Press release
Rising Automotive Sector Drives Polyoxymethylene (POM) Market Expansion: A Key Driver Powering Polyoxymethylene (POM) Market Growth In 2025
Polyoxymethylene (POM) Market
What Is the Current Polyoxymethylene (POM) Market Size and Its Estimated Growth Rate?
The polyoxymethylene (POM) market, with a value of $5.02 billion in 2024, is projected to increase to $5.32 billion in 2025, growing at a CAGR of 5.9%. The market's expansion is supported by demand from the automotive industry, consumer goods manufacturing, the replacement of metal and other plastics, the growth of the electronics industry, and increasing industrial applications.
The polyoxymethylene (POM) market is forecast to experience strong growth, reaching $6.63 billion by 2029 at a CAGR of 5.7%. This growth is attributed to increasing demand from emerging economies, material science innovation, sustainability initiatives, the growth of the electric vehicle (EV) market, and expansion in the medical and healthcare sectors. Key trends include bio-based POM adoption, 3D printing applications, nanotechnology integration, and tailored solutions through collaboration.
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How Are Emerging Segments Shaping the Polyoxymethylene (POM) Market Landscape?
The polyoxymethylene (POM) market covered in this report is segmented -
1) By Type: Homopolymer, Copolymer
2) By Forming Method: Injection Molding, Blow Molding, Extrusion
3) By Application: Circuit Boards, Wiring, Fuel Systems, Cooling Systems, Structural Glass, Metered Dose Inhalers, Small Gear Wheels, Ball Bearings, Door Lock Systems, Other Applications
4) By End User Industry: Aerospace, Automotive, Electrical And Electronics, Industrial And Machinery, Other End-User Industries
Subsegments:
1) By Homopolymer: High-Performance Homopolymer POM, Standard Homopolymer POM
2) By Copolymer: Polymer Grade Copolymer POM, High-Performance Copolymer POM
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Which Growth Factors Are Influencing Polyoxymethylene (POM) Market Expansion?
The growth of the automotive industry is expected to boost the polyoxymethylene (POM) market. The automotive industry is expanding due to factors such as urbanization, rising disposable incomes, and growing demand for mobility solutions. POM is widely used in automotive components like interior trims, gears, bearings, and fuel systems due to its excellent mechanical properties and resistance to wear and chemicals. According to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced globally in 2023, marking a 5.7% increase from 2021. This growth in the automotive industry is expected to drive the demand for POM.
Who Are the Dominant Players Across Different Polyoxymethylene (POM) Market Segments?
Major companies operating in the polyoxymethylene (POM) market are BASF SE, LG Chem Ltd., China National Chemical Corporation, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation, Sumitomo Chemical Company, Asahi Kasei Corporation, Solvay S.A., DuPont De Nemours Inc., Arkema S.A., Yuntianhua Group Co. Ltd., Celanese Corporation, Kolon Plastics Inc., Daicel Corporation, Avient Corporation, China BlueChemical Ltd., Ensinger GmbH, Reinforced ThermoPlastics Company, Westlake Plastics Company, Korea Engineering Plastics Co. Ltd., Polyplastics Co. Ltd., Ticona Polymers Inc.
What Are the Major Trends Shaping the Polyoxymethylene (POM) Market?
Companies in the polyoxymethylene (POM) market are developing innovative, eco-friendly products to address rising environmental concerns and meet the growing demand for sustainable materials across various industries. Sustainable polyoxymethylene products play a crucial role in minimizing environmental impact while maintaining excellent performance in engineering applications. In October 2022, BASF SE, a Germany-based chemicals company, launched Ultraform LowPCF (Low Product Carbon Footprint) and Ultraform BMB (Biomass Balance), two polyoxymethylene variants designed to reduce environmental impact. Ultraform LowPCF focuses on minimizing carbon emissions during production, while Ultraform BMB uses biomass-derived raw materials in its manufacturing, further enhancing sustainability.
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Which Geographic Regions Are Expected to Dominate the Polyoxymethylene (POM) Market in the Coming Years?
Asia-Pacific was the largest region in the polyoxymethylene market in 2024. The regions covered in the polyoxymethylene (POM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Polyoxymethylene (POM) Market?
2. What is the CAGR expected in the Polyoxymethylene (POM) Market?
3. What Are the Key Innovations Transforming the Polyoxymethylene (POM) Industry?
4. Which Region Is Leading the Polyoxymethylene (POM) Market?
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