Polyacetal Resin Market by Type (Acetal Homopolymer and Acetal Copolymer) and by Application (Electrical & Electronics, Automotive, Consumer Appliances, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global polyacetal resin market expected to reach around USD 9.95 billion by 2025, at a CAGR of 7.9% between 2019 and 2025. The global polyacetal resin market is expected to experience notable growth rate in the future, owing to the increasing manufacturing of automobiles worldwide in the last few years.

16-Jul-2019 | Number of pages: 110 | Report Code: ZMR-4417 | Report Format : | Status : Published

Analysis

Polyacetal resins, also known as acetal or polyoxymethylene resins (POM), are significant engineering resins with outstanding wear resistance and superior chemical, heat, electrical, and mechanical characteristics, which lead to the replacement of metal and other plastics in wear-critical applications.

The global polyacetal resin market is expected to experience notable growth rate in the future, owing to the increasing manufacturing of automobiles worldwide in the last few years. Polyacetal resins are specifically designed for plastic gears and bearings usage to be later used in audiovisual equipment, home appliances, office automation systems, and automotive components. The rising demand for polyacetal resins in the healthcare sector to produce insulin pens and meter dose inhalers (MDI) is also projected to boost the polyacetal resin market growth globally in the upcoming years. Additionally, the extensive use of polyacetal resins in the electronics industry in developing countries like China, India, and Brazil is estimated to further enhance the consumption of polyacetal resins. However, fluctuating product prices may hinder the polyacetal resin market growth in the future. Conversely, technological advancements in polyacetal resins production technologies are anticipated to offer new growth opportunities to the market players.

The global polyacetal resin market is divided based on type and application. On the basis of type, the global polyacetal resin market is classified into acetal homopolymer resin and acetal copolymer resin. Acetal copolymer resins dominated the global market in 2018 and are expected to lead in the upcoming years as well. Acetal copolymer resins are used in various applications that require a mix of strength, low moisture absorption, chemical resistance, and stability in dimensions. They are also used for parts of high-performance engineering. Acetal copolymers are commonly used in automotive and consumer electronics industries. Based on application, the polyacetal resin market includes electrical and electronics, automotive, consumer appliances, healthcare, and others. The major consumption of polyacetal resin products is reported in the electrical and electronics sector, where it is used to produce condensers, insulators, and other electronic parts. The automotive segment is projected to grow rapidly in the upcoming years.

In 2018, the Asia Pacific region was the leading polyacetal resin market globally. China dominated the Asia Pacific polyacetal resin market, due to the flourishing automotive and electronic industries. Additionally, the increasing demand for polyacetal resins in the packaging industry is also likely to drive the region’s polyacetal resin market growth over the forecast time period.

Some major players in the global polyacetal resin market are Polyplastics, BASF, Asahi Kasei, DuPont, Korea Engineering Plastics, KTP Industries, Mitsubishi Gas Chemical, Celanese, and Polymersan.


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