The global polyacetal market is expected to be valued at USD 5.88 Billion in 2027 from USD 3.24 Billionin 2019, registering a CAGR of 7.6% through the forecast period. Polyacetal, also known as polyoxymethylene (POM), is semi-crystalline, formaldehyde-based engineering thermoplastic that is 100% recyclable and finds extensive usage in precision parts. The chemical compound is typically characterized by its high rigidity, robust strength, lightweight nature, shatter resistance, excellent dimensional stability, and electrical and thermal insulation. The material is extensively utilized in the consumer electronics and automotive industries. Some of its most common applications include high-performance engineering components, including fasteners, ski bindings, small gear wheels, ball bearings, knife handles, eyeglass frames, and lock systems.
The global polyacetal market is poised to account for a substantially high revenue over the forecast period, owing to various favorable factors. The extensive use of polyacetal in the automotive and electrical & electronics industries is one of the primary factors contributing to the global market growth. The electrical & electronics sector mostly utilizes the material to manufacture insulators, capacitors, and numerous other electronic components; while, the automotive industry uses polyacetal in the manufacture of seatbelt components, buckles, brackets, switches, latches, and snap-in joints of vehicles. Hence, the use of polyacetal in automobiles enhances their visual appeal, reduces fuel consumption, and improves functionality.
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Due to its high tensile strength, impact resistance, stiffness, and superior room temperature strength, polyacetal is used in the production of various industrial components, such as conveyor plates, pump impellers, springs, sprockets, and gears. Moreover, the material is increasingly replacing metal components in industrial machinery and automobiles, which is a crucial factor bolstering the market growth. The increasing medical applications of polyacetal, including joint reconstruction, traumatology, and spinal implants and devices, are another key parameter for the global polyacetal market growth.
Key findings of the report:
- Based on manufacturing process, the homopolymer sub-segment is leading the global polyacetal market in terms of revenue share. Homopolymer polyacetal finds widespread usage in the production of various automotive components due to its robust tensile strength and toughness.
- Based on fabrication method, the injection molding sub-segment has emerged as the leading market segment, with the largest revenue generation. Injection molding is the most widely used process for producing polyacetal.
- Based on application, the electrical & electronics sub-segment accounts for the highest revenue share in the global polyacetal market. Polyacetal is used in making a wide range of electrical & electronic products, such as circuit boards, enclosures, electric housing, switches, sockets, connectors, cooling systems, and wiring components.
- Among the key regional segments, North America dominates the global polyacetal market based on revenue share. The pivotal factors contributing to the regional market growth are the rising automotive production in the region, the expanding electrical & electronics sector, a boom in production of polyacetal, and the surging demand for technologically advanced medical devices. However, the Asia Pacific polyacetal market is projected to display a significantly high CAGR over the forecast period, with Japan, China, and South Korea as the leading contributors to the market growth.
- The key industry participants include Mitsubishi Engineering Plastics, Asahi Kasei Chemicals Co., A. Schulman, DuPont, SABIC, Korea Engineering Plastics Company Limited, Celanese Corporation, Polyplastics Co. Ltd., Kolon Plastic Inc., and Formosa Plastics Corporation.
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For the purpose of this report, the global polyacetal market has been segmented based on the manufacturing process, fabrication method, application, and region:
By Manufacturing Process (Revenue, USD Billion; Volume, Kilo Tons; 2017- 2027)
By Fabrication Method (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Injection Molding
By Application (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Consumer Goods
- Electrical & Electronics
By Region (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Polyacetal Market Segmentation & Impact Analysis
4.1. Polyacetal Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Increasing demand from construction industry
22.214.171.124. Growing demand from the APAC region
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