Global Methylpentene Copolymer Market By Overview
Methylpentene copolymer is a thermoplastic polymer. It has properties of transparency, low moisture absorption, high thermal stability, good electrical and acoustical properties, chemical resistance, good dielectric characteristics, and excellent optical properties. Due to its property of transparency and robust processing behavior, copolymers of 4-methyl-1-pentene are commercially used. It has wide range of applications in laboratory apparatus, medical equipments, ovenware, wire and cable coating, sonar covers, ultrasonic transducer heads, speaker cones, and optical components.
Increasing usage of methylpentene copolymer in baking cartons, paper coatings, high-frequency films, and food packaging industry like gas permeable packages for fruit and vegetables is driving growth of the methylpentene copolymer market. Demand of methylpentene copolymer in industries like electrical and manufacturing, for production of electrical components such as LED molds and components of electric equipment such as coffee maker is increasing significantly. This increasing demand for methylpentene copolymer in growing electronics sector is expected to propel growth of the methylpentene copolymer market. However, growing environmental concerns is a major factor hindering growth of this market. Methylpentene copolymer is eco-friendly polymer, as halogen is not contained in this polymer. However, methylpentene copolymer is a type of plastic and any type of plastic in landfills takes several years to decompose and this leads to environmental pollution which is factor expected to restrain growth of the market in future.
Methylpentene copolymer market has been segmented on the basis of type, end user, and region.
On the basis of type, the methylpentene copolymer market has been segmented into sheets methylpentene copolymer, rods methylpentene copolymer, films methylpentene copolymer, and others. Based upon end user, the methylpentene copolymer market is divided into electrical and electronics, chemical, pharmaceuticals, packaging, automotive, and others.
On the basis of region, the methylpentene copolymer market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
By comparing with other regions, Asia Pacific is expected to dominate the methylpentene copolymer market over the forecast period. China, India, Japan, and South Korea are the major growth engines countries aids to growth of the methylpentene copolymer market of this region.
Global Methylpentene Copolymer Market By Competitive Landscape & Key Players
The key players operating in the methylpentene copolymer market include Mitsui & Co., Ltd, RTP Company; Westlake plastics company Inc., Honeywell International Inc., Goodfellow Inc., Saint Gobain Norton, and Merck group
FAQs
Methylpentene copolymer market accounted for US$ 441.1 Million in 2020 and is projected to register a moderate CAGR of 4.3%
The market report has been segmented on the basis of type, end user, and region.
The Methylpentene Copolymer Market is driven by factors such as the growing demand for lightweight and high-performance materials, increasing applications in the automotive and aerospace industries, and the unique properties of methylpentene copolymers, including high transparency, heat resistance, and low density.
High cost of methylpentene copolymers, limited awareness and adoption, and competition with other engineering plastics, acting as potential restraints for the Methylpentene Copolymer Market globally.
North America, Europe, Asia-Pacific, and Latin America. Asia-Pacific is expected to dominate the Methylpentene Copolymer Market, driven by the growth of end-user industries, especially in China and Japan, and the increasing demand for advanced materials in the region.
The prominent player operating in the methylpentene copolymer market includes Mitsui & Co., Ltd, RTP Company, Westlake plastics company Inc., Honeywell International Inc., Goodfellow Inc., Saint Gobain Norton, and Merck group.