Graphical Research has reported the addition of the “Polyoxymethylene (POM) Market: Europe Industry Analysis and Opportunity Assessment 2019 – 2024″ report to their offering.
— Europe polyoxymethylene market displays prominent future trends owing to wide range of applications in automotive sector. In upcoming years, the use of plastic materials is going to revolutionize the automotive industry. Polyoxymethylene can act as a better substitute for metal and used in interior and exterior trims, fuel systems, seat belt mechanical components, steering columns, window support brackets, etc. They are becoming popular due to high stiffness, good rigidity and excellent yield. They lower the vehicle weights leading to reduced emissions and improved fuel economy. European Union accounted for approximately 20% of global motor vehicles production in 2018. Innovation trends and prevalence of plastic materials is poised to support the growth of regional automotive sector. Additionally, European Union proposed regulations to control vehicle emissions which will compel vehicle manufacturers to opt for polyoxymethylene instead of metal. This in turn will spur the growth of market during the forecast time span.
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According to the Graphical Research new growth forecast report titled “Europe Polyoxymethylene Market By Type (Copolymer, Homopolymer), By Application (Automotive, Consumer Goods, Industrial, Electrical & Electronics), By Grade (Standard, Reinforced, Impact Modified, Recycled, UV Stabilized, Special Grade), Industry Analysis Report, Regional Outlook (Germany, France, Italy, Spain, Russia)”, Estimated to surpass USD 1.2 billion by 2024.
Rising demand from consumer goods segment will facilitate the growth of product market in future. Growing population, increasing spending propensity and consumer interests are going to propel the demand of consumer goods in upcoming years. Such trends will positively influence the market by 2024. However, market growth may be hindered by strict environmental regulations and production issues.
Copolymer segment will clutch more than 20% revenue share and will grow at significant rate within the forecast time spell. Copolymer has longer creep-fracture life and excellent thermal stability. They are widely used for industrial and automotive applications.
Impact modified and UV stabilized grades will clutch ample market share between 2019 to 2024 due to increasing demand from automotive interior applications. Standard grade will dominate the market in near future.
The majority of market share will be captured by automotive segment by 2024. It will contribute for more than 30% revenue share at the end of forecast period due to large scale of applications. The industrial segment will grow with a CAGR over 7% as it is used for conveyor plates, couplings, pump impellers, gears, etc.
DuPont, BASF SE, Asahi Kasei Corp., A. Schulman and Polyplastics Co., Ltd. are few product manufacturers in the market.
Europe market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Segments Covered in this Report:
Europe Polyoxymethylene Market Type, By Application
Electrical & Electronics
Electrical & Electronics
Europe Polyoxymethylene Market Share, By Grade
Europe Polyoxymethylene Market Size, By Application
Electrical & Electronics
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1241/europe-polyoxymethylene-market
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