Polyoxymethylene Pom Market Research Report By Type (Homopolymer, Copolymer), By Application (Automotive, Electrical and Electronics, Consumer Goods, Industrial Machinery, Medical and Healthcare), By Processing Method (Injection Molding, Extrusion, Other Processing Methods), By Grade (Standard Grade, High-Performance Grade, Specialty Grade) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Polyoxymethylene Pom Market Overview

The Polyoxymethylene Market Size was estimated at USD 1.47 Billion in 2022. The Polyoxymethylene Pom Industry is expected to grow from USD 1.53 Billion in 2023 to USD 2.2 Billion by 2032. exhibiting a compound annual growth rate (CAGR) of 4.13% during the forecast period (2024 - 2032).

Key Polyoxymethylene Pom Market Trends Highlighted

Prominent market trends in the global polyoxymethylene (POM) market include rising demand for lightweight and durable materials in automotive and industrial applications. The automotive sector is a key driver, with POM's resistance to chemicals, wear, and temperature making it an ideal material for components such as gears, bearings, and interior parts. In industrial applications, POM's excellent machinability and electrical insulation properties open avenues in electronics, machinery, and consumer goods. Furthermore, growing awareness of environmental sustainability has led to an increased focus on recyclable and eco-friendly materials like POM. Opportunities for exploration lie in the development of bio-based POM alternatives and applications in emerging industries such as renewable energy and medical devices.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Polyoxymethylene Pom Market Drivers

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  Increasing Demand for Lightweight and Durable Materials

  
  

The Polyoxymethylene Pom Market Industry is motivated by the growing tendency of the use of high-density plastic material, which is used in the automotive industry. The automotive industry is the driving force of the Polyoxymethylene Pom Market Industry. As automotive manufacturers are focusing on enhancing more fuel-efficient cars with less emission, it is the reason they are increasing the utilization of polyoxymethylene. POM is a type of plastic that is strong, light in weight, and more resistant to high temperatures.Due to this, many automotive products of automotive is made of POM in automotive, such as inside and outside of cars, under-the-hood parts of cars and the structural parts of cars. The growth of the Polyoxymethylene Pom Market Industry will also be driven by the demand for the Automotive industry for light weight material which is strong and durable for their application.

Expansion of the Consumer Electronics Market

Another key driver of the Polyoxymethylene Pom Market Industry is the consumer electronics market. POM is used in a number of consumer electronics products, including mobile phones, laptops, tablets, and televisions. As the popularity of consumer electronics products continues to increase, so too does the demand for POM. One of the reasons POM is such a popular material for use in consumer electronics products is because it is incredibly lightweight and durable, as well as being resistant to wear and tear.It is also highly malleable and can be easily molded into a range of shapes and sizes.

Growing Awareness of the Benefits of POM

Another factor driving growth in the Polyoxymethylene Pom Market Industry is the growing awareness of the benefits of POM. POM is a relatively new material, and many businesses are still not aware of its benefits. As more businesses learn about the benefits of POM, such as its strength, durability, and wear-and-tear resistance, they are more likely to use it for their products. This trend is expected to continue and drive growth in the Polyoxymethylene Pom Market Industry in the coming years.

Polyoxymethylene Pom Market Segment Insights

Polyoxymethylene Pom Market Type Insights  

Segment-wise, the Polyoxymethylene Pom Market is divided by Type into Homopolymer and Copolymer. The Homopolymer segment is projected to hold a larger share of the revenue of the Polyoxymethylene Pom Market in  2024. This is attributed to its superior mechanical properties, such as high strength, stiffness, and toughness. Meanwhile, the Copolymer segment is expected to grow at a significant rate during the forecast period due to its high flexibility and resistance to several chemicals and solvents. On the basis of applications, the Automotive segment is likely to boom in the forecast period because of its usage in making gears, bearings, and other automotive parts.Apart from that, it is also used in the electrical and electronics industry for making connectors, switches, and house wares. The key players in the Polyoxymethylene Pom Market are Lyondell Basell, Asahi Kasei, DIC Corporation, LG Chem, Formosa Plastics, Berkshire Hathaway, DuPont, Celanese Corporation, SABIC, and BASF SE Background. These players have adopted strategies such as geographical expansion, product development, and undertaking high crude oil prices. For instance, SABIC built a $595.7-million polyacetal plant in 2015 in Jubail, Saudi Arabia, to support the increasing demand for high-quality engineering thermoplastics products in Asia and the Middle East.The Polyoxymethylene Pom Market is expected to grow due to several factors, such as overall industrial progress in the automotive, electrical and electronics sectors and upward disposable income trend in developing countries. These sectors account for the lion’s share of production, and it is expected to drive the arrival of new companies in the market. The increasing craze about using very light and strong materials in transport and consumer industries is likely to fuel demand for Polyoxymethylene Pom in the future. Overall, the market is going to have a stable future with steady growth expected.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Polyoxymethylene Pom Market Application Insights

Polyoxymethylene, or POM, is one of the most widely used thermoplastics that can be found in a wide range of applications. According to the report, in 2023, the automotive segment occupied 28.5 percent of the Polyoxymethylene Pom Market revenue, equaling USD 450 million. The plastic is used for manufacturing car parts, both interior and exterior, such as dashboards, door panels, and bumpers. This is facilitated by its exceptional dimensional stability, low friction, and chemical and wear resistance. As for the electrical and electronics segment, it occupied 22.1 percent of the market with a value of USD 350 million.POM is used for electrical connectors, switches, and insulators because of its high electrical insulation and flame retardancy. The consumer goods segment made up around 19.2 percent or USD 300 million in 2023, and using POM for producing toys, appliances, and housewares is explained by its good mechanical strength, low noise, and resistance to chemicals and solvents. Meanwhile, the industrial machinery segment was estimated to be 16.7 percent or USD 260 million, and great strength, stiffness, and wear resistance make POM suitable for gears, bearings, and other machine parts. Finally, the medical and healthcare segment accounted for 13.5 percent of the Polyoxymethylene Pom Market revenue in 2023, which is equal to USD 210 million. This thermoplastic is used for manufacturing medical devices such as surgical instruments, prosthetics, and implants that should be biocompatible, sterilizable, and resistant to chemicals and moisture.

Polyoxymethylene Pom Market Processing Method Insights  

The Polyoxymethylene Pom Market segmentation by Processing Method includes Injection Molding, Extrusion, and Other Processing Methods. Injection Molding is the most widely used processing method due to ability to produce complex shapes, high-volume production, and cost-effectiveness. In 2023, the Injection Molding segment accounted for over 60% of the Polyoxymethylene Pom Market revenue. Extrusion involves melting the polymer and forcing it through a die to create continuous shapes, offering advantages such as high productivity and suitability for large-volume applications.Other Processing Methods include blow molding and rotational molding, which cater to specific product requirements and offer tailored solutions for various industries. The market data suggests that the Injection Molding segment is expected to continue dominating the market in the coming years, driven by increasing demand for lightweight, durable, and cost-efficient components in various end-use industries.

Polyoxymethylene Pom Market Grade Insights 

The Polyoxymethylene Pom Market is segmented into Standard Grade, High-Performance Grade, and Specialty Grade. Standard Grade is the most common type of POM, accounting for over 60% of the global market in 2023. It is characterized by its low cost and good mechanical properties, making it suitable for a wide range of applications. High-Performance Grade POM is a more advanced type of POM with improved mechanical properties, such as higher strength and stiffness. It is often used in demanding applications, such as automotive and aerospace components. Specialty Grade POM is a customized type of POM that is designed to meet specific requirements, such as high temperature resistance or flame retardancy. The growth of the market is being driven by the increasing demand for POM in the automotive, electrical electronics, and consumer goods industries.

Polyoxymethylene Pom Market Regional Insights  

The regional segmentation of the Polyoxymethylene Pom Market offers valuable insights into the geographical distribution of market growth and opportunities. North America is expected to dominate the market in 2024, with a significant share of the global revenue. The region's established automotive and electronics industries drive demand for high-performance materials like Polyoxymethylene Pom. Europe is another key market, supported by a robust automotive sector and stringent regulations promoting lightweight and fuel-efficient vehicles. The Asia-Pacific region is anticipated to witness substantial growth, driven by the increasing demand from emerging economies such as China and India.South America and the Middle East  Africa regions are expected to contribute a smaller but growing share of the global market, with potential for growth in the automotive and construction sectors.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Polyoxymethylene Pom Market Key Players And Competitive Insights

The Polyoxymethylene pom Market industry is highly competitive, with key players having a strong presence in various regions. DuPont, Polyplastics, and SABIC are some of the key players competing in the market. These market players are adopting several strategies to retain their position in the market- heavy investment in research and development to bring innovative products and expand their product base. On the global level, these companies direct their focus on various bold moves such as long-term supply contracts, partnerships, and huge capital investments. Hard lobbying through several acquisition-related activities is another major move of these companies. Another factor that is shaping the market dynamics is the entry of a large number of market players that are driven by the growing global demand for low-price solutions from various developing countries.

Celanese Corporation is a strong competitor in the market that offers a vast range of polyoxymethylene products under the Celcon brand. Developing high performance materials for variety of applications for example for, automotive, electrical electronics, and industrial, is the focus of this company. Celanese Corporation invests a considerable portion of its financial resources and expertise in researching and developing high-performance materials with next-generation potential. Under their strategic sustainability and innovation agenda, they reflect on their product pool to comply with performance and environmental standards or even outperform them if possible. Celanese Corporation has a presence in several countries, with its manufacturing bases located in North America, Europe, and Asia.

Mitsubishi Chemical Corporation is another important competitor in the Polyoxymethylene Pom Market that produces a variety of high-quality polyoxymethylene under the brand name Duracon. For the automotive industry in different parts of the world, Mitsubishi Chemical Corporation serves as the major supplier. They have a strong presence in the automotive supply chain of the leading automobile manufacturers. Moreover, Mitsubishi Chemical Corporation also supplies polyoxymethylene to the electrical and electronic industries for the manufacture of electrical and electronic devices.

Key Companies in the Polyoxymethylene Pom Market Include

• Evonik


• Sumitomo Chemical


• Polyplastics


• DuPont


• Celanese Corporation


• SABIC


• Mitsubishi Chemical


• SK Global Chemical


• BASF


• LG Chem


• China Petroleum Chemical Corporation


• Toray Industries

Polyoxymethylene Pom Market Industry Developments

The global Polyoxymethylene (POM) market is projected to reach USD 2.2 billion by 2032, exhibiting a CAGR of 4.13% during the forecast period. Rising demand for POM in the automotive and electrical electronics industries is driving market growth. In the automotive sector, POM is used in components such as gears, bearings, and interior parts due to its high strength, stiffness, and wear resistance. In the electrical electronics industry, POM is utilized in connectors, switches, and insulators owing to its excellent electrical insulation properties. Additionally, the growing adoption of POM in medical devices, consumer products, and industrial applications is contributing to market expansion. Key industry participants are focusing on expanding their production capacities and introducing innovative POM grades to meet the evolving demands of end-use industries.

Polyoxymethylene Pom Market Segmentation Insights

Polyoxymethylene Pom Market Type Outlook

• Homopolymer


• Copolymer

Polyoxymethylene Pom Market Application Outlook

• Automotive


• Electrical and Electronics


• Consumer Goods


• Industrial Machinery


• Medical and Healthcare

Polyoxymethylene Pom Market Processing Method Outlook

• Injection Molding


• Extrusion


• Other Processing Methods

Polyoxymethylene Pom Market Grade Outlook

• Standard Grade


• High-Performance Grade


• Specialty Grade

Polyoxymethylene Pom Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa