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Global Polyoxymethylene Market Insight January 30, 2022 Comments

The Polyoxymethylene is forecast to crazy increase over the next few years. According to the WK-chem Research “Global Polyoxymethylene Professional Survey Report 2022, Forecast to 2027”, With intensive use in the electrical and electronics industry and growing demand from the transport sector, Polyoxymethylene will have better opportunities globally. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 5.22% base on WK-chem Research regression analysis model.
Analysts’ Viewpoint:
Regional expansion by expanding factories or setting up new subsidiaries is the main strategy for companies to increase market share. Other development strategies that major market players are involved in are new product launches, mergers and acquisitions, and agreements and collaborations. These companies are expanding their geographic footprints by setting up factories in new locations. Asia Pacific is emerging as the preferred destination for these companies to expand, said, Senior analyst, Market Research Center in WK-chem Research.
Market insight:
Growth in key end-use industries such as automotive, commodities, and electrical and electronics is expected to drive the global polyoxymethylene market over the forecast period. Rising demand for POMs in packaging and consumer electronic devices is expected to further drive global market growth. POM is widely used as an engineering thermoplastic for commercial and industrial precision parts due to its low friction, high wear resistance, high heat resistance, good electrical properties and low water absorption. Due to its light weight and high strength, it is used in industry to replace heavy metal parts such as pinions, ball bearings, fasteners, ski bindings and locking systems. The increasing penetration of polyoxymethylene in the manufacturing of food contact materials is expected to positively impact the growth of the global polyoxymethylene market in the future. The emergence of new POM applications in the furniture, sports, and construction industries is expected to provide opportunities for market players. Tightening regulatory policies on thermoplastics due to environmental hazards associated with thermoplastics are expected to challenge POM demand over the forecast period. POM resins are sensitive to inorganic acids and chlorine. When in contact with such chemicals, their rapid degradation is a major concern affecting POM demand in water system applications. The development of bio-based engineering plastics is expected to be a restraining factor for the POM market.
Competition Landscape:
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Polyoxymethylene companies that include Polyplastics Co.,Ltd,Mitsubishi Engineering-Plastics Corporation,Celanese,DuPont,YUNTIANHUA,BLUESTAR,HENAN ENERGY AND CHEMICAL INDUSTRY,Shenhua Ningxia Coal Industry Group Co., Ltd,CNOOC Tianye Chemical Co., Ltd.,BASF,Formosa Plastics Corporation,Asahi Kasei,KOLON,KEP.
Segmentation of Polyoxymethylene Market:
Polyoxymethylene market can be divided into copolymer and homopolymer. Homopolymers held the largest share in polyoxymethylene market and shall hold the same position over the forecast period. Homopolymer polyoxymethylene, commonly known as Delrin, is majorly used in manufacturing automotive components due to their high tensile & impact strength, superior room temperature strength and stiffness. It is also used to manufacture industrial components such as pump impellers, conveyor plates, sprockets, springs, gears, couplings, etc.
Polyoxymethylene can be widely used in Automotive, Consumer Goods, Industrial, Electrical & Electronics. Automotive industry held a significant share in global market. The application segment shall witness considerable growth in polyoxymethylene market over the forecast duration. The product is widely used for manufacturing seatbelt components, brackets, buckles, switches, latches and components with snap-in joints in automobiles. The usage of polyoxymethylene also results in low emissions from automobiles as it reduces overall vehicular weight, which is making it a popular choice among manufacturers for replacing metal components. Consumer goods segment shall experience significant gains in polyoxymethylene (POM) market in the coming years. This can be attributed to polyoxymethylene usage in manufacturing consumer products such as garden sprays, butane lighter bodies, zippers, toys etc. China, India, Brazil, Mexico, Thailand and some other Asia Pacific and Latin American countries have emerged as huge potential markets for consumer goods, due to increasing per capita income of consumers, which has led to higher consumer products demand and subsequently higher polyoxymethylene demand.
Polyoxymethylene Market: Regional Analysis
In terms of geography, the global Polyoxymethylene market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific accounted for the largest share in the polyoxymethylene (POM) market, in terms of volume and revenue. Exponentially growing automotive industry in Asia Pacific, mainly in China, Japan and India has played an important role in polyoxymethylene production and consumption in recent times. Moreover, the rising demand for consumer goods in Asia Pacific and Latin America is likely to fuel polyoxymethylene demand over the next few years. The mature markets of North America and Europe are likely to show sluggish growth rate during the forecast timespan, although, high product prices in both these regions have led to their high revenue shares in the POM market.
Cagr: 5.22%
Largest share area:North America
Largest share country:the Unite States
Product Type:Copolymer and Homopolymer
Application:Automotive, Consumer Goods, Industrial, Electrical & Electronics. Automotive
Leading Company:Asahi Kasei,BASF,Celanese,DuPont,Mitsubishi Engineering-Plastics Corporation