Ethylene copolymer market forecast at $86.6 billion by 2032
Pune, India – The ethylene copolymers market size is predicted to grow from US$ 57.4 Bn in 2022 to US$ 86.6 Billion in 2032. Previously, the ethylene copolymers market was thriving at a CAGR of 3.2% (2016-2021), resulting in a market size of US$ 55.43 Billion in 2021 according to Future Market Insights.
Owing to 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 adoption of ethylene copolymers. The market for ethylene copolymers is projected to be fuelled by food packaging.
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 demand for ethylene copolymers.
The ethylene copolymers 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 the ethylene copolymers 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 most producers in the worldwide ethylene-propylene copolymers market for usage in rubber and polyolefin modification. 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 major 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 European countries. 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 driver driving the global ethylene-propylene copolymers market. Ethylene-propylene copolymers are used to make weather stripping 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-propylene copolymers is an increase in the need for industrial rubber for use in tire manufacturing. The global vehicle rubber-molded components market is expected to be revolutionized in the near future as a result of research and development operations in the automobile and automobile component sectors.