The new report by Expert Market Research titled, ‘Global Acetal Copolymer Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global acetal copolymer market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 50%
The market for acetal copolymer is being aided by the extensive use of the thermoplastic in the automotive sector. As it has high tensile strength, excellent dimensional stability, and abrasion-resistant properties, it is extensively deployed in the manufacturing of automobile parts like power windows, mechanical gears, door locks, smart deadbolt lock, and vehicle tanks, among others, which is driving the market growth. With the growing demand to boost energy and fuel efficiency of vehicles, acetal copolymer is increasingly used as a substitute for metals, thus bolstering the industry growth. Moreover, acetal copolymer enhances the in-air quality of automobiles, due to which it is extensively used in interior automobile parts, which is fuelling the market growth.
Industry Definition and Major Segments
Acetal copolymer is a thermoplastic that has high tensile strength, chemical resistance, and excellent dimensional stability. It is typically used in applications that require enhanced precision and is extensively deployed in major industries such as food, consumer goods, and electronics, among others.
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Based on types, the market is segmented into:
- Low heat resistant
- Medium heat resistant
- High heat resistant
By applications, the industry is divided into:
- Consumer Goods
- Food and Packaging
The regional markets of acetal copolymer are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The market growth can be attributed to the rising uses of acetal copolymer in the electronics industry due to its excellent heat stability. The growing demand for consumer electronics as well as the extensive use of the thermoplastic in electronic components like insulators and circuit boards, among others, is driving the market growth. With the increasing research and development (R&D) activities to surge the use of acetal copolymer in various end-use applications, the market is poised to witness rapid growth. Additionally, the increasing demand for acetal copolymers from major industries such as construction and transportation owing to their enhanced durability is projected to significantly contribute to the growth of the market in the forecast period.
Key Market Players
The major players in the market are BASF SE, Celanese Corporation, DuPont de Nemours, Inc., McNeal Enterprises, Inc., Blackwell Plastics LP, ALBIS Distribution GmbH und Co. KG, Asahi Kasei Corporation, and RTP Company, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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