Polyoxymethylene (POM) Market 2022 Key Factors and Emerging Opportunities with Current Trends Analysis 2028

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). because POM is being used more and more in the electrical, electronic, and automotive industries. By 2028, the market might reach a volume of 2,092.410 kilotons, with a 5.1% compound annual growth rate over the estimated time frame. Thermoplastic polyoxymethylene (POM) is used to make precision medical equipment, electronics components, automotive parts, and consumer items because it has a variety of engineering features including low friction, high stiffness, and outstanding dimensional stability. With a few minor formula variations, POM is produced by numerous chemical companies and sold under a variety of trade names, including Delrin, Duracon, etc. POM is being used more and more in Due to their exceptional durability, insulation, and thermal qualities, the electrical and electronics sectors.

Market Segmentation :

Based on type, application, end-use industry, and geography, the global polyoxymethylene (POM) market has been divided. Acetal copolymer and acetal homopolymer are the two categories into which the global market has been divided. The homopolymer market category has the biggest market share and is anticipated to keep leading during the forecast period. The demand is anticipated to be driven by the increasing use of acetal homopolymer in the manufacture of automotive parts including gear components, wiper components, and others.

The global market has been divided into unfilled, glass fibre reinforced, impact modified, UV resistant, electrically conductive, weather resistant, and others depending on the type of product. In 2017, the unfilled or general sector held the biggest market share. By the conclusion of the forecast period, the segment is anticipated to lose some basis points to reinforced type, as glass-reinforced POM is becoming a more popular substitute for unfilled POM. The demand is ascribed to the higher strength, stiffness, and creep resistance of glass fiber-reinforced POM compared to empty POM.

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The global market has been divided into electrical and electronics, industrial machinery, consumer products, automotive, sports, and other categories based on end-use industries. In terms of value and tonnage, the electrical and electronics sector held the biggest market share. The automotive sector closely followed the latter in 2017. The high insulating qualities, moldability, and other characteristics of POM are credited with driving its demand in the electrical and electronic industries. As a result, it is anticipated that the demand for POM will be driven by the expanding electrical and electronics sector in the developing nations of Asia-Pacific.

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Regional Analysis :

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the five regions of the world’s POM market.

Due to its expanding end-use industries, particularly the automotive and electrical & electronics sectors, Asia-Pacific is predicted to have the greatest share of the worldwide POM market. The region is also the main producer of POM.

Due to the rising demand in the automotive, electronics and electrical, and healthcare sectors, North America and Europe are anticipated to be the two most important markets for POM. However, during the anticipated period, there is predicted to be little demand in the regional markets.

Due to the expanding end-use industries in these regions, the Latin American and Middle East & Africa markets are predicted to increase moderately throughout the study period.

Key Players :

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).

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