Polyoxymethylene Price In China
- China: 70 USD/MT
In China, Polyoxymethylene (POM) prices decreased due to high supply and low demand, leading to reduced costs. The current price for POM in the region is 70 USD/MT.
The latest report by IMARC Group, titled "Polyoxymethylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Polyoxymethylene Prices. This report delves into the price of Polyoxymethylene globally, presenting a detailed analysis, along with informative Polyoxymethylene Price Chart. Through comprehensive Polyoxymethylene Price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Polyoxymethylene Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Polyoxymethylene Prices December 2023:
- China: 70 USD/MT
- Germany: 210 USD/MT
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The study delves into the factors affecting Polyoxymethylene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Polyoxymethylene Price Trend- Q4 2023
The polyoxymethylene (POM) market is influenced by several key factors driving its growth and demand. Firstly, the automotive industry plays a significant role as POM is extensively used in automotive applications due to its high strength, stiffness, and resistance to wear and tear. The increasing production of automobiles, especially in emerging economies, fuels the demand for POM. Additionally, the rise in demand for lightweight materials in various industries, including electrical and electronics, medical, and consumer goods, further contributes to the growth of the POM market.
Another factor driving the market is the growing need for high-performance plastics with enhanced mechanical properties, such as the excellent dimensional stability of POM and low friction coefficient. Moreover, the expanding application areas of POM, such as in gears, bearings, valves, and plumbing fittings, continue to boost its demand globally. Furthermore, technological advancements leading to the development of improved grades of POM with better heat resistance and chemical inertness also propel market growth.
Polyoxymethylene Industry Analysis
The global polyoxymethylene market size reached US$ 3.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 5 Billion, at a projected CAGR of 3.90% during 2023-2032. During the fourth quarter of 2023, the North American polyoxymethylene (POM) market faced a bearish trend in pricing, largely due to an excess supply of products and the influx of low-cost imports from China. Demand from the downstream automotive sector in the United States remained relatively steady, with automotive sales experiencing only slight growth, and the momentum for nearshoring activities had not yet reached significant levels.
Whereas, in the fourth quarter of 2023, the pricing of polyoxymethylene (POM) showed a mixed trend in the APAC region. In China, POM prices declined due to ample supply and reduced demand, which was influenced by lower product costs. Conversely, in the Korean market, there was an increase in production costs attributed to rising prices of feedstock Formaldehyde from the exporting Dutch market. This resulted in a moderate supply of POM in South Korea, leading to a bullish market scenario. South Korea experienced the most significant fluctuations in POM prices during this quarter.
During the fourth quarter of 2023, the European polyoxymethylene (POM) market maintained stability, marked by moderate levels of supply and demand. The market experienced steady demand from downstream sectors, notably electronics and automotive, which remained consistent despite the prevailing economic downturn across the Eurozone. Despite a noteworthy increase of more than 10% in automotive sales in November, the demand for POM within the automotive sector remained subdued. The primary factor driving this rise in sales was attributed to increased demand from the Chinese electric automotive industry, with a significant portion being imported from China.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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