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CHEMICALS AND ADVANCED MATERIALS

Ionomer Resins Market Analysis by Resin Type (Ethyl Acrylic Acid, Polyvinyl Acetal, Perfluorinated Sulfonic Acid, and Others); by Application (Food Packaging, Cosmetic Packaging, Medical Device Packaging, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • LyondellBasell Industries N.V. -  By creating new reopen/reclose features, LyondellBasell and Henkel have taken re-closable packaging one step further and made it even more practical for consumers. This is a ground-breaking development in food packaging.

  • General Electric Company- A new product and packaging tag programme for GE Plastics' renowned LEXAN(R) brand of polycarbonate resin, which is utilised in tens of thousands of consumer product applications worldwide, was unveiled

Global Ionomer Resins Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

 ~ USD 1.0 Billion

Forecast Year Market Size (2033)

~ USD 2.5 Billion

 

The global ionomer resins market is estimated to garner a revenue of USD 2.5 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 1.0 Billion in the year 2022. The growth of the market can be attributed to the increasing application of ionomer resins in a variety of end-use industries, mainly, in various kinds of packaging. Moreover, the rising packaging industry, supported by increasing packaging consumption are estimated to drive the market growth. For instance, in the last ten years, packaging consumption in India has increased by 200%, from 4.3 kilogram per person per year (pppa) to 8.6 kg pppa as of FY20.

ionomer market overview image

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Owing to their exceptional barrier qualities, ionomer resins are often thermoplastic resins utilized in packaging applications. High clarity, adaptability, hardness, simplicity of fabrication, and cost efficiency are all qualities of these resins. Ionomer resins have low sealing temperatures and a great resistance to oil penetration. Hence, useful in food packaging too. Moreover, increasing demand for food packaging is predicted to drive the market growth. The Environmental Protection Agency (EPA) of the United States reports that 14.5 million tons of packaging and plastic containers were produced in 2018.

Global Ionomer Resins Market: Growth Drivers and Challenges

Growth Drivers

  • High Usage of Cosmetic Products – As per one of the cosmetic surveys, around 80% of American women are considered to use cosmetics daily, which translates to 161 million people spending USD 15,000 on them over the course of a lifetime. During the projected period, the market is expected to benefit from new packaging designs and rising demand for cosmetics, backed by increasing inclination of youth towards innovative packaging and increasing spending on cosmetics.

  • Growing Online Food Ordering System – The global revenue of the online food delivery market is predicted to increase by over USD 324 billion in 2022.

  • Boom in Ready-to-Eat Meals – It was predicted that in 2022, the ready-to-eat meals market in Asia will earn over USD 300 billion in total revenue.

  • Rising Urbanization – According to the Population Reference Bureau, Asia will have a 53% overall urbanization rate and more than 2.6 billion people will be living in urban areas in 2030.

  • Growing Chemical Import-Export– For instance, the Netherlands was the European Union (EU)'s top chemical importer in 2021. With a value of USD 27.73 billion, it accounted for 17.1% of all imports into the EU from non-EU nations.

Challenges

  • Easy Availability of the Substitute
  • High Moisture-Absorbing Property
  • Difficult Extrusion Method

The ionomer resins market is segmented and analyzed for demand and supply by application into food packaging, cosmetic packaging, medical device packaging, and Others. Out of these, the cosmetic packaging segment is estimated to hold the largest market share by the end of 2033. The market is expected to benefit from new packaging designs and rising demand for cosmetics, supported by the increasing cosmetic production across the globe. It was noticed that the cosmetics market in India is expanding twice as quickly as those in the United States and Europe. The growth rate, which was estimated at around 9 percent before the pandemic, is estimated to increase by +3 percent starting in 2022.

Major Macro-Economic Indicators Impacting the Market Growth

ionomer graph

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Ionomer Resins Market Regional Synopsis

Regionally, the global ionomer resins market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed to the increasing ready-to-eat food and fast food. It was observed that over one-third of American adults, or 36.6 percent of all adults, or roughly 85 million people, eat fast food each day, including pizza. People aged 40 to 59 (44.9%) and those aged 20 to 39 (44.9%) had greater percentages. Further, the rising usage of cosmetic products in the region is predicted to positively influence the market growth over the forecast period.

ionomer market share image

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The global ionomer resins market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global ionomer resins market includes the following segments:

      By Resin Type

  • Ethyl Acrylic Acid
  • Polyvinyl Acetal
  • Perfluorinated Sulfonic Acid
  • Others

      By Segment 2

  • Food Packaging
  •  Cosmetic Packaging
  • Medical Device Packaging
  • Others

Top Featured Companies Dominating the Global Ionomer Resins Market

  • LyondellBasell Industries N.V.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Entec Polymers
  • TER HELL & Co. GmbH
  • KPL International Limited
  • General Electric Company
  • Solvay
  • Dongyue Group
  • Asahi Kasei Corporation
  • Honeywell International Inc
  • DuPont de Nemours, Inc

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