Portland, OR, March 06, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cyclic olefin copolymer market garnered $825.4 million in 2021, and is estimated to generate $1.4 billion by 2031, manifesting a CAGR of 5.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $825.4 million |
| Market Size in 2031 | $1.4 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 260 |
| Segments covered | application, end use industry, and region |
| Drivers | The high chemical performance of cyclic olefin copolymer (COC) for packaging materials, including resistance to dilute bases, acids, and alcohol but susceptibility to ketones and aromatic solvents, as well as exceptional moisture barrier qualities and permeation resistance |
| Opportunities | The industry players are investing a lot of effort on the R&D of smart and unique strategies |
| Restraints | A lack of knowledge about the advantages of cyclic olefin copolymer |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global cyclic olefin copolymer market, owing to implementation of the global lockdown which resulted to disrupt the supply chain.
- The COVID-19 pandemic had created several uncertainties for cyclic olefin copolymer (COC) manufacturers. This was majorly owing to a significant impact on the application segment of the cyclic olefin copolymer that led to a shortage of raw materials. For instance, COC is widely used across packaging sector for floatable shrink label & films, making recyclable pouches, and others which had faced significant delays in terms of raw material availability.
The research provides detailed segmentation of the global cyclic olefin copolymer market based on application, end use industry, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on application, the packaging segment accounted for the highest share in 2021, contributing to more than half of the global cyclic olefin copolymer market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 6.0% from 2022 to 2031.
Based on end use industry, the medical segment accounted for the highest share in 2021, holding more than one-third of the global cyclic olefin copolymer market, and is expected to continue its leadership status during the forecast period. This segment is estimated to grow at the highest CAGR of 6.3% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than one-third of the global cyclic olefin copolymer market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 6.3% during the forecast period.
Leading market players of the global cyclic olefin copolymer market analyzed in the research include 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.
The report provides a detailed analysis of these key players of the global cyclic olefin copolymer market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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