Polyoxymethylene Market Exploring Future Growth Potential, New Developments, Company Performance and Forecast 2029

The Polyoxymethylene (POM) market is poised for steady growth, driven by its demand across industries like automotive, electronics, and consumer goods due to its high durability and machinability. As applications expand globally, POM continues to meet the need for strong, versatile materials.
The global polyoxymethylene market is projected to grow from USD 3.5 Billion in 2024 to USD 4.4 Billion by 2029, at a CAGR of 4.5% during the forecast period. The report presents and showcases a dynamic vision of the global scenario in terms of polyoxymethylene market size [https://www.marketsandmarkets.com/Market-Reports/polyoxymethylene-market-126414942.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=polyoxymethylene], market statistics, and competitive situation. The growing demand from the APAC region's transportation sector drives the polyoxymethylene market during the forecast period.

Polyoxymethylene (POM), also known as acetal, or, polyoxymethylene, or, polyacetal, is a high-performance engineering thermoplastic renowned for its exceptional mechanical properties and versatility. Structurally, POM is a polymer composed of repeating oxymethylene (-CH2O-) units, which confer high crystallinity and a dense, stable molecular structure. This results in POM's outstanding characteristics, including high tensile strength, rigidity, low coefficient of friction, excellent dimensional stability, and resistance to wear and abrasion.

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In the past couple of years, major key players have adopted several growth strategies, such as product capacity expansions, acquisitions, and product launches, and focused on expanding the business to drive growth. There are several key players which are present in the market and give tough competition to its competitors. These players are Celanese Corporation (US), Korea Engineering Plastics Co., Ltd. (South Korea), Daicel Corporation (Japan), BASF Group (Germany), Asahi Kasei Corporation (Japan), LG Chem (South Korea), SABIC (Saudi Arabia), Mitsubishi Gas Chemical Company, Inc. (Japan), LyondellBasell Industries Holdings B.V. (US), DuPont de Nemours Inc. (US), China BlueChemical Ltd. (China), KOLON ENP (South Korea), and Henan Energy Group Co., Ltd. (China).

Celanese Corporation (US) produces high-performance engineered polymers used in various applications, including automotive, chemical additives, construction, consumer and industrial adhesives, and medical fields. The company operates through two major business segments: Engineered Materials and Acetyl Chain. Under the Engineered Materials segment, Celanese sells polyoxymethylene under the trademark "Hostaform." With a global network of 58 manufacturing facilities, Celanese has a significant presence in North America, Europe, and Asia.

Daicel Corporation (Japan), specializes in supplying a range of derivatives of acetic acid, including acetic anhydride and ethyl acetate. The company operates across various business segments, including medical/healthcare, smart technology, safety, materials, engineering plastics, and others. Within its engineering plastic business segment, Daicel offers polyoxymethylene (POM), which finds applications in AV equipment, office equipment, household appliances, automotive parts, and household equipment. Operations related to POM products are managed by Polyplastics Co., Ltd., a subsidiary of Daicel Corporation. With production facilities in the Asia-Pacific and Europe regions, Daicel ensures global availability of its products.

Mitsubishi Gas Chemical Company, Inc. (Japan), a Japanese corporation, operates in two primary business segments: green energy & chemical business and specialty chemicals business. The company specializes in manufacturing and distributing basic chemicals, fine chemicals, and functional materials. In fiscal year 2022, Mitsubishi Gas Chemical Company generated sales of SD 5.98 billion and achieved operating profits of USD 375 million. Within the specialty chemicals segment, the company focuses on inorganic chemicals, electronic materials, optic materials, engineering plastics, and oxygen absorbers. Under the engineering plastics division, Mitsubishi produces polyacetal products marketed as "Lupital," managed by Global Polyacetal Co., Ltd.

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By End-use Industry, Transportation accounted for the largest share in 2023.

In the forecast period, the transportation segment within the polyoxymethylene market is anticipated to experience the most substantial compound annual growth rate (CAGR) in terms of value.

POM's outstanding mechanical properties and its suitability for a wide range of automotive applications. POM's high strength, stiffness, and dimensional stability make it an excellent choice for manufacturing precision vehicle components such as gears, bearings, fuel system parts, interior trims, etc. Its low friction coefficient and excellent wear resistance enhance the performance and durability of critical automotive systems. Additionally, POM's ability to withstand a wide range of temperatures and resist chemicals and fuels solidifies its status as a preferred material in the transportation sector. The industry's ongoing efforts to improve fuel efficiency and reduce emissions through lightweight further drive demand for POM, given its lightweight nature and capacity to replace metal components.

By Type, Copolymer holds the largest share in 2023.

The Copolymer segment holds the largest share in the polyoxymethylene market in 2023. Copolymer polyoxymethylene incorporates comonomer units into its molecular structure, resulting in enhanced thermal stability and chemical resistance. This makes copolymer polyoxymethylene more versatile and reliable in demanding environments, such as transportation, electrical & electronics, and consumer, where exposure to heat, chemicals, and moisture is common. Additionally, copolymer polyoxymethylene offers superior resistance to hydrolysis and enhanced dimensional stability over a wider temperature range, making it suitable for high-precision applications such as bearings, gears, etc.

By Processing Technique, Extrusion accounted for the second-largest share in 2023.

The extrusion segment held the second-largest share in the polyoxymethylene market in 2023. The extrusion process, which involves pushing molten polyoxymethylenethrough a die to create continuous shapes such as rods, sheets, pipes, and profiles, is highly efficient and versatile. This method is particularly well-suited for manufacturing components that require consistent cross-sectional dimensions and superior mechanical properties. Furthermore, extruded polyoxymethylene products are used in the production of conveyor belts, cable insulation, and other mechanical components, which are critical in industrial machinery and automation systems. The ability of extrusion to produce large volumes of high-quality, uniform products with precise specifications contributes to its substantial share in the polyoxymethylene market.

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By Grade, Low friction accounted for the second-largest share in 2023.

The low friction grade polyoxymethylene segment held the second-largest share in the polyoxymethylene market in 2023. Low-friction grade polyoxymethylene is engineered to minimize the coefficient of friction, making it ideal for components in dynamic environments where smooth and efficient movement is essential. Industries such as transportation, industrial, consumer, and electrical & electronics heavily rely on low-friction polyoxymethylene grade for parts like gears, bearings, sliding mechanisms, and conveyor belts, where reducing friction enhances performance and extends the lifespan of components. The ability of low-friction polyoxymethylene to operate effectively without lubrication, in many cases, further simplifies maintenance and reduces costs.

Asia Pacific is the fastest-growing market for the Polyoxymethylene market.

The Asia Pacific region is accounted to be the fastest-growing market both in terms of value, from 2024 to 2029. The region's rapid industrialization and urbanization have significantly boosted demand for polyoxymethylene across various end-use industries, including transportation, electrical & electronics, consumer, industrial, and others. Countries such as China, Japan, South Korea, and India are experiencing robust economic growth, leading to increased manufacturing activities and infrastructure development. The burgeoning transportation industry, in particular, drives substantial polyoxymethylene consumption for precision components, given the region's status as a major manufacturing hub. Additionally, the electronics sector's expansion, fueled by the growing demand for consumer electronics and technological advancements, further accelerates polyoxymethylene market growth.

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