Market Overview

The market for polyoxymethylene (POM) is expected to register a CAGR of around 3% during the forecast period. Major factors driving the market studied are the intensive use in the electrical and electronics industry and rising demand from the transportation sector. However, the growing usage of bio-based materials as an alternative to polyoxymethylene is expected to hinder the growth of the market studied.

  • The transportation industry dominated the market, and is expected to grow during the forecast period, owing to the increasing automotive sales across the world, especially in the Asia-Pacific region.
  • Increasing new applications in the food packaging industry is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, with the largest consumption in China.



Key Market Trends

Intensive Use in the Electrical and Electronics Industry

  • POM, owing to its various constructive properties, such as electrical and thermal insulation, easy-to-modify nature, lightweight, and shatter-resistance, are being increasingly used in the electrical and electronics segment.
  • Some of the important applications of POM are electric housing, circuit boards, switches and wiring components, enclosures, sockets and connector, cooling systems, etc.
  • Asia-Pacific is expected to witness a major growth in the electronics industry, as China is one of the largest electronics manufacturers globally, followed by South Korea and Japan.
  • In Europe, Germany is the largest producer of electronics, and the market is projected to expand during the forecast period, due to the rising demand for more innovative and technologically-advanced products in the industry. Thus, increasing the consumption of polyoxymethylene (POM) in the electronics market.
  • Other trends, such as digitalization of the automotive industry, among others, have increased the consumption of POM in automotive electronics applications.



Asia-Pacific Region to Dominate the Market

Asia-Pacific dominated the POM market, accounting for a major share of the market. The region was found to be the largest market for POM consumption, due to several developing economies in the region. The product consumption is very high in China, due to POM’s application in various electrical and electronic, and automobile industries. Use of POM as a replacement for metal, due to its lightweight and high strength in various sectors, has increased its consumption in major end-user industries. With rising demand from the developing economies in the region, Asia-Pacific is also projected to register the highest CAGR during the forecast period. The aforementioned factors are expected to contribute to the increasing demand for polyoxymethylene consumption in the region, during the forecast period.

Competitive Landscape

The polyoxymethylene market is partially consolidated, with the top five players accounting for more than 50% of the market. The major companies include Polyplastics Co. Ltd, Celanese Corporation, DowDuPont, Korea Engineering Plastics Co. Ltd, and China National Bluestar (Group) Co. Ltd.

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