The global ethylene copolymer market size stood 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 forecast period. The surge can be credited to the escalating demand for EVA foam in furniture, packaging, and protective clothing.
Fortune Business Insights™ has furnished this information in its research report, dubbed “Ethylene Copolymer Market, 2022-2029”.
COVID-19 Impact:
Industry Expansion Impacted Due to Hindrances in Raw Material Supply
The COVID-19 crisis has impacted product demand driven by the shutdown of automotive manufacturing units and the restricted movement of materials. The disruptions in supply chain have further affected industry expansion across various regions owing to the shortage of raw materials such as coatings and packaging materials. However, efforts toward economic revival are set to support market growth in the coming years.
industries.
Report Coverage:
The report gives an insight into the vital steps taken by major market players to secure a competitive edge. It further provides an overview of the key trends that are slated to propel industry expansion over the forthcoming years. The findings have been provided after extensive research and data collation from credible sources.
Drivers and Restraints:
Surging Product Adoption Due to Increased Packaging Demand from Construction Sector
The industry has recorded a rise in the consumption of ethylene copolymers owing to the advancing packaging demand from electrical & electronics, consumer goods, food & beverage, and construction sectors. Additional factor propelling the ethylene copolymer market growth is the increasing consumer shift toward online products. The inclination is being powered by the extensive availability of products and the flexibility of easy-to-buy options.
However, high volatility in the prices of raw materials could hamper industry expansion to a considerable extent.
Information Source: https://www.fortunebusinessinsights.com/infographics/ethylene-copolymer-market-102893
About Author
