Global Market Study on Ionomer Resins Growth Rate, Gross Margin, Competitive Situation and Trends, Forecast

 

Ionomer Resins Market: Resins Used in Wide Range of Packaging Applications

• Ionomer resins are generally thermoplastic resins used for packaging applications owing to their superior barrier properties. These resins are known for their high clarity, adjustability, toughness, ease of fabrication, and cost effectiveness. Ionomer resins possess high resistance to oil penetration and low sealing temperature.
• Ethylene acrylic acid copolymer (EAA) is a highly used ionomer resin. Generally, it is utilized as a tie-layer or adhesive resin that can easily adhere to polar substrates, aluminum foil, metallized films, papers, iron, steel, and glass. EAA resins provide significant resistance to acid, oil, and grease. They also provide excellent resistance to puncture, tear, and abrasion.
• Major applications of ionomer resins include coatings, inks, surface coating films for golf balls, food packaging, sports equipment, and molded bottles that are used for cosmetics applications

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Rise in Demand from Food Packaging Industry to Drive Market

• Demand for ionomer resins in the manufacture of composite films is gaining popularity in the food packaging industry. These films, which are made up of ionomer resins, provide good heat sealability. Ionomer resins possess excellent oil and grease resistance owing to their unique polarity.
• Ionomers with ethylene-acrylic acid resins have excellent adhesion power, resulting in high film strength and barrier properties. These ionomers are widely used for the packaging of food materials such as meat, poultry, fish, seafood, cheese, edible oil, vegetables etc
• Proper packaging of food using ionomer resin improves its shelf life of the product since it is kept in a sterile environment.
• Significant expansion of the food packaging industry can be ascribed to the rise in concern about food safety. Rise in consumer awareness about the harmful effects of consumption of contaminated food is compelling manufacturers to concentrate on product quality.

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Cosmetic Container Applications to Offer Attractive Opportunities

• Rise in application of ionomer resins in the manufacture of cosmetic containers is anticipated to offer lucrative opportunities for the market in the near future. These containers, made using ionomer resins, are light in weight and unbreakable.
• Advancements in injection molding technologies are likely to boost the ionomer resins market, as they lower the production time and cost of manufacturing of containers of various shapes
• Innovative package designs and increase in demand for cosmetics owing to the growth in young population are estimated to offer lucrative opportunities for the market during the forecast period. Innovation in packaging is another factor positively impacting the overall cosmetics packaging industry, thereby offering lucrative platform for the ionomer resins market
• Cosmetics manufacturers prefer containers that can improve the lifespan of the product. Packaging solutions that are made up of ionomer resins are heat resistant and possess superior mechanical and chemical properties. All these factors are likely to offer promising opportunities for the ionomer resins market.

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Stiff Competition from Other Resins Used for Packaging Applications to Restrain Ionomer Resins Market

• Rise in consumption of resins for packaging applications such as High Density Poly Ethylene (HDPE), Low Density Poly Ethylene (LDPE), Poly Ethylene Terephthalate (PET), and Polypropylene (PP) is expected to restrain the global ionomer resins market
• Compared to other resins, ionomer resins quickly absorb moisture and may lead to a decrease in product quality. Furthermore, difficulties associated with the extrusion technology is anticipated to hamper the market. Substitute resins such as LDPE and HDPE are more compatible for the extrusion technology.

Key Players in Market

The global ionomer resins market is moderately concentrated, with the top manufacturers accounting for major share. Prominent players operating in the global ionomer resins market seek to enter into partnerships for the development of ionomer resins applications and commercialization of its technology.

Key players operating in the ionomer resins market include:

• DuPont de Nemours, Inc
• Honeywell International Inc
• Asahi Kasei Corporation
• Exxon Mobil Corporation
• Solvay
• GE Plastics

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