Press release
Polyoxymethylene Market to Make Great Impact in Near Future by 2022
Polyoxymethylene Market
High performance engineering plastic polyoxymethylene, generally known as POM, is made from formaldehyde. It has uses in several end-user industries, including the electrical and electronics, automotive, consumer products, and electronics sectors, among others.
Due to its many advantageous features, including great dimensional stability, impact resistance, fatigue resistance, and high strength, polyoxymethylene is a favoured material in the category of high performance engineering plastics.
To create insulators, capacitors, and numerous other electronic components, polyoxymethylene is primarily employed in the electrical and electronics industry. The product is more effective and efficient because to the usage of this material, which results in higher performance.
In the food sector, polymers are valued as a material because of their mechanical durability, low cost, and ease of production and processing. As a result, it is anticipated that the need for plastic from the food industry would grow in the future years, strengthening the Polyoxymethylene market and opening up new prospects.
Due to its lighter weight and superior impact strength, polyoxymethylene is also used in place of metal.
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Market Segmentation
By Process
Injection Molding
Extrusion Molding
Others (Rotational Molding, Blow molding, physical foaming)
By End user
Electrical and Electronics
Automotive
Consumer Goods and Appliances
Others (Packaging, Medical, Food, Construction)
Polyoxymethylene is an engineering thermoplastic that is used because of its excellent physical properties which make it a metal replacing light weight material. The drivers for this market include superior properties, increasing demand in end use industries, and replacement for plastics among others.
New applications in the food packaging industry along with non-crude oil derivate based raw materials would act as opportunities for Polyoxymethylene. Use of Polyoxymethylene in various industries such as automotive, electrical and electronics, others in the form of metal replacement plastic due to its light weight and high strength is expected to drive growth of the Polyoxymethylene market.
Polyoxymethylene manufacturers are investing heavily in plant capacity expansion or regional expansion by creating new subsidiaries to penetrate into new markets and to improve the reach of their products in various regions. Major players in this market are engaged in R&D efforts to develop newer applications and new products to fulfill the demand from various end use industries.
Also, the companies are engaged in new product launch, and mergers & acquisitions. The companies are expanding their geographical footprints by setting up plants at new locations. These strategies are helping the companies to increase their market share and expand their reach.
The global Polyoxymethylene market is estimated to witness significant growth for the forecast period (2015 to 2025). Asia-Pacific is the leading market in terms of consumption and it accounts for nearly half of the total market for Polyoxymethylene.
Western European market for polyoxymethylene is also expected to grow at moderate rate in the coming years. According to PMR's forecasts, this market in Asia-Pacific is expected to show the fastest CAGR over the forecasted period as huge amount of investment are made in this region.
Some of the major players of the global Polyoxymethylene market are: E. I. Du Pont De Nemours and Company, BASF SE, A. Schulman, Korea Engineering Plastics, Asahi Kasei Chemicals Corp., Celanese Corporation, Mitsubishi Engineering-Plastics Corporation, and others.
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The report covers exhaustive analysis on:
Polyoxymethylene Market Segments
Polyoxymethylene Market Dynamics
Historical Actual Market Size, 2012 - 2014
Polyoxymethylene Market Size & Forecast 2015 to 2025
Supply & Demand Value Chain
Polyoxymethylene Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Polyoxymethylene Market Drivers and Restraints
Regional analysis for Polyoxymethylene Market includes
North America
Latin America
Europe
Asia Pacific & Japan
The Middle East and Africa
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Report Highlights:
Shifting Industry dynamics
In-depth market segmentation
Historical, current and projected industry size
Recent industry trends
Key Competition landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
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