Polyoxymethylene (POM) Market Size

The Polyoxymethylene (POM) market is projected to experience significant growth over the forecast period, driven by its extensive use in various applications such as automotive, electrical and electronics, industrial machinery, and aerospace industries. The automotive sector stands out as the largest consumer, with increasing production and demand for private mobility, particularly in the Asia-Pacific region. The electrical and electronics industry follows closely, spurred by the rising demand for consumer electronics. Additionally, the aerospace industry is emerging as a fast-growing segment. The Asia-Pacific region leads in market share, with Europe and the Middle East also showing substantial demand, particularly due to automotive and electronic production activities.

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Market Size of polyoxymethylene (pom) Industry

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Polyoxymethylene (POM) Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 4.35 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 5.87 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Automotive
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 6.17 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Asia-Pacific

Major Players

Polyoxymethylene (POM) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Polyoxymethylene (POM) Market Analysis

The Polyoxymethylene (POM) Market size is estimated at 4.35 billion USD in 2024, and is expected to reach 5.87 billion USD by 2029, growing at a CAGR of 6.17% during the forecast period (2024-2029).

4.35 Billion

Market Size in 2024 (USD)

5.87 Billion

Market Size in 2029 (USD)

4.16 %

CAGR (2017-2023)

6.17 %

CAGR (2024-2029)

Largest Market by End-user Industry

31.69 %

value share, Automotive, 2023

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The automotive segment held the largest market share due to its wide-ranging applications of POM, including valves, fuel pumps, flanges, etc.

Fastest Growing Market by End-user Industry

7.14 %

Projected CAGR, Automotive, 2024-2029

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Automotive industry is expected to be the fastest-growing end-user industry for POM resin owing to its properties such as dimensional stability, fatigue strength, and slide friction among others.

Largest Market by Region

66.25 %

value share, Asia-Pacific, 2023

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Asia-Pacific holds the largest market share owing to its 74.06% share in global electronics production by value, led by countries such as China, India, Japan, and South Korea.

Fastest Growing Market by Region

8.26 %

Projected CAGR, Africa, 2024-2029

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Africa is forecast to be the fastest-growing regional segment over the forecast period, in line with its growing demand for electronics production.

Leading Market Player

15.41 %

market share, Daicel Corporation, 2022

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In 2022, the company held the largest market share globally and accounted for the highest production capacity of POM resin, amounting to around 268 kilotons per year.

Increasing demand for consumer electronics to aid market growth for POM

  • POM resins are used in modern fuel systems, interior appearance, pumping, conveying, and other applications. Polyacetal resins had a revenue share of 3.56% of the global engineering plastics market in 2022.
  • Automotive is the largest consumer of POM resins. Automotive production increased by over 5% from 2021 to 2022 by volume. With the increasing demand for private mobility, automotive manufacturing, especially the production of two-wheelers and cars, is on the rise. This trend has increased in almost all global regions, particularly in Asia-Pacific. For instance, vehicle production in Asia-Pacific held a volume share of 72.44% in 2022.
  • The electrical and electronics industry is the second-largest consumer of POM resins. The industry had a production revenue of USD 5807 billion in 2022, increasing by 1.16% from 2021. Global consumer electronics revenue is projected to grow to USD 1103 billion in 2023, which may drive the demand for polyacetal resin.
  • Industrial machinery is the third-largest consumer of POM resin, accounting for a revenue share of 16.93% in 2022 due to an increase in industrial machinery manufacturing at a global scale. For instance, in 2021, the global production value of machine tools was USD 83.9 billion, a 24% increase over the previous year.
  • The aerospace industry is the fastest-growing consumer of POM resins. It is expected to record a CAGR of 6.81% by revenue between 2023 and 2029.
Global Polyoxymethylene (POM) Market

Growing electronics industry in Asia-Pacific to aid market growth

  • Polyoxymethylene is widely used in the production of precision parts for applications requiring good dimensional stability and sliding properties. The global POM market held a revenue share of 3.55% of the overall engineering plastics market in 2022.
  • In 2022, Asia-Pacific was the largest region, with a 66.06% value share. It witnessed a growth of 10.83% by value in the same year compared to 2021, attributed to the electrical and electronics and automotive industries, which held 39.15% and 28.83% of the market share, respectively, by value in 2022. With an increase in the demand for gaming consoles and electronic devices, the demand for POM is likely to increase in the region.
  • Europe was the second-largest consumer of POM resins globally in 2022. The region held a revenue share of 17.4% of the POM market in the same year due to the increasing production of vehicles and electronics in the region. For example, the region's vehicle production held a share of 12.28% of global production in 2022. With the growing demand for vehicles, production is likely to increase, thus increasing the demand for POM resins.
  • The Middle East is also one of the growing consumers led by the automotive industry. The rapid growth in the region can be accounted for by the attempts of major countries, like Saudi Arabia, at economic diversification. Saudi Arabia is currently aiming to reduce its import dependence and develop the domestic automotive industry by 2030. As a result, the demand for POM resins from the automotive industry is expected to grow significantly during the forecast period.

Polyoxymethylene (POM) Industry Segmentation

Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • POM resins are used in modern fuel systems, interior appearance, pumping, conveying, and other applications. Polyacetal resins had a revenue share of 3.56% of the global engineering plastics market in 2022.
  • Automotive is the largest consumer of POM resins. Automotive production increased by over 5% from 2021 to 2022 by volume. With the increasing demand for private mobility, automotive manufacturing, especially the production of two-wheelers and cars, is on the rise. This trend has increased in almost all global regions, particularly in Asia-Pacific. For instance, vehicle production in Asia-Pacific held a volume share of 72.44% in 2022.
  • The electrical and electronics industry is the second-largest consumer of POM resins. The industry had a production revenue of USD 5807 billion in 2022, increasing by 1.16% from 2021. Global consumer electronics revenue is projected to grow to USD 1103 billion in 2023, which may drive the demand for polyacetal resin.
  • Industrial machinery is the third-largest consumer of POM resin, accounting for a revenue share of 16.93% in 2022 due to an increase in industrial machinery manufacturing at a global scale. For instance, in 2021, the global production value of machine tools was USD 83.9 billion, a 24% increase over the previous year.
  • The aerospace industry is the fastest-growing consumer of POM resins. It is expected to record a CAGR of 6.81% by revenue between 2023 and 2029.
End User Industry
Aerospace
Automotive
Electrical and Electronics
Industrial and Machinery
Other End-user Industries
Region
Africa
By Country
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Country
Australia
China
India
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
United Kingdom
Rest of Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
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Polyoxymethylene (POM) Market Size Summary

The Polyoxymethylene (POM) market is poised for significant growth, driven by its extensive application across various industries. POM resins are integral to modern fuel systems, interior components, and other critical applications, with the automotive sector being the largest consumer. The rising demand for private mobility and increased automotive production, particularly in the Asia-Pacific region, are key factors propelling market expansion. The electrical and electronics industry follows closely as a major consumer, with the demand for POM resins expected to rise due to the growing production of consumer electronics. Additionally, the industrial machinery sector contributes to the market's growth, supported by a global increase in machinery manufacturing. The aerospace industry is emerging as the fastest-growing consumer of POM resins, highlighting the material's versatility and importance in precision parts production.

Regionally, Asia-Pacific dominates the POM market, driven by robust growth in the automotive and electronics sectors. Europe stands as the second-largest consumer, with increasing vehicle and electronics production fueling demand. The Middle East is also witnessing growth, particularly in the automotive industry, as countries like Saudi Arabia focus on economic diversification and domestic industry development. The market is moderately consolidated, with major players like Celanese Corporation, Daicel Corporation, DuPont, Korea Engineering Plastics Co., Ltd., and Mitsubishi Chemical Corporation holding significant shares. Recent strategic moves, such as facility expansions and joint venture restructurings, underscore the competitive landscape and ongoing efforts to enhance production capabilities and market reach.

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Polyoxymethylene (POM) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Electrical and Electronics

      4. 1.1.4 Industrial and Machinery

      5. 1.1.5 Other End-user Industries

    2. 1.2 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Country

          1. 1.2.1.1.1 Nigeria

          2. 1.2.1.1.2 South Africa

          3. 1.2.1.1.3 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Country

          1. 1.2.2.1.1 Australia

          2. 1.2.2.1.2 China

          3. 1.2.2.1.3 India

          4. 1.2.2.1.4 Japan

          5. 1.2.2.1.5 Malaysia

          6. 1.2.2.1.6 South Korea

          7. 1.2.2.1.7 Rest of Asia-Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Country

          1. 1.2.3.1.1 France

          2. 1.2.3.1.2 Germany

          3. 1.2.3.1.3 Italy

          4. 1.2.3.1.4 Russia

          5. 1.2.3.1.5 United Kingdom

          6. 1.2.3.1.6 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Country

          1. 1.2.4.1.1 Saudi Arabia

          2. 1.2.4.1.2 United Arab Emirates

          3. 1.2.4.1.3 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Country

          1. 1.2.5.1.1 Canada

          2. 1.2.5.1.2 Mexico

          3. 1.2.5.1.3 United States

      6. 1.2.6 South America

        1. 1.2.6.1 By Country

          1. 1.2.6.1.1 Argentina

          2. 1.2.6.1.2 Brazil

          3. 1.2.6.1.3 Rest of South America

Polyoxymethylene (POM) Market Size FAQs

The Global Polyoxymethylene (POM) Market size is expected to reach USD 4.35 billion in 2024 and grow at a CAGR of 6.17% to reach USD 5.87 billion by 2029.

In 2024, the Global Polyoxymethylene (POM) Market size is expected to reach USD 4.35 billion.

Polyoxymethylene Market Report Snapshots

Polyoxymethylene (POM) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029