Methylpentene copolymer is a thermoplastic polymer. It shows properties such as transparency, low moisture absorption, high thermal stability, good electrical and acoustical properties, chemical resistance, good dielectric characteristics, and excellent optical properties. Copolymers of 4-methyl-1-pentene are commercially used, owing to its transparency and robust processing behavior. It is used in various applications such as laboratory apparatus, medical equipment, ovenware, wire and cable coating, sonar covers, ultrasonic transducer heads, speaker cones, optical components, baking cartons, animal cages, and heat resistant non-woven materials, among others.
Global methylpentene copolymer market was valued at US$ 350.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.67 % during the forecast period (2022 to 2030).
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2021: | US$ 350.00 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 4.67 % | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Mitsui & Co., Ltd and RTP Company Inc. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Drivers
Methylpentene copolymer is a lightweight, high temperature polyolefin. It is available in the form of sheets, rods, tubes, and films. Rising applications of methylpentene copolymer in baking cartons, paper coatings, release film and paper, high-frequency films, and food packaging such as gas permeable packages for fruit and vegetables is driving growth of the global methylpentene copolymer market. According to the World Packaging Organization (WPO), packaging market is expected to be valued at US$ 1 trillion over the forecast period, which in turn will drive demand for methylpentene copolymer in the packaging industry.
Methylpentene Copolymer Market have been tracking the direct impact of COVID-19 on this market, as well as the indirect impact from other industries. This report analyzes the impact of the pandemic on the Methylpentene Copolymer market from a Global and Regional perspective. The report outlines the market size, market characteristics, and market growth for Methylpentene Copolymer industry, categorized by type, application, and consumer sector. In addition, it provides a comprehensive analysis of aspects involved in market development before and after the Covid-19 pandemic. Report also conducted a PESTEL analysis in the industry to study key influencers and barriers to entry.
Figure 1. Global Methylpentene Copolymer Market Value Share (%), By Region, 2021
Market Restraints
Demand for methylpentene copolymer in manufacturing of electrical components such as LED molds and components of various electric equipment such as coffee maker is increasing significantly. Furthermore, growing electronics sector in the region is expected to aid in growth of the market
Market Trends
Figure 2. Global Methylpentene Copolymer Market value Share (%), By End-use Industry, 2021
Recent Developments
Competitive Section
Major players operating in the global methylpentene copolymer market include Mitsui & Co., Ltd and RTP Company Inc.
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.
Market Dynamics
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
Key features of the study:
Detailed Segmentation:
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