Ultra-High Molecular Weight Polyethylene Market Research Report
Growth opportunities in the ultra-high molecular weight
polyethylene market look promising over the next six years. This is mainly due
to the expanding demand for medical implants from the healthcare sector and the
increasing aging population.
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Polyethylene Market
Ultra-High Molecular Weight
Polyethylene Market Dynamics (including market size, share, trends, forecast,
growth, forecast, and industry analysis)
Key
Drivers
The crucial drivers contributing to the propelling demand of
ultra-high molecular weight polyethylene include the flexible properties of the
material, such as durability, less friction, chemical resistance for various
industrial uses. Also, the augmenting demand for medical implants in the
healthcare industry has strengthened the ultra-high
molecular weight polyethylene market size. Moreover, accelerating geriatric
population primarily in countries including Germany, U.S., and Japan adds to
the market growth. In accordance with the World Population Prospects 2019
(United Nations, 2019), one out of every six people in the world will be above
the age of 65 by 2050, up from one in 11 in 2019. There were 703 million older
persons throughout the world of 65 years or above in 2019, and the life
expectancy is also estimated to be 72.63 years by 2020, which is likely to
bring the number of people aged 65 years and more to over 1.5 billion, by 2050.
According to the National Bureau of Statistics of China, in
December 2020, retail sales of household appliances and consumer electronics in
China totaled approximately US$ 15.4 billion. Also, the escalating food and
beverage, chemical, and paper industries in Asia-Pacific are driving the demand
for UHMWPE in many applications. However, the high price associated with the
material is anticipated to obstruct the market growth.
Application
Segment Drivers
Based on the application, filtration is projected to witness
a higher CAGR in the market over the forecast period. This is mainly because of
the favorable regulations and dependence, which are likely to benefit the
product demand in the filtration industry. Moreover, the latest innovations in
the material for filtration by the leading market players have raised the
growth. For example, B.V. lately introduced an innovative membrane platform
based on Ultra High Molecular Weight Polyethylene for better filtration
performance.
Regional
Drivers
Based on the regional coverage, North America is predicted
to expand at a faster CAGR in the market over the forecast period. As per the
"American Medical Association," health expenditure by the U.S. has
raised by 4.6% in the year 2018 from 4.2% in 2017 and has reached US$ 3.6
trillion, which has remarkably impelled the market growth. In addition, the
robust prevalence of key players in the Celanese Corporation, DSM, and
Koninklijke Dsm N.V. has bolstered the market share.
Ultra-High
Molecular Weight Polyethylene Market’s leading Manufacturers:
·
Mitsui Chemicals, Inc.
·
Asahi Kasei Corporation
·
China Petrochemical Corporation
·
Koninklijke Dsm N.V
·
Celanese Corporation
·
Dotmar Engineering Plastics
·
DSM
·
Lianle Chemical Corporation
·
Mitsubishi Chemical Advanced Materials Group
·
Lyondellbasell Industries Holdings B.V.
Ultra-High Molecular Weight Polyethylene Market Segmentation:
Segmentation by Product
·
Medical-Grade & Prosthetics
·
Fibers
·
Sheets
·
Rods
·
Others
Segmentation by Application
·
Filtration
·
Batteries
·
Fibers
·
Additives
·
Membranes
·
Others
Segmentation by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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