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CHEMICALS AND ADVANCED MATERIALS

Ultra-high Molecular Polyethylene Market Segmentation by Form (Sheets, Fibers, Films, Tapes, and Others); by Application (Medical Prosthetics, Fibers, Additives, and Others); and by End-User (Automotive, Aerospace, Defense, Medical, Chemical, Electronics, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Ultra-high Molecular Polyethylene Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 08, 2021: LyondellBasell to acquire the new sustainability certification for its European polymer sites, which will offer certificates for its advanced molecular, recycled and renewable-based polymers.
  • May 06, 2021:  Asahi Kasei Home Products Co., Ltd. to join hands with Kagome Co., Ltd., for future ventures.

Global Ultra-high Molecular Polyethylene Market Highlights over 2020-2029

The global ultra-high molecular polyethylene market is estimated to garner a sizeable revenue by growing at a notable CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the various applications of these polymers, including medical prosthetics, additives, fibers and membranes, backed by their beneficial properties. Ultra-high molecular polyethylene is light weighted, resistant to chemicals, moisture, corrosion, & dirt, and requires comparatively low maintenance. Moreover, growing demand for these polymers to make prosthetics is expected to boost the market growth. According to a report by the World Health Organization, about 15% of the global population has some form of disability, and this number is increasing, which is anticipated to boost the demand for prosthetic body parts.

Global-Ultra-high-Molecular-Polyethylene-Market-Overview

The market is segmented by form into sheets, fibers, films, tapes, and others, out of which, the fibers segment is anticipated to hold the notable share in the market during the forecast period on account of the increasing application of fibers in the medical industry as medical grade prosthetics, and implants. On the other hand, the sheets segment is estimated to garner a considerable share during the forecast period, owing to the growing use in the mechanical equipment industry for manufacturing volume containers, such as, cans and bottles. On the basis of end-user, the market is segmented into automotive, aerospace, defense, medical, chemical, electronics, and others, out of which, the medical segment is anticipated to garner maximum revenue during the forecast period on the back of increasing use of ultra-high molecular polyethylene as prosthetics, backed by the light-weight, porosity, high resistance to wear and abrasion coupled with its excellent durable properties. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals-Value-Added-in-Manufacturing

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Ultra-high Molecular Polyethylene Market Regional Synopsis

Regionally, the global ultra-high molecular polyethylene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of advanced healthcare sector, along with the favourable reimbursement and health insurance policies in the region, which raises the demand for prosthetics. The market in the Asia Pacific is projected to witness highest CAGR over the forecast period owing to the rising manufacturing sector in countries, such as, China, Japan, and India, coupled with the constant investments in the regional market.

Global-Ultra-high-Molecular-Polyethylene-Market

The global ultra-high molecular polyethylene market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global ultra-high molecular polyethylene market includes the following segments:

By Form

  • Sheets
  • Fibers
  • Films
  • Tapes
  • Others

By Application

  • Medical Prosthetics
  • Fibers
  • Additives
  • Others

By End-User

  • Automotive
  • Aerospace
  • Defense
  • Medical
  • Chemical
  • Electronics
  • Others

Growth Drivers

  • Increasing Demand for Prosthetics in the Medical Sector
  • Properties, such as, lower weight, corrosion resistance, and others

Challenges

  • High Costs over other Polymers

Top Featured Companies Dominating the Market

  • LyondellBasell Industries Holdings B.V.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Koninklijke DSM N.V
  • Asahi Kasei Corporation
  • Braskem SA
  • Shanghai Lianle Chemical Industry Science and Technology Co., Ltd.
  • Mitsui Chemicals, Inc.
  • TSE Industries, Inc.
  • Dotmar Engineering Plastics Limited
  • Garland Manufacturing Company
  • China Petrochemical Corporation (SINOPEC)

 

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