. It will grow to $66.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• The Role Of Increasing Waste Packaging Recycling Adoption
• Technological Innovations And Novel Product Launches
• Asia-Pacific was the largest region in the global ethylene copolymers market in 2023
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