Polyoxymethylene (POM) Market: Information by Type (Acetal Homopolymer, Acetal Copolymer), Product (Unfilled, Glass Fiber Reinforced, Impact Modified, UV Resistant), End-Use Industry (Automotive, Electrical and Electronics, Industrial Machinery), and Region — Global Forecast till 2030
ID: MRFR/CnM/6109-HCR | 140 Pages | Published By Chitranshi Jaiswal on March 2023
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Polyoxymethylene (POM) Market
Polyoxymethylene (POM) Market is projected to be worth USD 7.6 Billion by 2028, registering a CAGR of 5.7% during the forecast period (2021 - 2028).
$7.6 Billion
5.7%
Asia-Pacific
2021-2028
Polyoxymethylene Market Overview
Polyoxymethylene (POM) Market is projected to be worth USD 7.6 Billion by 2028, registering a CAGR of 5.7% during the forecast period (2021 - 2028). owing to the growing application of POM in the electrical and electronics, and automotive industries. In terms of the volume, the market size may cross 2,092.410 kilotons by 2028, with a compound annual growth rate of 5.1% through the calculated duration. Polyoxymethylene (POM) is a thermoplastic that has different engineering properties like low friction, high stiffness, and excellent dimensional stability used for creating precise medical equipment, electronics components, automotive parts, and customer goods. Various chemical firms manufacture POM with a few changes in the formula and market using different trade names like Delrin, Duracon, etc. The increasing use of POM in electrical and electronics industries is due to their insulation and thermal properties, and excellent durability.
Global Polyoxymethylene (POM) Market Share, by Application, 2017 (%)
Source: MRFR Analysis
Regional Analysis
The market in Asia-Pacific held the largest share of the global POM market in 2017 and is expected to register a significant CAGR during the review period. The expanding automotive industry in the region coupled with the growth of the automotive aftermarket in the region are factors expected to drive the demand for POM. Besides, the electrical and electronics industry is growing significantly in the ASEAN region, which is expected to propel the demand for POM during the forecast period.
The European market is also expected to be the prominent market for POM on account of the presence of large number of automobile OEMs and stringent vehicular emission regulations.
The North American market is expected to register a healthy CAGR due to the rising demand for POM in major end-use industries, such as automotive and healthcare.
The Latin American market is expected to witness considerable growth due to the growing automotive industry and demand for consumer goods. The market in the Middle East & Africa is likely to exhibit considerable growth during the review period on account of growing industrialization in the region.
Segmentation
The global polyoxymethylene (POM) market has been segmented by type, product, end-use industry, and region.
Based on type, the global market has been segmented into acetal homopolymer and acetal copolymer
By product, the global market has been divided into unfilled, glass fiber reinforced, impact modified, UV resistant, electrically conductive, weather resistant, and others.
On the basis of end-use industry, the global market has been segregated into electrical and electronics, industrial machinery, consumer goods, automotive, sports, and others.
The global POM market, by region, has been studied concerning five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players operating in the global POM market are Polyplastics Co., Ltd (Japan), Celanese Corporation (US), DowDuPont (US), Mitsubishi Chemical Corporation (Japan), BASF SE (Germany), Korea Engineering Plastics Co., Ltd (South Korea), ChemChina (China), Asahi Kasei Corporation (Japan), SABIC (Saudi Arabia), PolyOne Corporation (US), Westlake Plastics Company (US), and KOLON PLASTICS INC (South Korea).Recent Development
Different applications regarding the use of POM are circuit boards, switches, electrical housing, connectors, cooling system, wiring, and sockets, and they make mass production more cost-efficient and hence, fetching more profits for the manufacturers. The application of polyoxymethylene (POM) makes the electronic uses more lightweight and offers a much better reduction in heating appliances that in return increases the life and durability of the products. Severe government rules and regulations regarding CO2 release have made automobile manufacturers reduce overall vehicle weights and the use of polyoxymethylene (POM) in manufacturing different automotive parts remarkably reduces the overall weight of the vehicle and helps in the depletion and makes it more economical. The recent growth in the RandD expenditures in the electrical automobile industry has helped drive the global polyoxymethylene (POM) market share since it creates the vehicles more affordable and lightweight. The pandemic has driven the polyoxymethylene market opportunities for the product among the medical uses.
Intended Audience
- POM Manufacturers
- Traders and Distributors of POM
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2028 : USD 7.6 Billion |
| CAGR | 5.7% (2021-2030) |
| Base Year | 2020 |
| Forecast Period | 2021 to 2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By type, product, end-use industry, and region. |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Polyplastics Co., Ltd (Japan), Celanese Corporation (US), DowDuPont (US), Mitsubishi Chemical Corporation (Japan), BASF SE (Germany), Korea Engineering Plastics Co., Ltd (South Korea), ChemChina (China), Asahi Kasei Corporation (Japan), SABIC (Saudi Arabia), PolyOne Corporation (US), Westlake Plastics Company (US), and KOLON PLASTICS INC (South Korea). |
| Key Market Opportunities | Growth of the electrical and electronics industry is expected to boost the demand. |
| Key Market Drivers | Increasing demand in end use industries, and replacement for plastics among others. |
Frequently Asked Questions (FAQ) :
The outlook of the global polyoxymethylene market looks very promising.
polyoxymethylene market is estimated to register 5.6% CAGR during the forecast period (2021-2028).
By type, the homopolymer segment and by end-use industry, the electrical and electronics segment account for the major share in the global polyoxymethylene market.
Asia Pacific holds the largest share in the global polyoxymethylene market, followed by North America and Europe, respectively.
Celanese Corporation (US), Polyplastics Co., Ltd (Japan), DowDuPont (US), BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Korea Engineering Plastics Co., Ltd (South Korea), Asahi Kasei Corporation (Japan), ChemChina (China), SABIC (Saudi Arabia), Westlake Plastics Company (US), PolyOne Corporation (US), and KOLON PLASTICS INC (South Korea), are some of the major players operating in the polyoxymethylene market.
