Global Cyclic Olefin Copolymer Market is valued at approximately USD 825.40 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2022-2029. Cyclic Olefin Copolymer (COC) is an amorphous polymer that offers properties such as low density, better transparency, and advanced optical properties. COC elastomers are thermoplastics with high tensile strength, low birefringence, and chemical resistance. COC can withstand extreme temperatures and pressures while maintaining its physical characteristics compared to common materials like polypropylene and polyethylene. COC has a wide range of various characteristics including high melt flowability, excellent moisture, heat, and chemical resistance and the absence of halogens and BPA. Factors such as an increase in environmental concerns, rising number of government regulations, and ban on conventional plastics for packaging are the primary factors that are fostering market growth across the globe.

The rising application of the cyclic olefin copolymer across the packaging industries owing to its high resistance property is burgeoning the market demand. According to Statista, in 2021, the plastic packaging sector was estimated to value at USD 265.2 billion worldwide, which is projected to reach 385.5 billion by 2027. Thus, the flourishing growth of the plastic packaging sector is exhibiting a positive influence on the market growth in the global market. Moreover, rising investment in research and development activities, as well as the increasing number of strategic initiatives by the key market players are presenting various lucrative opportunities over the forecasting years. However, the lack of knowledge about the advantages of cyclic olefin copolymer and the availability of substitute polymers such as polyethylene and polypropylene are hindering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Cyclic Olefin Copolymer Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the expansion of production capacity, along with the rise in research activities regarding the production of cost-effective cyclic olefin copolymer. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing industrialization and urbanization, as well as growth of the packaging sector in the market space.

Major market players included in this report 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