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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.
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.
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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.
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.
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.
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%
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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.
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.
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.
| 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 |
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.
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:
Global Polyoxymethylene Market by Application:
Global Polyoxymethylene Market by Form:
Global Polyoxymethylene Market by Region:
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