Polyoxymethylene (POM) Market Overview
The global polyoxymethylene (POM) market demand is forecasted to grow at a CAGR of 4.1% during 2022-2032.
Engineering plastics, renowned for their exceptional physical and mechanical properties, have progressively solidified their position as substitutes for metals in various high-strength applications. In comparison to standard commodity plastics, engineering plastics reveal significantly superior mechanical characteristics, including heightened heat resistance, improved dimensional stability, enhanced strength, and resistance to a broad range of chemicals. One notable example of an engineering plastic is polyoxymethylene (POM), also known as polyacetal, which carries remarkable fatigue resistance, mechanical strength, resilience, and toughness. As a result, POM has successfully replaced conventional materials like metal and thermoset plastics across several demanding application areas such as automotive, electrical and electronics, consumer products, industrial machinery, medical devices, sporting goods, and more.
Polyoxymethylene (POM) finds extensive utility as a metal substitute, offering a diverse range of applications. This highly crystalline polymer is celebrated for its exceptional stiffness, mechanical strength, abrasion resistance, and resistance to different chemicals and solvents. Additionally, it shows commendable low-temperature impact resistance, superior dimensional stability, favourable frictional properties, and low water absorption. Automotive, electrical & electronics, industrial, food contact, sporting goods, consumer goods, and medical are some of the key application areas of polyacetals.
Polyoxymethylene Demand
Global POM Demand Supply Analysis - 2016-2032 (Kilo Tons)
Polyoxymethylene Market End-use Industry Insights
The POM market has witnessed substantial growth in recent years and is projected to maintain its upward trajectory. The global Polyoxymethylene market demand is forecasted to grow at a CAGR of 4.1% annually during 2022-2032, fuelled by increasing demand from automotive, electrical and electronics, consumer goods, and industrial sectors. Additionally, the expanding manufacturing base in emerging economies contributes to the market s positive outlook. Global Polyacetal production capacity stood at 1,800 kilo tons, with over two-thirds of the capacity located in Asia and Europe. Major new polyacetal production capacities will be on-stream by 2032, with over 80 kilo tons of capacity being added each year till 2032. During this period, most of the capacity additions will be in China.
Global POM Demand, By Application- 2016-2032 (Kilo Tons)
Polyoxymethylene (POM) Companies Capacity
Moreover, the average utilization rates from 2016 to 2021 have been over 74%, which witnessed a decline to 69% in 2020 owing to the global COVID-19 pandemic. However, with recent plant closures and lower capacity utilization rates in China, the global POMmarket was tight, leading to increased prices throughout 2022. For instance, Polyplastics ceased operations at its 60 kilo tons Nantong facility due to environmental concerns in the first quarter of 2021. Asahi Kasei’s 44 kilo tons polyacetal production facility in Mizushima, Japan, was not operational in H2-2021. Zaklady Azotowe Tarnowe shut its 14 kilo tons polyacetal plant in mid-2021 and transferred the technology rights and customers to Celanese Corporation.
Global POM Capacity, By Company (Kilo Tons)
However, as per Prismane Consulting estimates, the addition of new facilities and de-bottlenecks will stabilize the polyacetal supply in the short-term forecast to 2025. Polyplastics plans to bring a 90 kilo tons polyacetal production facility in China by the end of 2024. This capacity will further be expanded as per the market conditions to 150 kilo tons by 2028. Inner Mongolia Jiutai New Material Co., Ltd. and Xinjiang Yunjutian New Materials Co., Ltd. are projected to bring online 60 kilo tons of polyacetal each in 2023. Celanese Corporation also carried out de-bottlenecks at its Hostaform POM facilities between 2020 and 2021. The company produces POM in the U.S., Germany, and has a joint venture facility in South Korea.
Trends Driving the Polyoxymethylene Market:
Lightweighting Initiatives:
Automotive, Electrical & Electronics, and Industrial applications together accounted for over 70% of the global polyacetal demand in 2021. Growth opportunities for POM and other engineering plastics in the automotive industry are primarily linked with the industry’s drive for lower emissions and increased fuel efficiency. Lightweight materials are gaining traction across industries to achieve weight reduction, enhance fuel efficiency, and reduce emissions. Polyacetal s lightweight nature, coupled with its strength and durability, positions it as a preferred material for lightweight components in automotive applications. Interior and exterior components account for around 80% of the global POM demand within the automotive sector.
Drive towards Sustainable Products
Government initiatives and policies are key drivers in pushing companies towards sustainability. Companies are shifting towards materials that have a higher percentage of renewable content and lower carbon dioxide emissions in their end products. The rising focus on sustainability has led to a surge in demand for eco-friendly materials. Polyacetal, with its recyclability and potential for reduced energy consumption during production, aligns with sustainability goals and is gaining prominence in various industries. To cater to the growing demand for sustainable materials, companies are investing in the development of sustainable products. For instance, Celanese has launched sustainable POM under the brand name POM ECO B to support the growing demand for sustainable materials. DuPont has added sustainable Delrin, namely Delrin Renewable Attributed (RA), which is produced from 100% bio-feedstocks from waste according to ISCC Plus mass balance certification. Celanese and Mitsubishi Chemical Advanced Materials (MCAM) are planning to collaborate and develop a mechanical recycling solution for post-industrial and post-consumer sources of POM to meet the growing demand for recycled content from end-use consumers.
The EU s attempts to modify the plastic life cycle while limiting its usage are part of a larger push to transition to a low-carbon economy. The total system is being adopted by the 27 EU member countries, where plastic recycling rates are already three times higher than in the United States. Many cities have committed targets and programs to reach their zero waste goals, and the Circular Economy and "Zero Waste" concepts are huge trends that have swept around the globe.
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