LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global ethylene copolymers market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global ethylene copolymers market will grow at a CAGR of close to 7% during the forecast period. The progress in the food packaging industry is a major factor driving the market’s growth.
Packaging keeps the food products safe from external conditions that can potentially cause damage and ensures that the quality is maintained. Consumer preference towards high-quality fresh food products with long shelf lives has compelled manufacturers to develop safe packaging materials. Technological innovations in packaging help in preserving the quality of food products by protecting them from gases, UV rays, and environmental damages. Ethylene copolymers are extensively used in the food packaging industry. Therefore, the growth in the food packaging industry will simultaneously drive growth in the global ethylene copolymers market.
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In this report, Technavio highlights the increasing popularity of waste packaging recycling as one of the key emerging trends driving the global ethylene copolymers market:
Increasing popularity of waste packaging recycling
Various regulatory bodies and governments across the globe implement policies to improve waste management solutions. The purpose of their policies is to reduce the negative impact of waste on the environment. During the process of industrial manufacturing, a lot of waste is generated that impacts the environment in a negative manner. Regulatory bodies identify these wastes as one of their top four priorities.
“Packaging and plastic waste form a large portion of the overall waste. A large amount of non-degradable plastics that are used during the process of packaging causes toxic emissions during ignition. The manufacturing process involves those raw materials that have short lifespans, thereby turning into waste rapidly. The recycling of packaging waste has a positive influence on the environment. Properties of ethylene copolymers such as toughness, flexibility, and recyclability have enabled their high adoption in the food packaging industry,” says a senior analyst at Technavio for research on plastics, polymers, and elastomers.
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Global ethylene copolymers market segmentation
This market research report segments the global ethylene copolymers market into the following applications (hot melt adhesives, asphalt modifications, and thermo adhesive films) and key regions (the Americas, APAC, and EMEA).
The hot melt adhesives segment held the largest market share in 2017, accounting for nearly 46% of the market. The market share for this application is expected to increase nearly 1% by 2022.
APAC was the leading region for the global ethylene copolymers market in 2017, accounting for a market share of around 40%. By 2022, APAC is expected to continue its dominance in the market and register a positive growth of nearly 1%.
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