Global Cyclic Olefin Copolymer Market is valued at approximately USD 825.40 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2022-2029. Cyclic Olefin Copolymer (COC) is an amorphous polymer that offers properties such as low density, better transparency, and advanced optical properties. COC elastomers are thermoplastics with high tensile strength, low birefringence, and chemical resistance.
COC can withstand extreme temperatures and pressures while maintaining its physical characteristics compared to common materials like polypropylene and polyethylene. COC has a wide range of various characteristics including high melt flowability, excellent moisture, heat, and chemical resistance and the absence of halogens and BPA. Factors such as an increase in environmental concerns, rising number of government regulations, and ban on conventional plastics for packaging are the primary factors that are fostering market growth across the globe.
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The rising application of the cyclic olefin copolymer across the packaging industries owing to its high resistance property is burgeoning the market demand. According to Statista, in 2021, the plastic packaging sector was estimated to value at USD 265.2 billion worldwide, which is projected to reach 385.5 billion by 2027. Thus, the flourishing growth of the plastic packaging sector is exhibiting a positive influence on the market growth in the global market. Moreover, rising investment in research and development activities, as well as the increasing number of strategic initiatives by the key market players are presenting various lucrative opportunities over the forecasting years. However, the lack of knowledge about the advantages of cyclic olefin copolymer and the availability of substitute polymers such as polyethylene and polypropylene are hindering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cyclic Olefin Copolymer Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the expansion of production capacity, along with the rise in research activities regarding the production of cost-effective cyclic olefin copolymer. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing industrialization and urbanization, as well as growth of the packaging sector in the market space.
Major market players included in this report are:
Zeon corporation
Borealis Group
Topas Advanced Polymers, Inc
MITSUI & CO.,Ltd
Jsr Corporation
Polysciences, Inc.
Entec Polymers
Lyondellbasell Industries Holdings B.V.
Ravago Group
VELOX GmbH
Recent Developments in the Market:
In April 2020, Mitsui Chemicals, Inc. declared that the company has established a new plant within Osaka Works, Takaishi, Osaka Prefecture in order to develop the APEL family of cyclic olefin copolymers. The new facility increases Mitsui Chemicals’ ability to produce APELTM by about 50%.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
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The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Application:
Packaging
Diagnostics
Others
By End Use: Industry:
Pharmaceuticals and Biotechnological
Medical
Chemical
Food and Beverage
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Some of the Key Questions Answered in this Report:
- What are the essential drivers of the world market? How huge will the market and increase price in upcoming years?
- What are the principal market tendencies that affecting the increase of the world market?
- Key vogue elements have an effect on market share in the world’s pinnacle regions?
- Who are the most vital market contributors and what techniques being they pursuing in the international market?
- What are the market possibilities and threats to which gamers are uncovered in the world market?
- Which enterprise trends, drivers and challenges are riding that growth?
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