The Latest Polyoxymethylene Industry Statistics Explained
The Polyoxymethylene (POM) industry is anticipated to exhibit a CAGR of 2.8% from 2020-2027,
The statistic indicates that the Polyoxymethylene (POM) industry is projected to experience a Compound Annual Growth Rate (CAGR) of 2.8% over the period from 2020 to 2027. A CAGR is a commonly used measure of growth that provides a smooth rate of return over a specified period, in this case, seven years. A CAGR of 2.8% suggests that the POM industry is expected to grow steadily and incrementally at this rate each year during the stated timeframe. This growth rate reflects a positive outlook for the industry, indicating potential opportunities for expansion, increased demand, and development of new products or applications.
The Asia-Pacific region dominated the polyoxymethylene market in 2019,
The statistic “The Asia-Pacific region dominated the polyoxymethylene market in 2019” indicates that the majority of the production, consumption, and sales of polyoxymethylene, also known as POM or acetal, occurred in the Asia-Pacific region during 2019. This suggests that countries within the Asia-Pacific region were the key players in the global POM market, either as manufacturers, consumers, or both. Factors contributing to this dominance may include the presence of established industries, competitive manufacturing capabilities, growing demand from various sectors such as automotive, consumer goods, and electronics, as well as favorable economic conditions in the region. This statistic highlights the significance and influence of the Asia-Pacific region in the POM industry during the specified year.
By the end of 2025, the automotive industry is expected to account for 40% of the Polyoxymethylene (POM) market,
The statistic indicates that by the end of 2025, the automotive industry is projected to hold a significant market share of 40% in the Polyoxymethylene (POM) market. This implies that the demand for POM, a versatile engineering plastic known for its high strength, stiffness, and chemical resistance, is largely driven by its usage in the automotive sector. The automotive industry’s reliance on POM can be attributed to its favorable characteristics that meet the stringent requirements for various automotive applications such as interior components, fuel systems, and electrical components. As a key player in the POM market, the automotive industry’s anticipated dominance highlights the importance of POM as a crucial material in supporting the manufacturing and innovation of automotive products.
The global Homopolymer POM accounted for over 50% of the total market in 2020,
The statistic ‘The global Homopolymer POM accounted for over 50% of the total market in 2020’ indicates that homopolymer polyoxymethylene (POM), also known as acetal, held a dominant position in the market for POM products in the year 2020. This suggests that more than half of the market share for POM was attributed specifically to homopolymer POM during that year. This statistic highlights the significant popularity and demand for homopolymer POM, likely due to its desirable properties such as high stiffness, strength, and chemical resistance. Companies operating in the POM market would need to take this information into account when planning their strategies for product development, marketing, and sales in order to remain competitive and meet the needs of customers in the industry.
The consumption of electronics and electrical components from POM is expected to gain momentum with a 3.2% CAGR from 2021 to 2028,
This statistic indicates that the consumption of electronics and electrical components from a certain entity, referred to as POM, is projected to increase at a Compound Annual Growth Rate (CAGR) of 3.2% between the years 2021 and 2028. A CAGR is a useful metric for assessing the average annual growth rate of a quantity over a specified period of time, providing a smooth representation of growth over multiple years. In this context, the statement suggests that there is an anticipated growth trend in the demand for electronics and electrical components from POM, signaling potential opportunities for increased sales or consumption in this sector over the specified timeframe. This information could be valuable for stakeholders, investors, and decision-makers in planning and strategizing for future business activities related to the consumption of electronics and electrical components.
In 2019, the U.S. POM market was estimated to be worth over USD 350 million,
The statistic “In 2019, the U.S. POM market was estimated to be worth over USD 350 million” indicates the total estimated value of pomegranate juice (POM) sales in the United States during the year 2019. This figure reflects the combined revenue generated by all companies and brands selling pomegranate juice products within the U.S. market. The value of USD 350 million suggests that pomegranate juice was a significant product category in the beverage industry, demonstrating consumer demand for this particular type of juice. This statistic is crucial for companies and investors looking to understand the market size and potential profitability of the U.S. POM market, guiding decision-making processes within the industry.
The European market for POM is projected to exceed USD 1 billion by 2024,
This statistic indicates that the European market for Polyoxymethylene (POM) is estimated to surpass USD 1 billion by the year 2024. This projection suggests significant growth in the demand for POM within the European market, likely driven by factors such as increased industrial and consumer applications, technological advancements, and evolving market trends. The substantial market size points to considerable opportunities for businesses operating within the POM sector in Europe, emphasizing the potential for industry expansion and revenue generation in the coming years.
The copolymer POM segment is slated to grow at the fastest rate of around 5.3% CAGR between 2018 and 2026,
The given statistic indicates that the copolymer POM segment is expected to experience significant growth over the period from 2018 to 2026, with a Compound Annual Growth Rate (CAGR) of approximately 5.3%. This means that on average, the segment’s revenue or market size is projected to increase by 5.3% each year during this timeframe. A CAGR is a useful metric for understanding the smooth annualized growth rate of an investment or segment, eliminating the impact of volatility or fluctuations in the data. In this context, the forecasted growth rate of 5.3% suggests a positive outlook for the copolymer POM segment, indicating increasing demand, market expansion, or other favorable factors that are driving its growth over the specified period.
The electrical industry accounts for over 15% of the total Polyoxymethylene market share,
The statistic indicates that the electrical industry holds a significant portion of the Polyoxymethylene (POM) market, with a market share exceeding 15%. This suggests that POM, a versatile engineering plastic, is valuable and in demand within the electrical industry for various applications. The dominance of the electrical industry in the POM market may be attributed to the material’s desirable properties such as high stiffness, low friction, and exceptional dimensional stability, which are crucial characteristics for electrical components and equipment. This statistic signifies the importance of POM as a material of choice in the electrical industry and highlights the industry’s substantial influence on the overall market for POM.
China dominated the Asia Pacific market with a 59.1% share in 2020,
The statistic indicates that in the Asia Pacific market in 2020, China held a significant market share of 59.1%, demonstrating its dominance in the region. This high share suggests that Chinese businesses, products, or services had a strong presence and influence over the market compared to other countries in the Asia Pacific region during the specified year. Factors such as China’s large population, expanding economy, manufacturing capabilities, and technological advancements likely contributed to its ability to capture such a substantial share of the market. The statistic highlights China’s position as a key player in the Asia Pacific market and its competitive advantage over other countries in the region.
The extrusion segment holds the largest share of over 34% of the overall POM market,
This statistic indicates that the extrusion segment is the dominant sector within the polyoxymethylene (POM) market, accounting for more than a third (34%) of the total market share. This suggests that extrusion processes, such as molding and shaping POM materials into various products like gears, bearings, and automotive components, are among the most commonly used manufacturing methods in the industry. The significant market share held by the extrusion segment points to its importance in driving the overall demand and consumption of POM materials, reflecting the widespread use and applicability of POM products across various industries.
The POM market in North America is expected to reach USD 0.8 billion by 2024,
The statistic that the POM (Prescription Only Medicine) market in North America is projected to reach USD 0.8 billion by 2024 indicates the anticipated total value of sales for prescription drugs in the region by that year. This forecast suggests a significant market size for prescription medications, reflecting the demand for pharmaceutical products for various health conditions. The projected increase in market value also implies potential growth opportunities for pharmaceutical companies operating in the North American region, as well as the importance of healthcare professionals in prescribing and managing these medications to meet the needs of the population.
The Japan Polyoxymethylene market size is projected to exceed 55 kilotons by 2024,
This statistic indicates that the Japan Polyoxymethylene (POM) market is forecasted to grow and surpass 55 kilotons by the year 2024. Polyoxymethylene is a versatile engineering plastic used in various industries such as automotive, electronics, and consumer goods for its excellent mechanical properties and chemical resistance. The projected growth in market size suggests an increasing demand for POM in Japan, potentially driven by factors such as technological advancements, industrial developments, and expanding applications of POM in different sectors. This growth projection can be indicative of a positive trend in the usage and adoption of Polyoxymethylene within the Japanese market, presenting opportunities for market players and stakeholders in the POM industry.
References
0. – https://www.www.grandviewresearch.com
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2. – https://www.www.fortunebusinessinsights.com
3. – https://www.www.researchandmarkets.com
4. – https://www.www.millioninsights.com
5. – https://www.www.reportsanddata.com
6. – https://www.www.mordorintelligence.com
