Dublin, Aug. 06, 2021 (GLOBE NEWSWIRE) -- The "Medical Polyoxymethylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application" report has been added to ResearchAndMarkets.com's offering.
The global medical polyoxymethylene market was valued at US$ 61,542.14 thousand in 2019 and is projected to reach US$ 88,482.56 thousand by 2028; it is expected to grow at a CAGR of 4.12% from 2019 to 2028.
Polyoxymethylene (POM) is a high-performance engineered thermoplastic, which is traditionally produced through ring opening polymerization of formaldehyde and is mainly supplied in the form of pellets. POM resins are produced by the process of polymerization of formaldehyde so as to provide the homopolymers and copolymers by deploying the other monomers. They are known for its several constructive and mechanical properties which makes them a suitable material to replace metal in production of several medical devices. POM is known to provide metal-like machining properties along with thermal and dimensional stability, ultra-high modulus, enhanced strength, hardness and rigidness, minimal friction coefficient and gas/vapor permeability, dielectric strength, and better retention characteristics at elevated temperature. All such properties make it an ideal material to be used in production of several medical devices and equipment such as dialysis machines, handles for instrument, pharmaceutical closure, inhalers, insulin pens and other such application areas. The growth of the market is strongly driven by advancements in technology along with growth of medical device industry. Rapid urbanization, coupled with economic growth and rise in incidence of chronic ailments and diseases, is further stimulating the demand for medical polyoxymethylene.
Based on application, the medical polyoxymethylene market is categorized into dialysis machine, handles for surgical instruments, inhalers, insulin pen, and others. The inhalers segment is expected to be the fastest growing segment during the forecast period. Polyacetal or polyoxymethylene (POM) is formaldehyde-based and semi-crystalline form of thermoplastics, with characteristics such as better strength and rigidity and firmness, along with moldability, enhanced mechanical properties, and abrasion, fatigue, and chemical resistance. Owing to all these properties, it is significantly used as a construction material and in designing medical equipment. The cumulative scope of characteristics possessed by such thermoplastics makes them ideal to be used across diversified application bases including dry powder inhalers and metered dose inhalers (MDIs). With the surge in demand for inhalers, the market for medical polyoxymethylene (POM) is expected to grow. Further, manufacturers such as Vaneflon NV are involved in the production and supply of polyacetal for medical applications such as metered dose inhalers.
In terms of region, the medical polyoxymethylene market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2019, Asia Pacific contributed to the largest share in the global medical polyoxymethylene market. The growth of the medical polyoxymethylene market in this region is primarily attributed to the presence of strong industrial base along with presence of prominent manufactures significantly contributing to the market growth. Growth of medical sector in the developing countries such as China, South Korea, and India provide lucrative opportunities for the growth of the medical polyoxymethylene market in Asia Pacific. Further, rapid urbanization, along with rise in incidence of chronic diseases, is also favoring the market growth in the region. The easy accessibility and availability of raw materials, coupled with cheap labor and low production cost, is yet another factor driving the market in the region.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, and travel bans, and business shutdowns. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnership opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related to this industry.
BASF SE; Celanese Corporation; DuPont de Nemours, Inc.; Ensinger; Inventro Polymers; Kolon Plastics; Korea Engineering Plastics Co., Ltd; LG Chem; Mitsubishi Chemical Corporation; and Polyplastics Co., Ltd. are among the major players operating in the global medical polyoxymethylene market.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Medical Polyoxymethylene Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Medical POM Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Instances of Hospital-Acquired Infections (HAIs)
5.1.2 Expanding use of Medical POM in Diversified Application Bases
5.2 Market Restraints
5.2.1 Stringent Regulations on Use of Thermoplastics and Competition from Traditional Materials
5.3 Market Opportunities:
5.3.1 Emerging Applications in Tissue Engineering
5.4 Future Trends:
5.4.1 Significant Research on POM and Diversified Applications of POM in Medical Industry
5.5 Impact Analysis of Drivers and Restraints
6. Medical Polyoxymethylene - Global Market Analysis
6.1 Medical Polyoxymethylene Market Overview
6.2 Medical Polyoxymethylene Market -Revenue and Forecast to 2028 (US$ Thousand)
6.3 Market Positioning - Global Market Players
7. Medical Polyoxymethylene Market Analysis - by Application
7.1 Overview
7.2 Medical Polyoxymethylene Market, by Application (2019 and 2028)
7.3 Dialysis Machine
7.3.1 Overview
7.3.2 Dialysis Machine: Medical Polyoxymethylene Market - Revenue and Forecast to 2028 (US$ Thousand)
7.4 Handles for Surgical Instruments
7.4.1 Overview
7.4.2 Handles for Surgical Instruments: Medical Polyoxymethylene Market - Revenue and Forecast to 2028 (US$ Thousand)
7.5 Inhalers
7.5.1 Overview
7.5.2 Inhalers: Medical Polyoxymethylene Market - Revenue and Forecast to 2028 (US$ Thousand)
7.6 Insulin Pen
7.6.1 Overview
7.6.2 Insulin Pen: Medical Polyoxymethylene Market - Revenue and Forecast to 2028 (US$ Thousand)
7.7 Others
7.7.1 Overview
7.7.2 Others: Medical Polyoxymethylene Market - Revenue and Forecast to 2028 (US$ Thousand)
8. Impact of COVID-19 Pandemic on Global Medical POM Market
8.1 Impact of COVID-19 on Medical Polyoxymethylene Market
8.1 North America: Impact Assessment of COVID-19 Pandemic
8.2 Europe: Impact Assessment of COVID-19 Pandemic
8.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
8.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
8.5 South America: Impact Assessment of COVID-19 Pandemic
9. Medical POM Market - Geographic Analysis
10. Company Profiles
10.1 BASF SE
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 DuPont de Nemours, Inc.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Ensinger
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Inventro Polymers
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Korea Engineering Plastics Co., Ltd.
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 LG Chem
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Mitsubishi Chemical Corporation
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Polyplastics Co., Ltd.
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Celanese Corporation
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Kolon Plastics
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/jnd8ht
