The global ethylene-octene copolymer market is anticipated to improve its growth while riding on the strong demand for innovative solutions that can help improve processability, melt strength, and impact performance of certain materials used in the automotive, consumer products, and other industries. Ethylene-octene copolymer also finds use in industrial pallet wrap and other cast stretch film applications.
Demand Expected to Improve with High Use of Specialty Elastomers in Automotive TPO Compounds
The global ethylene-octene copolymer market is predicted to benefit from the high demand for polyolefin elastomers and specialty elastomers, especially in applications such as automotive thermoplastic polyolefin compounds. Ethylene-octene copolymer is studied to have remarkable compatibility with polypropylene, polyethylene, and other polyolefins. Combinations of ethylene-octene copolymer and some types of polyolefins could be used in low-temperature, housing, molded or extruded automotive interior and exterior parts, and other applications, and offer improved impact advantage. Other key applications of ethylene-octene copolymer could be catheters, blood bags, packaging products, and elastic fibers for apparel with enhanced UV resistance.
Ethylene-octene Copolymer with Excellent Performance, Flexibility Finds Use in Extrusion Applications
On the basis of type, the global ethylene-octene copolymer market is segmented into extrusion grade, general grade, and injection grade. Ethylene-octene copolymer is able to give superior performance in extrusion applications, which include profiles and tubing. Its favorable properties such as flexibility, toughness, low haze, excellent clarity, impressive forming capability, and high melt strength make ethylene-octene copolymer ideal for extrusion applications. It could also be used in the manufacture of lighter weight parts and in low modulus applications. The authors of the report have also studied application segments of the global ethylene-octene copolymer market, including packaging products, foams and footwear, wires and cables, consumer products, automotive parts, and others.
High Automobile Production and Demand for Consumer Goods Likely to Add to Growth in Asia Pacific
Asia Pacific is expected to become an important market for ethylene-octene copolymer due to the rising automobile production and high demand for consumer products. India and China could be at the forefront of automotive development in the emerging region. Rapid expansion of e-commerce, merger and acquisition activities, and digital transformation are anticipated to push forward the growth of the consumer goods industry in the region. The wire and cable market growing at a fast rate in the region could also help create opportunities for ethylene-octene copolymer manufacturers. Government initiatives supporting the electrical equipment industry are predicted to boost the demand for wires and cables in countries such as India.
Some of the leading competitors in the global ethylene-octene copolymer market are Dow, Borealis, Mitsui Chemical, LG Chemical, SABIC SK Nexlene Company, and ExxonMobil Chemical. Companies operating in the global ethylene-octene copolymer market are anticipated to increase product innovation, engage in research and development activities, and form partnerships with research organizations and other market players to gain a competitive edge. They could also launch new products and improve their product portfolio to gain further growth in the global ethylene-octene copolymer market.