The consumer appliances industry is one of the growing end-users of engineering plastics. In the automotive industry, as the demand for lighter, safer, and more fuel-efficient cars & trucks continues to grow, the demand for components using technologically advanced engineering plastics such as polyacetals is expected to increase during the forecast period.Ĭonsumer appliances to be the second largest end-use industry in engineering plastics during the forecast period New product development of POM in novel applications such as in medical devices is estimated to drive its demand further globally. Traditionally, POM had applications primarily in the construction and automotive industries. Ltd (Japan), BASF (Germany), and Korea Engineering Plastics (South Korea). The key producers of POM are DuPont (US), Polyplastics Co. The superior properties of POM make it suitable for applications in industrial machinery, automotive and plumbing applications, consumer goods, and others. POM has excellent resistance to a wide range of solvents and possesses good electrical properties making it suitable for electrical applications. It possesses superior mechanical, thermal, chemical, and electrical properties and provides high temperature, chemical, and abrasion resistance. These are opaque, extremely hard, and crystalline engineering thermoplastics that offer outstanding strength, low coefficient of friction, stiffness, fatigue endurance, and excellent dimensional stability. Polyacetal or polyoxymethylene (POM) is a type of engineering plastic made by the polymerization of formaldehyde. Polyacetal to be the fastest growing type in engineering plastics market
Engineering plastics are, therefore, gradually replacing conventional materials, due to their high dimensional stability, continuous service temperature, high chemical resistance, and excellent mechanical properties. This is prompting manufacturers to use engineering plastics in applications that require high heat resistance. They are also not thermally conductive and durable in comparison to engineering plastics.
The growth because of conventional materials not being suitable for high-temperature applications in automotive, industrial application, machinery, packaging and consumer appliances end-use industries. The global engineering plastics market is projected to grow from USD 107.2 billion in 2022 to USD 140.9 billion by 2027, at a CAGR of 5.6% from 2022 to 2027. 24, 2022 (GLOBE NEWSWIRE) - The "Global Engineering Plastics Market by Type (Polycarbonate, Polyamide, ABS, PET & PBT, POM, Fluoropolymer), End-use Industry (Automotive & Transport, Electrical & Electronics, Industrial & Machinery, Packaging) and Region - Forecast to 2027" report has been added to 's offering.
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