Polyoxymethylene (POM) Market | Top Key Players - Barlog Plastics GmbH, SABIC, Polimersan, RTP Company

According to a research report from Global Market Insights, Inc., polyoxymethylene market size is projected to surpass around USD 9 billion.

A gist of the prominent drivers fueling POM market share:

Expansion of automotive sector

The automobile industry will play a major role in propelling polyoxymethylene market growth. Since a while now, environmental concerns and other factors plaguing automakers are prompting them to look for enhanced options, light-weighting being one of them. Polyoxymethylene in consequence, is widely used in automotive component manufacturing, since it helps reduce the overall body weight of the vehicle. The demand for low weight engineered polymer materials as opposed to metals, in manufacturing vehicle bodies is thus increasing rapidly, pushing the requirement of polyacetal in automotive domain.

Another advantage that POM provides in auto component manufacturing is its ability to reduce pollutant emission. Given the current scenario where carbon emissions are becoming a worldwide problem, the demand to lower the same has become vital. Automakers are also facing pressure from regulatory authorities to lower the amount of CO2 emissions.

The escalating requirement for passenger and commercial vehicles across the globe and the rising need to lower pollutant emissions and vehicle weight have thus enabled the automotive sector to emerge as a major growth propellant for the overall POM industry.

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As per Global market Insights, Inc., automotive application segment, in 2016, held the maximum polyacetal market share.

Consistent growth in medical sector

The healthcare and medical devices industry is one of the fastest-growing industries of recent times. This would prove to be a major driving factor for polyoxymethylene market, since the product finds extensive application in medical device manufacturing. The recent times have witnessed a remarkable surge in the prevalence of cardiovascular diseases, joint and knee-related disorders, and other ailments, in tandem with the number of road accidents.

This has gradually led to an increase in the demand for pacemakers, joint replacement components, and the like, which has resulted in a rise in the requirement of POM in medical device manufacturing, on account of its excellent dimensional stability and stiffness.

Citing an instance, BASF boasts of a POM brand called Ultraform, that is extensively used in manufacturing parts that are deployed sterilization processes like superheated steam, plasma, and ethylene oxide. The consistently expanding medical sector and the subsequently rising demand for highly advanced, state-of-the-art healthcare devices will thus be vital driving parameters for POM market.

Major trends propelling polyoxymethylene market growth:

The global polyacetal market is characterized by a number of ongoing trends, a few of which are mentioned below:

Rising demand for copolymer POM in electronics industry

POM is available in two different versions – copolymer and homopolymer, and various manufacturing processes are used to produce the same. Of these, copolymer has gained immense popularity in recent times, which has proved vital for polyacetal market growth. The popularity can be attributed to the product’s excellent flexural strength, fatigue resistance, and supreme lubricity. Additionally, copolymer POM also possesses outstanding electrical conductivity and mechanical strength.

Owing to its excellent characteristics, copolymer POM prominently finds applications across the ever-expanding electrical and electronics industry, especially in instances that require long-term, long-lasting solutions. Copolymer polyacetals are often adopted in the manufacturing of intermediate parts such as faucets, clips, valves, lugs, bushings, etc. In addition, the product is also used in manufacturing coffee spigots, filter housings, food conveyors, and milk pumps.

As the electric and electronics sectors depict a rise, the use of copolymer POM is expected to showcase a gradual growth.

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Escalating popularity of recycled POM

Polyacetal is technically available in the standard, UV stabilized, reinforced, special, recycled, and impact modified grades. Of these, recycled grade polyacetal is garnering mainstream momentum in recent times. The reason for the same can be attributed to the fact that recycled grades provide superior flexibility during the development of intermediate stocks and shapes.

The popularity of recycled grades has been emerging as a major POM industry trend also because, when recycled polyacetal is manufactured using other polymers, the end product is characterized by high performance features such as enhanced tensile strength and astounding flexural strength. These properties make recycled POM an attractive option in numerous industries, thereby providing an impetus to the overall polyoxymethylene industry.

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.

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This release was published on openPR.