North America polyoxymethylene market is driven by shifting trend towards the use of plastic materials in various end-use industries especially in the automotive sector
— Growing demand for plastics in the manufacturing processes of electronic products will likely propel the polyoxymethylene (POM) market size in North America during the forecast term. The product is used to produce several electronic components such as capacitors, insulators and several other electronic components. Automated manufacturing will have a wide scope of polyacetal applications such as gears including spur, cluster, helical, bevel, and worm, laser printer gear trains, video tape drives, switches, coil forms, telephone terminal strips, etc. The use of POM aids in making the final product more effective and efficient to offer better performance.
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According to the Graphical Research new growth forecast report titled “North America Polyoxymethylene Market By Type (Copolymer, Homopolymer), By Grade (Standard, Reinforced, Impact Modified, Recycled, UV Stabilized, Special Grade), By Application (Automotive, Consumer Goods, Industrial, Electrical & Electronics) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Thailand, Indonesia, Brazil, Mexico, South Africa, GCC)”, Estimated to hike at $2 bn by 2024.
Moreover, significant demand for POM is forecast in automotive applications. Amidst the rising quality-centric trends in the industry, the automotive sector will set extremely low limits for the emission of volatile organic compounds (VOC) by 2024. POM meets the world's most stringent requirements with regard to VOC emissions in this sector.
Nevertheless, crude oil, which is one of the key raw materials in the manufacturing of polyoxymethylene, also experienced a sharp fluctuation in prices in the past few years. For POM production, formaldehyde is required, the production of which is highly dependent on crude oil. Crude oil prices from last couple of decades have been very unstable, and can hinder the North America POM market size in the upcoming years.
North America standard grade product market size will cross USD 450 million in 2024. Standard grade POM provides exceptional resistance to fuels and chemicals, are low swelling, and provide long-term thermal stability and electrical insulation capacity. Likewise, homopolymer POM is estimated to witness a CAGR close to 8.5% during the forecast timespan. When compared to the copolymer POM, the homopolymer POM has slightly better mechanical properties but a lower thermo-oxidative stability. Product market size for automotive sector is estimated at more than USD 700 million in 2024. Various benefits of POM usage in automotive sector include durable low-gloss surface, resistant to cleaning solutions, ideal dimensional stability and design flexibility.
Key North America polyoxymethylene market contributors include Mitsubishi Corporation, SABIC, Celanese Corporation, BASF, RTP Company, Westlake Plastics Co., PolyOne Corporation, Polyplastics USA, DuPont,Inc. etc.
North America polyoxymethylene market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Segments Covered in this Report:
North America Polyoxymethylene Market Share, By Grade
North America Polyoxymethylene Market Size, Type By Application
Electrical & electronics
Electrical & electronics
North America Polyoxymethylene Market Value, By Application
Electrical & electronics
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1244/north-america-polyoxymethylene-market
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