Press release
Polyoxymethylene (POM) Market future trends to 2024 key players DuPont, Schulman Inc., BASF SE, Korea Engineering Plastics Company Limited, Polyplastics Co., Ltd, Celanese Corporation, Asahi Kasei Corporation, LG Chem, Barlog Plastics GmbH, SABIC
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Increasing product popularity in medical field will also be a major driver for the polyoxymethylene market size during the forecast timespan. It is currently being used to manufacture pacemakers, joint replacement devices, etc. For instance, BASF’s Ultraform is used in manufacturing components that are used in sterilization procedures such as plasma, superheated steam and ethylene oxide. A major challenge for polyoxymethylene market from 2017 to 2024 will be the oscillating crude oil prices. It directly affects formaldehyde production which may create inequity in product supply & demand dynamics during the forecast period.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
DuPont
Schulman Inc.
BASF SE
Korea Engineering Plastics Company Limited
Polyplastics Co., Ltd
Celanese Corporation
Asahi Kasei Corporation
LG Chem
Barlog Plastics GmbH
SABIC
Reinforced polyoxymethylene shall witness prominent gains from 2017 to 2024. There are various additives available in market that can be added to the product to make a reinforced grade, for example, fiberglass, crosslinked rubber, talc filler, etc. Reinforced grades have high dimensional stability, reduced thermal expansion & shrinkage and high rigidity.
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Automotive segment, in 2016, held the largest share in polyoxymethylene market. This enormous market share can be attributed to the growing prominence of plastic materials in replacement to metals in vehicle bodies. Electrical industry is also a major application segment for polyoxymethylene market as the product is extensively used in making wires, cables and other electrical components and devices.
Asia Pacific held a major share in global polyoxymethylene market size in 2016 and shall grow at a significant CAGR during the forecast timeframe. This can be mainly attributed to China, which holds the maximum share in global polyoxymethylene production. China is poised to witness maximum gains owing to its growing automobile and consumer goods industry over the forecast duration.
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The polyoxymethylene market is highly competitive with some of the big multinational giants operating in this space. Some major players are BASF SE, DuPont, SABIC, ChemChina, LG Chem, Asahi Kasei and A. Schulman. The market has high entry barriers for new entrants due to the capital intensiveness of this industry and widespread distribution network of established players. Companies are investing heavily in R&D initiatives to explore further product application scope, which will ultimately fuel polyoxymethylene market size in the coming years.
Polyoxymethylene market has both forward and backward integrated companies, for instance, Ensinger, which manufactures polyoxymethylene and makes bearings, seals and rollers from it.
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