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.
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.
Browse Adjacent Market: Resins and Polymers Market Research Reports & Consulting
Related Reports:
Micro Injection Molded Plastic Market - Global Forecast to 2028
Antimicrobial Plastics Market - Global Forecast to 2028
Methanol Companies – Market Leaders
Water Treatment Chemicals Companies – Market Leaders
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/polyoxymethylene-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/polyoxymethylene.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets
Share this article