Ionomer Resins Market Trends

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 throughout a lifetime. During the projected period, the market is expected to benefit from new packaging designs and rising demand for cosmetics, backed by the 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 – According to estimates in 2022, the ready-to-eat meals market in Asia earned approximately 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 – A lot of alternatives can be seen in the market which can emerge as a challenge for ionomer resins to make their way. For instance, high-density polyethylene (HDPE) and low-density polyethylene (LDPE) is considered to be their biggest substitute.
• High Moisture-Absorbing Property
• Difficult Extrusion Method