The Cyclic Olefin Polymer Market Size was valued at USD 952.4 Million in 2023 and the Worldwide Cyclic Olefin Polymer Market is Expected to reach USD 1660.3 Million By 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: 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, and other key vendors.
New York, United States , May 28, 2024 (GLOBE NEWSWIRE) — The Global Cyclic Olefin Polymer Market Size to Grow from USD 952.4 Million in 2023 to USD 1660.3 Million By 2033, at a Compound Annual Growth Rate (CAGR) of 5.72% during the forecast period.
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COP’s outstanding optical clarity and chemical resistance make it ideal for high-end packaging, particularly in the pharmaceutical and food industries. The increased emphasis on sustainable and bio-based materials is driving the market, as COP is both recyclable and environmentally friendly. Its exceptional properties, including as low water absorption and high transparency, make it a desirable material for electronics and optical components. Complex manufacturing techniques and strict quality standards increase production costs, restricting market acceptance. The cyclic olefin polymer market is predicted to grow significantly due to increased demand in the packaging and medical sectors, technical advancements, and a shift towards environmentally friendly materials. However, it faces challenges like as high production costs and volatile raw material prices.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the “Global Cyclic Olefin Polymer Market Size By Type (Homopolymers, Copolymers), By Process Type (Injection Molding, Extrusion, Blow Molding), By End-Use Industry (Packaging, Automotive, Pharma, F&B, Electronics, Chemicals, Optical), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033.”
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Insights by Type
The copolymers segment accounted for the largest market share over the forecast period 2023 to 2033. Copolymers have a wide range of characteristics and properties depending on the monomers employed in their manufacturing. Their versatility makes them valuable in a variety of industries, including packaging, healthcare, electronics, and automotive. Copolymers can be customised to meet specific performance requirements, such as increased chemical resistance, optical clarity, heat resistance, or adhesion. Copolymers are in high demand in a range of industries because of their ability to be tailored to specific end-use applications. Copolymers are used extensively in the healthcare business, specifically in medical packaging, diagnostics, medication delivery systems, and equipment. Their biocompatibility, transparency, and ability to withstand sterilisation treatments make them desirable materials in various applications, which contributes to the growth of the copolymers market.
Insights by Process Type
The injection molding segment is dominating the market with the largest market share over the forecast period 2023 to 2033. Injection moulding is a popular method of producing plastic parts with high precision and efficiency. COPs are ideal for injection moulding due to their low melt viscosity, excellent flow properties, and dimensional stability, making them ideal for producing complex and intricate parts with near tolerances. COPs are used in a multitude of industries, including packaging, healthcare, electronics, automotive, and more. The growing demand for COP-based products in these industries has led to a rising need for injection-molded COP components and parts. The electronics and automotive sectors also use injection-molded COP parts for optical lenses, LED components, sensors, and interior car components. The high optical clarity, dimensional stability, and resistance to vehicle fluids make COPs excellent for these applications.
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Insights by Region
North America is projected to hold the largest share of the global hemp fiber market over the anticipation timeframe. Consumer awareness and demand for hemp-derived goods have increased, as has research into new applications in a variety of industries. The North American continent emerges as the greatest market region, with the United States and Canada at the forefront. The legalization of hemp in these countries has created a favourable market environment, resulting in a well-established infrastructure for cultivation, processing, and distribution. Consumer demand for hemp-based products in North America has grown since individuals want natural and organic solutions.
Asia Pacific is expected to grow at the fastest CAGR growth of the global hemp fiber market during the anticipation timeframe. Because of environmental concerns and the desire for sustainable and environmentally friendly products, there has been an increase in interest in the use of hemp fibre in Asia-Pacific in recent years.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cyclic Olefin Polymer Market 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, and other key vendors
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Recent Developments
- In May 2023, Borealis launched Stelora, a new family of synthetic polymers that prioritise sustainability and performance. The product is made by mixing polypropylene (PP) with COCs, a new transparent and high-purity polymer.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Cyclic Olefin Polymer Market, Type Analysis
- Homopolymers
- Copolymers
Cyclic Olefin Polymer Market, Process Type Analysis
- Injection Molding
- Extrusion
- Blow Molding
Cyclic Olefin Polymer Market, End Use Analysis
- Packaging
- Automotive
- Pharma
- F&B
- Electronics
- Chemicals
- Optical
Cyclic Olefin Polymer Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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