Polyoxymethylene (POM) also known as polyformaldehyde is a thermoplastic that is used in precision parts requiring high stiffness, low friction, and excellent dimensional stability. It has the chemical formula of (CH2O)n.
Due to its high strength, hardness, and rigidity to cold temperatures, POM is used in a number of industries. POM is used in Electronics & Electricals, Transportation, Medical, Food & Packaging and etc.
The global market for POM is expected to register a CAGR of 2.85% during the period of 2019 – 2024. The major driving factor comes from the transportation industry. Rising the automobile industry, increasing demand from the transport industry, and fuel-efficient and light vehicles are the factors driving the transport segment in the POM market for the forecasted period.
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