Polyoxymethylene Market To Hit US$ 4.2 Billion by 2027
Currently, the copolymer POM holds the largest market share.
SHERIDAN, WY, USA, November 25, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Polyoxymethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global polyoxymethylene market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global polyoxymethylene market reached a value of US$ 3.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2027, exhibiting a CAGR of 4.83% during 2022-2027.
Polyoxymethylene Market Application:
Polyoxymethylene (POM), or polyacetal, refers to a semi-crystalline engineering thermoplastic used for manufacturing components with enhanced precision, stability, and sliding properties. It is widely utilized as a metal substitute and produced via the process of ring-opening polymerization of formaldehyde and is supplied in the form of pellets. POM is commonly available in homopolymer and copolymer variants that are used to manufacture mechanical gears, fasteners, bearings, and medical devices, including dialysis machines, inhalers, pharmaceutical closures, etc. It exhibits numerous advantageous properties, such as wide operating temperature range, minimal friction, high dimensional stability, heat, chemical, wear resistance, etc. Consequently, it finds extensive applications across several sectors, including consumer electronics and automotive.
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Polyoxymethylene Market Trends:
The increasing demand for medical-grade POM in the manufacturing of healthcare devices is primarily augmenting the polyoxymethylene market. Furthermore, it is also utilized in the production of pen caps, outer needle caps, inner needle caps, dosage knobs of insulin pens, etc., owing to its low moisture absorption, high sterility, and impact-resistant properties, which is positively influencing the global market. Besides this, the widespread adoption of polyoxymethylene in pacemakers, artificial valves, and joint reconstruction devices is acting as another significant growth-inducing factor. Moreover, the growing popularity of POM in electric housing, circuit boards, switches, enclosures, wiring components, and cooling systems is further catalyzing the market growth. Apart from this, the inflating need for effective food packaging solutions and the introduction of variants that are widely used in automotive steering wheels, locks, door handles, and headrests are expected to fuel the polyoxymethylene market in the coming years.
Polyoxymethylene Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global polyoxymethylene market has been studied in the report with the detailed profiles of the key players operating in the market.
Polyoxymethylene Market Key Players:
• Asahi Kasei Corporation
• BASF SE
• Celanese Corporation
• Daicel Corporation
• DuPont de Nemours Inc.
• Kolon Plastic Inc.
• LG Chem Ltd.
• LyondellBasell Industries N.V.
• Mitsubishi Engineering-Plastics Corporation
• RTP Company (Miller Waste Mills Inc.)
• Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
• Westlake Plastics Company
Polyoxymethylene Market Segmentation:
The report has segmented the global polyoxymethylene market on the basis of type, process, grade, end user and region.
Breakup by Type:
• Homopolymer POM
• Copolymer POM
Breakup by Process:
• Injection Molding
• Extrusion Molding
Breakup by Grade:
• Impact Modified
• UV Stabilized
Breakup by End User:
• Electrical and Electronics
• Automotive and Transportation
• Consumer Goods and Appliances
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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