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Cyclic Olefin Copolymer Market By Grade (Films, Resins), By Industry (Healthcare, Electronics, Packaging, Optics, Diagnostics, Others), By Region - Global Industry Analysis, Size, Share, Growth, Investment and Forecast | 2022 to 2027

Published: January, 2022
ID: 8713
Pages: 175

Cyclic Olefin Copolymer Market Size 2022-2027

Cyclic Olefin Copolymers (COCs) Market was calculated to be USD 583 million in 2021 and is estimated to reach USD 879 million by 2026, registering a CAGR of 6.8% over the forecast period 2021 - 2026.

Cyclic Olefin Copolymer (COC) is a class of amorphous thermoplastic polymers that exhibit high transparency, good thermal and chemical resistance, and excellent dimensional stability. The COC is ideal for optical data discs and high precision objectives and finds many applications in the fields of packaging, diagnostics, electronics, and healthcare.

The rapidly growing medical technology sector, serving optical applications in the form of camera lenses, sensors, and displays, is a key driver of global market growth. Healthcare applications such as medical technologies are expected to drive growth prospects due to increased healthcare awareness and rising healthcare spending. According to the World Health Organization, 800 million people spend at least 10% of their family budget on health care, and about 100 million people are pushed into extreme poverty by their health expenses.

The main drivers of demand for COCs have been their application to a wide range of packaging in the pharmaceutical sector due to their unique properties. As packaging performance and regulatory requirements become increasingly difficult in the years to come, cyclic olefin products will continue to increase their share of this important market.

Cyclic Olefin Copolymer Market Drivers:

The global cyclic olefin copolymer industry is experiencing increasing growth driven by its increasing demand from various end-use sectors including packaging, healthcare, electronics and optics. It has become one of the most sought-after substances in the healthcare and packaging industry due to its excellent chemical resistance and optical transparency, required to replace expensive PAN-based polymers. Growing government regulations around the world related to the use of conventional plastic resins for packaging are leading to greater adoption of sustainable alternatives, such as cyclic olefinic resins, which are pushing the industry even further. Hence, the growth of the packaging segment is expected to boost the global Cyclic Olefin Copolymer industry during the outlook period.

Cyclic Olefin Copolymer Market Restraints:

However, the growth of cyclic olefin copolymers for the packaging market could be hampered by alternative packaging solutions, such as polypropylene, polyethylene, and other films.

Opportunities in the Cyclic Olefin Copolymer Market:

In many economies, especially in the Western European region, the use of conventional plastic as a raw material has been banned due to strict rules and regulations. For example, France has banned the use of plastic cups. This has prompted governments around the world to shift their preference to sustainable alternatives to conventional plastic resins, for example, olefin copolymers, for packaging. Hence, the global Cyclic Olefin Copolymers market is supposed to face lucrative growth opportunities in the future as more sustainable resin manufacturers develop. In end-use sectors, from electronics to healthcare, producers and distributors of cyclic olefin copolymers develop their future business strategies based on the dynamic demands of these end users. Leading companies are strengthening their research and development resources to innovate the performance characteristics of cyclic olefin copolymers to meet the needs of end users. In particular, in developed regions like North America and Europe, the major suppliers of cyclic olefin copolymers have focused on improving the size of distribution units. With the growth of their proprietary manufacturing techniques, market leaders are likely to strengthen their positions to expand their product line. Manufacturers develop their policies that focus on the packaging industry as a target industry. However, threats from profitable plastics continue to limit the development of cyclic olefin copolymers. While emerging as a commercial alternative in PAN-based polymer packagings, cheaper and more commonly available plastics, such as acrylics and polycarbonates, are replacing cyclic olefin copolymers.

Challenges in the Cyclic Olefin Copolymer Market:

Manufacturers strategize by focusing on the packaging industry as the target end-use industry. However, the threats posed by low-cost plastics continue to constrain the growth of cyclic olefin copolymer market players. Although large companies such as SABIC, PolyPlastics Inc., and Johnson & Johnson are promoting the adoption of cyclic olefin copolymers, due to their superior chemical properties, the adoption of cost-competitive plastics will likely remain high among small and medium-sized enterprises' end users in this market.

CYCLIC OLEFIN COPOLYMER MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021– 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

6.8%

Segments Covered

By Grade, By Application, By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Owens Illinois Inc., Polyplastics USA, Inc., The Dow Chemical Company, Stack Plastics, TOPAS Advanced Polymers GmbH, ZEON CORPORATION, Mitsui Chemicals, Inc., and JSR Corporation

Cyclic Olefin Copolymer Market Segmentation as per the research report:

Cyclic Olefin Copolymer Market By Grade:

  • Films
  • Resins 

Resins are the most widely used in the medical packaging industry because they offer high chemical resistance and optical transparency.

Cyclic Olefin Copolymer Market By Application:

  • Packaging
  • Healthcare
  • Optics
  • Electronics
  • Others 

The cyclic olefinic polymer comprises only one type of monomer and therefore is widely used in packaging solutions, such as vials, bottles, syringes, packaging films, lenses and medical devices. However, the cyclic olefin copolymer is composed of different kinds of monomers and therefore is mainly used in electronics and optical industries. The demand for cyclic olefin copolymers has increased in the medical, healthcare, and packaging industries due to their properties such as high purity, moisture barrier, clarity, and sterilization compatibility. There has been an increased demand for cyclic olefin copolymers in the optical industry due to their low refractivity and now they are widely used in optical films, lenses, touch screens, light guide panels, reflection films and other components for mobile devices, screens, cameras, copiers, and other optical assemblies.

Cyclic Olefin Copolymer Market - By Region:

  • North America 

  • Europe 

  • Asia Pacific

  • Latin America 

  • Middle East & Africa 

North America and Western Europe are among the key markets which are also commercial suppliers of chemicals such as specialty chemicals, bulk chemicals, etc. The key companies in this market are situated in North America and Western Europe. This region has experienced a series of transitions in terms of chemical production and respective applications of end-use industries. The preference for bio-based raw materials has been fundamental in the development of ecological alternatives in these regions. In addition, regulatory authorities have imposed strict guidelines regarding environmental concerns and potential health risks associated with exposure. This was the most decisive in the Western European region from a competitive point of view. Some of the major economies in these regions include the USA, Germany, the UK, France, Canada, Italy, Spain, etc.

Asia-Pacific and the Middle East are expected to experience substantial growth in the global Cyclic Olefin Copolymers market during the foreseen period. This demand is linked to the growth of major end-use industries/applications such as packaging, healthcare, optics, electronics, and others. The key countries in the APAC region are China, South Korea, Japan, India, Australia, etc. The Middle East includes UAE, Saudi Arabia, Iran, Israel, Egypt, etc. Eastern Europe has been greatly ruled by Russia and Turkey with operations by the region's major chemical giants. The rest of the globe, which consists of South America and Africa, has huge potential for the cyclic olefin copolymer market. Global companies have increasingly invested in these regions to strengthen their presence and take advantage of the potential market. The key economies in these regions for cyclic olefin copolymer markets are Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Recent Developments:

  • In April 2020, Mitsui Chemicals was planning to extend its production of cyclic olefin copolymers.

  • In Oct 2020, TOPAS’ cyclic olefin copolymer earned the prestigious European recyclability certification.

  • In Sept 2020, Polyplastics decided to expand its production ability of TOPAS® Cyclic Olefin Copolymer (COC).

Cyclic Olefin Copolymer Market Key Players:

  1. Owens Illinois Inc
  2. Polyplastics USA, Inc
  3. The Dow Chemical Company
  4. Stack Plastics
  5. TOPAS Advanced Polymers GmbH
  6. ZEON CORPORATION
  7. Mitsui Chemicals, Inc
  8. JSR Corporation

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 By Grade                     

                                5.1.1 Introduction           

                                5.1.2 Films          

                                5.1.3 Resins       

                                5.1.4  Y-o-Y Growth Analysis, By Grade  

                                5.1.5  Market Attractiveness Analysis, By Grade                

                                5.1.6  Market Share Analysis, By Grade

                5.2 By Industry                 

                                5.2.1 Introduction           

                                5.2.2 Healthcare              

                                5.2.3 Electronics               

                                5.2.4 Packaging

                                5.2.5 Optics        

                                5.2.6 Diagnostics              

                                5.2.7 Others      

                                5.2.8 Y-o-Y Growth Analysis, By Industry              

                                5.2.9 Market Attractiveness Analysis, By Industry            

                                5.2.10 Market Share Analysis, By Industry            

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Grade

                                                6.1.3.3 By Industry

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Grade

                                                6.1.4.3 By Industry

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Grade

                                                6.1.5.3 By Industry

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 ZEON Corporation                   

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 TOPAS Advanced Polymers GmbH                   

                8.3 Mitsui Chemicals Inc.                              

                8.4 Owens Illinois Inc.                    

                8.5 polyplastics USA Inc.                               

                8.6 The Dow Chemical company                               

                8.7 Stack Plastics                              

                8.8 JSR Corporation                        

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  1. Global Cyclic Olefin Copolymer Market By Region, From 2022 - 2027 ( USD Million )

  2. Global Cyclic Olefin Copolymer Market By Grade, From 2022 - 2027 ( USD Million )

  3. Global Films Market By Region, From 2022 - 2027 ( USD Million )

  4. Global Resins Market By Region, From 2022 - 2027 ( USD Million )

  5. Global Cyclic Olefin Copolymer Market By Industry, From 2022 - 2027 ( USD Million )

  6. Global Healthcare Market By Region, From 2022 - 2027 ( USD Million )

  7. Global Electronics Market By Region, From 2022 - 2027 ( USD Million )

  8. Global Packaging Market By Region, From 2022 - 2027 ( USD Million )

  9. Global Optics Market By Region, From 2022 - 2027 ( USD Million )

  10. Global Diagnostics Market By Region, From 2022 - 2027 ( USD Million )

  11. Global Others Market By Region, From 2022 - 2027 ( USD Million )

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