Polyoxymethylene (POM) Global Market Report 2024

The polyoxymethylene (POM) market size has grown strongly in recent years. It will grow from $4.76 billion in 2023 to $5.02 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historic period can be attributed to several factors, including the demand from the automotive industry, manufacturing of consumer goods, substitution of metal and other plastics, growth in the electronics industry, and expanding industrial applications.

The polyoxymethylene (POM) market size is expected to see strong growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to several factors, including increasing demand from emerging economies, advancements in material science leading to innovation, sustainability initiatives driving market growth, expansion of the electric vehicles (EVs) market, and growth in the medical and healthcare sectors. Major trends expected in the forecast period include the heightened adoption of bio-based polyoxymethylene, the expansion of 3D printing applications, integration of nanotechnology, focus on customization and tailored solutions, and increased collaboration and partnerships within the industry.

The expansion of the polyoxymethylene (POM) market is anticipated to be driven by the growth of the automotive industry in the foreseeable future. The automotive industry encompasses the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, motorcycles, and buses. Factors such as increasing urbanization, rising disposable incomes, technological advancements, expanding transportation infrastructure, growing demand for mobility solutions, and evolving consumer preferences towards convenience and comfort are contributing to the growth of the automotive sector. Polyoxymethylene (POM) finds widespread use in the automotive industry for various applications, including interior and exterior trims, door handles, fuel systems, gears, bearings, and other components, owing to its excellent mechanical properties, low friction coefficient, and resistance to wear and chemicals. For example, data from the European Automobile Manufacturers Association in May 2023 indicated a global production of 85.4 million motor vehicles, marking a 5.7% increase compared to 2021. Therefore, the expansion of the automotive industry is propelling the growth of the polyoxymethylene (POM) market.

Key players in the polyoxymethylene (POM) market are focusing on the development of innovative products, such as sustainable polyoxymethylene offerings, to address rising environmental concerns and cater to the growing demand for eco-friendly materials across various industries. Sustainable polyoxymethylene products play a vital role in reducing environmental impact while maintaining high performance in diverse engineering applications. For instance, BASF SE, a Germany-based chemicals company, introduced Ultraform LowPCF (Low Product Carbon Footprint) and Ultraform BMB (Biomass Balance) in October 2022. These variants of polyoxymethylene are engineered to minimize environmental impact compared to traditional POM formulations. Ultraform LowPCF targets carbon emission reduction during production, while Ultraform BMB incorporates biomass-derived raw materials into its manufacturing process, further enhancing sustainability.

In November 2023, TJP LP, a US-based private equity firm, acquired Delrin USA LLC for an undisclosed sum. This acquisition grants TJC LP access to Delrin's esteemed brand, advanced technology, and loyal customer base, strengthening its position in the engineered materials sector and creating new opportunities for collaboration and innovation with clients across diverse industries. Delrin USA LLC specializes in manufacturing homopolymer materials, including polyoxymethylene.

Major companies operating in the polyoxymethylene (POM) market are BASF SE, LG Chem Ltd., China National Chemical Corporation, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation, Sumitomo Chemical Company, Asahi Kasei Corporation, Solvay S.A., DuPont De Nemours Inc., Arkema S.A., Yuntianhua Group Co. Ltd., Celanese Corporation, Kolon Plastics Inc., Daicel Corporation, Avient Corporation, China BlueChemical Ltd., Ensinger GmbH, Reinforced ThermoPlastics Company, Westlake Plastics Company, Korea Engineering Plastics Co. Ltd., Polyplastics Co. Ltd., Ticona Polymers Inc.

Asia-Pacific was the largest region in the polyoxymethylene market in 2023. The regions covered in the polyoxymethylene (POM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the polyoxymethylene (POM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polyoxymethylene (POM) stands out as a versatile engineering thermoplastic celebrated for its outstanding mechanical properties, which include high stiffness, strength, and dimensional stability. It finds widespread use across various industries for applications such as precision parts in automotive, electrical, and consumer goods, thanks to its remarkable wear resistance, low friction, and chemical inertness.

The primary types of polyoxymethylene (POM) include homopolymer and copolymer. Homopolymer denotes a polymer composed solely of one type of monomer repeated throughout the chain. Forming methods such as injection molding, blow molding, and extrusion are employed for various applications including circuit boards, wiring, fuel systems, cooling systems, structural glass, metered dose inhalers, small gear wheels, ball bearings, door lock systems, and others. These applications span across diverse industries including aerospace, automotive, electrical and electronics, industrial machinery, and others.

The polyoxymethylene (POM) research report is one of a series of new reports that provides polyoxymethylene (POM) market statistics, including the polyoxymethylene (POM) industry's global market size, regional shares, competitors with a polyoxymethylene (POM) market share, detailed polyoxymethylene (POM) market segments, market trends and opportunities, and any further data you may need to thrive in the polyoxymethylene (POM) industry. This polyoxymethylene (POM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The polyoxymethylene(POM) market consists of sales of gears, bearings, bushings, valves, conveyor belts, and electrical components. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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