New York, U.S., Jan. 02, 2023 (GLOBE NEWSWIRE) — Ultra High Molecular Weight Polyethylene (UHMWPE) Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Ultra High Molecular Weight Polyethylene (UHMWPE) Market Information by Form, End-Use Industry, and Region – Forecast till 2028”, the market is estimated to grow at a 9.5% CAGR to reach USD 3.4 Billion by 2028.
Utilizing UHMWPE results in lighter weight, lessened noise and vibration, lower production costs, and minimal maintenance. Due to its very high impact strength, it is also employed for vehicle armor and personal protective equipment. The demand for the product has increased as a result of efforts made by several countries across the world to equip their military and law enforcement forces with better protective gear.
Due to its characteristics including resistance to chemicals, moisture, corrosion, and dirt, ultra-high molecular weight polyethylene is becoming more and more popular in military applications. UHMWPE is also chosen over other traditional metals and polymers in the military industry because of its qualities, including lightweight, low friction coefficient, self-lubricating, high impact strength, great energy absorption capacity, wide service temperature range, and wear resistance.
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|Market size in 2028||USD 3.4 trillion|
|forecast units||Value (trillion)|
|report coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segment covered||By Form, End-Use Industry, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The increasing use of UHWM-PE in making lithium-ion battery separator is expected to offer a lucrative opportunity.|
|The inclination towards the use of electric and hybrid vehicles, which use lithium-ion batteries.|
Market Competitive Landscape:
The important vendors in the Ultra High Molecular Weight Polyethylene industry are
- Braskem (Brazil)
- Celanese Corporation (US)
- LyondellBasell Industries Holdings BV (Netherlands)
- DSM (Netherlands)
- Asahi Kasei Advance Corporation (Japan)
- Mitsui Chemicals Inc. (Japan)
- DuPont de Nemours Inc. (US)
- Honeywell International Inc. (US)
- Mitsuboshi Belting Ltd (Japan)
- Teijin Aramid BV (Netherlands)
- Nanoshell LLC (Germany)
- TOYOBO CO. LTD (Japan)
Major players, in particular, compete based on techniques to implement new technologies in the UHMWPE manufacturing process, product portfolio advancements, and production capacity expansions.
The cost of the raw ingredients required to make UHMWPE and their associated costs have a big impact on the final product’s price. As a result, throughout the forecast period, the price of raw materials like ethylene and polyethylene terephthalate is anticipated to have a significant impact on the market. Many established and up-and-coming firms are increasing the production facilities’ capacity in order to reduce their fixed costs by meeting the rising demand from end-use applications.
Market USP covered:
Over the projection period, the market will be driven by rising government investments and initiatives to provide their militaries with superior protective gear. Soldier movement is impossible without protective equipment such as shields, plate inserts, bulletproof vests, war helmets, and armor. Demand for aerospace & defense products will increase because of government initiatives like SPS.
For wire ropes used in aerospace and defense, UHMWPE is more durable and secure than steel. UHMWPE is used in automobile seat components, belts, and truck shock spacers because of its self-lubricating and vibration-reducing properties. The market will be driven by the rapidly expanding automotive industry.
The demand for UHMWPE is one major element influencing the aging population. The reason for this is the aging population’s increasing need for implants and healthcare. The elderly population is growing in nations like China and Japan. The high strength-to-weight ratio, self-lubrication, chemical resistance, superior dielectric & electrical insulation, and impact resistance of UHMWPE further contribute to its strong demand from producers of orthopedic implants and parts for medical equipment. Additionally, it is projected that the increase in EV would increase demand for UHMWPE because it is used to create lightweight electric vehicle components and acts as a battery separator in EV batteries.
Ultra-high molecular weight polyethylene is used more frequently in the medical field thanks to its higher biocompatibility, wear resistance, and ductility. For the purpose of giving patients enduring implants, numerous research initiatives have been conducted to develop UHMWPE with superior mechanical and tribological performance. For use in biomedical implants, several companies have introduced products of the highest quality.
Additionally, superior prostheses with longer useful lives and greater patient comfort levels have been made possible by technical advancements. Additionally, there has been an upsurge in hip and knee replacement surgeries recently. The rising senior population in countries like Germany, the United States, and Japan is expected to drive demand during the forecast period. Ultra-high molecular weight polyethylene is one of the polymers that is most sought after for usage in the manufacture of medical implants.
Steel, polypropylene, and polyethylene are examples of conventional metals and polymers. UHMWPE is a novel polymer with superior properties. Increased impact resistance, a low coefficient of friction, an extraordinary capacity for absorbing energy, and resistance to wear and abrasion are some of these qualities. However, these advantageous characteristics raise the cost of UHMWPE and are projected to limit its growth in the next few years. Additionally, demand for the good has unfavorably declined across a number of industries as a result of COVID-19’s negative effects on supply, transportation, and industrial output.
Browse In-depth Market Research Report (135 Pages) on Ultra High Molecular Weight Polyethylene (UHMWPE) https://www.marketresearchfuture.com/reports/ultra-high-molecular-weight-polyethylene-market-2081
COVID-19’s influence on various industries was quite drastic as the disease’s global case count rose rapidly worldwide. Based on observed occurrences in China and Europe, the US construction industry faced comparable challenges, including disruptions to the material supply chain, labor shortages, and the closure of construction sites and various other operational activities.
Reduced material availability is expected to lead to aggressive buying habits and the potential to increase the national pricing of high-demand items globally. The inability to get supplies inevitably affected the overall rate of progress of sectors like military & defense, healthcare, electronics, and automotive, which resulted in a decrease in demand for ultra-high molecular weight polyethylene, in addition to potential price hikes.
The global market has been divided into sheets, rods & tubes, and other categories, depending on the form.
The UHMW-PE market can be divided into several segments, in terms of application, including healthcare, automotive, electronics, chemicals, food & beverage, sports & leisure, and others.
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Due to the widespread use of UHMW-PE in the healthcare, military & defense, automotive, electronics, and other end-use industries in 2018, North America held the biggest market share. This region’s growing use of electric and hybrid vehicles is anticipated to drive up product demand in the automotive sector.
Due to the increasing industrialization of emerging nations like India, Malaysia, Thailand, and South Korea, Asia Pacific is the region with the fastest economic growth. In addition, it is anticipated that the growing senior population in Japan, combined with affordability, will increase demand for healthcare products.
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