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Polyoxymethylene (POM) Market to gain commendable proceeds from Automobile & Medical industry till 2024

Author : Rahul Varpe | Published Date : 2019-04-15 

Global Market Insights provides a detailed overview of Polyoxymethylene (POM) market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Polyoxymethylene (POM) market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Automobile industry will be a key growth propellant in polyoxymethylene (POM) market during the forecast timespan. Polyoxymethylene (also known as polyacetal) in automotive component manufacturing leads to reduction in overall vehicle body weight. It also contributes in substantial decrease in pollutants emission. These product characteristics are likely to fuel demand in automotive industry during the forecast years. Automotive market growth will be a key contributor in generating revenues for polyoxymethylene market in the near future.

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Medical industry is another important application segment for polyoxymethylene market. It will be a chief growth driver for polyacetal market over the next few years. The product finds application in manufacturing of joint replacement components, pacemakers, etc. For example, Ultraform (POM brand by BASF) is widely used in producing parts which are utilized in sterilization processes such as superheated steam, ethylene oxide and plasma. The biggest challenge for polyacetal market from 2017 to 2024 may be maintaining product supply and prices amidst fluctuating crude oil prices. Variations in oil prices will affect petrochemical derivatives prices creating imbalance in product procurement & supply over the forecast timeframe.

Polyoxymethylene research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:

Polyoxymethylene market of type by application:

  • Copolymer:
    • Automotive
    • Consumer goods
    • Industrial
    • Electrical & electronics
    • Others
  • Homopolymer:
    • Automotive
    • Consumer goods
    • Industrial
    • Electrical & electronics
    • Others

Polyoxymethylene market by grade:

  • Standard
  • Reinforced
  • Impact modified
  • Recycled
  • UV stabilized
  • Special grade
  • Others

Polyoxymethylene market by application:

  • Automotive
  • Consumer goods
  • Industrial
  • Electrical & electronics
  • Others

Recycled polyoxymethylene shall experience prominent gains during the forecast timeframe. Recycled grades offer superior flexibility during production of intermediate stocks and shapes. Recycled polyacetal when produced using other polymers result in high performance characteristics such as enhanced flexural and tensile strength.

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In 2016, automotive application segment accounted for maximum share in polyacetal market. This is owing to the rising prominence of low weight engineered polymer materials in vehicle body manufacturing which have a potential to replace metals. Consumer goods industry is an important application segment as product has wide usage in making toys, zippers, lighters, etc.

In 2016, Asia Pacific was the largest market in polyoxymethylene production and consumption and is likely to grow at prominent CAGR during 2017-2024. China, held the largest share in Asia Pacific for both volume and revenue. China shall witness ascending gains over the forecast duration because of its growing consumer goods and automotive industry.

The polyacetal market is fragmented with two-three players holding a major share in the market. Key companies in polyoxymethylene market include:

  • Schulman
  • Polyplastics Company Limited
  • LG Chem
  • DuPont
  • ChemChina
  • BASF SE
  • Asahi Kasei

These market players are investing substantially in R&D projects for product innovation and increasing the product field of scope, which shall drive polyacetal market in next few years. For instance, A. Schulman, an international manufacturer and supplier of engineered plastics, launched two new emission grade polyoxymethylene in 2016, which reduces formaldehyde emission and helps in meeting automotive interior standards. This industry has companies integrated both, backward and forward, for example, Ensinger, is forward integrated. It manufactures POM and makes seals, screws, bearings and rollers out of it.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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