Ethylene octene copolymers are principal resources for formulating hot-melts (pressure sensitive and non-pressure sensitive) glues appropriate for usages such as bookbinding, wood binding, packaging, and numerous other commercial as well as industrial applications.
Business Research Insights states that the global ethylene octene copolymer market size was USD 781 million in 2019 and is projected to reach USD 1,296.8 million by 2026, displaying a CAGR of 8.0% during the 2022-2027 period.
COVID-19 Impact on the Market
Adverse influences of COVID-19 were perceived in the ethylene octene copolymer industry by the players operating in it. The surging jeopardy of infection resulted in the shutdown of numerous production divisions, be it medical devices, automotive, or even chemical factories. Stringent restrictions were imposed on traveling, which resulted in constrained supply chain activities. Regulated movement of raw materials for production purposes also swayed the market severely.
Below mentioned are the top 6 ethylene octene copolymer players functioning in the market.
1. Dow Chemical Company
The Dow Chemical Company (TDCC) is based in the U.S. and is an international chemical corporation located in Midland, Michigan, U.S. It is a subsidiary of Dow Inc. The corporation is amongst the three biggest chemical manufacturers across the globe.
Dow manufactures chemicals, plastics, and agricultural material. With its presence in around 160 nations, it provides employment to roughly 54,000 people across the world. Dow has been named as chemical companies’ chemical company, as it sells to other sectors rather than directly to end-users. It is a participant in the American Chemistry Council.
2. Mitsui Chemicals
Mitsui Chemicals is a Japan-based chemical company registered on the Nikkei with business operations in Europe, Southeast Asia, Japan, China, and the U.S. It is a part of Mitsui Corporation. The company is primarily involved in performance materials, petrochemicals as well as primary chemicals and operational polymeric constituents.
3. ExxonMobil Chemical
Exxon Mobil Corporation, popularly known as ExxonMobil, is an American and global oil & gas corporation located in Irving, Texas. It is the parent company of ExxonMobil Chemical. It is among the world's biggest businesses in terms of revenue, and ExxonMobil varied from the first to sixth biggest communally traded corporation by market capitalization from 1996 to 2017. The company was graded third across the world in the Forbes Global 2000 list in 2016.
4. SABIC SK Nexlene Company Pte. Ltd. (SSNC)
SABIC SK Nexlene Company Pte. Ltd. functions as a petrochemical corporation. The corporation provides plastics, chemicals, agri-nutrients, metals, and additional plastic products. It emphasizes on building and functioning of additional factories across the globe.
5. LG Chemical Ltd.
LG Chemical Ltd., frequently and commonly termed as LG Chemical, is the biggest Korean chemical company situated in Seoul, South Korea. It was the 10th biggest chemical company across the globe in terms of sales in 2017. It was first founded as the Lucky Chemical Industrial Corporation, which produced cosmetics. It is presently an exclusive Business-to-Business company (B2B) since its consumer products division was spun off into LG Household & Health Care.
The company has a total of 8 production divisions in South Korea and a network of 29 business sites across 15 nations. This network involves a holding corporation based in China, 14 overseas production subsidiaries, five promotion subsidiaries, seven representative workspaces, and two research & development centers.
6. Borealis
Borealis is a global supplier of polyolefins, base chemicals, and fertilizers. The corporation has its headquarters based in Vienna, Austria. It presently employs roughly about 6,900 people, and functions in more than 120 nations. The company also operates principally in Europe, with production facilities in Belgium, Central Europe (Austria and Germany), Finland, and Sweden. It also operates the compounding units in Brazil, Italy, and the U.S., two invention centers, its European Innovation Headquarters, as well as customer service units in various nations.
Application of Ethylene Octene Copolymer
The application of ethylene octene copolymer has been listed in various sectors such as consumers & goods, chemical and materials, electronics & electrical, automotive & transportation, and so on.
However, as the demand for automobiles is increasing, owing to the rising number of automotive enthusiasts, this is directly propelling the production and demand for this material. Also, the surging utilization of this material in other sectors, such as the footwear industry, wires, and cables, will also help in growing the market revenue.