Polyoxymethylene (POM) Market By Product Type (Homopolymer, Copolymer), Application (Electrical & Electronics, Automotive, Construction, Consumer Goods), Grade (General Purpose, Flame Retardant, UV Stabilized, Lubricated, Conductive), & Region for 2024-2031
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPolyoxymethylene (POM) Market By Product Type (Homopolymer, Copolymer), Application (Electrical & Electronics, Automotive, Construction, Consumer Goods), Grade (General Purpose, Flame Retardant, UV Stabilized, Lubricated, Conductive), & Region for 2024-2031
Polyoxymethylene (POM) Market Valuation – 2024-2031
In 2024, the Polyoxymethylene (POM) Market was valued at USD 5.12 Billion and it is projected to reach USD 7.28 Billion by 2031, with a growth CAGR of 4.50% from 2024 to 2031. Significant expansion in automotive production and the rising need for durable and lightweight materials contribute to the market’s expansion. By 2031, the market is anticipated to be propelled further by technological advancements and the widening application scope of POM across diverse industries.
Polyoxymethylene (POM) MarketDefinition/Overview
Polyoxymethylene (POM), also known as acetal, is a highly valued thermoplastic prized for its exceptional properties. It is synthesized from formaldehyde, undergoing polymerization. This process results in a robust material known for its low friction coefficient, dimensional stability, and high stiffness. These advantageous properties translate into a wide range of applications in various industries.
This compound finds particular application in the electrical and electronics sector due to its excellent electrical insulation properties. Its dimensional stability makes it suitable for precise components. In the automotive industry, POM’s lightweight nature positions it as a favorable alternative to metals, contributing to fuel efficiency. Construction applications also benefit from POM’s chemical resistance and durability. Beyond these sectors, POM’s wear resistance and low friction make it valuable in consumer goods like appliances and sporting equipment.
What's inside a
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Polyoxymethylene (POM) Market Restraints
Several factors can act as restraints or challenges for the Polyoxymethylene (POM) Market. These may include
- Â High creation Costs Polymerization and compounding are two of the many expensive processes involved in the creation of POM. Production costs may also rise as a result of changes in labor costs, energy prices, and raw material prices.
- Â Environmental Regulations Using chemicals and energy-intensive procedures during POM manufacture raises environmental problems. POM manufacturers may be subject to significant compliance expenses and operating constraints as a result of strict environmental requirements pertaining to emissions, waste management, and chemical consumption.
-  Competitive Alternatives Polypropylene (PP), polyethylene (PE), and technical plastics including polycarbonate (PC) and polyamide (PA) are competitors for POM. The POM market’s expansion may be hampered by these materials’ potential to provide comparable or superior qualities at cost-effective pricing.
-  Price volatility for raw materials Formaldehyde, which is made from methanol, is the main source of POM. Price fluctuations for methanol and other raw materials used in POM production can have an effect on POM firms’ total cost structures and profitability.
- Â Decline in End-Use Industries POM is extensively utilized in the consumer products, automotive, and electrical industries. The demand for POM goods may be directly impacted by any slowdown or downturn in these end-use industries, such as consumer spending or the manufacturing of automobiles.
- Â Technological Developments The historic dominance of POM in some applications may be threatened by the creation of new materials with better performance qualities and lower costs as a result of developments in material science and polymer technology.
- Â Supply Chain Disruptions The procurement, production, and distribution of raw materials in the POM sector are all dependent on a convoluted worldwide supply chain. POM product availability and cost can be affected by supply chain disruptions brought on by things like natural catastrophes, geopolitical unrest, or problems with transportation.
- Â Health and Safety Issues During the POM production process, potentially dangerous materials and chemicals are handled. Product toxicity, worker safety, and regulatory compliance are some of the issues that might impact how POM goods are viewed and received in the marketplace.
What Factors are Driving the Growth of the Polyoxymethylene (POM) Market?
Increasing demand across various industries such as automotive, consumer goods, electrical, and industrial sectors is contributing significantly to market expansion. In these sectors, POM is valued for its exceptional mechanical properties, including high stiffness, toughness, and dimensional stability, making it suitable for a wide range of applications. The substantial expansion in automotive production is a key driver for the POM market. Automotive manufacturers are increasingly adopting POM due to its excellent performance characteristics, such as resistance to fuels, chemicals, and abrasion.
The automotive industry’s growing emphasis on lightweight materials to enhance fuel efficiency and reduce emissions further fuels the demand for POM. Moreover, the rising need for durable materials in consumer goods applications is boosting the demand for POM. Products such as zippers, buckles, handles, and toys benefit from POM’s high strength, toughness, and resistance to wear and tear. This trend is particularly evident as consumers increasingly prioritize products with enhanced durability and longevity.
The electrical industry is another significant driver for the POM market. POM’s excellent electrical insulation properties make it suitable for a wide range of electrical applications, including switches, connectors, and insulating components. As the demand for reliable and high-performance electrical products continues to rise, the demand for POM is expected to grow accordingly. In addition to these factors, the industrial sector’s reliance on POM for various applications such as valves, bearings, conveyor belts, and gears further contributes to market growth. POM’s high mechanical strength and resistance to chemicals and abrasion make it well-suited for demanding industrial environments. Overall, the growth of the Polyoxymethylene (POM) Market is driven by increasing demand across multiple industries, including automotive, consumer goods, electrical, and industrial sectors. As technological advancements continue to enhance POM’s properties and expand its application scope, the market is poised for continued growth in the foreseeable future.
How will Financial Downturns Impact the Sales of the Polyoxymethylene (POM) Market?
A slowdown in demand across key industries such as automotive, consumer goods, electrical, and industrial sectors is significantly impacting market performance. This decline can be attributed to various factors such as economic downturns, shifts in consumer preferences, and market saturation, resulting in reduced demand for POM in these sectors. Increased competition from alternative materials is exerting pressure on POM sales. Alternatives offering comparable or superior properties to POM, along with lower costs, are gaining traction in the market. This intensifying competition is compelling customers to explore alternative solutions, thereby dampening the demand for POM. Regulatory measures aimed at reducing environmental impact and promoting sustainable practices are driving the adoption of eco-friendly materials over traditional ones like POM. As a result, manufacturers and end-users are increasingly seeking alternatives that align with stringent regulatory requirements, further hampering POM sales.
Additionally, supply chain disruptions and raw material shortages are impacting the availability and affordability of POM products. Fluctuations in raw material prices, geopolitical tensions, and unforeseen events such as natural disasters or pandemics can disrupt the supply chain, leading to delays in production and delivery. These disruptions not only affect market stability but also erode customer confidence, contributing to the decline in POM sales.
Technological advancements and innovations in materials science are leading to the development of novel materials with enhanced properties and functionalities, posing a threat to traditional materials like POM. As industries evolve and demand more advanced solutions, the market for POM faces increasing pressure to innovate and adapt to changing market dynamics.
Category-Wise Acumens
Which Product Type Category Holds the Dominant Market Share in the Polyoxymethylene (POM) Market?
In the Polyoxymethylene (POM) Market, the dominant market share is held by the copolymer product type category. This dominance is attributed to several factors contributing to the widespread adoption of copolymer POM across various industries. Copolymer POM offers distinct advantages such as improved thermal stability, chemical resistance, and processing flexibility compared to homopolymer POM. These enhanced properties make copolymer POM well-suited for a diverse range of applications, driving its popularity among manufacturers and end-users alike. Copolymer POM’s versatility enables its utilization in critical applications where stringent performance requirements must be met. Industries such as automotive, consumer goods, electrical, and industrial sectors benefit from copolymer POM’s exceptional properties, including high mechanical strength, toughness, and dimensional stability. This broad applicability across multiple industries contributes significantly to copolymer POM’s dominant market share.
Its ability to address specific industry needs and regulatory requirements further strengthens its position in the market. As industries evolve and demand materials with advanced properties and functionalities, copolymer POM emerges as a preferred choice due to its superior performance characteristics and compatibility with regulatory standards. Furthermore, copolymer POM’s competitive pricing relative to its homopolymer counterpart enhances its attractiveness to manufacturers seeking cost-effective solutions without compromising on performance. This favorable cost-performance ratio drives the widespread adoption of copolymer POM in various applications, consolidating its position as the dominant product type category in the market.
Will the Automotive Segment Turn into an Epicenter of Growth in the Polyoxymethylene (POM) Market?
Automotive manufacturers are increasingly recognizing the value of POM due to its exceptional mechanical properties, including high stiffness, toughness, and resistance to fuels and chemicals. These properties make POM an ideal choice for various automotive components such as fuel systems, interior parts, gears, and under-the-hood components. The automotive industry’s growing emphasis on lightweight materials to enhance fuel efficiency and reduce emissions further accelerates the adoption of POM. As automotive manufacturers strive to meet stringent regulatory standards and consumer demands for more eco-friendly vehicles, the demand for lightweight materials like POM is expected to surge.
The automotive sector’s rapid expansion in emerging markets, coupled with increasing vehicle production globally, presents significant growth opportunities for POM manufacturers. As emerging economies witness rising disposable incomes and urbanization, the demand for automobiles is expected to escalate, driving the need for POM in automotive applications.
Additionally, technological advancements in automotive design and manufacturing are driving the adoption of POM in innovative applications. From advanced safety systems to electric and autonomous vehicles, POM finds diverse applications in modern automotive technologies, further fueling its demand within the automotive segment. In summary, the automotive segment is poised to emerge as an epicenter of growth in the Polyoxymethylene (POM) Market, driven by increasing demand, the emphasis on lightweight materials, rapid expansion in emerging markets, technological advancements, and collaborative initiatives.
Gain Access to Polyoxymethylene (POM) Market Report Methodology
Country/Region Wise Acumens
Could Asia Pacific Drive an Increase in Sales within the Polyoxymethylene (POM) Market?
Asia Pacific is witnessing rapid industrialization and economic development, leading to increased demand for POM across various industries such as automotive, consumer goods, electrical, and industrial sectors. As manufacturing activities expand in countries like China, India, and Japan, the demand for POM as a versatile engineering plastic is expected to rise significantly. The region’s burgeoning automotive industry presents substantial growth opportunities for POM manufacturers. With the region being a hub for automotive production, there is a growing need for high-performance materials like POM in automotive applications. As automotive manufacturers in Asia Pacific strive to meet evolving consumer preferences and stringent regulatory standards, the demand for POM is anticipated to surge, further driving sales growth in the region.
The increasing adoption of POM in consumer goods manufacturing is contributing to sales growth in Asia Pacific. As disposable incomes rise and urbanization accelerates in countries across the region, there is a growing demand for durable and high-quality consumer goods. POM’s excellent mechanical properties, including high stiffness, toughness, and resistance to wear and tear, make it an attractive choice for various consumer products such as zippers, buckles, handles, and toys. The region’s expanding electrical and electronics industry presents lucrative opportunities for POM sales.
With the region being a major manufacturing hub for electronic devices and components, there is a growing demand for POM in electrical applications such as switches, connectors, and insulating components. The increasing need for reliable and high-performance electrical products further drives the demand for POM in the region. Therefore, Asia Pacific is poised to drive an increase in sales within the Polyoxymethylene (POM) Market, fueled by rapid industrialization, the burgeoning automotive industry, the growing demand for consumer goods, and the expanding electrical and electronics sector.
Will Europe Create Lucrative Opportunities for Polyoxymethylene (POM) Market?
The sales of the Polyoxymethylene (POM) Market are expected to fare well in Europe. Europe boasts a robust industrial sector with diverse manufacturing activities across various industries such as automotive, consumer goods, electrical, and industrial sectors. As a result, there is a steady demand for high-performance materials like POM in these industries, driving sales growth. Moreover, the region’s automotive industry presents significant opportunities for POM sales. With renowned automotive manufacturers and a strong emphasis on innovation and sustainability, there is a growing demand for lightweight and durable materials like POM in automotive applications. As automotive OEMs in Europe prioritize the adoption of eco-friendly materials to meet stringent emissions regulations and consumer preferences, the demand for POM is expected to remain buoyant.
Europe’s consumer goods sector offers promising prospects for POM sales. As consumers increasingly seek durable and high-quality products, manufacturers in the region are turning to materials like POM to meet these demands. The versatility of POM makes it suitable for a wide range of consumer goods applications, including zippers, buckles, handles, and toys, further fueling its adoption in the European market. The region’s focus on sustainability and regulatory compliance bodes well for POM sales. With stringent environmental regulations and standards in place, there is a growing preference for materials that offer recyclability and environmental friendliness. POM manufacturers in Europe are responding to these demands by developing eco-friendly POM formulations, thereby enhancing their market competitiveness and driving sales growth.
Competitive Landscape
Analyzing the competitive landscape of the Polyoxymethylene (POM) Market is crucial for gaining insights into the industry’s dynamics. This research aims to delve into the competitive landscape, focusing on key players, market trends, innovations, and strategies. This analysis will provide valuable insights to industry stakeholders, assisting them in adeptly navigating the competitive environment and seizing emerging opportunities. Understanding the competitive landscape will enable stakeholders to make informed decisions, align with market trends, and formulate strategies to strengthen their market position and competitiveness in the Polyoxymethylene (POM) Market.
Some of the prominent players operating in the Polyoxymethylene (POM) Market include
- Celanese Corporation
- Daicel Corporation
- DuPont
- Korea Engineering Plastics Co. Ltd.
- Mitsubishi Chemical Corporation
- China BlueChemical Ltd.
- Henan Energy Group Co. Ltd.
- Kolon BASF innoPOM, Inc.
- SABIC
- Yuntianhua Group Co. Ltd.
 Latest Developments
- In May 2022, the expansion of its production facility for POM resin in China was undertaken by MGC through the acquisition of a 30% equity stake in P Holdings Inc. by its subsidiary Global Polyacetal Co. Ltd.
- In March 2022, the restructuring of Korea Engineering Plastics Co. (KEP), a joint venture equally owned by Celanese Corporation and Mitsubishi Gas Chemical Company Inc., was announced as completed by Celanese. With this completion, Celanese gained access to approximately 70KTA of POM production in Asia, along with corresponding global marketing rights.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~ 4.50% from 2024 to 2031 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | Celanese Corporation, Daicel Corporation, DuPont, Korea Engineering Plastics Co. Ltd., Mitsubishi Chemical Corporation, China BlueChemical Ltd., Henan Energy Group Co. Ltd., Kolon BASF innoPOM, Inc., SABIC, Yuntianhua Group Co. Ltd. |
| Customization | Report customization along with purchase available upon request |
Polyoxymethylene (POM) Market, By Category
Product Type
- Homopolymer
- Copolymer
Application
- Electrical & Electronics
- Automotive
- Construction
- Consumer Goods
Grade
- General Purpose
- Flame Retardant
- UV Stabilized
- Lubricated
- Conductive
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Research Methodology of Market Research
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy