Aug 27, 2020   SOURCE: BusinessWire

Worldwide Ultra-High Molecular Weight Polyethylene Industry to 2025 - Featuring Braskem, Celanese & Lyondellbasell Industries Among Others - ResearchAndMarkets.com

The "Ultra-High Molecular Weight Polyethylene Market by Form (Sheets, Rods & Tubes, Fibers, Films, Tapes), End-Use Industry (Aerospace, Defense & Shipping, Healthcare & Medical, Mechanical Equipment, Food & Beverages), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global UHMW PE market was valued at USD 1,630 million in 2019 and is projected to reach USD 2,234 million by 2025, at a CAGR of 9.4% from 2020-2025.

Growth in the healthcare & medical industry due to the increasing use of UHMW PE for the manufacture of prosthetic implants is leading to a demand for UHMW PE. However, volatile prices of raw materials are expected to restrain the UHMW PE market.

Impact of COVID-19 outbreak on the UHMW PE market

The outbreak of COVID-19 has affected the market for UHMW PE, as most of the global companies operating in this market are based in the US and the European countries. These companies having their manufacturing units in China and other Asian countries are also severely affected. Therefore, disruptions in the supply chain have resulted in hampering production units due to a lack of raw materials and workforce. The market is estimated to witness negative growth until the second quarter of 2020. The lockdown in major countries due to this pandemic has also led to the shutdown of the production of plastic products.

Europe and North America aircraft manufacturers and lockdowns imposed by governments have led to significant losses to manufacturers in the region. This decrease in the production of aircraft has led to a decline in the demand for UHMW PE, which affects the growth of the market. The outbreak of COVID-19 has also affected the number of joint replacement surgeries. The large number of cases canceled because of COVID-19, which led to major financial losses for healthcare institutions and have impacted patients.

Sheets segment to grow at the highest CAGR in the UHMW PE market between 2020 and 2025

Sheets segment is projected to be the fastest growing form segment in the UHMW PE market during the forecast period. The increasing application of UHMW PE sheets has led to propel the market. UHMW PE has wide industrial applications in the aerospace, shipment, manufacturing, and bottling industries, owing to its resistance to wear and impact. UHMW PE sheets are used in conveyor belts in the food processing industry due to properties such as ease of machining, self-lubrication, and chemical stability. These properties are expected to drive the sheets segment.

Mechanical Equipment segment to lead the UHMW PE market between 2020 and 2025

UHMW PE is widely used in machine equipment across industries such as textiles, paper & pulp, foods & beverages, packaging, power, cement, chemical, minerals & metals, agriculture, and logistics & transportation. UHMW PE also helps to enhance surface lubricity, which leads to the free movement of machine components, thereby reducing jamming from dirt, grit, or static build-up.

The North American region is expected to lead the global UHMW PE market during the forecast period

By region, North America is estimated to account for the largest share of the global UHMW PE market in 2019, and the U.S. is estimated to account for the largest market share in 2019. The growth of the UHMW PE market is primarily driven by the significant demand for orthopedic implants and aircraft components in North America. An increase in the number of joint replacement surgeries for knees and hips coupled with an increase in the geriatric population is projected to fuel the demand for UHMW PE in the making of prosthetics. The high demand of UHMW PE in healthcare, military & defense, electronics, and other end-use industries drives the market in North America.

Market Dynamics

Drivers

  • Increasing Orthopedic Implants in European and American Countries

Restraints

  • Volatile Prices of Raw Materials

Opportunities

  • Compliance With Various Legal and Administrative Bodies
  • Increasing Demand for Ballistic Protection Products

Challenges

  • Development of Substitutes in Medical Applications

Companies Profiled

  • Braskem S.A.
  • Celanese Corporation
  • Lyondellbasell Industries N.V.
  • Koninklijke Dsm N.V.
  • Asahi Kasei Corporation
  • Mitsui Chemicals, Inc.
  • Saudi Basic Industries Corporation
  • E. I. Du Pont De Nemours and Company
  • Honeywell International Inc.
  • Toyobo Co. Limited
  • Teijin Limited
  • Rochling Engineering Plastics Pvt. Ltd.
  • Quadrant Engineering Plastic Products
  • Crown Plastics Company, Inc
  • Redwood Plastics
  • King Plastic Corporation
  • Garland Manufacturing Company
  • Korea Petrochemical Ind. Co. Ltd
  • Orthoplastics
  • Cp Medical, Inc.
  • Emco Industrial Plastics, Inc.
  • Global Polymers
  • Shanghai Lianle Chemical Industry Science and Technology Co. Ltd
  • Nitto Denko Corporation
  • Shandong Ningjin Xinxing Chemical Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/x1kepr