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SOURCE Research and Markets
DUBLIN, May 8, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/hq83dk/polyoxymethylene) has announced the addition of the "Polyoxymethylene Market by Applications (Electrical & Electronics, Consumer, Industrial, Transportation, and Others) & Geography - Trends & Forecasts to 2018" report to their offering.
Polyoxymethylene (POM) is a high performance engineering plastic which is used in many end-user applications due its various desirable properties, which also make POM an effective metal replacing plastic. Major consumption of the products in the polyoxymethylene market is recorded in electrical & electronics industry, where it is used to make capacitors, insulators, and various other electronic components. The POM application in the transportation industry is expected to witness growth at a healthy pace. Non-crude oil derivate based raw materials and new applications in the food packaging sector would serve as the opportunities for the material.
The polyoxymethylene market is driven by replacing metals in various applications where extreme strength or impact resistance is not required and the use of POM matches the application's requirements. R&D efforts by major players in the market could improve the growth by developing newer applications and new products to fulfill the demand from various end use markets. The increasing demand in different developing regions promises the growth of polyoxymethylene in the long-term.
The POM market valued to be $2.2 billion in 2012, which is estimated to reach about $3.3 billion in 2018, is expected to grow at a CAGR of 6.8% from 2013 to 2018. The Asia-Pacific region led the polyoxymethylene market. It contributed nearly 45.6% of the total revenue in 2012. China was the leader in POM consumption, followed by the U.S., and together, these countries consumed 47.4% of the consumption. The Indian POM consumption for the end user applications is expected to grow at 7.6% from 2013 to 2018.
Expansion by means of plant capacity expansion or regional expansion by creating new subsidiaries is the major strategy adopted by the companies for increasing their market share. Other development strategies that major market players are engaged in are new product launch, mergers & acquisitions, and agreements & collaboration. The companies are expanding their geographical footprints by setting up plants at new locations. The Asia-Pacific is emerging as a top destination for the companies to expand.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Polyoxymethylene Market, By Application
6 Polyacetal Market, By Geography
7 Competitive Landscape
8 Company Profiles
For more information visit http://www.researchandmarkets.com/research/hq83dk/polyoxymethylene
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