Emerging Opportunities in the Polyoxymethylene Market Worldwide

 The report "Polyoxymethylene Market by Type (Homopolymer, Copolymer), Processing Techniques (Injection molding, Extrusion, Compression molding), Grade, End-use Industries, and Region (North America, Europe, APAC, MEA, & South America) - Global Forecast to 2029", is estimated to be USD 3.5 billion in 2024 and is projected to reach USD 4.4 billion by 2029 at a CAGR of 4.5%. The research study provides a qualitative and quantitative analysis of the polyoxymethylene market size and share, growth perspectives, dynamic trends, regional insights, and the competitive landscape.

The growth of polyoxymethylene is primarily driven by the increasing demand from the transportation industry. Stringent emissions norms and the growing electronics industry also help propel the demand for polyoxymethylene. Volatile raw material prices become the major restraining factor for the market. Rising demand from the healthcare sector provides opportunities for polyoxymethylene manufacturers. However, the slow rate of crystallization of polyoxymethylene emerges as a challenge for the polyoxymethylene market.

Browse in-depth TOC on "Polyoxymethylene Market".

189 – Tables
57 – Figures
216 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=126414942

By End-use Industry, Transportation accounted for the largest share in 2023.

In the forecast period, the transportation segment within the polyoxymethylene market is anticipated to experience the most substantial compound annual growth rate (CAGR) in terms of value.

POM's outstanding mechanical properties and its suitability for a wide range of automotive applications. POM's high strength, stiffness, and dimensional stability make it an excellent choice for manufacturing precision vehicle components such as gears, bearings, fuel system parts, interior trims, etc. Its low friction coefficient and excellent wear resistance enhance the performance and durability of critical automotive systems. Additionally, POM's ability to withstand a wide range of temperatures and resist chemicals and fuels solidifies its status as a preferred material in the transportation sector. The industry's ongoing efforts to improve fuel efficiency and reduce emissions through lightweight further drive demand for POM, given its lightweight nature and capacity to replace metal components.

By Type, Copolymer holds the largest share in 2023.

The Copolymer segment holds the largest share in the polyoxymethylene market in 2023. Copolymer polyoxymethylene incorporates comonomer units into its molecular structure, resulting in enhanced thermal stability and chemical resistance. This makes copolymer polyoxymethylene more versatile and reliable in demanding environments, such as transportation, electrical & electronics, and consumer, where exposure to heat, chemicals, and moisture is common. Additionally, copolymer polyoxymethylene offers superior resistance to hydrolysis and enhanced dimensional stability over a wider temperature range, making it suitable for high-precision applications such as bearings, gears, etc.

By Processing Technique, Extrusion accounted for the second-largest share in 2023.

The extrusion segment held the second-largest share in the polyoxymethylene market in 2023. The extrusion process, which involves pushing molten polyoxymethylene through a die to create continuous shapes such as rods, sheets, pipes, and profiles, is highly efficient and versatile. This method is particularly well-suited for manufacturing components that require consistent cross-sectional dimensions and superior mechanical properties. Furthermore, extruded polyoxymethylene products are used in the production of conveyor belts, cable insulation, and other mechanical components, which are critical in industrial machinery and automation systems. The ability of extrusion to produce large volumes of high-quality, uniform products with precise specifications contributes to its substantial share in the polyoxymethylene market.

By Grade, Low friction accounted for the second-largest share in 2023.

The low friction grade polyoxymethylene segment held the second-largest share in the polyoxymethylene market in 2023. Low-friction grade polyoxymethylene is engineered to minimize the coefficient of friction, making it ideal for components in dynamic environments where smooth and efficient movement is essential. Industries such as transportation, industrial, consumer, and electrical & electronics heavily rely on low-friction polyoxymethylene grade for parts like gears, bearings, sliding mechanisms, and conveyor belts, where reducing friction enhances performance and extends the lifespan of components. The ability of low-friction polyoxymethylene to operate effectively without lubrication, in many cases, further simplifies maintenance and reduces costs.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=126414942

Asia Pacific is the fastest-growing market for the Polyoxymethylene market.

The Asia Pacific region is accounted to be the fastest-growing market in terms of value, from 2024 to 2029. The region's rapid industrialization and urbanization have significantly boosted demand for polyoxymethylene across various end-use industries, including transportation, electrical & electronics, consumer, industrial, and others. Countries such as China, Japan, South Korea, and India are experiencing robust economic growth, leading to increased manufacturing activities and infrastructure development. The burgeoning transportation industry drives substantial polyoxymethylene consumption for precision components, given the region's status as a major manufacturing hub. Additionally, the electronics sector's expansion, fuelled by the growing demand for consumer electronics and technological advancements, further accelerates polyoxymethylene market growth.

Polyoxymethylene Companies

The polyoxymethylene market comprises major players such as Celanese Corporation (US), Korea Engineering Plastics Co., Ltd. (South Korea), Daicel Corporation (Japan), BASF Group (Germany), Asahi Kasei Corporation (Japan), LG Chem (South Korea), SABIC (Saudi Arabia), Mitsubishi Gas Chemical Company, Inc. (Japan), LyondellBasell Industries Holdings B.V. (US), DuPont de Nemours Inc. (US), China BlueChemical Ltd. (China), KOLON ENP (South Korea), Henan Energy Group Co., Ltd. (China), and others. Expansions, acquisitions, agreements, and new product developments are major strategies these key players adopt to enhance their positions in the polyoxymethylene market.

Celanese Corporation (US) produces high-performance engineered polymers used in various applications, including automotive, chemical additives, construction, consumer and industrial adhesives, and medical fields. The company operates through two major business segments: Engineered Materials and Acetyl Chain. Under the Engineered Materials segment, Celanese sells polyoxymethylene under the trademark "Hostaform." With a global network of 58 manufacturing facilities, Celanese has a significant presence in North America, Europe, and Asia.

Daicel Corporation (Japan), specializes in supplying a range of derivatives of acetic acid, including acetic anhydride and ethyl acetate. The company operates across various business segments, including medical/healthcare, smart technology, safety, materials, engineering plastics, and others. Within its engineering plastic business segment, Daicel offers polyoxymethylene (POM), which finds applications in AV equipment, office equipment, household appliances, automotive parts, and household equipment. Operations related to POM products are managed by Polyplastics Co., Ltd., a subsidiary of Daicel Corporation. With production facilities in the Asia-Pacific and Europe regions, Daicel ensures global availability of its products.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=126414942

Mitsubishi Gas Chemical Company, Inc. (Japan), a Japanese corporation, operates in two primary business segments: green energy & chemical business and specialty chemicals business. The company specializes in manufacturing and distributing basic chemicals, fine chemicals, and functional materials. In fiscal year 2022, Mitsubishi Gas Chemical Company generated sales of SD 5.98 billion and achieved operating profits of USD 375 million. Within the specialty chemicals segment, the company focuses on inorganic chemicals, electronic materials, optic materials, engineering plastics, and oxygen absorbers. Under the engineering plastics division, Mitsubishi produces polyacetal products marketed as "Lupital," managed by Global Polyacetal Co., Ltd.

Highlights of Our Research:

⏩Extensive Market Analysis: A deep dive into the manufacturing capabilities, production volumes, and technological innovations within the Polyoxymethylene Market.

⏩ Corporate Insights: An in-depth review of company profiles, spotlighting major players and their strategic manoeuvres in the market's competitive arena.

⏩Consumption Trends: A detailed analysis of consumption patterns, offering insight into current demand dynamics and consumer preferences.

⏩Segmentation Details: An exhaustive breakdown of end-user segments, depicting the market's spread across various applications and industries.

⏩ Pricing Evaluation: A study of pricing structures and the elements influencing market pricing strategies.

⏩ Future Outlook: Predictive insights into market trends, growth prospects, and potential challenges ahead.