Global Ultra-High Molecular Weight Polyethylene Market to be Driven by growing demand from various applications in the Forecast Period of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
Forecast CAGR (2021-2026): 10%
Forecast Market Size (2026): USD 2.63 Billion
Over the forecast period, growing demand from medical and prosthetics applications is expected to drive the market forward significantly. UHMWPE is gaining popularity as a prosthetic material in the medical industry. This growing popularity may be attributed to its advantageous physical and chemical properties, such as improved flexibility and strength.
As a result of technical developments, prosthetics have a longer working life and are more convenient for users. In recent years, market participants have been working hard to process UHMWPE and grow its properties. The material is primarily used to insert shoulders, knees, and spines.
Industry Definition and Major Segments
Ultra-High Molecular Weight Polyethylene (UHMWPE) has a molecular weight of 5 to 9 million. It is a polyethylene subset that is thermoplastic. It has low friction, high abrasion resistance, and high strength. It is also light, self-lubricating, chemically resistant, and sound-dampening.
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By form, the market is divided into:
Rods and Tubes
Based on applications, the industry is segmented into:
Medical Grade and Prosthetics
On the basis of end-use industry, the market is segregated into:
Healthcare and Medical
Defense and Military
Food and Beverages
Based on region, the market is segmented into:
Middle East and Africa
The significant demand for orthopedic implants in Europe and North America is propelling the global UHWM-PE market forward. The demand for UHMW-PE in prosthetics is expected to rise due to an increase in the number of joint replacement operations for knees and hips, as well as an increase in the geriatric population. Since it is solid and flexible, it is used for non-absorbable sutures.
Furthermore, UHMW-PE sutures are flatter than polyester and poly-blend sutures, which are commonly used. Because of its use in personal protection equipment and anti-ballistic applications, UHMW-PE is in high demand in the military and defense industry. During the forecast era, the global demand for homeland security and counter-terrorism activities is projected to have a positive effect on the sector.
Because of the high use of UHMW-PE in healthcare, military & defense, automotive, electronics, and other end-use industries, North America accounted for the largest market share. The increasing use of electric and hybrid vehicles in this area is expected to push up product demand in the automotive industry. During the review era, the European region's large industrial base, combined with high demand for UHMW-PE in the healthcare, electronics, and automotive industries, is expected to drive regional market growth.
Key Market Players
The major players in the market are Celanese Corporation, Lyondellbasell Industries Holdings B.V., Koninklijke DSM N.V., Mitsubishi Chemical Holdings Group, Asahi Kasei Advance Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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