What are the Historical Developments and Current Growth Metrics of the Polyoxymethylene (POM) Market?
The polyoxymethylene (pom) market has seen considerable growth due to a variety of factors.
• The polyoxymethylene (POM) market has shown strong growth in recent years. It will grow from $5.02 billion in 2024 to $5.32 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%.
The growth is driven by demand from the automotive industry, the manufacturing of consumer goods, the replacement of metals and other plastics, the expansion of the electronics industry, and increased industrial applications.
What Does Future Hold for The Polyoxymethylene (POM) Market By 2029?
The polyoxymethylene (pom) market is expected to maintain its strong growth trajectory in upcoming years.
• The polyoxymethylene (POM) market is expected to grow steadily, reaching $6.63 billion by 2029 with a CAGR of 5.7%.
The growth is attributed to the rising demand from emerging economies, innovations in material science, sustainability initiatives, EV market growth, and medical sector expansion. Trends include bio-based POM, 3D printing, nanotechnology integration, and customized solutions.
What Are The Primary Growth Drivers In The Polyoxymethylene (POM) Market?
The polyoxymethylene (POM) market is projected to be buoyed by the continuous growth of the automobile sector. The automobile industry, which involves the designing, creation, manufacturing, marketing, and sale of vehicular transport such as cars, trucks, motorcycles, and buses is witnessing expansion. This growth is fueled by factors such as increasing urbanization, surges in disposable income, technological advancements, development in transport infrastructure, increased need for mobility solutions, and changing consumer desires toward convenience and comfort. Polyoxymethylene (POM) finds extensive usage in this industry for myriad applications such as interior and exterior adornments, door handles, fuel systems, gears, bearings, and more, owing to its superior mechanical characteristics, low friction coefficient, and resistance against wear and tear as well as chemicals. The European Automobile Manufacturers Association, a Belgium-based association, reported in May 2023 that the global production of motor vehicles witnessed a 5.7% increase, reaching 85.4 million compared to the figures of 2021. Therefore, the polyoxymethylene (POM) market's growth is being propelled by the booming automotive industry.
What Is The Segmentation Of The Global Polyoxymethylene (POM) Market?
The polyoxymethylene (POM) market covered in this report is segmented –
1) By Type: Homopolymer, Copolymer
2) By Forming Method: Injection Molding, Blow Molding, Extrusion
3) By Application: Circuit Boards, Wiring, Fuel Systems, Cooling Systems, Structural Glass, Metered Dose Inhalers, Small Gear Wheels, Ball Bearings, Door Lock Systems, Other Applications
4) By End User Industry: Aerospace, Automotive, Electrical And Electronics, Industrial And Machinery, Other End-User Industries
Subsegments:
1) By Homopolymer: High-Performance Homopolymer POM, Standard Homopolymer POM
2) By Copolymer: Polymer Grade Copolymer POM, High-Performance Copolymer POM
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Which Emerging Market Trends Are Altering The Polyoxymethylene (POM) Industry?
Leading firms in the polyoxymethylene (POM) market are creating innovative offerings such as eco-friendly polyoxymethylene products, in response to escalating environmental issues and the increasing need for sustainable materials across different sectors. These green polyoxymethylene products are essential in diminishing the environmental footprint whilst ensuring superior performance in numerous engineering uses. For example, BASF SE, a German chemical firm, in October 2022, introduced Ultraform LowPCF (Low Product Carbon Footprint) and Ultraform BMB (Biomass Balance). These versions of polyoxymethylene have a lesser environmental effect compared to conventional POM formulations. Ultraform LowPCF aims to decrease carbon emissions linked to its production, whereas Ultraform BMB integrates biomass-sourced raw materials in its manufacturing process, thus improving its sustainability characteristics further.
Who Are the Key Players In The Polyoxymethylene (POM) Market?
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.
What Are The Regional Insights Into The Polyoxymethylene (POM) Market?
Asia-Pacific was the largest region in the polyoxymethylene market in 2024. The regions covered in the polyoxymethylene (POM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
