Polyoxymethylene Prices Leading Engineering Plastics Enterprises in the US
- 10-Jun-2022 1:46 PM
- Journalist: Patricia Jose Perez
As per Chem Analyst, Polyoxymethylene prices are surging in the US market during June, with prices hovering around USD 3418/ton-USD 3653/ton Polyoxymethylene (POM) FOB Pittsburgh with a weekly escalation of 0.6%. Increasing demand in the automotive, electrical, and electronics industries are projected to be the primary driver of expanding the worldwide Polyoxymethylene market. More than half of the global POM demand comes from these industries. Polyoxymethylene is appropriate for usage in the electrical, electronics, and transportation industries due to its excellent electrical insulation, lightweight, superior strength, and chemical resistance.
Polyoxymethylene produces electrical and electronic components such as fan parts, buttons, relays, micro-gears, camera parts, and home appliances like washing machines, cell phones, and dishwashers. Several Polyoxymethylene applications include circuit boards, switches, electrical enclosures, wiring, sockets, connectors, and cooling systems. Hence, they increase profit margins for producers because they make mass production more cost-effective. Polyoxymethylene is used to make electrical gadgets lighter and reduces their heating, increasing their longevity and durability.
Major end-user industries have boosted their use of Polyoxymethylene as a replacement for metal due to the material's lightweight and muscular strength. Expanding the electrical and electronics sector is expected to increase demand for Polyoxymethylene.
Other changes, including the automobile industry's digitalization, have raised the demand for Polyoxymethylene within the US market in automotive electronics applications. Regulations addressing carbon dioxide emissions have compelled automakers to reduce vehicle weight. The use of Polyoxymethylene (POM) in producing numerous automobile components dramatically reduces the vehicle's overall weight, reducing pollutants and improving fuel economy. Since Polyoxymethylene makes vehicles lighter and cheaper, the automotive industry's R&D expenditures have increased, contributing to the expansion of the Polyoxymethylene market share.
As per Chem Analyst, the rising downstream demand for Polyoxymethylene from the engineering plastics domain is surging the prices of Polyoxymethylene in the US market, increasing its consumption. Demand for Polyoxymethylene is likely to be bold due to its ample availability in the market and its low resistance to alkali and acid attacks.