H1 2023: In the Asia-Pacific (APAC) region, Polyoxymethylene (POM) prices faced mixed sentiments in H1 2023. Polyoxymethylene (POM) prices experienced fluctuations in the Chinese and Korean markets during the first quarter of 2023. In February, there was a slight improvement in POM prices attributed to increased demand and restocking by traders. The positive trend continued into March, with prices rising further due to strong demand from importing countries and elevated production costs in the domestic market. However, towards the end of March, POM prices consistently declined over three weeks due to an abundance of the product in the country and slow offtakes from both domestic and overseas downstream buyers. April onwards, the Asia-Pacific (APAC) market experienced a phase of price stability in Polyoxymethylene (POM). The subdued demand in the downstream automotive segment in the region raised concerns among market participants. China's economic conditions contributed to dampened enthusiasm in the market, primarily influenced by sluggish consumer sentiment. Additionally, slow offshore trading activities exerted further downward pressure on POM prices. The price plateau during the May was influenced by volatility in overseas demand and limited inventories added to the stability in prices.
The global Polyoxymethylene (POM) market stood at approximately 1400 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.4% during the forecast period until 2032.
Polyoxymethylene (POM), commonly known as acetal, stands as a versatile engineering thermoplastic with widespread applications across industries. The automotive sector utilizes POM for crafting gears, door handles, fuel system components, and seatbelt parts, benefitting from its low coefficient of friction and wear resistance. In the consumer goods arena, POM finds a place in everyday items like zippers and knife handles, where its durability, chemical resistance, and machinability is advantageous. In the sector of precision engineering, POM shines in the manufacturing of gears, bearings, fasteners, and various mechanical components, owing to its impressive strength, stiffness, and dimensional stability. The electronics industry benefits from POM's electrical insulating properties, employing it in the production of connectors, switches, and small gears. POM's biocompatibility and resistance to sterilization make it suitable for certain medical applications, contributing to the manufacturing of components for medical devices. Approved for use in the food industry due to its neutral impact on taste and odour, POM is employed in food processing equipment, conveyor belts, and packaging machinery components. Its application extends to the aerospace industry for crafting components in aircraft interiors. In sports, POM's strength and durability are harnessed in the manufacturing of various gear mechanisms. Additionally, its utility in water treatment applications, especially in valves requiring chemical resistance and dimensional stability, further underscores the versatility and importance of POM across diverse industrial sectors. On the basis of type, PM market is segmented into: Homopolymer and Copolymer.
The expanding automotive industry, propelled by heightened vehicle production and a surge in demand for lightweight, durable components, is a primary catalyst for the escalating demand for polyoxymethylene (POM). The outstanding mechanical properties of POM, coupled with its resilience to chemicals and wear, position it as an optimal choice for various automotive applications, thereby propelling market expansion. Concurrently, the expanding electronics sector, with an increasing emphasis on dependable electrical components, further stimulates the demand for POM. The electrical insulation attributes, resistance to creep, and dimensional stability inherent in POM make it highly suitable for the manufacturing of connectors, switches, and other electronic components. This dual impact of automotive and electronics industry growth synergistically contributes to the upward trajectory of the POM market, emphasizing its pivotal role in meeting the evolving demands of these dynamic sectors. As industries continue to prioritize efficiency, durability, and performance, POM stands as a key material facilitating advancements in both automotive and electronics applications, fostering sustained market development. The global Polyoxymethylene (POM) market is anticipated to reach nearly 2150 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Polyoxymethylene (POM). The Asia-Pacific region, encompassing manufacturing powerhouses such as China, Japan, and South Korea, is poised to emerge as the foremost consumer of Polyoxymethylene (POM). This dominance is underpinned by the region's status as a global manufacturing hub, marked by extensive industrialization in sectors like automotive, electronics, and consumer goods. According to OICA, China produced roughly 30% of the net automotives in the year 2022. The flourishing automotive industry in Asia, fueled by heightened vehicle production and a demand for lightweight materials, propels substantial POM consumption due to its exceptional mechanical properties. Concurrently, the region's prominent role in the electronics sector, particularly in countries like China and South Korea, drives the demand for POM, given its electrical insulation attributes crucial for components like connectors and switches. Additionally, the burgeoning population and expanding middle class in the Asia-Pacific region propel demand for consumer goods, further augmenting the use of POM in various household items.
Based on the end-user industry, the global Polyoxymethylene (POM) market is divided into Electrical & Electronics, Automotive, Construction, Consumer Goods, and Others. However, Automotive Industry dominates the Polyoxymethylene (POM) market and held approximately 30% of the global Polyoxymethylene (POM) market in 2022.
Major players in the Global Polyoxymethylene (POM) market are BASF SE, Asahi Kasei Corporation, DuPont de Nemours Inc., Daicel Corporation, Kolon Plastic Inc., Saudi Basic Industries Corporation (Saudi Arabian Oil Co.) LG Chem Ltd., LyondellBasell Industries N.V., Celanese Corporation, Mitsubishi Engineering-Plastics Corporation, RTP Company (Miller Waste Mills Inc.), Westlake Plastics Company. And Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polyoxymethylene (POM) which covers production, demand and supply of Polyoxymethylene (POM) market in the globe.
• To analyse and forecast the market size of Polyoxymethylene (POM)
• To classify and forecast Global Polyoxymethylene (POM) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyoxymethylene (POM) market in the globe.
To extract data for Global Polyoxymethylene (POM) market, primary research surveys were conducted with Polyoxymethylene (POM) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyoxymethylene (POM) market over the coming years.
ChemAnalyst calculated Polyoxymethylene (POM) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polyoxymethylene (POM). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyoxymethylene (POM) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyoxymethylene (POM) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyoxymethylene (POM) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyoxymethylene (POM) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1400 thousand tonnes
Market size Volume in 2032
2150 thousand tonnes
Growth Rate
CAGR of 4.4% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Electrical & Electronics, Automotive, Construction, Consumer Goods, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Polyoxymethylene (POM) in terms of volume in 2022?
Ans:
The global market size of Polyoxymethylene (POM) had reached approximately 1400 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polyoxymethylene (POM)?
Ans:
Asia Pacific region is the leading consumer of Polyoxymethylene (POM) globally.
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