Global Polyoxymethylene Market to Reach US$ 4.3 Billion by 2028, Impelled by the Growing Demand for Medical Equipment

July 25, 2022 | Chemical & Materials

The latest report by IMARC Group, titled “Polyoxymethylene Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global polyoxymethylene market size reached US$ 3.3 Billion in 2022. Polyoxymethylene (POM), also known as polyacetal, is a semi-crystalline engineering thermoplastic with high tensile strength. It is used as an alternative to metals due to its low friction and wear characteristics as well as an excellent balance of mechanical and chemical properties. It offers high resistance to heat, abrasion, water, and chemical compounds, which makes it suitable for producing high-precision parts of machines. Apart from this, it offers several advantages, such as low smoke emission, moisture absorption and high gloss surfaces.

Global Polyoxymethylene Market Trends:

The growing utilization of POM in the electronics industry to manufacture circuit boards, switches, electrical housing, wiring, sockets, connectors, and cooling systems represents one of the key factors driving the market. Besides this, there is a rise in the employment of POM for reducing the heating of electronic appliances across the globe. This, along with the escalating demand for POM in the healthcare industry to make precise medical equipment due to its high dimensional stability, is propelling the growth of the market. In addition, there is an increase in the demand for POM to manufacture various automotive parts for reducing the weight of the vehicle and minimizing carbon oxide (CO₂) emissions. This, coupled with the burgeoning automotive industry, is contributing to the growth of the market. Moreover, the increasing use of plastic as a replacement for metals in the automotive industry is positively influencing the market. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a CAGR of 4.3% during the forecast period (2023-2028).

Market Summary:

Based on the type, the market has been classified into homopolymer POM and copolymer POM. At present, the copolymer POM holds the largest market share.
On the basis of the process, the market has been bifurcated into injection molding, extrusion molding, and others. Injection molding currently exhibits a clear dominance in the market.
Based on the grade, the market has been segmented into standard, reinforced, impact modified, recycled, UV stabilized, and others. Presently, standard grade POM dominates the market.
On the basis of end user, the market has been categorized into electrical and electronics, automotive and transportation, medical, consumer goods and appliances, construction, and others. POM finds extensive application in the automotive and transportation sectors worldwide.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has been studied in the report, with some of the key players being Asahi Kasei Corporation, BASF SE, Celanese Corporation, Daicel Corporation, DuPont de Nemours Inc., Kolon Plastic Inc., LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Engineering-Plastics Corporation, RTP Company (Miller Waste Mills Inc.), Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), and Westlake Plastics Company.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Process, Grade, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Asahi Kasei Corporation, BASF SE, Celanese Corporation, Daicel Corporation, DuPont de Nemours Inc., Kolon Plastic Inc., LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Engineering-Plastics Corporation, RTP Company (Miller Waste Mills Inc.), Saudi Basic Industries Corporation (Saudi Arabian Oil Co.) and Westlake Plastics Company
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Polyoxymethylene Market to Reach US$ 4.3 Billion by 2028, Impelled by the Growing Demand for Medical Equipment

Purchase options Year End sale

Single User License ~~$2499~~ $2249
Five User License ~~$3499~~ $2974
Corporate License ~~$4499~~ $3599

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.