Global Polyoxymethylene Market 2017-2021
POM, also known as acetal or polyacetal, is an engineering polymer. It is a crystalline thermoplastic resin that exhibits superior mechanical and physical properties, like highly crystallinity, low coefficient of friction, wear resistance, high modulus, and resistance to solvent and fuels.
POM is obtained by various processes that help in obtaining the desired shape and form of POM products.
Technavio’s analysts forecast the global polyoxymethylene market to grow at a CAGR of 6.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyoxymethylene market for 2017-2021 . To calculate the market size, the report considers the retail selling price the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polyoxymethylene Market 2017-2021
Technavio recognizes the following companies as the key players in the global polyoxymethylene market: Polyplastics, Celanese, DuPont, MITSUBISHI GAS CHEMICAL, Korea Engineering Plastics, and BASF.
Other Prominent Vendors in the market are: A. Schulman, Asahi Kasei Plastics, China National Bluestar,
DATONG COAL MINE, GEHR Plastics, Grupa Azoty, Henan Energy and Chemical Industry Group, KOLON PLASTIC, LG Chem, POLYMER INDUSTRIES, Saudi Basic Industries (SABIC), Tangshan Zhonghao Chemical, Tianjin Bohua YongLi Chemical Industry, and Yunnan Yuntianhua
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is POM nanocomposite. A matrix, which is formed by the addition of nanocomposites to a material, is called nanocomposite. The properties of nanocomposites enable their application in many fields. Recently, nanocomposites have been developed using engineering polymers. This is done by incorporating a large variety of nanofillers. In addition, POM is one of the popular engineering thermoplastics that has been used to develop nanocomposites. POM nanocomposites are prepared using several methods.”
According to the report, one of the major drivers for this market is Increased demand for POM from APAC. The POM market in APAC has been growing rapidly. The development of the major end-user industries is evident in this region, which is leading to an increase in the demand for POM. The automotive and electrical industries have been registering the maximum growth rates in APAC, in terms of consumption. The properties of POM enable its use in various applications in these industries. The lightweight feature and dielectric properties are contributing to the increasing demand for POM from various industries in APAC.
Further, the report states that one of the major factors hindering the growth of this market is Growth of the bioplastics market. Bioplastics are made from renewable sources, like potatoes, vegetable oil, and rice, which are biodegradable in nature. The global bioplastics market has been witnessing rapid growth and will continue to grow over the forecast period. The CAGR of the bioplastics market indicates that it will pose a challenge to the growth of the global POM market.
Polyplastics, Celanese, DuPont, MITSUBISHI GAS CHEMICAL, Korea Engineering Plastics, BASF, A. Schulman, Asahi Kasei Plastics, China National Bluestar, DATONG COAL MINE, GEHR Plastics, Grupa Azoty, Henan Energy and Chemical Industry Group, KOLON PLASTIC, LG Chem, POLYMER INDUSTRIES, Saudi Basic Industries (SABIC), Tangshan Zhonghao Chemical, Tianjin Bohua YongLi Chemical Industry, and Yunnan Yuntianhua