What is Global POM Resins Market?
The Global POM Resins Market is a vast and dynamic sector that deals with the production, distribution, and consumption of POM resins. POM, or Polyoxymethylene, is a type of thermoplastic material that is widely used in various industries due to its high strength, low friction, and excellent wear resistance. These resins are typically used in the production of mechanical parts, electronic components, automotive parts, and consumer goods. The global market for POM resins is a complex network of manufacturers, distributors, and consumers spread across different regions and countries. The market dynamics are influenced by various factors such as technological advancements, changing consumer preferences, regulatory policies, and economic conditions. The market is also characterized by intense competition among the key players who constantly strive to innovate and offer better products to gain a competitive edge. Despite the challenges, the global POM resins market has shown steady growth over the years and is expected to continue its upward trajectory in the future.
Homopolymer Type, Copolymer Type in the Global POM Resins Market:
The Global POM Resins Market is segmented into two main types: Homopolymer Type and Copolymer Type. Homopolymer Type POM resins are made from a single type of monomer, while Copolymer Type POM resins are made from two or more different types of monomers. Each type has its own unique properties and applications. Homopolymer Type POM resins are known for their high strength, rigidity, and resistance to wear and heat. They are commonly used in the production of mechanical parts and components that require high precision and durability. On the other hand, Copolymer Type POM resins are known for their excellent dimensional stability, low friction, and good electrical properties. They are widely used in the electronics industry for the production of connectors, switches, and other electronic components. Despite the differences, both types of POM resins play a crucial role in the global market and contribute significantly to its growth.
Automotive, Mechanic Equipment, Electronics, Consumer Goods, Others in the Global POM Resins Market:
The Global POM Resins Market finds its applications in various sectors such as Automotive, Mechanic Equipment, Electronics, Consumer Goods, and Others. In the Automotive sector, POM resins are used in the production of various parts and components such as fuel systems, powertrains, and chassis systems. They are preferred for their high strength, durability, and resistance to wear and heat. In the Mechanic Equipment sector, POM resins are used in the production of gears, bearings, and other mechanical parts. They are valued for their excellent dimensional stability and low friction. In the Electronics sector, POM resins are used in the production of connectors, switches, and other electronic components. They are chosen for their good electrical properties and resistance to moisture. In the Consumer Goods sector, POM resins are used in the production of various products such as toys, kitchen appliances, and sports equipment. They are favored for their versatility, durability, and aesthetic appeal. In the Others sector, POM resins find their applications in various other industries such as construction, medical, and packaging.
Global POM Resins Market Outlook:
The outlook for the Global POM Resins Market is positive and promising. As of 2022, the market was valued at US$ 4785.7 million and is expected to reach US$ 6879.5 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period from 2023 to 2029. The largest segment of the market in terms of product is the Copolymer Type, which accounts for about 83% of the total market share. This is due to its excellent dimensional stability, low friction, and good electrical properties, making it highly suitable for use in the electronics industry. Speaking of which, the Electronics sector is the largest application segment of the market, accounting for about 41% of the total market share. This is due to the increasing demand for electronic components such as connectors and switches, which are made from POM resins. Despite the challenges and uncertainties, the Global POM Resins Market is poised for steady growth in the coming years.
| Report Metric | Details |
| Report Name | POM Resins Market |
| Accounted market size in 2022 | US$ 3857.2 in million |
| Forecasted market size in 2029 | US$ 6022.3 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | DuPont, MEP, Polyplastics, Celanese, BASF, Asahi Kasei, LyondellBasell, Kolon Plastics, Yunnan Yuntianhua, ZHCC, Yankuang Energy Group Company Limited, Kaifeng Longyu Chemical Co., Ltd |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
