Ultra High Molecular Weight Polyethylene Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Mar 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Ultra High Molecular Weight Polyethylene market size is expected to be worth around US$ 5.43 billion by 2030, according to a new report by Vision Research Reports.

The global Ultra High Molecular Weight Polyethylene market size was valued at US$ 1.83 billion in 2020 and is anticipated to grow at a CAGR of 12.10% during forecast period 2021 to 2030.

Growth Factors

Increasing product demand from the medical & prosthetics application is expected to significantly drive the market during the forecast period. The product has been witnessing increasing acceptance as prosthetics in the medical industry for the past few years.

This rising acceptance can be attributed to its favorable physical and chemical properties, such as higher flexibility as compared to metals, and superior strength. Technological advancements have resulted in prosthetics having a longer operational life and being more comfortable for users. Over the recent years, the market participants have taken active steps to process ultra high molecular weight polyethylene (UHMWPE) and improve its properties. The product is majorly used for hip, knee, and spine implants.

The Asia Pacific region is anticipated to progress at the fastest CAGR of 13.1% over the forecast period. China led the regional market in 2020 and is anticipated to witness significant growth during the forecast period owing to the rising product demand in applications including medical grade & prosthetics, filtration, batteries, fibers, additives, and membranes. The increasing efforts by the government to improve public access to healthcare services and the rising incidences of chronic diseases are the major factors driving the product demand in medical-grade & prosthetics applications in the country.

In addition, increasing government expenditure to improve infrastructure and accessibility in rural and urban areas is expected to fuel the demand for medical devices. The aforementioned factors are projected to augment the demand for UHMWPE in the country over the forecast period. However, the recent outbreak of Covid-19 in countries, such as India, China, and Japan, are affecting the product demand in fibers, batteries, additives, and other applications owing to the slowdown in manufacturing activities, restrictions in supply & transport, and declining demand from end-use consumers, which is expected to hamper the overall market growth.

The fiber application segment is anticipated to progress at a robust growth rate over the forecast period. The product is used in the form of fibers for various applications, which include cut resistance gloves, ropes & fishing nets, protective armor, sports & leisure goods, and sling & braids. A surge in demand for high tenacity multifilament polyethylene yarns is expected to benefit the overall demand over the forecast period. In addition, increasing adoption of medical-grade UHMWPE fiber in cardiovascular, orthopedic, and trauma applications, such as implantable cardiac defibrillators, (CRT) devices, vascular closure devices, central venous catheters, cranial plates, and scaffolds, is anticipated to drive the market growth in the coming years.

Report Highlights

The medical-grade & prosthetics product segment led the market and accounted for more than 30% of the global revenue in 2020. UHMWPE has been one of the most preferred materials to use in the production of medical implants. It has been relied upon because of its high resistance to wear and abrasion coupled with its excellent durable properties. It is a material with long chains with extremely pliable and good impact strength. Moreover, these materials have less weight as compared to metal materials. These properties have increased the product demand in medical applications in the past few years and the trend is projected to continue over the forecast period.

Moreover, UHMWPE's use in joint replacement surgeries on account of its versatility and effectiveness is further projected to fuel the product demand over the forecast period. The rising aging population, lack of fitness, and changing lifestyle are majorly contributing to the increasing number of joint replacement surgeries across the globe, which, in turn, is projected to create demand for UHMWPE over the forecast period.

UHMWPE sheets are extensively used to solve wear, friction, and material flow challenges in various application industries. This material sheet is distinguished owing to its outstanding sliding properties, high impact strength, extreme wear resistance, and high chemical resistance. UHMWPE sheets are widely used in various application industries, such as packaging, food & beverage, general conveyor technology, and chemicals.

The medical-grade & prosthetics application segment led the market and accounted for more than 30% of the global revenue in 2020. The growing geriatric population, especially in North America and Europe, is presumed to play a critical role in shaping the medical-grade & prosthetics market over the forecast period. Technological advancements related to UHMWPE usage as prosthetics are crucial factors that are expected to impact the global market positively.

UHMWPE is a durable polymer that is ideally used as a stable porous medium for general and fluid-based environments. Higher product prices make it affordable, mostly in developed regions, such as North America and Europe. Reliability and favorable regulations are expected to benefit the product demand in the filtration industry. The product has gained popularity in lead-acid battery separators in the past few years.

Its higher molecular weight compared to the conventional HDPE, PVC, glass fiber, and cellulose separators are expected to drive its global demand over the forecast period. UHMWPE is used as additives in the engineering plastics and rubber industry. They are used to enhance lubricity and are also used in certain coatings. Also, properties, such as good impact strength, wear & abrasion resistance, and low friction compared to conventional polymers, are further projected to propel the product demand in additives application.

North America dominated the market and accounted for over 40% share of global revenue in 2020. The U.S. led the market in North America in 2020 and is projected to maintain its dominance over the forecast period. UHMWPE in protective armor application is witnessing significant growth in the region. Increasing military & defense budget in the U.S. The rising threat of terrorist activities is expected to drive the product demand in North America.

The government military programs, such as the Soldier Protection System, which comprise a series of lighter weight ballistic plates, more lightweight combat helmets, bulletproof vests, and other protective armor to aid soldier mobility, are expected to create a massive opportunity for UHMWPE over the forecast period. In addition, growth in reported cases of joint surgeries, such as that of hips and knees, will support the market in the U.S.

Furthermore, increasing production and preference for seafood are positively influencing the growth of the country’s fishing industry, which, in turn, is creating demand for aquaculture nets, thereby propelling the product demand in fibers application. However, growing cases of Covid-19 in the U.S. are anticipated to affect the market growth to some extent.

Key Players

  • Celanese Corp.

  • LyondellBasell Industries Holdings B.V.

  • Koninklijke DSM N.V.

  • China Petrochemical Corporation

  • Mitsubishi Chemical Advanced Materials Group

  • LianLe Chemical Corporation

  • Crown Plastics, Inc.

  • Braskem

  • Asahi Kasei Corporation

  • Dotmar Engineering Plastics

  • Mitsui Chemicals, Inc.

  • Garland Manufacturing Company

  • TSE Industries, Inc.

Market Segmentation

  • Product Outlook 

    • Medical-grade & Prosthetics

    • Fibers

    • Sheets

    • Rods

    • Others

  • Application Outlook

    • Medical-grade & Prosthetics

    • Filtration

    • Batteries

    • Fibers

    • Additives

    • Membranes

    • Others

  • Regional Outlook 

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

The Ultra High Molecular Weight Polyethylene market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Ultra High Molecular Weight Polyethylene market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Ultra High Molecular Weight Polyethylene market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ultra High Molecular Weight Polyethylene market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ultra High Molecular Weight Polyethylene market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Ultra High Molecular Weight Polyethylene capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Ultra High Molecular Weight Polyethylene by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ultra High Molecular Weight Polyethylene market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ultra High Molecular Weight Polyethylene market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ultra High Molecular Weight Polyethylene market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Ultra High Molecular Weight Polyethylene industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Ultra High Molecular Weight Polyethylene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ultra High Molecular Weight Polyethylene market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ultra High Molecular Weight Polyethylene market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ultra High Molecular Weight Polyethylene market. These factors have benefited the growth of the global market for Ultra High Molecular Weight Polyethylene. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ultra High Molecular Weight Polyethylene. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Ultra High Molecular Weight Polyethylene are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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