Ethylene Copolymer Market Major Companies Operating in the Globally by 2029
The global ethylene copolymer market is anticipated to gain traction from their increasing usage in the automotive industry. Fortune Business Insights™ published this information in an upcoming report, The report further states that ethylene copolymers have several beneficial properties. They can be treated with numerous additives. At the same time, they are highly resistant to ozone and electricity.
Fortune Business Insights™ lists out the names of all the renowned ethylene copolymer manufacturers operating in the global market. They are as follows:
- Tosoh Corporation
- ExxonMobil Chemical
- LG Chem
- Ineos Polyolefins
- BASF SE
- Wells Plastics
- Toray Industries
- Other prominent companies
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Drivers & Restraints-
Increasing Usage in Food Packaging to Bolster Growth
Ethylene copolymers are mainly utilized in the automotive and packaging industries across the globe. The increasing awareness about waste recycling and packaging is set to propel the ethylene copolymer market growth in the near future. Besides, food packaging is one of the most vital applications of this product. However, the production process of ethylene copolymer is very expensive, which, in turn, may obstruct growth.
Rising Demand from Consumer Goods Industry to Favor Growth in Europe
Regionally, Asia Pacific is expected to dominate throughout the forthcoming years by procuring the highest ethylene copolymer market share. This growth is attributable to the increasing demand for the product from China and India. This is happening because of the rising expansion of the packaging industry in these countries. Also, organizations in this region are gradually realizing the usage of ethylene copolymers for various applications.
North America, on the other hand, is set to exhibit considerable growth owing to the high demand from transportation, automobile, household products, and food & beverage industries. Europe is anticipated to remain in the third position on account of the rising demand from consumer goods and biomedical industries.
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Key Players Aim to Gain Competitive Edge through New Product Launches & Partnerships
The market for ethylene copolymers is fragmented with the presence of a large number of companies. Most of them are striving to gain a competitive edge by introducing new ranges of products. But, some of the others are engaging in collaborations and partnerships to develop new ethylene copolymers. Below are two latest industry developments:
- February 2020: SABIC unveiled its new range of LNP™ ELCRES™ CRX polycarbonate (PC) copolymers at MD&M West 2020. It is equipped with enhanced chemical resistance and is capable of preventing stress cracking.
- June 2019: BASF partnered up with SIBUR to create unique polymer solutions. The development process will take place at the latter’s PolyLab Research and Development Center, Russia.
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