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Polyacetal Resins Market Segmented By Electrical & Electronics, Automotive, Consumer Appliance, Healthcare
A problem which beset moulders of early polyacetal resins was that the polymer chains have to be stabilised to prevent the resin from breaking down during processing at elevated temperatures. Polyacetal resin is one of the oldest engineering thermoplastics, which is used across various applications as a successful substitute in traditional metal markets, at lower costs than other engineering thermoplastics.
Polyacetal resins replace brass, aluminium, die-cast zinc and steel in various end-use applications. Polyacetal resins, also termed as acetal or polyoxymethylene (POM) resins, are important and useful engineering resins with extraordinary wear resistance along with excellent thermal, chemical, electrical and mechanical properties such as good lubricity under a variety of environmental conditions such as moisture and heat, low coefficient of friction and springiness, good fatigue resistance, which results in the replacement of other plastics and metals in various wear-critical applications.
Polyacetal resins have high crystallinity and they have a specific gravity of 1.35-1.60. This gives the resin a characteristic advantage over metals, wood, ceramics, etc. Polyacetal resins are produced by various chemical manufacturers with different formulas and sold with different brand names such as celcon, delrin, ramtal, kepital, duracon and hostaform.
Polyacetal resins are widely used in medial fields such as in artificial hip joints and artificial heart valves. Moreover, they also find use in dentistry as “Dental D” for removable partial dentures. The mechanical, biocompatibility and enhanced aesthetic properties of the resin makes it a good alternative to the chrome-cobalt removable partial denture. Potential applications of polyacetal resins grade include sports and leisure products, automotive components and mass produced products such as clips, fasteners and spring elements.
The global Polyacetal resins market can be segmented on the basis of end-use industry mainly.
Based on the end-use industry, the global polyacetal resins market can be segmented into
The automotive, consumer appliance and electrical industries are the major end-users of polyacetal resins; accounted for over 2/3rd share of the overall consumption in 2016. Others end-use industries include plumbing, sheets/tubes, medical products, etc. Over the recent years, consumption of the resins have grown significantly.
Increasing purchasing power will stimulate the demand for household appliances, automobiles, consumer goods and medical goods in the developing countries of Latin America, Eastern Europe and Asia-Pacific, and this in turn will boost the demand of polyacetal resins, thereby propelling the growth of global polyacetal resins market.
Recent developments and advancements in the polyacetal resins market have made it possible for the utilization of the resins in the packaging and food industry. Packaging and food sector witnesses growth chiefly from the developing countries, where the preference for processed food has increased over the past few years. Hence, penetration of polyacetal resins into the packaging and food industry offers significant growth opportunities for the polyacetal resins market over the forecast period globally.
Considering regions, Asia-Pacific dominates the polyacetal resins market and is expected to remain the dominating region over the forecast period followed by Europe, United States and other regions of the world. Over the past years, the consumption of polyacetal resins has grown significantly, with major growth coming from the Asia-Pacific region, which is primarily driven by the consumption in automotive, electrical and consumer appliance applications.
The pattern for consumption of polyacetal resins differ by region, with industrial and automotive applications dominating in North America, and electrical and automotive applications dominating in Japan and Europe, whereas, the China market is led by consumer products and electrical applications.
Examples of some of the market participants in the Polyacetal Resins market identified across the value chain include DuPont, BASF SE, Asahi Kasei Corporation, Korea Engineering Plastics Co., Ltd., KTP Industries, Inc., and Celanese Corporation among others.
Manufacturers are focusing on product development in order to maintain their competitive edge in the global polyacetal resins market.
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