Cyclic Block Copolymer (CBC) Market Size, Share, Growth, and Industry Analysis, By Type (Injection Molding, Extrusion Molding, Blow Molding), By Application (Medical Devices and Consumables, Food and Beverage Packaging, Optical Products (Optical Lenses, Light Guide Plates, etc.), Other) and Regional Forecast to 2031

Updated On: 29 April 2024

CYCLIC BLOCK COPOLYMER (CBC) MARKET REPORT OVERVIEW

The global cyclic block copolymer (CBC) market size expanded rapidly in 2022 and the market is projected to grow substantially by 2028, exhibiting a prodigious CAGR during the forecast period.

The market is also poised for substantial growth in the coming years, driven by several factors. Cyclic Block Copolymer (CBC) is a class of amorphous thermoplastic polymers with high transparency, good chemical and heat resistance, and excellent dimensional stability. CBC is ideal for optical data discs and high-precision lenses, and finds wide applications in packaging, diagnostics, electronics and healthcare. A new class of cyclic Block copolymer (CBC) film extrusion is in significant demand for food packaging.

The rapidly growing medical technology sector, which offers optical applications in the form of camera lenses, sensors and displays, is a major driver of global market growth. Healthcare applications such as medical technologies are expected to boost growth prospects due to increasing health awareness and rising healthcare costs. According to World Health organization, 800 million people spend at least 10 percent of their household budget on health care, and about 100 million people are pushed into extreme poverty by health care costs.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has created several uncertainties for manufacturers of cyclic block copolymers (CBC). This was largely due to the significant impact of the cyclic olefin copolymer application segment, which resulted in raw material that impacted the packaging industry. CBC is widely used in the packaging industry, for example for floating shrink labels and films, for the production of reusable bags and others where the availability of raw materials has been significantly delayed.

LATEST TRENDS

"Growing Applications Of Copolymer In The Pharmaceutical Industry Is Driving The Growth Of The Market "

More and more people have become aware of the advantages of cyclic block copolymer (CBC) market, and their demand has also increased significantly in recent years. The remarkable purity and resulting drug stability of CBC syringes are made from pre-filled syringes. The purity and dimensional stability of CBC are used in portable insulin delivery systems where they provide high efficiency and precise drug control. Diagnostically, single-use CBC products for disease diagnosis and testing are becoming more common and typically replace polypropylene when more accurate analysis is required. In addition, due to its special properties, CBC proves to be an excellent material for the design and creation of microfluidic components for analytical systems, research and biomedical devices. Such factors are likely to provide immense opportunities for growth of the market during the forecast period.

CYCLIC BLOCK COPOLYMER (CBC) MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Injection molding, extrusion molding, and blow molding.

The injection molding segment had the most important market share in terms of volume and value in 2022. It continues in this position with the widespread use of injection molding. It is used to make items of various sizes and shapes, including household goods, automotive, marine and recreational vehicles.

By Application

Based on application the global market can be categorized into medical devices and consumables, food and beverage packaging, optical products (optical lenses, light guide plates, etc.), other.

Cyclic Block Copolymer (CBC) has been used as a material in the pharmaceutical industry.  Cyclic Block Copolymer is used to make implants, pacemakers and surgical instruments, etc. It is also used in the manufacture of heart and aortic valves. Cyclic block copolymer (CBC) is widely used in various medical devices such as blood pumps, heart-lung machines, artificial hearts, and others..

DRIVING FACTORS

"Increasing Demand in The Automotive Industry To Boost The Market"

One of the key driving factors in the cyclic block copolymer (CBC) market growth is the rapidly increasing demand for cyclic block copolymer in the automotive industry. Cyclic block copolymer used in the automotive industry is converted into polypropylene, a propylene polymer. As a result of the large-scale production of vehicles, the demand for products used in the production of bumpers, interior moldings, instrument panels, batteries and frames, fenders, door moldings and other machinery has increased.

"Increasing Use In Sectors Such As Pharmaceuticals And Healthcare To Expand The Market"

Another driving factor in the market is the unique properties of cyclic block copolymer. Increasing use of cyclic block copolymer in sectors such as pharmaceuticals and healthcare is expected to fuel the market. Because of their exceptional purity and special properties, cyclic olefin copolymers have become a standard material in cutting-edge diagnostic and microfluidic applications. Because newer pharmaceutical compounds and formulations are more chemically sensitive to lower purity polymers and glass, highly durable materials such as CBC material are increasingly used in primary drug packaging, including prefilled syringes, vials, blisters, pouches and lightweight portables. . The benefits of using CBC in medical design have increased its use among many medical device manufacturers. Through injection molding, CBC resin can reproduce very fine details down to the sub-micron scale. In addition, it has remarkable dimensional stability and low shrinkage, enabling volumetric accuracy that few competing resins can match. All such characteristics and advantages of cyclic block copolymer are expected to increase the market share of cyclic block copolymer during the forecast period.

RESTRAINING FACTORS

"Limited High Temperature Applications And Fluctuating Oil Prices Potentially Impede Market Growth"

One of the key restraining factors in the market is Limited high temperature applications and fluctuating oil prices which can hinder the market growth. The use of cyclic block copolymer at high temperature is very limited. This is because cyclic block copolymer is a very flexible, low melting point soft material that will melt under the heat of the CNC cutter. Therefore, such a factor should slow down the growth of the market in the coming years. High flammability of random copolymers and fluctuations in crude oil prices hinder the market growth. A major obstacle to the growth of the cyclic block copolymer industry was strict safety regulations in production and transportation. It is toxic, highly flammable and dangerous when exposed to high pressure and temperature.

CYCLIC BLOCK COPOLYMER (CBC) MARKET REGIONAL INSIGHTS

"Asia Pacific to Dominate the Market due to Shifting Consumer Preferences Towards Advanced Electronics And Packaging"

Asia-Pacific has emerged as the most dominant region in the global cyclic block copolymer (CBC) market share and expected to generate the highest revenue in the global market during the forecast period. CBC demand is driven by the huge expansion that developing countries like China and India are seeing in many sectors, including automotive, packaging and electronics. The region and a growing middle class with greater purchasing power, along with shifting consumer preferences towards advanced electronics and packaging, are expected to increase demand for cross-border cooperation. Additionally, the availability of CBC materials from Asia-Pacific suppliers at lower prices than global brands is expected to increase competition in the market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of copolymer options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in market, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• USI Corporation (Taiwan)
• GO YEN CHEMICAL INDUSTRIAL ( GYC Group) (Taiwan)
• Kuraray (Japan)
• LG Chem (South Korea)

INDUSTRIAL DEVELOPMENT

• July 2022: Canadian company Heartland Polymers has fully commissioned a copolymer plant at its Heartland petrochemical complex in Alberta, Canada, with a planned production capacity of 525,000 tons of copolymer per year.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.