Polyoxymethylene Market is segmented by Type (Homopolymer POM and Copolymer POM), by Grade Type (Standard, Reinforced, Impact Modified, Recycled, UV Stabilized, Special Grade, and Others), by End-User Industry Type (Electrical and Electronics, Transportation, Medical, Food Packaging, Consumer Goods and Appliances, Construction, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
The Polyoxymethylene Pom Market is expected to grow from USD 4.84billion in 2022 to USD 6.59billion by 2028 at a CAGR of 5.22% during the forecast period.
Polyoxymethylene is a semi-crystalline engineering thermoplastic that is majorly used to create high-precision parts for different applications which require good dimensional stability and sliding properties. It exhibits various properties which include excellent wear resistance, low coefficient of friction, high degree of crystallinity, excellent dimensional stability, and resistance against chemical and organic solvents, among others. There are different grades of polyoxymethylene which have different properties for different applications. These grades include reinforced grade, toughened grade, UV stabilized grade, nanocomposites, and others. Certain limitations associated with the material include poor resistance against strong acids, bases, and oxidizing agents, easy burning without a suitable stabilizer system, high mold shrinkage, and poor resistance to UV radiation.
Demand for polyoxymethylene is rising from the pharma and medical sectors as well as from the industrial sector. Due to the emergence of the pandemic, the demand for the product from the medical sector has increased as a result of increased healthcare spending by various nations, which ultimately boosted the market for polyoxymethylene.
The increasing use of polyoxymethylene in the electrical and electronics, and automotive industries is the major factor driving the growth of the market. Polyoxymethylene is increasingly used in the electrical and electronics sector owing to its exceptional durability and thermal insulation capabilities whereas it is used in manufacturing various automotive parts as it reduces the overall weight of the vehicle for reduction of vehicular emissions. Furthermore, increasing R&D expenditure in the electrical and automobile industries would also support the growth of the market over the forecast period.
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Type
Homopolymer POM
Copolymer POM
By Grade Type
Standard
Reinforced
Impact Modified
Recycled
UV Stabilized
Special Grade
Others
By End-User Industry Type
Electrical and Electronics
Transportation
Medical
Food Packaging
Consumer Goods and Appliances
Construction
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By Type
The market is bifurcated into homopolymer POM and copolymer POM. Copolymer POM is likely to remain the more utilized type of polyoxymethylene in the foreseen future owing to its high processibility. It is preferred for various applications which demand a low coefficient of friction.
Based on the grade type, the market is segmented as standard, reinforced, impact modified, recycled, UV stabilized, special grade, and others. Standard grade is expected to remain the most preferred grade type of the polyoxymethylene market during the forecast period. It is mostly utilized in the production of medical devices, surgical tool handles, automobiles, and other different components. The standard grade polyoxymethylene market is likely to grow in the future with a favorable outlook for the use of plastics in the medical sector.
By End-User Industry Type
The market is segmented as electrical and electronics, transportation, medical, food packaging, consumer goods and appliances, construction, and others. Among these application types, the electrical and electronics industry is likely to remain the biggest demand generator for polyoxymethylene during the forecast period. Polyoxymethylene is increasingly used in the electrical and electronics industry, owing to its various properties, such as good electrical and thermal insulation, easy-to-modify nature, lightweight, and shatter resistance. Electric housing, circuit boards, switches and wiring components, enclosures, sockets and connectors, cooling systems, etc. are some of the important applications of polyoxymethylene in the electronics industry.
Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest market for polyoxymethylene over the forecast period on account of the high consumption of polyoxymethylene in the region, especially in China as the country has the presence of various electrical and electronics, and automobile industries. Furthermore, Asia-Pacific is also likely to exhibit the highest growth over the forecast period owing to the increasing demand from the developing economies in the region.
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Key Players
The following are some of the key players in the polyoxymethylene market:
Dow DuPont
Kolon BASF innoPOM Inc.
China National Bluestar (Group) Co. Ltd
Asahi Kasei Corporation
Korea Engineering Plastics Co. Ltd
Mitsubishi Engineering-Plastics Corporation
Polyplastics Co. Ltd
Celanese Corporation
RTP Company
Polyone Corporation
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polyoxymethylene market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Polyoxymethylene Pom Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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Dow DuPont, Kolon BASF innoPOM Inc., China National Bluestar (Group) Co. Ltd., Asahi Kasei Corporation, Korea Engineering Plastics Co. Ltd., Mitsubishi Engineering Plastics Corporation, Polyplastics Co. Ltd., Celanese Corporation, RTP Company, and Polyone Corporation are some of the key players in the market.
Asia-Pacific is estimated to be dominant in the polyoxymethylene market in the coming years owing to the high consumption of polyoxymethylene in the region.
Asia-Pacific is estimated to grow at the fastest rate in the coming five years owing to the increasing demand for polyoxymethylene from the developing economies in the region.
The electrical and electronics industry is likely to maintain its dominance in the market in the next five years on account of the increasing use of polyoxymethylene in the electrical and electronics industry owing to its various properties, such as electrical and thermal insulation, easy-to-modify nature, lightweight, and shatter-resistance, etc.
The increasing use of polyoxymethylene in the electrical and electronics, and automotive industry is the major factor driving the growth of the market.
