Ultra-High Molecular Weight Polyethylene Market worth $2.2 billion by 2025 | Key Players include Celanese Corporation, Koninklijke DSM N.V., LyondellBasell Industries N.V., Braskem S.A, Asahi Kasei Corporation

According to recent market research "Ultra-High Molecular Weight Polyethylene Market by Form (Sheets, Rods & Tubes, Fibers, Films, Tapes), End-Use Industry (Aerospace, Defense & Shipping, Healthcare & Medical, Mechanical Equipment, Food & Beverages), Region - Global Forecast to 2025", in 2020 is estimated at USD 1.4 billion and is projected to reach USD 2.2 billion by 2025, at a CAGR of 9.4% from 2020 to 2025.

The growth of this market can be attributed to the increasing demand for UHMW PE from the aerospace & defense industry and increased demand for orthopedic implants. In addition Increasing R&D and mass production of ballistic fibers and compliance with various legal and administrative bodies is expected to create opprtuities in the market which is expected to drive the market during the forecast period. Furthermore, outbreak of COVID-19 pandemic is anticipated to hamper the consumption of UHMW PE which affects the market growth.

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By form, the sheets segment is estimated to account for a major share of the UHMW PE market in 2019. This large share is mainly attributed to the extensive use of sheets in the aerospace, defense, & shipping industries for the manufacture of aircraft interiors & mechanical equipment industries for the manufacture of conveyer belts. Rods & tubes are the second most used form of UHMW PE used majorly in the mechanical equipment industry.

Based on end-use industry, the healthcare & medical segment is expected to grow at the highest CAGR in 2019. In the healthcare & medical industry, there is a high demand for UHMW PE for the manufacture of orthopedic implants and parts for medical devices due to properties such as high strength to weight ratio, self-lubrication, and impact resistance. The growing demand for orthopedic implants from developed countries is expected to fuel the growth of the UHMW PE market globally.

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Ultra-High Molecular Weight Polyethylene (UHMW PE) is a simple linear background polyethylene possessing unique properties. Due to its ultra-high molecular density, it provides high abrasion resistance and impact strength in comparison to other engineering polymers. Apart from this, the material can also be optimized for more application specific requirements such as noise resistance, low coefficient of friction, excellent chemical resistance, self-lubrication, bio-compatibility, wear resistance, and electric insulation resistance.

Major companies such as Celanese Corporation (US), Koninklijke DSM N.V. (Netherlands), LyondellBasell Industries N.V. (Netherlands), Braskem S.A (Brazil), Asahi Kasei Corporation, (Japan) Du Pont De Nemours Inc. (US), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Mitsui Chemicals, Inc. (Japan), Honeywell International, Inc. (US), and Teijin Limited (Japan) and others are key players in the UHMW PE market. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, joint veture, and new product developments, which have helped them expand their businesses in untapped and potential markets.

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Celanese Corporation is engaged in the provision of technology and specialty materials business. It operates through the following segments: Engineered Materials, Acetate Tow, and Acetyl Chain. The Engineered Materials segment includes the engineered materials business, food ingredients business, and certain strategic affiliates. The company adopts growth strategies to increase its market share. For instance, in April 2018, Celanese Corporation announced the addition of a new GUR ultra-high molecular weight polyethylene (UHMW PE) production line at its Nanjing, China manufacturing facility to support the growth in its engineered materials business, specifically the electric vehicle market.

Koninklijke DSM N.V. has a major business of nutritional and pharmaceutical ingredients and industrial chemicals. The business segments offered by the company include nutrition, materials, innovation center, and corporate activities. The company has a presence in all the major regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America. The performance materials segment produces synthetic fibers, engineering plastics, and resins used in coatings, and include engineering plastics, DSM Dyneema, and DSM Resins. DSM acquired majority shares of ICD, a UHMW PE fiber manufacturer in China.

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