Polyoxymethylene, POM, or Acetal are a class of engineering thermoplastics known for their strength, hardness, rigidity, and low friction. According to BlueQuark Research & Consulting, the global Polyoxymethylene market is expected to witness a significant growth rate during the forecasted period. Factors like the growing demand for lightweight and durable metal alternatives in the automobile industry influences the growth of the global POM market in the forecasted period. Further, the increased usage of Polyoxymethylene in manufacturing electrical components like capacitors and insulators in the electrical industry is expected to drive the Polyoxymethylene pom market in the predicted periods. Furthermore, the POM copolymers used in the medical industry to manufacture insulin pens are also likely to influence the market. They also have a place in the irrigation and plumbing industry, where their use in taps, valves, and plumbing is expected to drive the Polyoxymethylene demand in the forecasted periods. However, the release of formaldehyde, a toxin, from the polymer on contact with high temperatures and strict regulatory policies regarding plastics is expected to hinder the market's growth.

Polyoxymethylene is used to manufacture automotive components like fuel caps, fuel sender units, fuel rails, and others like insulin pens, capacitors, etc., and are also used in end-use industries like automobile, electronics, healthcare, and construction.

The Automotive Sector is the prime consumer of Polyoxymethylene and is projected to drive the global POM market. Increasing population rapid urbanization are some of the facts behind the increased sales of automobiles, especially in countries like India and China. POM is broadly used as engineering thermoplastic in commercial and industrial precision parts due to its properties such as low friction, high heat resistance, good electrical properties, high abrasion resistance, and low water absorption. Due to its reduced weight and high strength, it is used in heavy metal parts such as small gears, ball bearings, fasteners, ski bindings, and lock systems. According to Toyota, a leading automobile manufacturer, its total global sales for May 2021 were 904,670 units, with a 48.4% year-on-year increase. The automotive industry is also experiencing a boom in the electric vehicle market due to the environmental awareness among citizens, and the government providing subsidies on its purchase further propels the automotive industry. Since POM is an engineering material used in parts that require precision both externally and internally in an automobile, its applications are not limited and are almost identical in electric and conventional cars. POM is a preferred material in high-performance engineering plastics due to its various desirable properties such as excellent dimensional stability, impact resistance, fatigue resistance, and high strength. Therefore the use of Polyoxymethylene in the automobile industry is expected to grow and drive the overall market.

The Asia Pacific region is expected to be the leader in Polyoxymethylene production, with most of the consumption in China and India. China is the most extensive base for automobile production globally. According to the China Association of Automobile Manufacturers, vehicle sales in China are expected to hit 27 million in 2021, up 6.7 percent year-on-year. Thus, with thousands of automobiles manufactured daily, China satisfies its domestic need and caters to the international demand for vehicles. The automobile production in India increased at 2.36% CAGR between FY16-20, with 26.36 million vehicles being manufactured in the country in FY20 with nearly 21.55 million vehicles being sold. Apart from the automobile industry, China, Japan, and South Korea are some of the largest electronics manufacturers, which have POM as one of the components, thus surging the demand for POM in the region. POM, due to its various constructive properties, like electrical and thermal insulation, lightweight and shatter-resistance, easy-to-modify nature, are being increasingly used in the electrical and electronics market segment. The POM market is also experiencing surged demand from the medical industry. The application fields are various and range from components such as joint reconstruction, spine, traumatology, and various others. The product is also being used in manufacturing pacemakers, artificial heart valves, etc. Some of the critical applications of POM are electric housing, circuit boards, switches and wiring components, enclosures, sockets and connectors, cooling systems, etc. Asia-Pacific is expected to witness significant growth in the electronics industry, as China is one of the largest electronics manufacturers worldwide, followed by South Korea and Japan. The surging demand for medical-grade POM for healthcare devices is one of the key factors driving the market's growth. POM is also widely used to produce outer needle caps, inner needle caps, pen caps, and dosage knobs of the insulin pens owing to low moisture absorption, high sterility, and impact-resistant properties. It is also utilized for manufacturing artificial valves, pacemakers, and joint reconstruction devices. As more than 60% of the world's population resides in the Asia-Pacific region, there is an increasing need for healthcare, like insulin pens making the sector an important market for the Polyoxymethylene industry. Further, the use of POM in plumbing, irrigation, and pipe coupling makes plastic important for the construction industry, which is booming in the region. Factors like these have made the Asia Pacific region an essential scope for the global POM market.

The global market's key players are DuPont de Nemours, Celanese Corporation, Korea Engineering Plastics, Ensinger Plastics, and Mitsubishi Chemical.

In December 2020, Mitsubishi Gas Chemical Company and Celanese Corporation signed an MOU to restructure Korea Engineering Plastics Co.

In February 2020, Ascend Performance Materials announced the purchase of Poliblend and Esseti Plast GD from D'Ottavio Group, which included their Polyoxymethylene plant.

In May 2019, Japanese manufacturer, Polyplastics developed a new Polyoxymethylene grade, getting a combination of high strength and sliding properties.

Global Polyoxymethylene Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Polyoxymethylene market by segmenting based on the formation process (Injection Molding, Extrusion Molding, Others), Type (Homopolymer, Copolymer), End-User Industry (Electronics, Automobile, Healthcare, Construction, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.