Polyoxymethylene Market share by applications and regions for 2017- 2024

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Polyoxymethylene Market Update, Analysis,
Forecast, 2017 2024
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Global Market Scenario of Polyoxymethylen Industry

• Polyoxymethylene Market is set to register a
  commendable CAGR of about 8.8 percent over
  2017-2024
• The global polyoxymethylene market share has been
  flourishing on the cusp of rapidly expanding
  automobile and transportation industry. Owing to
  its exceptional dimensional stability, low
  friction rate, excellent rigidity, a high degree
  of yield strength and stiffness, polyoxymethylene
  is being widely utilized in manufacturing
  advanced lightweight materials for automobiles
• Speaking in the similar context, the
  unprecedented upsurge in environmental and
  economic concerns in the current era have
  compelled the automotive industry to produce
  fuel-efficient and lightweight vehicles.
  Elaborating further, this semi-crystalline
  thermoplastic material has gradually acquired a
  dominant position in the range of
  high-performance plastics, which has, in turn,
  propelled the growth prospects of
  polyoxymethylene market. In fact, as per a study
  report collated by Global Market Insights, Inc.,
  the overall polyoxymethylene (POM) industry is
  set to register a commendable CAGR of about 8.8
  percent over 2017-2024.

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• Concurrently, it would be prudent to mention that
  high-performance plastics have played a crucial
  role in lowering the weight of vehicles currently
  being manufactured by the global automotive
  sector. The significance of developing
  lightweight vehicles can be deciphered from the
  fact that a mere 10 percent reduction in vehicle
  weight culminates into almost 7 percent cut down
  in fuel usage, as per reliable estimates.
• Apparently, polyoxymethylene has been proved to
  be one such effective thermoplastic that has the
  potential to replace the vital metal components
  and parts in various applications-courtesy its
  striking features mentioned above. In addition to
  this, the recent boom being witnessed in
  automobile manufacturing has resulted in
  increased demand for polymers and engineered
  materials along the likes of POM.
• Subsequently, all these declarations clearly
  demonstrate the colossal commercialization
  prospects of the polyoxymethylene industry that
  are bound to materialize over the ensuing years.

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360 Industry Analysis

• Speaking on similar lines, the global POM market
  is fragmented into two prominent types namely
  copolymer polyoxymethylene and homopolymer
  polyoxymethylene. Out of these, homopolymer
  polyoxymethylene commanded the largest revenue
  share of the overall polyoxymethylene industry in
  the year 2016 and is anticipated to retain its
  dominant place in the forthcoming years.
• Commonly known as Delrin, this polyoxymethylene
  material is being chiefly deployed in
  manufacturing automotive parts owing to its
  superior room temperature tolerance and high
  tensile strength.

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• Competitive Analysis
• Additionally, the leading POM industry players
  are pooling expertise and resources to fortify
  their presence in this ever-evolving business
  space.
• Some of the other notable firms striving toward
  altering the POM market trends include Asahi
  Kasei Corporation, LG Chem, Mitsubishi
  Engineering Plastics Corporation, ChemChina, and
  A. Schulman Inc.
• In order to gain an edge over their competitors
  and expand their reach in myriad geographies, the
  aforementioned companies have also been involved
  in several RD activities and collaborations,
  which would consequentially impel the
  polyoxymethylene industry size expansion.

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