Research Nester’s recent market research analysis on “Global Polyacetal Market: Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2037" provides an in-depth competitor analysis and a comprehensive overview of the global polyacetal market, segmented by type, grade, fabrication method, end use, and region.
Rising Usage of Polyacetal in the Electronics Sector to Boost Market Growth During the Forecast Period
The global market is expected to register significant revenue growth during the forecast period owing to the rapidly expanding electronics and semiconductor industry and growing demand for miniaturized components. Polyacetal (POM) is widely used in developing smaller, lightweight electronic devices due to its high strength and dimensional stability in small and tiny areas. POM’s excellent insulation and dielectric properties make it an ideal option for switches, connectors, sockets, and housing.
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Rising demand for smart home devices, wearable gadgets, and advanced electronics has resulted in growing production of POM in many parts of the world. Also, high focus on energy efficiency and sustainability encourages manufacturing to use lightweight and high-durability materials like POM to reduce material wastage. This is also expected to open lucrative opportunities for key players, leading to overall market growth.
Key Drivers and Challenges Influencing the Smart Water Meter Market
Growth Drivers:
• Growing demand for polyacetal in the automotive sector
• High usage of POM in various consumer goods
• Rising applications of POM in several emerging economies
Challenges:
• Fluctuating raw materials prices
• Limitations of POM to withstand UV, thermal stability, and chemical resistance
• Challenges associated with recycling
Based on type, the global market is segmented into copolymer and homopolymer. Among these, the copolymer segment is expected to account for the largest revenue share throughout the forecast period owing to the rapidly expanding automotive sector, and increasing applications of copolymer polyacetal in fuel systems, safety components, and interior assemblies. Copolymer POMs are also used in connectors, switches, and other electronic components. Several key players are investing in developing novel products and materials. In November 2023, SKFP announced the launch of an ethylene-acrylate copolymer, LOTRYL 40MA05T, containing 40w% of methyl acrylate which can be used for various electronic applications.
By region, North America is expected to account for a significant revenue share during the forecast period owing to the presence of leading key players, well-developed infrastructure, and rising demand for lightweight components in the electronics, automotive, and medical sectors. The U.S. is one of the largest revenue-generating countries in this region and supports market growth due to stringent government norms for the use of polyacetal, rapid technological advancements in R&D activities, and rising investments in developing novel products.
Toray Industries, Inc., Celanese Corporation, Mitsubishi Engineering Plastics Corporation, BASF SE, Asahi Kasei Corporation, SABIC, KOLON Plastics, Westlake Plastic Company, Polypastics Co. Ltd, Mitsubishi Chemical Corporation are some key players operating in the global polyacetal market. These key players are focused on adopting several strategies such as mergers and acquisitions, partnerships, collaborations, and product launches to enhance their product base and maintain their global position.
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https://www.researchnester.com/reports/polyoxymethylene-pom-market/6767
Research Nester Analytics is a leading service provider for strategic market research and consulting. We provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives make informed decisions regarding future marketing strategy, expansion, and investments. We believe every business can expand its horizon with the right guidance at the right time. Our out-of-the-box thinking helps clients navigate future uncertainties and market dynamics.
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