Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Polyoxymethylene Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
Emerging Trends in Automotive and Medical Applications Pivotal in Driving the Polyoxymethylene Industry Growth
The global polyoxymethylene (POM) market is poised to rise to a valuation of $5.8 billion by 2030, propelled by a compound annual growth rate of 6% from 2024 to 2030. Increasing demand for POM materials, particularly in medical equipment manufacturing and food packaging solutions, alongside expansion in the automotive sector, fuels the market growth.
Asia Pacific to Maintain Market Dominion with Advancements in the Automotive Sector
The Asia Pacific region is forecasted to retain its dominance in the POM market over the next decade, credit to a booming automotive industry in countries like Japan, China, and India. Enhanced manufacturing efficiencies, a rich reserve of resources, a skilled labor pool, and favorable governmental policies are contributory factors to this regional market growth.
In the polyoxymethylene domain, companies vie for a competitive edge through strategic expansions, R&D investments, and product innovations. The application range for POM is diverse, spanning across industries from consumer goods to advanced electrical and electronic components.
Market Segmentation Analysis
- Homopolymer and Copolymer by Type
- Standard, Reinforced, and Special Grades
- End-use Applications in Automotive, Consumer Goods, and Electronics
Within the industry, copolymer types are anticipated to register rapid growth due to their superior processability and demand in low friction applications. Strategic analysis and segment forecast are key aspects described in the comprehensive market evaluation.
Key Insights and Dynamic Factors Influencing Polyoxymethylene Market Growth
Market dynamics are shaped by a myriad of factors, including evolving trends in technology and consumer preferences, competitive threats, and product developments. The continuous advancements in POM technology reflect the growing need for materials that align with contemporary environmental and durability standards.
The expansive analysis includes a detailed segmentation of the market, scrutinizing different types, grades, and end uses of polyoxymethylene, as well as regional market breakdowns. The emerging trends and competitive landscape of the POM market offer insights into the future direction and growth opportunities.
By emphasizing the surge in medical-grade POM for medical equipment and the increasing use of POM in vehicles, the analysis provides a comprehensive overview of the market dynamics. It offers a thorough examination of growth strategies adopted by industry leaders, emerging trends, and competitive challenges that shape the polyoxymethylene market outlook.
Understanding the polyoxymethylene market's trajectory is paramount for stakeholders in the manufacturing, automotive, and packaging sectors, among others, to capitalize on potential opportunities leading up to 2030.
Polyoxymethylene by Segment
The study includes a forecast for the global polyoxymethylene by type, grade, end use, and region.
Polyoxymethylene Market by Type
- Homopolymer
- Copolymer
Polyoxymethylene Market by Grade
- Standard
- Reinforced
- Impact Modified
- Recycled
- Special Grade
- Others
Polyoxymethylene Market by End Use
- Automotive
- Consumer Goods
- Industrial
- Electrical & Electronics
- Others
Companies Profiled
- DowDuPont
- Polyplastics Company
- Asahi Kasei Chemicals
- Celanese
- SABIC Innovative Plastics
- Mitsubishi Engineering-Plastics
- China National Bluestar
For more information about this report visit https://www.researchandmarkets.com/r/g7pdd7
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