888-776-0942 from 8 AM - 10 PM ET
NEW DELHI , April 5, 2022 /PRNewswire/ -- According to the study undertaken by Astute Analytica, the Global Ultra High Molecular Weight Polyethylene Market is projected to witness a growth in its revenue from US$ 2,013.1 Mn in 2021 to US$ 3,815.1 by 2026, registering a CAGR of 13.4% over the forecast period 2022-2026. In terms of volume, the market is anticipated to witness a CAGR of 12.2% over the projection period. UHMWPE (ultra-high molecular weight polyethylene) is an extremely tough plastic with high abrasion and wear resistance. UHMWPE is odorless, tasteless, and nontoxic. It embodies all the characteristics of high-density polyethylene (HDPE) with the added traits of being resistant to concentrated acids and alkalis, as well as numerous organic solvents. Further, it is highly resistant to corrosive chemicals, has extremely low moisture absorption and a very low coefficient of friction, is self-lubricating, and is highly resistant to abrasion.
Request a Sample Report of Ultra-High Molecular Weight Polyethylene Market: https://www.astuteanalytica.com/request-sample/ultra-high-molecular-weight-polyethylene-market
The market is majorly driven by factors such as increasing geriatric population coupled with increased demand for orthopedic implants, high range of applications of UHMW PE and increasing demand of electric vehicles. UHMWPE has a clinical history as a biomaterial for use in hip, knee, and spine implants. Increasing geriatric population is one of the major drivers for the demand of UHMWPE. This can be attributed to the increasing requirement of healthcare and medical implants among the elderly. The elderly population is growing in countries such as China and Japan . Furthermore, due to properties of UHMWPE such as high strength to weight ratio, self-lubrication, superior sound dampening, excellent dielectric & electrical insulating, chemical resistance and impact resistance, there is a high demand for UHMW PE from the manufactures of orthopedic implants and parts for medical devices. Moreover, industries such as automotive, industrial & heavy equipment, electronics and others are highly adopting the use ultra-high molecular weight polyethylene due to its beneficial properties and tensile strength. In addition, the rise in EV is expected to increase the demand of UHMWPE as it is used as a battery separator in electric vehicle batteries as well as to manufacture spare electric vehicle parts. However, the volatile prices of the raw material and the rising environmental concerns regarding the use of plastics are projected to hamper market growth.
Sheets segment has the highest share in the Global UHMWPE Market in 2021
Based on the form, the global ultra-high molecular weight polyethylene market is categorized into sheets, rods & tubes, fibers, films, tapes, and others.
Among these, the sheets segment holds the highest share in the global UHMWPE market in 2021 and is projected to continue its dominance over the projection period. Ultra-high molecular weight polyethylene sheets are utilized for lining chutes & hoppers as well as in food production environments where high volumes of containers like cans or bottles need to be guided along conveyors or production lines.
Medical grade & prosthetics is the leading application segment of UHMWPE Market
In terms of application, the market is segmented into medical grade & prosthetics, food processing machinery parts, water treatment, wear strips and guide rails, packaging machinery parts, bumpers, pile guards, and dock fenders, high speed conveyors, star wheels and idler sprockets, chute, hopper, and truck bed liners, batteries, and others. The medical grade & prosthetics segment leads the market in 2021, owing to an increasing geriatric population and increasing number of orthopedic implants across the globe. The second highest application of UHMWPE is in bumpers, pile guards, and dock fenders
Industrial equipment segment is the highest end user of UHMWPE in 2021
Based on end-use, the UHMWPE market is classified into healthcare & medical, aerospace, defense & shipping, oil & gas, automotive & transportation, electronics, fibers and textiles, sports & leisure, industrial & heavy equipment, recreation & consumer, pipe & mining, material handling, water filtration, food & beverages, chemical, and others. Out of these, the industrial equipment segment has the highest market share in 2021, whereas the healthcare & medical segment has the highest CAGR over the projection period. The versatility of UHMW polyethylene has made it a popular plastic for countless industrial and medical applications that require durability, low friction, and chemical resistance.
North America dominates the Global UHMWPE Market in 2021
North America dominates the global UHMWPE market in 2021 and is further estimated to continue its dominance over the projection period 2022-2026. The presence of key market players in the region along with wide adoption of ultra-high molecular weight polyethylene in numerous industries such as aerospace & defense, automotive, and healthcare, among others is propelling the market growth. Asia Pacific has the highest CAGR over the forecast period due to growing healthcare spending and rising medical tourism in the region.
Directly Purchase a copy of report with TOC @ https://www.astuteanalytica.com/request-sample/ultra-high-molecular-weight-polyethylene-market
LyondellBasell Industries Holdings B.V, Celanese Corporation, Mitsubishi Chemical Advanced Materials Group of Companies, Mitsui Chemicals, Inc., and Braskem S.A. among others
By Form, By Application, By End-Use, By Region
North America, Europe, Asia Pacific, Middle East & Africa, South America
Get your customized report as per your preference. Ask for customization
The following are the different segments of the Global Ultra High Molecular Weight Polyethylene Market:
Enquire more about this report before purchase @ https://www.astuteanalytica.com/request-sample/ultra-high-molecular-weight-polyethylene-market
For Additional Information OR Media Enquiry, Please Mail Us At: [email protected]
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg BSI Business Park, H-15,Sector-63, Noida- 201301- India Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) Email: [email protected] Website: www.astuteanalytica.com Follow US: LinkedIn | Twitter
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET