Dublin, July 24, 2020 (GLOBE NEWSWIRE) -- The "Ultra-High Molecular Weight Polyethylene Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global market for ultra-high molecular weight polyethylene is expected to grow at a CAGR of more than 6% globally during the forecast period.
Increasing applications for high-performance polymers and growing demand from the medical sector are driving the market growth. Ultra-High Molecular Weight Polyethylene has a low melting point, UHMWPE is not suitable for certain heavy load applications, and the Impact of COVID-19 which in turn is expected to hinder the market growth.
The global ultra-high molecular weight polyethylene market is partially consolidated in nature with a few major players occupying a significant portion of the market. Some of the major companies are Asahi Kasei Corporation, Braskem, Mitsui Chemicals, LyondellBasell Industries N.V., and Celanese Corporation, among others.
Key Market Trends
Growing Demand from Automobile and Defense Sectors
- Ultra-High Molecular Weight Polyethylene (UHMWPE) is a high-performance thermoplastic polymer that has a very high molecular density. It has been majorly used for automobiles, ballistic protection, medical, and production of various machined parts.
- The demand for the UHMWPE from the automobile industry has been growing because of its properties. UHMWPE is being used in automobile parts such as valves, pistons, gears, bearings, wear strips, and so on.
- The properties of UHMWPE include sliding abrasion resistance, high impact resistance, good chemical resistance, energy absorption and sound-dampening, and excellent dielectric and insulating properties.
- Due to these outstanding properties, UHMWPE also being used for manufacturing defense components. The demand for the UHMWPE has been increasing because of growing and upgrading defense units in all the countries.
- Recently, the outbreak of COVID-19 in all regions is expected to decrease the demand for UHMWPE from the manufacturing and other end-user industries in the short term.
- Increasing applications for high-performance polymers in automobiles, technological advancements in the military sector are driving the demand for ultra-high molecular weight polyethylene through the years to come.
Asia-Pacific to Dominate the World Market
- Asia-Pacific is expected to dominate the global market owing to the highly developed automobile sector in China, Korea, Japan, and India, coupled with the continuous investments done in the region to advance the medical sector through the years.
- Recently, UHMWPE is majorly being used in orthopedic applications because of its properties. The expanding medical sector in Asia-Pacific is one of the reasons leading to an increase in the demand for Ultra-High Molecular Weight Polyethylene (UHMWPE) in recent years.
- UHMWPE is also being used in mechanical equipment. China has more number of mechanical component manufacturing plants and also rapid industrialization in Asia-Pacific is expected to increase the demand for the UHMWPE in the coming years.
- According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), Asia-Pacific leads global automobile production in recent years. China is the largest producer of automobiles and China alone produced 25,720,665 vehicles in 2019.
- The impact of COVID-19 across the globe has resulted in the lockdown of various manufacturing activities. Due to this, all production units have been stopped for a brief period. Hence, the demand for the UHMWPE for the automotive sector is estimated to have decreased during this period.
- Also, growing paper, food and beverage, chemical industries in Asia-Pacific are the reasons to increase the demand for UHMWPE in various applications.
- The continuous growth in the medical sector, increasing demand from automobile and aerospace sectors, and other end-user industries are expected to drive the market for ultra-high molecular weight polyethylene through the years to come.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications for High-Performance Polymers
4.1.2 Growing Demand from Medical Sector
4.2 Restraints
4.2.1 Low Melting Point and Not Suitable for High Load Applications
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 End-user Industry
5.1.1 Automotive
5.1.2 Aerospace and Defense
5.1.3 Medical
5.1.4 Chemical
5.1.5 Electronics
5.1.6 Other End-user Industries
5.2 Geography
5.2.1 Asia-Pacific
5.2.2 North America
5.2.3 Europe
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Asahi Kasei Corporation
6.4.2 Braskem
6.4.3 Celanese Corporation
6.4.4 DSM
6.4.5 Rochling Group
6.4.6 KPIC
6.4.7 LyondellBasell Industries N.V.
6.4.8 Mitsui Chemicals
6.4.9 Teijin Aramid
6.4.10 Toyobo Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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