The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Introduction

The polyoxymethylene (POM) market has experienced robust growth and is set to continue expanding. From $4.76 billion in 2023, the market is projected to reach $5.02 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. This trend is expected to continue, with the market estimated to grow to $6.28 billion by 2028 at a CAGR of 5.7%. Here’s an overview of the key drivers, trends, and innovations shaping the POM market.

Driving Forces Behind Market Growth

• Automotive Sector Expansion: The automotive industry’s rise is a significant factor boosting the POM market. With urbanization and disposable income on the rise, demand for motor vehicles—including cars, trucks, and motorcycles—is increasing. POM’s use in automotive components like trims, handles, and gears is expanding due to its durability, low friction, and chemical resistance.
• Consumer Goods Manufacturing: POM’s application in consumer goods is growing as manufacturers seek materials that offer strength and durability. Its role in replacing metals and other plastics highlights its versatility in various products.
• Electronics Industry Growth: The electronics sector’s expansion further supports the POM market. The material’s properties make it ideal for components in electronics, contributing to increased market demand.
• Industrial Applications: Diverse industrial applications are driving POM growth, including its use in machinery and industrial equipment due to its mechanical and chemical resilience.

Future Market Trends and Projections

• Emerging Economies: The forecast period will see increased demand from emerging economies, which are expanding their manufacturing and industrial capabilities.
• Innovation in Material Science: Advances in material science are leading to the development of more sophisticated POM products, including those with enhanced properties for specialized applications.
• Sustainability Initiatives: Growing emphasis on sustainability is promoting the development of eco-friendly POM solutions. Innovations like bio-based POM are gaining traction as industries strive to reduce their environmental footprint.
• Electric Vehicles (EVs): The rise of the EV market is contributing to POM growth. POM’s application in EV components aligns with the industry’s need for high-performance, lightweight materials.
• Medical and Healthcare Expansion: The medical sector’s expansion, including the use of POM in medical devices and equipment, is driving market growth.

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Key Trends Shaping the POM Market

• Bio-Based POM: Increased adoption of bio-based POM is a major trend, driven by the demand for sustainable and environmentally friendly materials.
• 3D Printing Applications: The expansion of 3D printing technologies is creating new opportunities for POM applications, allowing for more complex and customized designs.
• Nanotechnology Integration: The incorporation of nanotechnology in POM is enhancing its properties, leading to innovative applications in various fields.
• Customization and Tailored Solutions: The demand for customized POM solutions is growing, as industries seek materials tailored to specific performance requirements.
• Collaboration and Partnerships: Strategic collaborations and partnerships are fostering innovation and expanding market opportunities.

Sustainable Solutions in the POM Market

• Innovative Products: Companies are developing sustainable POM solutions to address environmental concerns. BASF SE’s launch of Ultraform LowPCF and Ultraform BMB exemplifies this trend, with products designed to reduce carbon emissions and incorporate biomass-derived materials.

Recent Industry Developments

• TJP LP’s Acquisition of Delrin USA LLC: In November 2023, TJP LP acquired Delrin USA LLC, strengthening its position in the engineered materials market. This acquisition grants access to Delrin’s advanced technology and established customer base, enhancing TJP LP’s capabilities and market presence.

Market Segmentation

• By Type: Homopolymer, Copolymer
• By Forming Method: Injection Molding, Blow Molding, Extrusion
• By Application: Circuit Boards, Wiring, Fuel Systems, Cooling Systems, Structural Glass, Metered Dose Inhalers, Small Gear Wheels, Ball Bearings, Door Lock Systems, Other Applications
• By End-User Industry: Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery, Other End-User Industries

Regional Insights

• Asia-Pacific Dominance: Asia-Pacific was the largest region in the POM market in 2023, reflecting the region’s strong manufacturing and industrial base.

The polyoxymethylene market is set for continued growth, driven by automotive and industrial demand, sustainability initiatives, and technological advancements.

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The Polyoxymethylene (POM) Global Market Report 2024  provides an overview of the polyoxymethylene (POM) market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The polyoxymethylene (POM) market forecast analyzes polyoxymethylene (POM) market size, polyoxymethylene (POM) market share, leading competitor and their market positions.

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