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Edition: 7; Released: February 2023
Executive Pool: 793
Companies: 30 – Players covered include Arkema Group; DowDuPont, Inc.; Exxon Mobil Corporation; Honeywell International, Inc.; LyondellBasell Industries NV and Others.
Coverage: All major geographies and key segments
Segments: Application (Adhesives, Barrier Coating, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Ethylene Acrylic Acid (EAA) Copolymers Market to Reach US$453.9 Million by the Year 2026
Ethylene acrylic acid copolymer is an advanced and highly versatile polymer owing to its compelling properties that make it a suitable component for food & beverage packaging. The material features excellent substrate protection to improve barrier integrity as well as structural reliability. Commonly used for adhesion to diverse substrates like metalized films, paper and unprimed foil, ethylene acrylic acid copolymer offer enhanced resistance to fluids and ensures high mechanical resistance to abrasion, puncture and tear. Ethylene acrylic acid copolymer is known for its superior binding and thickening properties and thermo-plasticity along with high resistance to grease, water and solvents. Based on its excellent bond resistance, the polymer is used in acid food packaging applications. In addition, desirable adhesive properties of the polymer make it an effective option for different packaging tasks in the food packaging industry, like application to packaging substrates like foil, polyamides, paper and LDPE. Ethylene acrylic acid copolymers are witnessing increasing uptake in coating applications like textile, metal and paper coatings. These coating applications are credited to crosslinking characteristics with metal ions, adhesion on metal surface and enhanced barrier that aids flexible packaging.
Growth in the global market is set to be driven by strong demand from the food packaging industry, rising demand from end-use segments and strong focus on R&D activity. The market expansion is facilitated by rising consumption of these copolymers within safe food packaging applications due to their superior adhesion with different packaging substrates like paper, LDPE, foil and polyamides. Continuous expansion of the food packaging industry coupled with rapid industrialization and urbanization as well as changing lifestyles is expected to create lucrative avenues for providers of ethylene acrylic acid copolymers. The market growth is augmented by strong research focus on development of bio-based acrylic acid due to continuing transition from petroleum-derived feedstock options. High demand for 20wt% co-monomers in an increasing number of adhesive applications along with rising consumption in the building & construction industry is slated to further bolster the market growth.
Amid the COVID-19 crisis, the global market for Ethylene Acrylic Acid (EAA) Copolymers estimated at US$359.8 Million in the year 2023, is projected to reach a revised size of US$453.9 Million by 2026, growing at a CAGR of 6.2% over the analysis period. Adhesives, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$190.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Barrier Coating segment is readjusted to a revised 7.8% CAGR for the next 7-year period. This segment currently accounts for a 30.7% share of the global Ethylene Acrylic Acid (EAA) Copolymers market. Despite gradually losing its share over the coming years, the adhesives segment is estimated to hold the majority stake in the market due to increasing consumption of these copolymers in the food packaging industry. Ethylene acrylic acid copolymers are enjoying increasing popularity in adhesive applications due to their desirable properties like superior adhesion and thermo-plasticity.
The U.S. Market is Estimated at $56.3 Million in 2023, While China is Forecast to Reach $149.9 Million by 2026
The Ethylene Acrylic Acid (EAA) Copolymers market in the U.S. is estimated at US$56.3 Million in the year 2023. The country currently accounts for a 15.8% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$149.9 Million in the year 2026 trailing a CAGR of 6.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR while Rest of European market (as defined in the study) will reach US$15.6 Million by the end of the analysis period. Europe holds a significant share of the market due to continuous expansion of the food packaging industry. The regional is estimated to gain from ongoing changes in consumer lifestyle and increasing demand for packed food items. Growth in the Asia-Pacific market is driven by rising consumption of ethylene acrylic acid copolymers in different economies including Japan, China and India. The market growth is favored by increasing use of barrier coatings in the building & construction industry. Regional demand for ethylene acrylic acid copolymers is expected to be further bolstered by expansion of the automotive, industrial equipment, packaging, construction, textile and paper industries.
Barrier Coating Segment to Reach $152.7 Million by 2026
The barrier coatings segment is expected to gain from increasing adoption of these coatings in the building and construction industry. In the global Barrier Coating segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$64.2 Million will reach a projected size of US$107.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$38.9 Million by the year 2026, while Latin America will expand at a 8% CAGR through the analysis period. More
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