Press Release / Business / Polyoxymethylene Market Trends - Size, Share, Growth, Trends, by 2023

Polyoxymethylene Market Trends - Size, Share, Growth, Trends, by 2023

Market Research Future has published a half-cooked research report on the Global Polyoxymethylene Market Polyoxymethylene (POM) Market: Information by Type (Acetal Homopolymer, Acetal Copolymer), Product (Unfilled, Glass Fiber Reinforced, Impact Modified, UV Resistant), End-Use Industry (Automotive, Electrical and Electronics, Industrial Machinery), and Region — Global Forecast till 2023
Competitive Analysis
Some of the key players operating in the global POM market are Polyplastics Co., Ltd (Japan), Celanese Corporation (US), DowDuPont (US), Mitsubishi Chemical Corporation (Japan), BASF SE (Germany), Korea Engineering Plastics Co., Ltd (South Korea), ChemChina (China), Asahi Kasei Corporation (Japan), SABIC (Saudi Arabia), PolyOne Corporation (US), Westlake Plastics Company (US), and KOLON PLASTICS INC (South Korea).
Market Segmentation
The global COVID 19 Impact on Polyoxymethylene Market has been segmented based on type, application, end-use industry, and region.  By type, the global market has been segmented into acetal copolymer and acetal homopolymer. The homopolymer segment accounted for the largest market share and is expected to maintain its dominance throughout the forecast period. The growing adoption of acetal homopolymer in the production of automobile parts such as gear components, wiper components, and others is expected to drive the demand.
Based on product, the global market has been segmented into unfilled, glass fiber reinforced, impact modified, UV resistant, electrically conductive, weather resistant, and others. The unfilled or general segment accounted for the largest market share in 2017. However, the segment is expected to lose some basis points to reinforced type by the end of the forecast period owing to the increasing preference for glass-reinforced POM as an alternative for the unfilled POM. The demand is attributed to the enhanced properties of glass fiber-reinforced POM over unfilled POM such as high strength, stiffness, and creep resistance.
Based on end-use industry, the global market has been segregated into electrical and electronics, industrial machinery, consumer goods, automotive, sports, and others. The electrical and electronics industry accounted for the largest market share in terms of tonnage and value. The latter was closely followed by the automotive segment in 2017. The demand for POM in electrical and electronics is attributed to the good insulating properties, moldability, and other properties of POM. Hence, the growing electrical and electronics market in the developing economies of Asia-Pacific is expected to drive the demand for POM.
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Regional Analysis
The global POM market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific is expected to account for the largest share of the global POM market on account of the growing end-use industries in the region, especially the automotive and electrical & electronics. Also, the region is the largest producer of POM.
North America and Europe are expected to be the prominent markets for POM due to the increasing demand in the automotive, electronics and electrical, and healthcare industries. However, the regional markets are expected to witness low demand during the forecast period.
The Latin American and the Middle East & African markets are likely to register moderate growth during the review period as a result of the growing end-use industries in the regions.