Polyoxymethylene Market

1. Polyoxymethylene Market Share & Industry Trends Analysis Report By Vertical, Technology and Forecast By – 2028

2. Global Market Scenario of Polyoxymethylene Industry The global Polyoxymethylene Market is expected to reach USD 7.9 billion by 2028. Favorable trends within the automotive and electronics industry will benefit the industry’s expansion in the future. Some major findings of the Global Polyoxymethylene market report include: The increasing trend of replacing metals with plastics will drive market growth over the forecast period. Increasing the adoption of engineered plastics within the consumer goods industry will augment market growth. Increasing feedstock prices and unfavorable geopolitical issues in Europe will create a significant market challenge. The market is moderately consolidated with Polyplastics, Celanese, and Dupont holding the majority of the market share.

3. Continue:- Environmental regulations regarding vehicle emission levels will enable the market expansion for global Polyoxymethylene. Regulatory bodies in various countries have established a framework to minimize vehicle emission levels. Such regulatory norms require automobile manufacturers to reduce the overall weight of vehicles to control their emissions. Hence, it will boost the demand for materials such as POM among vehicle manufacturers as they are lightweight which helps with weight reduction and with the reduction of the overall cost of the vehicle which in turn makes it affordable for every section of the society. Subsequently, this will drive polyoxymethylene market growth over the forecast period. The COVID-19 pandemic has affected the growth of every industry except the health sector likewise it affected the global Polyoxymethylene industry in the short term. Lockdown measures and a complete shutdown of production facilities were announced which hampered the overall business & trade and resulted in economic slowdown and losses around the world. However, the market will recover as restrictions are lifted. Environmental regulations and health issues regarding the use of plastics increase the production cost due to stringent regulations regarding standard maintenance.

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5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/1202 The global Polyoxymethylene market is segmented based on type, grade, and application. Homopolymer polyoxymethylene held more than 15% demand share in 2021. High usage of homopolymer POM in the automotive industry will augment its market growth. The recycled grade polyoxymethylene segment will capture over 15% share by 2028. The rising demand for eco-friendly products due to stringent environmental regulations will support this segment’s growth.

6. Competitive Analysis: The industrial segment will capture less market share as compared to automotive and consumer goods and will cross USD 730 million by 2028. Increasing demand for polyoxymethylene in industrial usage such as conveyor belts, industrial machinery components, etc. will drive market growth. Latin America will grow with a CAGR of over 2% in terms of volume. The growing mining industry, as well as the automotive industry, will drive the market share of the region. Key players involved in the polyoxymethylene market are Dupont, BASF SE, Celanese and Polyplastics.

7. Title Latest Research Report On Polyoxymethylene Market@ https://www.gminsights.com/industry-analysis/polyoxymethylene-pom-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/1202 Request for customization: https://www.gminsights.com/roc/1202

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