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Polyoxymethylene Market Controlled by the top five players of industry
The market for POM is controlled by the top five players of the industry as they control more than 60.0% of it. These top players operate with the help of multiple subsidiaries and other affiliates. Although majority of market share belongs to the top five players of the industry, the contribution of regional or small producers cannot be neglected. The Asia-Pacific is the fastest growing region alongside Western Europe. The industry players expanded their operations by increasing the production capacity and by creating new affiliates in various regions to gain strategic advantages over competition.
Celanese Corporation (U.S.), DuPont (U.S.), Korea Engineering Plastics (South Korea), Mitsubishi Engineering-Plastics Corporation (Japan), and Polyplastics Co. Ltd. (Japan) are among the top POM producers, along with BASF SE (Germany), Asahi Kasei Corporation (Japan), and Yuannan Yuntianhua Co. Ltd (China), also being the most active players from 2010 to 2013.
In terms of market activities, Polyplastics Co. Ltd. (Japan) held the highest share contribution of 21.9% towards the total development activities traced from 2010 to 2013. Top three companies contributed nearly 46.2% of strategic initiatives implemented from 2010 to 2013.
Other active players in POM market were Kolon Plastics Inc. (South Korea) and DuPont (U.S.). Kolon Plastics Inc. (South Korea) focused on expansion activities as it doubled its plant capacity and other prominent decisions taken by the company included mergers and acquisition. The two companies together accounted for nearly 9.7% of the total developments from 2010 to 2013. DuPont (U.S.) was focused on new products launches in order to stay competitive in the market.
Asahi Kasei Corporation (Japan) focuses on developing new affiliates and subsidiaries in order to expand its reach in new regions. It announced a distribution agreement with Nitriflex Distribuidora (Brazil) to penetrate the Latin American market. The company also set up new subsidiaries in China and India, which are the highest demanding markets in the region, in order to expand its product reach.
As a part of its business strategy, Polyplastics Co. Ltd. (Japan) focused on capacity expansion as well as regional expansion. The company was involved in the launch of new products on a global scale. It also started a new POM compounding facility in China.
Polyoxymethylene Market by Applications (Electrical & Electronics, Consumer, Industrial, Transportation, and Others) & Geography – Trends & Forecasts to 2018
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