The global polyoxymethylene market revenue was around US$ 5.1 billion in 2022 and is estimated to reach US$ 8.25 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2023 to 2031.
Polyoxymethylene (POM) is a thermoplastic polymer that has a wide range of uses. It is a white, semi-crystalline thermoplastic with low friction, high stiffness, and strong dimensional stability that is sometimes referred to by the brand name Delrin. POM manufactures precise gears, bushings, bearings, electrical connectors, and other parts that are widely used in the automotive, electrical, and consumer goods industries. Additionally, it is used to make syringes and catheters, among other pieces of medical equipment.
Market Driving Factors
The rising demand for medical supplies and equipment is driving the global market growth. Polyoxymethylene is extensively used in the manufacture of medical devices such as implants, catheters, surgical tools, and drug delivery systems. The rise in chronic diseases and the aging population, which have increased demand for medical technology, are further factors boosting the market's CAGR. Furthermore, the market is expanding due to the technology advances and the public becomes more aware of the advantages of using POM in medicinal applications.
The expansion of the automotive industry is being fueled by increased vehicle production and rising demand for strong, lightweight components. POM's superior mechanical qualities, chemical and wear resistance, and suitability for automotive applications stimulate market expansion. The demand for POM is driven by the expanding electronics sector and the rising demand for durable electrical components.in addition, it is suitable for switches, connections, and other electronic components due to its electrical insulating qualities, creep resistance, and dimensional stability, which boosts the market expansion.
The establishment of new affiliates and subsidiaries is receiving significant investment from polyoxymethylene producers to expand into new markets and increase the geographic reach of their products. Additionally, they made investments in expanding plant capacity to meet the escalating demand. Thus, it is anticipated to fuel the market growth.
POM is used to replace metals in a variety of applications where exceptional strength or impact resistance are not required and the use of POM is appropriate. R&D activities by the prominent players in the market could enhance growth by creating innovative applications and new products to meet demand from various end-use markets. Long-term growth of polyoxymethylene is predicted by rising demand in various developing regions.
Raw ingredients like formaldehyde, which fluctuates in price, are used in the creation of POM. The overall production costs and manufacturers' profitability may be impacted by these pricing changes. Additionally, the growing environmental laws and issues surrounding the usage and disposal of plastics present difficulties for the polyoxymethylene industry and force producers to look into more environmentally friendly options restraining the market growth.
Regional Analysis
The Asia Pacific is estimated to dominate the market in terms of the largest revenue. In addition, this region serves as a polyoxymethylene manufacturing hub. Rapidly expanding regional economies and promising end-user industries drive the market. The end-user industries are being pushed by increased per capita income, economic expansion, an expanding consumer base, and a rapidly expanding GDP. Thus, such factors boost the market growth in this region.
Europe and North America account for a substantial market share. These regions are important for POM consumers. The rising demand for high-performance materials in the industrial sector, as well as the growing demand for lightweight materials in the automobile industry, will fuel the market expansion in these regions.
Segmentation Insights
Grade Insights
The standard grade segment is estimated to dominate the market. It is mostly employed in the production of surgical tool handles, medical devices, automobiles, and different components. A bright prognosis for plastics in the medical sector will aid the market expansion in the future.
Application Insights
The consumer goods segment is estimated to dominate the market. In this segment, the product is used in the production of springs, gears, hand tools, and toys. Furthermore, growing consumer demand and rising per capita income in Asian nations will support industry expansion. Additionally, the polyoxymethylene market is becoming more and more integrated into consumer goods.
Prominent Companies
Segmentation Outline
The global polyoxymethylene market segmentation focuses on Type, Grade, Application, and Region.
By Type
By Grade
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL POLYOXYMETHYLENE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: POLYOXYMETHYLENE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL POLYOXYMETHYLENE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL POLYOXYMETHYLENE MARKET, BY TYPE
5.1 OVERVIEW
5.2 COPOLYMER
5.3 HOMOPOLYMER
6 GLOBAL POLYOXYMETHYLENE MARKET, BY GRADE
6.1 OVERVIEW
6.2 STANDARD
6.3 REINFORCED
6.4 IMPACT MODIFIED
6.5 RECYCLED
6.6 UV STABILIZED
6.7 SPECIAL GRADE
7 GLOBAL POLYOXYMETHYLENE MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 AUTOMOTIVE
7.3 CONSUMER GOODS
7.4 INDUSTRIAL
7.5 ELECTRICAL & ELECTRONICS
7.6 OTHER
8 GLOBAL POLYOXYMETHYLENE MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL POLYOXYMETHYLENE MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 BASF
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 ASAHI KASEI
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 KOLON PLASTICS
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 CELANESE
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 DUPONT
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 MITSUBISHI GAS CHEMICAL/MITSUBISHI ENGINEERING PLASTICS
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 POLYPLASTICS
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 ASAHI KASEI CHEMICALS
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 KOREA ENGINEERING PLASTICS
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 THAI POLYACETAL
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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