Ultra high molecular weight polyethylene (UHMWPE) market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Outline: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
Ultra high molecular weight polyethylene market (UHMWPE) is an odorless, tasteless, and nontoxic polyethylene. It has all the characteristics of high-density polyethylene (HDPE), but with the added advantage of being resistant to acids, alkalis, and another organic solvent. UHMWPE is available in many shapes and form as per its use in various applications. The major segment contributing to the global UHMWPE market is the medical segment which accounts for almost 30% of the market share in 2016. The usage of UHMWPE is increasing more due to its suitable characteristics as an implant for orthopedic surgeries, which is increasing the demand of UHMWPE in the market.
Market Dynamics: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
Increasing demand from the medical implant industry and increasing use of UHMWPE-based protection gear also high demand from North America will boost the growth of the ultrahigh molecular weight polythene (UHMWPE). However volatile prices of raw material will hinder the growth of the ultrahigh molecular weight polyethylene market.
Market Scope: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
Ultra high molecular weight polyethylene (UHMWPE) market is segmented based on product type, application, and end user
Based on form type, market is segmented into the following:
Based on the end user, market is segmented into the following:
- Defense & Shipping
- Healthcare & Medical
- Mechanical Equipment
Based on the application, the market is segmented into the following:
- Medical Grade & Prosthetics
Regional Analysis: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
Geographically, Ultra high molecular weight polyethylene (UHMWPE) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America UHMWPE market dominated the global industry in the recent past and is expected to grow at a CAGR of over XX% over the next few years. Growing geriatric population coupled with increase in joint replacement cases has also played a vital role in driving the U.S. There are large number of automotive manufacturing facilities across the U.S. and Canada resulting in an increase in demand for battery separators and is expected to have positive impact on the overall market. Ongoing investments in battery manufacturing facilities in North America and Asia Pacific is expected to steer UHMWPE demand over the long term. Most countries in the European Union have reported an increase in hip and knee replacement surgeries, which in turn is expected to assist the UHMWPE market over the next seven years. Overall, medical grade & prosthetics market is estimated to witness highest growth over the forecast period followed by batteries market.
Competition Assessment: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
Some of the players in the ultrahigh molecular weight polythene market include:
- Braskem S.A. (Brazil)
- Celanese Corporation (U.S.)
- LyondellBasell Industries N.V. (Netherlands)
- Koninklijke DSM N.V. (Netherlands)
- Asahi Kasei Corporation (Japan)
- Mitsui Chemicals, Inc. (Japan)
- Quadrant Engineering Plastic Products AG (Switzerland)
- I. Du Pont De Nemours and Company (U.S.)
- Honeywell International, Inc. (U.S.)
- Toyobo Co., Limited (Japan)
- Rochling Engineering Plastics SE & Co. KG (Germany
Notable Market Developments: Ultra High Molecular Weight Polyethylene (UHMWPE) Market
- In February 2016, Koninklijke DSM entered into an agreement with Toyobo Co. Ltd. (Japan) to expand its UHMW PE fiber manufacturing facility in Japan. The agreement involves investment refurbishment and up gradation of their shared manufacturing facility located in Tsuruga City. After this agreement comes into effect, Toyobo will use its own trademark to sell Dyneema.