New York (US), June 27, 2023 (GLOBE NEWSWIRE) -- Polyoxymethylene Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Polyoxymethylene Market Information by Type, Product, End Use, and Region - Forecast till 2032”, Polyoxymethylene Market could thrive at a rate of 5.70% between 2023 and 2032. The market size will be reaching around USD 8.39 Billion by the end of the year 2032.
Market Synopsis
Polyoxymethylene (POM), also known as acetal or polyacetal, is a high-performance engineering plastic widely used in various industries. It is a thermoplastic polymer known for its excellent mechanical properties, including high stiffness, low friction, good dimensional stability, and resistance to wear and chemicals. POM is characterized by its high strength and resistance to moisture absorption, making it suitable for applications requiring durability, precision, and reliability.
Polyoxymethylene finds extensive application in numerous industries. It is commonly used in automotive components, such as gears, fuel system components, and door handles, due to its exceptional mechanical strength and resistance to fuels and oils. POM is also widely employed in the electrical and electronics industries for connectors, switches, and insulators. Additionally, its low friction properties make it suitable for applications like bearings, conveyor belts, and gears in industrial machinery. The excellent dimensional stability of POM makes it a preferred choice for precision parts in the medical and consumer goods sectors.
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Market Competitive Landscape:
The affluent companies in the Polyoxymethylene industry include
- Polyplastics Co Ltd
- Celanese Corporation
- DowDuPont
- Mitsubishi Chemical Corporation
- BASF
- Korea Engineering Plastics Co Ltd
- Chem China
- Asahi Kasei Corporation
- SABIC
- PolyOne Corporation
- Westlake Plastics Company
- Kolon Plastics Inc
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 8.39 Billion |
| CAGR | 5.70% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023–2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Product, End Use Industry,and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increase in awareness regarding carbon emissions and growing transportation sector |
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March 2022
Dupont has expanded its sustainable product line, Delrin Renewable Attributed, by introducing five new grades of polyoxymethylene (POM). These POM grades are suitable for various applications, including those in the food and pharmaceutical industries. Specifically designed for medical purposes, two of the new grades, Delrin RASC655 and Delrin RASC698, offer a reduced environmental impact compared to Dupont's existing POM product range.
Market USP Covered:
Market Drivers:
The expansion of the automotive industry, driven by rising vehicle production and increasing demand for lightweight and durable components, fuels the demand for polyoxymethylene. POM's excellent mechanical properties and resistance to chemicals and wear make it ideal for automotive applications, driving market growth. The growing electronics industry, coupled with the increasing need for reliable electrical components, drives the demand for POM. Its electrical insulation properties, resistance to creep, and dimensional stability make it suitable for connectors, switches, and other electronic components, contributing to market growth.
Market Restraints:
The production of POM involves the use of raw materials such as formaldehyde, which is subject to price fluctuations. These price variations can impact the overall production cost and profitability for manufacturers. Additionally, the increasing environmental concerns and regulations regarding the use and disposal of plastic materials pose challenges for the polyoxymethylene market, pushing manufacturers to explore more sustainable alternatives.
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COVID 19 Analysis
The COVID-19 pandemic had a significant impact on the polyoxymethylene market. The temporary shutdown of manufacturing facilities, disrupted supply chains, and reduced demand from end-use industries led to a decline in market growth. However, as economies recover and industries resume operations, the market is expected to rebound. The post-COVID scenario may witness a surge in demand for POM as industries strive to restore their operations and meet the growing consumer demand.
Market Segmentation
By Type
By Type, the segment includes Acetal Homopolymer and Acetal Copolymer.
By Product
By Product, the segment includes Unfiled, Glass Fiber Reinforced, Impact Modified, and UV Resistant.
By End Use
By End Use, the segment includes Automotive, Electrical & Electronics, and Industrial machinery.
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Regional Insights
North America commands a significant share of the polyoxymethylene (POM) market, benefiting from its robust automotive industry, technological advancements, and a strong focus on research and development. The U.S., in particular, plays a key role in driving market growth, given its high demand for POM in automotive and electrical applications.
Europe stands out as another prominent region in the polyoxymethylene market. The well-established automotive industry in the region, coupled with stringent regulations on vehicle emissions and a focus on lightweight materials, drives the demand for POM. Major contributors to the market in Europe include Germany, France, and Italy, where a strong presence of automotive manufacturers further amplifies the demand for POM.
Asia-Pacific emerges as a rapidly growing region in the polyoxymethylene market. The region's increasing industrialization, rising automotive production, and growing electronics industry contribute to the escalating demand for POM. Key players in the market within Asia-Pacific include China, Japan, and South Korea, benefitting from their robust manufacturing sectors and advancements in technology. These countries offer immense growth potential for polyoxymethylene manufacturers, fueled by the region's dynamic market dynamics and expanding customer base.
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