Global Polyoxymethylene Market is predicted to reach USD 5.70 Billion at a CAGR of 4.80% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Polyoxymethylene Market” that contains information from 2022 to 2032. The Global Polyoxymethylene Market is estimated to register a CAGR of 4.80% during the forecast period of 2022 to 2032.


MRFR recognizes the following companies as the key players in the Global Polyoxymethylene Market Polyplastics Co., Ltd., Celanese Corporation, DowDuPont, Mitsubishi Chemical Corporation, BASF SE, and Korea Engineering Plastics Co., Ltd.


Market Highlights


The Global Polyoxymethylene Market is accounted to register a CAGR of 4.80% during the forecast period and is estimated to reach USD 5.70 Billion by 2032.


Polyoxymethylene, commonly known as POM or acetal, is a high-performance engineering thermoplastic. It is a versatile material with excellent mechanical properties, such as high tensile strength, stiffness, and dimensional stability. POM is widely used in various industries due to its low friction coefficient, good chemical resistance, and ability to maintain its properties under a wide range of temperatures.  The driver of the market is POM is widely used in the automotive industry for various applications like gears, bearings, fuel system components, door handles, and interior trim parts. Its high strength, low friction, and wear resistance make it ideal for these applications, contributing to its demand in the automotive sector. POM is used in the electrical and electronics industry for components such as connectors, switches, relays, and insulators. Its electrical insulating properties and dimensional stability under varying conditions make it valuable in this sector.


Segment Analysis


The Global Polyoxymethylene Market has been segmented based on Type, Product and End Use Industry.


Based on Type, the market is segmented into Acetal Homopolymer, and Acetal Copolymer. the acetal copolymer segment dominates the market. Acetal copolymer resin exhibits highly desirable properties such as high strength, stiffness, toughness, and dimensional stability. Additionally, it possesses favorable wear and friction characteristics, which can be further enhanced by compounding with additives.


Based on Product, the market is segmented into Unfiled, Glass Fiber Reinforced, Impact Modified, and UV Resistant. the glass fiber reinforced product generates the highest revenue. Polyoxymethylene compounds reinforced with glass fibers (PPGF Plastic) offer enhanced strength, structural stiffness, and dimensional stability in various applications.


Based on End Use Industry, the Market has been segmented Automotive, Electrical & Electronics, and Industrial machinery. the electrical & electronics sector generates the highest revenue. POM is extensively utilized in the electrical and electronics industry due to its numerous beneficial qualities, including excellent electrical and thermal insulation properties, adaptability, low weight, and shatter resistance. It finds crucial applications in various electrical and electronic components such as electric housing, circuit boards, switches, wiring components, enclosures, sockets, connectors, cooling systems, and more.


Regional Analysis


The Global Polyoxymethylene Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Polyoxymethylene Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Polyoxymethylene Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Polyoxymethylene Market comprises of Middle East, Africa, and Latin America.


The Asia Pacific Polyoxymethylene market is expected to take the lead in the global market, primarily due to the substantial demand from developing regions such as China. Moreover, the electronics industry is witnessing significant growth in countries like South Korea, which further contributes to the overall regional market growth.


In Europe, the Polyoxymethylene market holds the second-largest market share, mainly due to the presence of some of the largest automobile original equipment manufacturers (OEMs) in the region. Among European countries, the German Polyoxymethylene market currently holds the largest market share, while the UK Polyoxymethylene market is experiencing the fastest growth within the European region.


In North America, the Polyoxymethylene market is expected to achieve the fastest compound annual growth rate (CAGR) from 2023 to 2032. This growth is driven by increasing demands for POM from various end-use industries such as medical, automotive, and others.


Key Findings of the Study



  • The Global Polyoxymethylene Market is expected to reach USD 5.70 Billion by 2032, at a CAGR of 4.80% during the forecast period.

  • The Indian Polyoxymethylene market has emerged as the fastest-growing market within the Asia-Pacific region, indicating a rapid expansion of Polyoxymethylene usage and demand in India.

  • Based on Application, the Market has been segmented into High Rise Building holding the largest market in 2022.

  • Polyplastics Co., Ltd., Celanese Corporation, DowDuPont, Mitsubishi Chemical Corporation, BASF SE, and Korea Engineering Plastics Co., Ltd.


Browse Complete Report Details @ polyoxymethylene (POM) market


 

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Pages 140
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