New York, NY, July 17, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “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”. According to the report, the global polyacetal resin market was USD 5.84 billion in 2018 and is expected to reach around USD 9.95 billion by 2025, at a CAGR of 7.9% between 2019 and 2025.
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. These resins are generally used in various industries like automotive, healthcare, electronics, etc. 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.
Browse through 71 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Polyacetal Resin Market: By Type, Applications, Industry Size, Share, Trends, Analysis, and Forecast, 2018–2025”.
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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. This can be due to their increased use in the automotive, electronics, and healthcare industries. Additionally, acetal copolymer resins are used in various applications that require a mix of strength, low moisture absorption, chemical resistance, and stability in dimensions, which makes them an ideal resin for several applications. 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 and is a major polyacetal resin consumer, due to the flourishing automotive and electronic industries and rapid economic development. Additionally, the increasing demand for polyacetal resins in the packaging industry and for manufacturing electronics components is also likely to drive the region’s polyacetal resin market growth over the forecast time period. Substantial developments are witnessed in the regional automotive industry, particularly in Japan, India, China, Thailand, and Indonesia, which is further projected to fuel the region’s polyacetal resin market.
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The North American polyacetal resin market is estimated to register the fastest growth rate in the future, owing to the increasing adoption of polyacetal resins in the automotive industry. The U.S. is the major consumer of polyacetal resins in the region, owing to its growing automotive and packaging sectors. Additionally, the region’s flourishing healthcare industry has further propelled the demand for polyacetal resins for various purposes.
The European polyacetal resin market is growing gradually, due to the rising demand for automotive components, household appliances, medical goods, and consumer goods. In 2018, Europe contributed around 18% market share to the global polyacetal resin market. Additionally, the increasing consumption of polyacetal resins in the automobile sector is projected to fuel regional market growth. Moreover, in 2016, Germany was the largest exporter of polyacetal resin, followed by the UK. Thus, the increasing production capacity of polyacetal resins is likely to further the polyacetal resin market.
Browse the full “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” Report at https://www.zionmarketresearch.com/report/polyacetal-resin-market
In Latin America, rapid industrialization is one of the major factors driving the polyacetal resin market. Brazil dominated the region’s polyacetal resin market. Moreover, the emerging applications of polyacetal resins in the electronics industry, which includes insulators, connectors, bobbins, and some parts of electronic devices, such as telephones, television, etc., are projected to accelerate the region’s polyacetal resin market.
The Middle Eastern and African polyacetal resin market is projected to grow significantly in the future, owing to the region’s growing automotive industry, rising need for consumer appliances, such as blenders, zippers, microwave ovens, and cigarette lighters, which require extensive use of polyacetal resins.
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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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This report segments the global polyacetal resin market into:
Global Polyacetal Resin Market: Type Analysis
- Acetal Homopolymer Resin
- Acetal Copolymer Resin
Global Polyacetal Resin Market: Application Analysis
- Electrical and Electronics
- Automotive
- Consumer Appliances
- Healthcare
- Others
Global Polyacetal Resin Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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