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Rising Automotive Sector Drives Polyoxymethylene (POM) Market Expansion: The Driving Engine Behind Polyoxymethylene (POM) Market Evolution in 2025
Polyoxymethylene (POM)
Polyoxymethylene (POM) Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size of polyoxymethylene (POM) has witnessed substantial growth. The market is set to expand from $5.02 billion in 2024 to $5.32 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. Historical growth trends in this market have been driven by factors such as demand from the automotive sector, consumer goods production, the substitution of metals and other plastics, the development of the electronics industry, and a rise in industrial applications.
How Will the Polyoxymethylene (POM) Market Size Evolve and Grow by 2029?
The market for polyoxymethylene (POM) is predicted to experience significant expansion in the coming years, reaching a valuation of $6.63 billion by 2029, with a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in this timeframe is due to increasing demand from emerging markets, advances in material science, sustainable practices, the burgeoning market for electric vehicles (EVs), and the proliferation of the medical and healthcare industries. The upcoming trends for this period include higher usage of bio-based polyoxymethylene, the broadening of 3D printing applications, the incorporation of nanotechnology, the provision of custom-made solutions, and strategic collaborations and partnerships.
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What Drivers Are Propelling the Growth of Polyoxymethylene (POM) Market Forward?
The advancement in the automobile sector is anticipated to drive the expansion of the polyoxymethylene (POM) market. The said sector involves the design, production, promotion, and selling of various vehicles such as cars, trucks, bikes, and buses. Factors contributing to the growth of the automobile sector encompass increased urbanization, higher disposable earnings, technological enhancements, broadening transport infrastructure, rising need for transport solutions and consumer inclination towards comfort and convenience. Polyoxymethylene (POM) finds extensive use in the automobile industry for multiple applications like interior and exterior features, door handles, fuel systems, gears, bearings, among others due to its remarkable mechanical features, low friction rate, and resistance against wear and chemicals. For instance, as per the records of the European Automobile Manufacturers Association, a Belgium-based group, around 85.4 million motor vehicles were manufactured globally in May 2023, marking a 5.7% increase from 2021. Thus, the flourishing automobile sector is fostering the growth of the polyoxymethylene (POM) market.
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Which Emerging Trends Are Transforming the Polyoxymethylene (POM) Market in 2025?
Leading enterprises in the polyoxymethylene (POM) market are pioneering innovative solutions, like eco-friendly polyoxymethylene products, to cater to escalating environmental concerns and meet the rising demand for sustainable materials across numerous sectors. These sustainable polyoxymethylene products are critical in lessening environmental damage while ensuring high performance in various engineering uses. For instance, BASF SE, a chemical corporation based in Germany, introduced Ultraform LowPCF (Low Product Carbon Footprint) and Ultraform BMB (Biomass Balance) in October 2022. These POM variants are designed to have a lower environmental burden than standard POM compositions. Ultraform LowPCF aims to decrease the carbon emissions produced during its manufacturing, while Ultraform BMB infuses raw materials derived from biomass into its production process, thereby improving its sustainability aspect.
What Are the Key Segments in the Polyoxymethylene (POM) Market?
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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Who Are the Key Players Shaping the Polyoxymethylene (POM) Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Polyoxymethylene (POM) Market?
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.
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