Ultra High Molecular Weight Polyethylene Market Is Expand At A CAGR Of 12.6%
Posted by rahul nikade on July 27th, 2022
Ultra High Molecular Weight Polyethylene Industry Overview
The global ultra-high molecular weight polyethylene market is anticipated to reach USD 5.59 billion by 2030, growing at a CAGR of 12.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing demand from medical & prosthetics application is expected to significantly drive the market growth during the forecast period. Ultra-high Molecular Weight Polyethylene (UHMWPE) 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 the users. Over the recent years, market participants have taken active steps to process UHMWPE and improve its properties. The product is majorly used for hip, knee, and spine implants.
Ultra High Molecular Weight Polyethylene Market Segmentation
Grand View Research has segmented the global ultra high molecular weight polyethylene market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Medical-grade & Prosthetics, Fibers, Sheets, Rods, Others.
- The medical grade & prosthetics product segment led the ultra-high molecular weight polyethylene market and accounted for more than 33.0% of the global revenue in 2021.
- UHMWPE is a material with long chains with extremely pliable and good impact strength. Besides, 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. This 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.
Based on the Application Insights, the market is segmented into Medical-grade & Prosthetics, Filtration, Batteries, Fibers, Additives, Membranes, Others.
- The medical grade & prosthetics application segment led the ultra-high molecular weight polyethylene market and accounted for more than 33.0% of the global revenue in 2021. 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.
- 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 market demand in the filtration industry.
- UHMWPE has gained popularity in lead-acid battery separators in the past few years. Its higher molecular weight compared to conventional HDPE, PVC, glass fiber, and cellulose separators is expected to drive the global demand for UHMWPE over the forecast period.
- UHMWPE is used as an additive in the engineering plastics and rubber industry. They are used to enhance lubricity and are also used in certain coatings.
Ultra High Molecular Weight Polyethylene Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The raw materials used in the manufacture of UHMWPE along with their affiliated costs play a significant role in determining the price of the product. As a result, the prices of raw materials such as ethylene and polyethylene terephthalate are expected to play a vital role in the market over the forecast period.
Some prominent players in the global ultra high molecular weight polyethylene market include
- Celanese Corporation
- LyondellBasell Industries Holdings B.V.
- Koninklijke DSM N.V.
- China Petrochemical Corporation
- Mitsubishi Chemical Advanced Materials Group
- LianLe Chemical Corporation
- Crown Plastics, Inc.
- Asahi Kasei Corporation
- Dotmar Engineering Plastics
- Honeywell International, Inc.
- Mitsui Chemicals, Inc.
- TSE Industries, Inc.
- Garland Manufacturing Company
Order a free sample PDF of the Ultra High Molecular Weight Polyethylene Market Intelligence Study, published by Grand View Research.