Methylpentene copolymer is used in autoclavable laboratory and medical equipment, cookware, and microwave components, owing to properties such as good temperature stability. According to Coherent Market Insights’ analysis, the market for reprocessed medical devices, which includes sterilizable and autoclavable medical devices, is expected to witness a robust CAGR of 4.67 % during the forecast period (2022-2030), which in turn will drive growth of the global methylpentene copolymer market.
Moreover, rising demand for methylpentene copolymer in LED molds due to its excellent electrical insulator properties is fueling growth of the global methylpentene copolymer market. According to the Coherent Market Insights’ analysis, global Methylpentene Copolymer market is projected to reach over US$ 527.34 Mn by 2030, exhibiting a CAGR of 4.67 % during the forecast period (2022-2030). This rapid growth in the LED lighting market is propelling growth of the global methylpentene copolymer market.
Europe is expected to be a lucrative region for players in this market with the U.K., Germany, and France being major growth engines in the region. This is attributed to rising demand from end-use industries such as electrical and electronics, chemical, pharmaceutical, and packaging, among others.
Methyl pentene copolymers is lightweight, high-temperature polyolefin with excellent electrical insulator properties all these key factors are fueling the growth of the global Methylpentene Copolymer Market.
Additionally, methylpentene copolymer offers properties such as heat resistance, impact resistance, and is lightweight, finding significant applications in the automotive industry.
Hence, growth in the automotive industry is expected to boost the Methylpentene Copolymer Market. For instance, according to the China Association of Automobile Manufacturers and the Society of Indian Automobile Manufacturers, in 2016, sales of cars in China were 28 million units.
However, due to rising environmental concerns is a significant factor hampering the growth of this market. Plastic pollution is a major ecological concern nowadays. Around 4 million tons of garbage is disposed of every day, out of which 0.60 Million tons are plastics
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