Global Cyclic Olefin Copolymers for Packaging – Market Overview
Cyclic olefin copolymers for packaging are increasingly used polymer in the packaging industry. Cyclic Olefin Co-polymers are advanced co-polymers having highest purity and several advantages such as break resistant, lightweight, temperature resistant, chemical resistant, transparent, and have excellent barrier properties. Manufacturers use cyclic olefin co-polymers in packaging of a wide range of products such as medical devices & diagnostic equipment, electronic devices, among others. Cyclic olefin co-polymers for packaging are used as an alternative to glass due to various additional properties such as these are transparent, light in weight, and break resistant. Cyclic Olefins Co-polymers for packaging are commercially used for manufacturing of lenses, reflection films, touch screens, liquid crystal displays, components of mobile devices, and among others. The global market for Cyclic Olefin Co-polymers is expected to grow during the forecast period due to increased use in packaging of various products.
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Global Cyclic Olefin Copolymers for Packaging Market – Drivers & Restraints
The global market for cyclic olefin copolymers for packaging is expected to grow significantly during the forecast period due to several reasons. The demand for the Cyclic Olefin Copolymers for packaging market is propelling due to increasing use in the manufacturing of packaging solutions such as vials, bottles, syringes, packaging films, lenses, medical devices, and among others. The primary driving factor for the growth of cyclic olefin co-polymers for packaging market is the increasing demand from the healthcare industry. Moreover, cyclic olefin copolymers for packaging are used in the packaging of electronics, pharmaceuticals, optical, and among other sectors. Cyclic olefin copolymers for packaging are easy to process. In many countries, especially in the Western Europe region, the use of conventional plastic as a raw material has been banned, owing to stringent rules and regulations. For instance, France banned the use of plastic cups.
This has led to governments across the world looking to shift their preference towards sustainable alternatives to conventional plastic resins, such as Olefin copolymers, for packaging. Therefore, it is anticipated that the global olefin co-polymers market will face lucrative opportunities for growth in the future as more manufacturers turn towards manufacturing of sustainable resins.
Despite the positive outlook, the growth of cyclic olefin copolymers for packaging market might be hampered due to the available alternative packaging solutions such as polypropylene, polyethylene films, and among others.
Global Cyclic Olefin Copolymers for Packaging – Market Segmentation
Globally the cyclic olefin copolymers for packaging market is segmented on the basis of application and on the basis of chemical structure.
- Electronics & Electricals
- Food & Beverages
- Chemical Structure (series)
Global Cyclic Olefin Copolymers for Packaging Market – Regional Outlook
Geographically, the global cyclic olefin copolymers for packaging market is divided into North America, Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Middle-East & Africa (MEA), and Japan. Some countries in North America and Western Europe regions are witnessed increased growth in recent years. The demand for cyclic olefin copolymers in APEJ and Middle East & Africa market is increasing owing to the increasing disposable incomes and rapid urbanization. The growth of cyclic olefin copolymers for packaging is anticipated to increase in the near future.
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Global Cyclic Olefin Copolymers for Packaging Market – Key Players
Some of the key players in the cyclic olefin copolymers for packaging market are Owens Illinois Inc., Polyplastics USA, Inc., The Dow Chemical Company, Stack Plastics, Topas Co. Ltd., among others.