Polyoxymethylene Market

Polyoxymethylene Market Size by Type (Homopolymer POM and Copolymer POM), Application (Automotive Components, Consumer Goods, Electrical and Electronics, Industrial, and Medical Devices), Form (Granules, Powder and Sheet), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14579
  • Published Date: Nov, 2024
  • Pages: 231
  • Category: Chemicals & Materials
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global polyoxymethylene market was valued at USD 3 billion in 2023 and grew at a CAGR of 5% from 2024 to 2033. The market is expected to reach USD 4.88 billion by 2033. The growing applications of polyoxymethylene across diverse industries will drive the growth of the global polyoxymethylene market.

Market Introduction:

Polyoxymethylene (POM), also called acetal or polyacetal, is a high-performance OX-based thermoplastic with high mechanical performance, low frictional coefficient, and high degree of dimensional stability. POM can be synthesized through two primary methods: formaldehyde polymerization or the reaction of polyformaldehyde with diesters or polyether diols. A special characteristic of POM is its high degree of crystalline structure and tensile strength setting it for applications that need quality precision and great strength. It has high tensile strength and the material has an excellent shock resistance to do well in the high-stress areas. Furthermore, there are low moisture absorption, and good resistant to chemicals and solvents making POM to perform well under different conditions. POM is implemented in a wide range of industries like the automotive industry, the consumer goods industry, and electronics industry. In the automotive production, it is applied in the production of fuel systems, gears, bearings and other precision parts because of its high temperature and load tolerance. In the electronics industry, the POM is used mainly because of its electrical insulating characteristics that ensures that components in electrical/ electronic systems perform optimally.

Polyoxymethylene Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • KOLON PLASTICS and BASF formed a 50:50 joint venture in 2016, which commenced operations at its new polyoxymethylene (POM) production plant in Gimcheon, Korea. With an annual total capacity of 150,000 metric tons, the new production, which has a capacity of 70,000 metric tons, joins KOLON PLASTICS' existing 80,000 metric tons of POM production capacity to become the largest POM production facility in the world.  The factory creates best-in-class POM products by fusing KOLON PLASTICS' extremely stable and efficient production capabilities—built over more than 20 years—with BASF's strict quality control system and energy-saving technologies.

Market Dynamics:

Drivers

The growing applications of polyoxymethylene across diverse industries – the rapidly developing car industry is one of the largest consumers of POM, which is used in the manufacture of drive, fuel, transmission, and structural elements. The rising demand for lightweight automobiles due to the global focus on improving fuel economy and minimizing carbon footprints has increased the demand for high performance plastics including POM. Advancements in electronics manufacturing add a boost to the demand of POM. With increasing miniaturization and increasing functionality of the devices, the requirement for reliable and simultaneously lightweight sub-assemblies has grown intensely. Due to the high electrical insulating properties of POM, it excels for applications in increasingly complex electronic devices. The continuous growth of the POM applications in other fields including medical devices and robotics also contribute to the market’s growth.

Restraints:

Volatile cost of raw materials the cost of raw materials and special processing requirements limit its expansion. First, POM is produced mainly from formaldehyde and other special chemicals, whose prices are volatile given the dynamic market forces, geopolitical uncertainties, and supply chain variations. When the cost of these raw materials is high it impacts the entire cost of manufacturing POM hence it cannot effectively compete with other similar materials such as Polyamide or Polypropylene. Higher levels of manufacturing technology have enhanced the manufacturing procedure of POM but the material of POM has some characteristics that make the processing difficult. Therefore, based on volatility associated with raw materials and difficulties in its processing, the global polyoxymethylene market will face limited growth.

Opportunities:

Technological advancements – Sustained technological improvements in manufacturing technology have boosted the use of polyoxymethylene (POM) in many sectors due to improvements in its production process. New improvements include enhanced mould making and injection moulding, and polymerization and better technological, enhanced methods of precision in the fabrication of intricate parts of POM. These technologies allow complex geometries and fine details while achieving good dimensional tolerances necessary for automotive, electronics and consumer durables. Advanced production machinery, automation and other related factors have led to cost reduction, better productivity etc. Consequently, the manufacturers are able to meet market needs faster and this will spur the growth of POM in various industries. therefore, technological advancements will propel the growth and demand for polyoxymethylene.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global polyoxymethylene market, with a 35% market revenue share in 2023.

This region has a well-developed automotive industry, and this industry turns out to be one of the biggest users of POM. The automotive companies involved are from the United States, Canada, and Mexico, and the requirement for high-performance material such as POM is always high. Finally, favourable regulations and robust markets in North America help the growth of the POM market as well. Over the long term, as industries remain a significant focus of performance and sustainability, North America should remain the leading market for POM into the foreseeable future.

North America Region Polyoxymethylene Market Share in 2023 - 35%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

Type Segment Analysis

The type segment is divided into homopolymer POM and copolymer POM. The homopolymer segment dominated the market, with a market share of around 57% in 2023. Currently, homopolymer polyoxymethylene (POM) dominates the market share of POM due to its mechanical characteristics for versatile use. This type of POM, which is produced from one kind of monomer, has an innately high mechanical strength, stiffness and impact strengths making it ideal for use in the automotive and consumer goods market. In fact, high tensile strength least abrasiveness inherent to the molecular structure of homopolymer POM qualifies it for mechanisms which contain sliding parts such as gears, bearings, and bolts. Additionally, homopolymer POM has relatively a high degree of processability. Further, continuous advancements in processing technologies as well as various combinations continually enhances the performance characteristics of homopolymer POM and strengthens the position in the market.

Application Segment Analysis

The application segment is divided into automotive components, consumer goods, electrical and electronics, industrial, and medical devices. The automotive components segment dominated the market, with a market share of around 38% in 2023. Automotive components are the single largest use for POM because it offers good mechanical properties and physical attributes that perfectly complements the challenges of the automotive sector. It’s very high tensile strength, stiffness as well as low value of friction coefficient make it suitable for diverse use for automotive components. In addition, POM materials can be easily shaped to achieve the complex shapes and patterns that could be usefully applied to cars to enhance their performance and appearance. In addition, progression towards establishment of electric vehicles increases the demand for POM. As the automobile industry continuously develops, the excellent performance advantages of POM make it a much better material for many car parts.

Form Segment Analysis

The form segment is divided into granules, powder and sheet. The granules segment dominated the market, with a market share of around 45% in 2023. Spherical shaped granules of polyoxymethylene (POM) are most preferred around the world primarily for the versatility and ease of processibility of this form in production industries. Granule form simplifies its handling and transporting also, and this enhances the production line for various producers. These granules also can be easily fed into injection moulding and extrusion machine, thus when put into the machines it is easy to mould small but complex components with high precision and ease of replication. The utilisation of POM granules has also been found to make the manufacturing operation more flexible. They can be combined with other components. Besides, during a production process, it is easier to avoid wastages since granules can be taken back and used again in the manufacture process. Processing efficiency with adaptability and sustainability enhancing factors makes granules the dominant form in the global polyoxymethylene market.

Some of the Key Market Players:
  • BASF SE
  • DuPont de Nemours, Inc.
  • Celanese Corporation
  • Covestro AG
  • Honeywell International Inc.
  • Kraton Corporation
  • Mitsubishi Engineering-Plastics Corporation
  • RTP Company
  • SABIC (Saudi Basic Industries Corporation)
  • Teijin Limited
  • LyondellBasell Industries N.V.
  • EMS-Chemie Holding AG
  • Zhejiang Juhua Co., Ltd.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 3 Billion
Market size value in 2033 USD 4.88 Billion
CAGR (2024 to 2033) 5%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type, Application and Form

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global polyoxymethylene market was valued at USD 3 billion in 2023 to USD 4.88 billion by 2033.

Global polyoxymethylene market is growing at a CAGR of 5% during the forecast period 2024-2033.

The market's growth will be influenced by the growing applications of polyoxymethylene across diverse industries.

Volatile cost of raw materials could hamper the market growth.

Request Table of Content

+1

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global polyoxymethylene market based on below mentioned segments:

Global Polyoxymethylene Market by Type:

  • Homopolymer POM
  • Copolymer POM

Global Polyoxymethylene Market by Application:

  • Automotive Components
  • Consumer Goods
  • Electrical and Electronics
  • Industrial
  • Medical Devices

Global Polyoxymethylene Market by Form:

  • Granules
  • Powder
  • Sheet

Global Polyoxymethylene Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date