Global Methylpentene Mopolymer Market is estimated to be valued at US$ 350.00 Million in 2021, according to the Global Methylpentene Copolymer Market Report, by End-use Industry (Electrical and Electronics, Chemical, Pharmaceuticals, Packaging, Automotive, and Others) and by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.
Global methylpentene copolymer market was valued at US$ 350.00 Mn in 2021. Methylpentene Copolymer Market is expected to register a CAGR of 4.67 % over the forecast period (2022–2030), to reach US$ 527.34 Mn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/methylpentene-copolymer-market-1572
Key Trends and Analysis of the Global Methylpentene Copolymer Market:
Among end-sue industry, packaging segment accounted for the largest market share in the global methylpentene copolymer market in 2021. Rapid growth in packaging industry is one of the major factors driving growth of the global methylpentene copolymer market. For instance, in March 2018, RTP Company one of the leading manufacturers of engineering thermoplastics is expanded into Poland to provide a consistent supply of their products to customers operating in Europe.
Key Takeaways of the Global Methylpentene Copolymer Market:
- North America is the second-largest market valued at US$ 350.00 Mn thousand in 2021 and is expected to expand at a CAGR of 4.67 % during the forecast period. Pharmaceutical applications of methylpentene copolymer include autoclavable medical and laboratory equipment. Furthermore, growing pharmaceutical industry in the U.S. is another factor driving growth of the methylpentene copolymer market. According to the International Trade Association (ITA), total pharmaceutical sales in 2021 was pegged at US$ 350.00 Mn in the U.S.
- The U.S. Food and Drug Administration (FDA) approved use of methylpentene copolymer in components intended for use in contact with food and beverages in CFR Title 21 Sec. 177.1520. Increasing application of methylpentene copolymer in food processing machinery and films and coatings for gas permeable packaging of food and beverages is driving growth of the methylpentene copolymer market in this region(U.S.)
- Latin America is projected to exhibit significant growth in the global methylpentene copolymer market over the forecast period. Growth of various industries such as construction, automotive, and electronics have fueled growth of the methylpentene copolymer market in this region. Increasing demand for automotive parts in Latin America is expected to drive growth of the automotive sector. This in turn requires protective packaging, thereby propelling growth of the methylpentene copolymer market. According to the United States of Commerce, the U.S.
- Increasing demand for automobiles and electronics in Brazil and Argentina has resulted in growth of the methylpentene copolymer market. According to the U.S. International Trade Administration, Brazil has the largest automotive market.
- Major players operating in the global methylpentene copolymer market include Mitsui & Co., Ltd. and RTP Company Inc.
