Polyoxymethylene Market Size & Share by Type (Copolymer, Homopolymer); Grade (Standard, High-Stiffness Grade, Conductive and Anti-static Grade, Reinforced, Lubricant); Fabrication Method (Injection Modeling, Extrusion); End use (Consumer Goods, Automotive, Electrical and Electronics, Medical Components) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2030

Polyoxymethylene Industry - Regional Synopsis

North America Market

North America POM market is expected to account for a significant revenue share during the forecast period, owing rapidly expanding automotive industry, the presence of well-established infrastructure and manufacturing giants, and a high focus on sustainability.  In addition, the growing consumer electronics consumption supports the market growth in North America.

In the U.S., polyoxymethylene the market is expected to account for a significant revenue share owing to growing demand for lightweight and durable components for electronics and automotive manufacturing, the presence of leading companies, and rising preference for recyclable materials. In addition to this, POM is used in the healthcare and pharmaceutical sectors for medical devices, surgical instruments, and drug delivery systems. This is likely to increase the production of medical-grade polyoxymethylene.

The POM market in Canada is likely to register fast-paced growth during the forecast period due to high reliance on polyoxymethylene in Canada for precision parts such as gears, bearings, and bushing, growing demand for high-performance engineering plastics, including polyoxymethylene across several industries. The local government’s efforts to promote sustainable manufacturing practices is also expected to boost polyoxymethylene market growth in this country going ahead.

Asia Pacific Excluding Japan

Asia Pacific Excluding Japan polyoxymethylene market is predicted to register the fastest revenue growth between 2024 and 2030 owing to robust industrialization in India, China, and South Korea, rapid urbanization, and high usage of POM across diverse industries such as electrical and electronics, consumers, transportation, and electric vehicles. Moreover, supportive policies for industrial growth, foreign investments, and infrastructure development predominantly, in China and India are expected to boost the demand for engineering plastics, including POM.

India is one of the largest automotive markets, focused on using lightweight and durable materials. This is expected to enhance the production of polyoxymethylene. Other factors such as rising demand for consumer goods, expanding industrial manufacturing, and increasing research on exploring the applications of POM in different sectors are expected to drive market growth.

The polyoxymethylene market in China is expected to expand rapidly during the forecast period owing to presence of a robust automotive market, rapid expansion of the electronics industry, and rising demand for polyoxymethylene across several sectors including medical, electronics, and consumer goods. Moreover, stringent environmental regulations and emphasis on sustainable materials in China have encouraged manufacturers to use recyclable and eco-friendly materials like POM.