Polyoxymethylene Market Growth Opportunities Future Trends SWOT Analysis Forecasts By 2028

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Polyoxymethylene Market Share Industry Trends
Analysis Report By Vertical, Technology and
Forecast By 2028
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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 industrys 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.
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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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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 segments growth.
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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.
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Latest Research Report On Polyoxymethylene
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