Consumer Products and Automotive Applications: Prime Drivers of Ethylene Octene Copolymer Market

Introduction

Ethylene octene copolymer is used in an array of applications whose direct end-users are consumers. This is likely to aid in the significant growth of this market. However, the fluctuating consumer dynamics, geopolitical tensions among various economies, the volatile currency is likely to restrict the growth of this market to a certain extent. The market is dominated by large players, which gives smaller producers of specialty chemicals a chance to come up with their own production line of ethylene octene copolymer at a lower price. The number of suppliers and distributors in various regions and the strength of the domestic supply chain will ensure the dominance of players in a particular region.

Sales of the automotive sector have been low over the last two years. However, the automotive aftermarket and the rise of the original equipment manufacturers are likely to affect the growth of this market positively.

Impact of COVID-19

The global pandemic has disrupted global value chains. International trade has been put off for a while, and economies have been forced to follow the lockdown. This has resulted in the shutting down of various specialty chemical factories, owing to the absence of laborers. These factors will result in the implementation of more automation in the manufacturing of ethylene octene copolymer and will also result in several small-scale manufacturers of this product to shut down their business, owing to lack of demand. The surplus resulted due to temporary suspension of international trade might affect the price of this product and will also result in the growth of the threat of alternatives.

Competitive Players

Recent Developments

Segmentation

Ethylene Octene Copolymer Market: Segmentation

By Product Type

• Injection Grade
• Extrusion Grade
• General Grade

By Application

• Consumer Products
• Automotive Parts
• Foams and Footwears
• Wire and Cable
• Packaging Products
• Others