Ionomer Resins Market Size

Ionomer Resins Market size was valued at USD 1.06 Billion in 2023 and is set to exceed USD 2.32 Billion by the end of 2036, expanding at over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ionomer resins is evaluated at USD 1.12 Billion. 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 is estimated to drive market growth. For instance, in the last ten years, packaging consumption in India has increased by 200%, from 4.3 kilograms per person per year (pppa) to 8.6 kg pppa as of FY20.

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 great resistance to oil penetration. Hence, useful in food packaging too. Moreover, increasing demand for food packaging is predicted to drive 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 2019.