Celanese Corporation (US) and Daicel Corporation (Japan) are Leading Players in the Polyoxymethylene Market
The global polyoxymethylene market is projected to grow from USD 3.5 Billion in 2024 to USD 4.4 Billion by 2029, at a CAGR of 4.5% during the forecast period. The growing demand from the APAC region's transportation sector drives the polyoxymethylene market during the forecast period.
Polyoxymethylene (POM), also known as acetal, or, polyoxymethylene, or, polyacetal, is a high-performance engineering thermoplastic renowned for its exceptional mechanical properties and versatility. Structurally, POM is a polymer composed of repeating oxymethylene (-CH2O-) units, which confer high crystallinity and a dense, stable molecular structure. This results in POM's outstanding characteristics, including high tensile strength, rigidity, low coefficient of friction, excellent dimensional stability, and resistance to wear and abrasion.
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In the past couple of years, major key players have adopted several growth strategies, such as product capacity expansions, acquisitions, and product launches, and focused on expanding the business to drive growth. There are several key players which are present in the market and give tough competition to its competitors. These players are Celanese Corporation (US), Korea Engineering Plastics Co., Ltd. (South Korea), Daicel Corporation (Japan), BASF Group (Germany), Asahi Kasei Corporation (Japan), LG Chem (South Korea), SABIC (Saudi Arabia), Mitsubishi Gas Chemical Company, Inc. (Japan), LyondellBasell Industries Holdings B.V. (US), DuPont de Nemours Inc. (US), China BlueChemical Ltd. (China), KOLON ENP (South Korea), and Henan Energy Group Co., Ltd. (China).
Celanese Corporation (US) produces high-performance engineered polymers used in various applications, including automotive, chemical additives, construction, consumer and industrial adhesives, and medical fields. The company operates through two major business segments: Engineered Materials and Acetyl Chain. Under the Engineered Materials segment, Celanese sells polyoxymethylene under the trademark "Hostaform." With a global network of 58 manufacturing facilities, Celanese has a significant presence in North America, Europe, and Asia.
Daicel Corporation (Japan), specializes in supplying a range of derivatives of acetic acid, including acetic anhydride and ethyl acetate. The company operates across various business segments, including medical/healthcare, smart technology, safety, materials, engineering plastics, and others. Within its engineering plastic business segment, Daicel offers polyoxymethylene (POM), which finds applications in AV equipment, office equipment, household appliances, automotive parts, and household equipment. Operations related to POM products are managed by Polyplastics Co., Ltd., a subsidiary of Daicel Corporation. With production facilities in the Asia-Pacific and Europe regions, Daicel ensures global availability of its products.
Mitsubishi Gas Chemical Company, Inc. (Japan), a Japanese corporation, operates in two primary business segments: green energy & chemical business and specialty chemicals business. The company specializes in manufacturing and distributing basic chemicals, fine chemicals, and functional materials. In fiscal year 2022, Mitsubishi Gas Chemical Company generated sales of SD 5.98 billion and achieved operating profits of USD 375 million. Within the specialty chemicals segment, the company focuses on inorganic chemicals, electronic materials, optic materials, engineering plastics, and oxygen absorbers. Under the engineering plastics division, Mitsubishi produces polyacetal products marketed as "Lupital," managed by Global Polyacetal Co., Ltd.
Related Reports:
Polyoxymethylene Market by Type (Homopolymer, Copolymer), Processing Techniques (Injection molding, Extrusion, Compression molding), Grade, End-use Industries, and Region (North America, Europe, APAC, MEA, & South America) - Global Forecast to 2029
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