Cyclic olefin copolymers (COC) are high-temperature polymers with exceptional optical properties, reliable chemical and heat resistance, and superior dimensional stability. Since its introduction decades ago, it has become a popularly used material in medical and packaging applications. The remarkably high purity and distinct properties of COC have made it the dominant material in advanced diagnostic and microfluidic utilization. The use of cyclic olefin copolymers in basic drug packaging in the form of prefilled syringes, vials, blisters, pouches, and lightweight wearables has become more common as innovative pharmaceutical molecules and formulations trend toward more chemical sensitivity to lower-purity plastics and glass. Polyethylene and polypropylene films use COC as a performance enhancer to analyze films and compete with more complicated, less recyclable compositions.
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Cyclic olefin copolymers are frequently used as a good alternative to polycarbonates (PC) and polymethacrylates (PMMA). Their optical characteristics are similar to those of PMMA, and their heat resistance is better than that of PC, whereas COCs’ dimensional constancy is more competent to both polymers. This has also helped the cyclic olefin copolymers market to grow in previous decades. There are numerous COCs available, produced by traditional addition polymerization. In terms of Topas COC, norbornene is used as the cyclic olefin. Norbornene is composed of the Diels-Alder addition of ethylene to cyclopentadiene. This is then reacted with ethylene in the presence of a metallocene catalyst to form cyclic olefin copolymers. The increasing demand for such polymers in global industries is expected to expand the growth of the cyclic olefin copolymers market during the forecast period.
Demand from Pharma, Medical Devices Industries Offer Stability in Cyclic Olefin Copolymers Market
The COVID-19 pandemic has caused extreme severance in industrial activities and consumer markets in various countries globally. As the coronavirus continues its spread, authorities worldwide have imposed quarantine and travel restrictions to control it. This has severely affected the financial conditions as several workplaces remain shut, factories lack workforce and permits, and the supply chain is still barred. It is also unwittingly creating disruptions in the demand trend in the cyclic olefin copolymers market worldwide.
The impact of the pandemic varies across different application segments of cyclic olefin copolymers. The market witnessed a shortage of medical equipment needed to diagnose and treat COVID-19 related conditions with the rising spread of the virus. This brought relief to the cyclic olefin copolymers market, as various governments relied on their production. However, countries with insufficient raw materials faced inadequacies due to strict global trade restrictions. Moreover, millions of employees in the cyclic olefin copolymers market started working tirelessly to provide the material that is needed at the frontlines. The demand for produced COCs helped keep the market stable during the start of the pandemic. Later, however, producers faced disruptions due to the unavailability of raw materials. From medical supplies to food packaging, COC proved essential in the effort to stop the spread of this virus. All these factors assure a consistent demand for the cyclic olefin copolymers market post-COVID-19 pandemic.
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