According to Acumen Research and Consulting, the global Cyclic Olefin Copolymers market is expected to grow at noteworthy CAGR around 4.3 % throughout the forecast period and reach around US$ 865 million by 2026.
Cyclic Olefin Co-polymers are high-pure and highly break-resistant, lightweight, chemical-resistant, transparent and offer outstanding barrier characteristics, Co-polymers with high quality, highly transparent. Producer uses a broad variety of Cyclic Olefin Co-Polymers, including medical devices and diagnostic tools, electronic devices. Due to multiple extra characteristics such as transparency, light weight and rupture resistance Cyclic olefin co-polymers are used as an alternative to glass.
The report provides analysis of global Cyclic Olefin Copolymers market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
A labyrinth of legislation and regulations on multiple products, from drugs and medical devices to the smallest ingredient used when packaging such products, characterize the health care industry. Cyclic olefin copolymers become the most popular plastic used for health and packaging and provide producers and vendors with fresh possibilities. With an increasing amount of packaging businesses collecting the potential for innovation in the countryside of cyclic olefin copolymers, ARC provides a comprehensive evaluation of the future growth opportunities of this sector.
In its recent offering, ARC offers critical data on how cyclic olefin copolymers and producer strategies are being adopted across the industry so as to remain ahead of the curve in this area. The research found that global consumption of more than 54 kilograms of cyclic olefin copolymers was estimated to reach almost US$ 610 million in 2018. In a variety of end use sectors including packaging, diagnostics, optics and electronics, increasing demand for cyclic olefine copolymers is anticipated to stimulate development of this countryside in the coming years.
In a number of end-use sectors, including packaging, health care, electronics and optics, the demand for cyclic olefin copolymers was high. In 2018 the packaging sector consumed almost 20 kilograms of cyclic olefin copolymers, valued at more than 205 million USD. The packaging area is probably still the most profitable end-use sector for players in the coming years, with more than one third of the worldwide market in cyclic olefin copolymers.
The increasing demand for cyclic olefin copolymere resins is primarily due to the need to substitute high-cost PAN-based polymers which have a colloquial reputation in the medical packaging industries with an effective resin with high chemical resistance and optic transparency. The use of barrier products, including ethylene vinyl alcohol (EVOH), has affected sales of PANs in food packaging and this trend spreads through the pharmaceuticals sector with the increasing implementation of cyclic olefin copolymers.
Original equipment manufacturers in the health industry switch from PAN-based polymers to cyclic olefin copolymers, despite the regulatory restrictions associated with altering medical packaging products. In future years, the demand for packaging materials with superior chemistry efficiency will only increase, as the cyclic olefin copolymers in the embracing sector are likely to develop rapidly.
R&D in Market
While end-use sectors from electronics to healthcare, cyclic olefin copolymer producers and distributors are developing their future business strategies based on these end users ' vibrant demands. Leading companies strengthen their research & development facilities in order to innovate cyclic olefin copolymers ' performance features in order to meet the end-user requirement. In particular in developed areas such as North America and Europe, leading vendors of cyclic olefin copolymers focused on enhancing the size of distributive units. With the growth of their patented manufacturing techniques market leaders are likely to strengthen their positions to expand their product range. Manufacturers are developing their policies that focus on the packaging sector as their target sector. However, cost-effective plastic threats continue to limit the development of cyclic olefin copolymers. Whereas they emerge as a commercial alternative in packaging for PAN-based polymers, cheaper and more frequently available plastics such as acrylics and polycarbonates substitute for cyclic olefin copolymers. Whilst big businesses like PolyPlastics Inc. SABIC, and Johnson & Johnson are boosting the implementation of cyclic olefin copolymers, the use of coste-compatible plastics is likely to stay high for tiny and medium-sized end-users on this market, due to their superior chemical characteristics.
Among the top four firms, including TOPAS Advertised Polymers GmbH, JSR Corporation, Zeon Corporation, and Mitsui Chemicals, Inc., the worldwide market for cyclic olefin copolymers is very consolidated. The region is made into a high income pocket for major players as well as fresh entries; most frontrunners in the cyclic olefin copolymers landscape are based in Asia Pacific. In the Asia-Pacific area with powerful presence of incumbents in Japan and China, nearly half the world share of cyclic olefin copolymers is reported. In this field, leading businesses have acquired their place in the cyclic olefin copolymers industry and have competed for their technological skills. Mitsui Chemicals, Inc. purchased, for instance in January 2018, ARRK Corporation, the Japanese development assistance service provider, in order to strengthen the company's network in global product offering. The TOPAS Advanced Polymers GmbH announced in March 2018 its commitment to reinforce its place in the Cyclic Olefin copolymer scene in the Americas by acquiring the Poly plastics Group, a worldwide provider of engineering thermoplastics. Market leaders also focus on extending their manufacturing and product development capacity by investments in R&D. The Zeon Corporation plays a major role in cyclic olefin copolymer production worldwide and has taken a stand on their approaches to expand their production skills. In October 2018, it announced its intention to create a fresh line of production for delay films, produced from cyclic olefin copolymers, used in large-screen TVs. It has also expressed plans to expand its ZeonorFilmTM Optical Film production ability, which is produced also using cyclic olefin copolymers, in order to enhance its presence in a broad variety of end-use sectors.
Region based, North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa are split into a world cyclic olefin market for copolymers. As regards manufacturing in Asia Pacific, ZEON CORPORATION is the world's leading manufacturer of cyclic olefin copolymers, and maintains a significant share in the worldwide cyclic olefin copolymer industry.
Japan causes cyclic olefin copolymers manufacturing and consumption in Asia Pacific. He is the only producer in Asia Pacific to produce cyclic olefin copolymers. JSR Corporation, Mitsui Chemicals Inc. and ZEON CORPORATION are three leading firms working on the cyclic olefin copolymer markets in Japan. The demand for cyclic olefin copolymers in Asia Pacific is high, due in the main to variables such as elevated levels of population.
It is estimated that the existence of quickly growing economies such as India and China will provide possibilities in the near future for the cyclical oil copolymer industry in Asia Pacific.
Global Cyclic Olefin Copolymers Market, By Grade
Global Cyclic Olefin Copolymers Market, By End Use
Global Cyclic Olefin Copolymers Market, By Geography
The market research study on “Cyclic Olefin Copolymers Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Cyclic Olefin Copolymers market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The global cyclic olefin copolymers market is conquered by four major players that operate. The top four players —ZEON CORPORATION, TOPAS Advanced Polymers GmbH, Mitsui Chemicals, Inc., and JSR Corporation TOPAS Advanced Polymers GmbH operates in Germany, while JSR Corporation, ZEON CORPORATION, and Mitsui Chemicals, Inc. in Japan.