Polyoxymethylene Market to get significant proceeds by 2024

Global polyoxymethylene market share has been increasing on the cusp of quickly growing automobile and moving industry. Owing to its outstanding dimensional security, low friction rate, excellent rigidity, a high grade of yield strength and stiffness, polyoxymethylene is being widely appropriated in producing exceptional lightweight materials for automobiles.

As the industrial landscape continues to evolve, the use of plastics in place of traditional metallic components, particularly in the automotive sector is gaining immense traction. One of the most popular plastics for these applications is Polyoxymethylene or POM.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/1202

Discovered in the 1920s by Hermann Staudinger, polyoxymethylene market is a high-performance thermoplastic demonstrating robust application potential across myriad sectors. At the time of its discovery, the material was not thermally stable enough to be produced commercially.

Growth drivers are
1. Increasing use of plastic as replacement to metals in automotive industry
2. Increasing acceptance for POM in medical applications

In fact, polyoxymethylene market observed commercialization by the late 1950s and early 1960s. DuPont played a vital role in this endeavor, when it began the production of Derlin®, its proprietary version of polyoxymethylene homopolymer, followed by Celanese’s launch of its own version Celcon®. This further encourage other manufacturers to develop their own thermoplastic product versions, leading to significant evolution in the industry.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1202

Robust demand from automotive sector to serve as a prominent growth driver for polyoxymethylene market

Polyoxymethylene observes tremendous acceptance from the automotive industry. Few polymers and other components are able to withstand constant contact with the vast array of automotive fuels used in modern vehicles as well as the high temperatures generated in the engine compartments. Polyoxymethylene, or more specifically acetal copolymer is one of these few and is thus the favored material for modern automotive fuel systems.

Polyoxymethylene products are highly versatile and can perform myriad applications in fuel systems including, fuel cap, fuel filler necks, fuel sender units, valves, fuel pumps and many other components.

Stringent regulations regarding thermoplastic usage may hamper industry expansion

While polyoxymethylene products are gaining immense traction and have several beneficial properties, there are certain factors which may impose limitations on the growth of the industry. Fluctuating crude oil prices, for instance are projected to pose a significant roadblock to polyoxymethylene market expansion in the coming years.

Additionally, stringent regulatory mandates pertaining to thermoplastics may also hamper the adoption of polyoxymethylene, owing to associated environmental risks. Polyoxymethylene resins show sensitivity to chlorine and mineral acids, degrading rapidly upon contact, which affects the use of these products in water supply system applications. Moreover, the advent of bio-based engineering plastic components will act as a considerable obstacle for polyoxymethylene market growth.

Advancements by key industry players likely to present novel growth prospects

With POM manufacturers working tirelessly towards developing novel and innovative products, the global polyoxymethylene market is set to undergo a significant transition in the years ahead.

One of the most prolific potential trends on the horizon is the emergence of plastic cars. The possibility of cars developed from plastic components will not only bolster the profits derived from electric car applications but will also bring about a revolutionary new era for the plastic production industry.

Leading market players

The key market players analyzed in the global Polyoxymethylene Market report include DuPont, A. Schulman Inc., BASF SE, Korea Engineering Plastics Company Limited, Polyplastics Co. Ltd, Celanese Corporation, Asahi Kasei Corporation, Formosa Plastics Corporation, Kolon Plastic Inc., LG Chem, Mitsubishi Engineering-Plastics Corporation, Barlog Plastics GmbH, SABIC, Polimersan, RTP Company

Read more: https://www.gminsights.com/industry-analysis/polyoxymethylene-pom-market

Contact Us
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.