The increase in construction activities and expansion of automotive sector all across the globe is driving the Polyacetal market.
The global Polyacetal Market is forecast to reach USD 5.88 Billion by 2027, according to a new report by Reports and Data. Polyacetal has various constructive properties, such as easy-to-modify nature, electrical and thermal insulation, shatter-resistance, and lightweight nature.
These properties are making it ideal for usage in the electrical and electronics segment. Some of the most important applications of Polyacetal are circuit boards, electric housing, enclosures, switches and wiring components, sockets and connectors, and cooling systems, among others.
The growing demand for Polyacetal market in the medical industry is also propelling market demand. The application of the product in this field is diverse and ranges from segments such as the spine, joint reconstruction, and traumatology, among others. It is also used in the manufacture of pacemakers and artificial heart valves. This increasing application in the medical industry will positively influence the demand for Polyacetal during the forecast period.
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Top Lading Players: Asahi Kasei Chemicals Co., SABIC, DuPont, Celanese Corporation, A. Schulman, Mitsubishi Engineering Plastics, Korea Engineering Plastics Company Limited, Polyplastics Co. Ltd., Formosa Plastics Corporation, and Kolon Plastic Inc. among others.
Some Key Highlights from the Report:
- The growing trend of substituting metal parts in automotive with plastic materials is a primary driving factor of the Polyacetal market. The application of polymers and engineered materials has witnessed a surge in demand in the recent past. The growing usage of Polyacetal in vehicles is shaping the visual appeal of automotive, their economy, functionality, and fuel consumption.
- Different kinds of manufacturing processes are involved in producing different versions of Polyacetal. To produce Homopolymer Polyacetal, aqueous formaldehyde is reacted with an alcohol to create hemiformal dehydration of mixture and release formaldehyde. They are then polymerized by anionic catalysis and produced a stabilized form of the polymer by reaction of acetic anhydride.
- Injection Molding is the process for producing Polyacetal parts in large volumes. The process is generally used in the mass-production processes where the same part is created thousands or even millions of times in succession. Once the initial costs of the process have been paid, the price per unit during the manufacturing process is extremely low. The cost tends to reduce drastically as more parts are produced.
- The market for Polyacetal market in North America is expected to grow due to the rising demand from the transportation industry owing to the properties of Polyacetal, such as excellent dimensional stability under mechanical force, high stiffness, elevated temperature, and chemical contact.
Segments covered in the report:
Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Homopolymer
- Copolymer
Fabrication Method Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Injection Molding
- Extrusion
- Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Consumer Goods
- Automotive
- Electrical and Electronics
- Industrial
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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