The global polyacetal resin market size was worth around USD 8.26 Billion in 2023 and is predicted to grow to around USD 16.45 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.95% between 2024 and 2032.
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Market Overview for Polyacetal Resins
Polyacetal resins, also known as acetal or polyoxymethylene resins (POM), are critical engineering resins that possess exceptional chemical, thermal, electrical, and mechanical properties, as well as exceptional wear resistance. These properties enable polyacetal resins to supplant metal and other plastics in wear-critical applications.
Growth Factors in the Polyacetal Resin Market
It is anticipated that the global market for polyacetal resin will experience a substantial increase in the near future. This is a result of the global expansion of automobile production in recent years. Polyacetal polymers are principally employed in the manufacture of plastic gears and bearings, as well as in the production of audiovisual equipment, home appliances, office automation systems, and automobile components. Polyacetal compounds are manufactured exclusively for them.
Additionally, it is anticipated that the global polyacetal resin market will expand in the future due to the increasing demand for polyacetal resins in the healthcare sector, which are utilized in the production of insulin pens and meter dosage inhalers (MDI).
The pervasive use of polyacetal resins in the electronics industry in developing nations, such as China, India, and Brazil, is expected to further increase the consumption of polyacetal resins. Shifting product prices may impede the expansion of the polyacetal resin market in the future. Conversely, it is anticipated that the market participants will be presented with new opportunities for growth as a result of technological advancements in the production of polyacetal resins.
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The Global Polyacetal Resin Market is segmented based on product, application and region
Global Polyacetal Resin Market: Product Segment Analysis
● Acetal Homopolymer Resin
● Acetal Copolymer Resin
Global Polyacetal Resin Market: Application Segment Analysis
● Electrical and Electronics
● Automotive
● Consumer Appliances
● Healthcare
● Others
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The Global Polyacetal Resin market profiles key players such as:
● Polyplastics
● BASF
● Asahi Kasei
● DuPont
● Korea Engineering Plastics
● KTP Industries
● Mitsubishi Gas Chemical
● Celanese
● Polymersan
Regional Analysis of the Polyacetal Resin Market
In 2023, the Asia Pacific region was the most prosperous global market for polyacetal resin. The polyacetal resin industry in the Asia Pacific region was dominated by China due to the country’s swiftly developing automotive and electronic industries. The polyacetal resin market in the region is expected to expand over the forecasted period due to the increasing demand for polyacetal resins in the packaging industry.
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