Ethylene Acrylic Acid ( copolymer) is a product of the reaction of ethylene with acrylic acid. The ethyl ester of acrylic acid is called ethylene acrylic acid copolymer (EAA). It is an odourless liquid with a distinct taste. EAA offers exceptional flexibility, hardness, and adhesive and sealing qualities.
In addition to providing substrate protection for increased structure dependability and barrier integrity, ethylene acrylic acid copolymer (EAA) is frequently used for adhesion to unprimed foil, paper, and metalized film. The product combines ethylene and acrylic acid, which has the characteristics of both compounds, with substrate protection for enhanced structural dependability and barrier integrity. It is understood that this can be separated in aqueous alkali and amines. Without the use of primers, the copolymer resins offer good adherence to polar substrates. They are extensively employed, among other things, in the packing of laminated tube containers for dry food, liquid aseptic containers, and cables.
Market Analysis
Currently worth US$ 332 million in revenue, the global ethylene acrylic acid (EAA) copolymers market is expected to reach US$ 600 million by the end of 2032. Over the next 10 years, the need for ethylene acrylic acid copolymers is expected to grow at a strong 6.1% CAGR.
Europe has recently been the world’s top producer of EAA copolymer, and this trend is expected to continue. In 2019, the European market accounted for around 39.45% of the global market, followed by the Asia-Pacific region (23.29%) and North America (33.24%). The main countries developing EAA copolymer at the moment are South Korea, the USA, etc. Their facilities are spread across the US, Spain, and Belgium. A minor operator in APAC by the name of Japan Polychem Corporation built its factory in Japan using DuPont technology and assistance from Mitsubishi. The major vendors in the world market for EAA copolymers include SK Global Chemical, Dow, ExxonMobil Chemical, Honeywell, etc. More than 85% of the global market was occupied by the Top 3 in 2019. The main countries developing EAA copolymer at the moment are South Korea, the USA, etc. Their facilities are spread across the US, Spain, and Belgium. A minor operator in APAC by the name of Japan Polychem Corporation built its factory in Japan using DuPont technology and assistance from Mitsubishi. The major vendors in the world market for EAA copolymers include SK Global Chemical, Dow, ExxonMobil Chemical, Honeywell, etc. In 2019, the top 3 accounted for more than 85% of the global market. Globally renowned providers include SK Global Chemical, Dow, ExxonMobil Chemical, and others with cutting-edge technology and a dominant market share.
Many aspects that might potentially boost ethylene acrylic acid copolymer shipments in the future include rising demand for environmentally friendly and sustainable polymers, shifting lifestyle trends, massive use of EAA copolymer resins in food packaging, rising investments in research and development of bio-based acrylic acids, rising construction activities, and expanding automotive production.
Sales Analysis
The Asia Pacific area is likely to experience the quickest rate of growth in ethylene acrylic acid copolymer sales during the forecast period, making it the most advantageous market for major industry participants.
The primary factors anticipated to drive market expansion through 2032 include increasing investments in infrastructure development, increasing need for barrier coatings, thriving automotive manufacturing, and rising food packaging demand as a result of shifting lifestyle preferences in the region. Over the next ten years, it is anticipated that the markets in Asia Pacific will be particularly lucrative in Japan, China, India, Korea, and Indonesia.
Market Driving Factors
One of the key reasons propelling the growth of the ethylene acrylic acid (EAA) market is the rising use of ethylene acrylic acid copolymers in secure food packaging. The ethylene acrylic acid (EAA) market is growing at a faster rate due to the increased widespread adoption of the commodity in the food packaging industry for various packaging applications due to their adhesive qualities with packaging substrates such as LDPE, paper, polyamides, and foil. The ethylene acrylic acid (EAA) market Is further influenced by the high consumption of the 20 weight percent comonomer goods amongst customers for adhesives applications and the growing preference for adhesives applications from the building and construction industry.
Additionally, the ethylene acrylic acid (EAA) market is positively impacted by the expansion of the food packaging sector, fast urban and industrialization, growth in research project investment, and expansion of research and development activities.
Moreover, the research being done to create bio-based acrylic acid offers lucrative prospects to the companies in the ethylene acrylic acid (EAA) market from 2021 to 2028.
Hindering Factors
On the other hand, the growth of the ethylene acrylic acid (EAA) market is anticipated to be hampered by price volatility in raw materials. In the forecast period of 2021–2028, the market for ethylene acrylic acid (EAA) is expected to face challenges due to the growth in environmental concerns about the product.
Market Segmentation
Global EAA Copolymer Market Size and Scope The EAA Copolymer sector is divided into segments by geography, nation, business, product type, application, and sales channels. By using the study as a valuable resource, competitors, stakeholders, and other market participants will indeed be able to gain the upper hand. For the years 2016 to 2027, the segmentation study focuses on sales, revenue, and forecasts by region, country, firm, type, application, and sales channels.
- Segment by Type, the EAA Copolymer market is segmented into
- Extrusion Grade EAA Copolymer
- Injection Grade EAA Copolymer
- Segment by Application, the EAA Copolymer market is segmented into
- Packaging
- Powder Coating
- Hot Melt Adhesive
- Water-based Solvent
- Other
- Regional and Country-level Analysis:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of Middle and East Africa
Competitive Analysis
Details and statistics about firms are provided by the EAA Copolymer competitive business landscape. The research provides in-depth analysis and precise data on player revenue for the years 2016–2021. Additionally, it provides thorough analysis backed up by trustworthy data on player sales and earnings for the years 2016 through 2021. Included information includes a description of the company, its main operations, an introduction to the EAA Copolymer product, recent advancements, and EAA Copolymer sales by location, kind, application, and sales channel.
The major players of this market include:
- SK Global Chemical
- Dow
- ExxonMobil Chemical
- Honeywell