Global Ultra-High Molecular Weight Polyethylene Market Report 2020: Manufacturing Slump Impacts demand for High Strength Engineering Plastics

Research and Markets

Dublin, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The "Ultra-High Molecular Weight Polyethylene - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Manufacturing Slump Impacts demand for High Strength Engineering Plastics. UHMWPE Revenues Dip by -6.3%

The global market for Ultra-High Molecular Weight Polyethylene (UHMWPE) is expected to decline by -6.3% in response to the slumping manufacturing activity and thereafter recover and reach US$1.9 billion by the year 2027, trailing a post COVID-19 CAGR of 7.3% over the analysis period 2020 through 2027.

Due to the COVID-19 pandemic, governments across the globe have ordered stay-at-home orders for people and shut-down businesses engaged in the production of non-essential goods. Social distancing is considered to be a potent measure for keeping a check on spread of this pandemic. The economic impact of such restrictions on business activities is expected to be huge. Due to the outbreak, the sentiment across the industrial manufacturing sector has declined drastically during the past few months and indicates strong decline for the entire year. Although restrictions have been eased significantly in some countries, concerns over future financial insecurity is limiting the consumer purchases only to the essential items such as groceries and other basic necessities.

Buying non-essential products such as electronics and automobiles is not a priority for most of the consumers now. Delays and disruptions in production, exports and imports also wield a considerable impact on the demand and hence manufacturing activity. The decline in transportation sector and parallel drop in production of automotive vehicles, aircraft, and marine vessels is curtailing the momentum in the UHMWPE market.

Similarly, ban on air travel, the primary mode of global transmission of COVID-19 disease, in several parts of the world has substantially diminished the aircraft demand with several aviation companies reducing the order size or cancelling the orders altogether. Likewise, construction & mining sectors also witnessed drastic decline, while eroding demand for equipment utilized in these sectors. Against this backdrop, it is expected that UHMWPE market will register a negative growth in 2020, before making a recovery in 2021 on the premise that sentiment in end-user verticals will revive in post COVID-19 period.

In the post COVID-19 period, strong growth in expected to come from healthcare applications. In contrast to nylon fibers, steel, and polyester materials, ultra-high molecular weight polyethylene (UHMWPE) fiber offer relatively more robust, safe, and chemical resistant solutions for end users. Given its superior features, the novel material significantly minimizes risks pertaining to infection and pain among patients.

As a result, UHMWPE is widely employed nowadays in suture applications for repairing broken bones. The advanced fiber is utilized as an actuator in surgical robots for safely carrying out minimally invasive surgical procedures. Due to its compact, flexible, and lightweight features, UHMWPE allow manufacturers to design various implantable cardiovascular equipment such as covered stents and stent grafts. Innovation holds critical importance in today's highly competitive global business scenario and medical devices industry is no exception to this.

Ongoing technological advancements are enabling companies to design abrasion resistant, smooth, and easy to use minimally invasive surgical devices. UHMWPE fibers comply with international standards for mutagencity, pyrogenicity, hem compatibility, sensitization/irritation, cytotoxicity, and genotoxicity. Driven by increasing popularity of minimally invasive surgeries and implants, demand for UHMWPE fibers will witness significant increase.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession

  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP

  • Ultra High Molecular Weight Polyethylene: A Thermoplastic with Amazing Properties

  • Production & Extrusion Processing

  • Ultra High Molecular Weight Polyethylene Market Exudes Immense Growth Potential

  • Intriguing Material Properties Stoke Growth of UHMWPE Market: Outlook

  • End-Use Analysis: Healthcare Occupies Enviable Share

  • Regional Analysis

  • Competitive Scenario

  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

  • Asahi Kasei Corporation

  • Braskem SA

  • Celanese Corporation

  • CP Medical Corp.

  • Crown Plastics, Inc.

  • DowDuPont, Inc.

  • Emco Industrial Plastics, Inc.

  • Garland Manufacturing Company

  • Global Polymers

  • Honeywell International, Inc.

  • King Plastic Corporation

  • Koninklijke DSM NV

  • Korea Petrochemical Ind. Co., Ltd.

  • LyondellBasell Industries NV

  • Mitsui Chemicals, Inc.

  • Nitto Denko Corporation

  • Orthoplastics Ltd.

  • Quadrant AG

  • Redwood Plastics

  • Rochling Engineering Plastics Pvt., Ltd.

  • SABIC (Saudi Basic Industries Corporation)

  • Shandong Ningjin Xinxing Chemical Co., Ltd.

  • Shanghai Lianle Chemical Industry Science and Technology Co., Ltd.

  • Teijin Ltd.

  • Toyobo Co., Ltd.

3. MARKET TRENDS & DRIVERS

  • Healthcare: Largest End-Use Category

  • Introduction of Innovative UHMWPE Technologies Fuel Demand for Orthopedic Implants

  • Rise in Healthcare Expenditure to Drive Growth

  • Opportunities in Aerospace, Defense & Shipping Sectors

  • Aerospace

  • Defense

  • Shipping

  • Food & Beverage: A Growing Market

  • High Demand for UHMWPE in Mechanical Equipment Vertical

  • Other End-Uses

  • Manufacturing

  • Wires & Cables

  • Research & Developments Key to Market Growth

  • Select Important Innovations

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 40

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

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


Latest Stories

  • Alan Dershowitz says Texas lawsuit tossed by Supreme Court should tell Trump's allies that they 'can't count on the judiciary' to invalidate election results

    The attorney and Trump ally said the president needed a "perfect storm" of courts, governors, and state election officials to aid his cause.

  • 'External source' causes oil tanker blast off Saudi Arabia

    An oil tanker off Saudi Arabia's port city of Jiddah suffered an explosion early Monday after being hit by “an external source,” a shipping company said, suggesting another vessel has come under attack off the kingdom amid its yearslong war in Yemen. The apparent attack on the Singapore-flagged BW Rhine, which had been contracted by the trading arm of the kingdom's massive Saudi Arabian Oil Co., marks the fourth assault targeting Saudi energy infrastructure in a month. It also apparently shut down Jiddah port, the most-important shipping point for the kingdom.

  • Gunman shot dead by police at NYC church after concert; no one else wounded

    A gunman shouting "Kill me!" opened fire from the steps of New York City's Cathedral Church of St. John the Divine just after an outdoor choir performance there on Sunday, and was himself shot dead by police, according to police and a Reuters photographer at the scene. No one else was struck by gunfire thanks to quick action by three officers on the scene who confronted the suspect, New York City Police Commissioner Dermot Shea told reporters following the late-afternoon violence on Manhattan's Upper West Side. The shooting occurred outside the landmark cathedral for the Episcopal Diocese of New York, located at Amsterdam Avenue and West 112th Street, about 15 minutes after the conclusion of an outdoor choir performance on the church steps attended by about 200 people.

  • Israel announces full diplomatic relations with Bhutan

    Israel announced on Saturday that it is establishing full diplomatic relations with the relatively isolated Himalayan kingdom of Bhutan, the latest in a string of international deals designed to show Israel’s growing acceptance abroad. “The circle of recognition of Israel is widening,” said Israeli foreign minister, Gabi Ashkenazi. “The establishment of relations with the Kingdom of Bhutan will constitute a new stage in the deepening of Israel’s relations in Asia.” The agreement follows several years of secret contact between the two countries with the aim of establishing relations, according to a statement from Israel’s foreign ministry. Israeli Prime Minister Benjamin Netanyahu welcomed the deal, tweeting that it is an “additional fruit of the peace agreements”. The accord between the two countries does not appear to be linked to the US-backed Abraham accords, in which four Arab countries have agreed to normalise relations with the Jewish state since August. Mr Netanyahu added that Israel was in contact with more countries to normalise relations. Bhutan is a relatively isolated country and only maintains diplomatic relations with around 53 countries, which does not include the US, UK or France, who only maintain informal contact via India. With a population of around 800,000 people, the Kingdom of Bhutan is wedged between neighbouring giants, China and India. They have long relied on the latter for guidance on foreign and defence policy. Ron Malka, the Israeli ambassador to India said he signed the agreement with his Bhutanese counterpart, Maj Gen Vestop Namgyel, on Saturday night, calling the agreement a “historic day”. The joint statement on the deal said the key areas of cooperation would include economic, technological and agricultural development. “The ties between the peoples through cultural exchanges and tourism would also be further enhanced,” the statement added. Bhutan was closed off to tourists until 1970 and still strictly limits entry to the country with a $250 daily fee per visitor in high season

  • Man climbs on wing of Alaska Airlines plane departing Las Vegas airport, takes off shoes and socks

    Passengers were shocked to see a man climb aboard the wing of a departing Alaska Airlines flight and taking off his shoes. He was arrested.

  • Judge appointed by Trump heard his case to overturn Biden's win, wholly rejected it on the merits

    President Trump told Fox News' Brian Kilmeade on Saturday, in a clip broadcast Sunday, that no judges have had "the courage" to allow his lawyers and allies to argue his baseless claims that the election was "stolen," specifically criticizing the U.S. Supreme Court for declining to "go into the evidence" on his cases because of "little technicalities, like a thing called standing."> "They're winning these things on little technicalities, like a thing called standing." pic.twitter.com/fPdLMHX3bg> > — Aaron Rupar (@atrupar) December 13, 2020In fact, several courts have offered to hear pro-Trump lawyers argue their case, and U.S. District Judge Brett Ludwig in Wisconsin shot down the latest of those cases on Saturday. "A sitting president who did not prevail in his bid for reelection has asked for federal court help in setting aside the popular vote based on disputed issues of election administration, issues he plainly could have raised before the vote occurred," wrote Ludwig, a Trump appointee. "This court allowed the plaintiff the chance to make his case and he has lost on the merits. In his reply brief, plaintiff 'asks that the Rule of Law be followed.' It has been."The "most telling aspect" of Ludwig's ruling isn't that "the rejecting was done by a Trump-appointed judge" or "that it was done on the merits," Andrew McCarthy argues at National Review. It's when Ludwig notes that "on the morning of the hearing, the parties reached agreement on a stipulated set of facts," meaning "there was no actual disagreement between the Trump team and Wisconsin officials about the pertinent facts of the case."In other words, "there was no there there," McCarthy writes. "Despite telling the country for weeks that this was the most rigged election in history, the campaign didn't think it was worth calling a single witness. Despite having the opportunity of a hearing before a Trump appointee who was willing to give the campaign ample opportunity to prove its case, the campaign said, 'Never mind.'" And "this is not the first time the campaign ducked an opportunity to prove its claims of a stolen election in court," he adds. In Wisconsin, as in Pennsylvania and Michigan, "every time a court offers him an opportunity to establish by proof what he is promoting by Twitter, Team Trump folds." Read more about Ludwig's ruling at National Review.More stories from theweek.com Trump says he made an 'adjustment' to plan for early coronavirus vaccines at White House The Constitution has an answer for seditious members of Congress What will become of Trump's border wall?

  • Two Ohio girls who ran away from home together were located states apart - but only one of them was found safe and alive

    The two 15-year-olds were found separately in California and Nevada after they ran away with a 19-year-old boy and were reported missing since Thanksgiving.

  • First woman detained under India's controversial Love Jihad laws 'forced into miscarriage'

    The first woman detained under India's controversial new 'Love Jihad' laws has miscarried in custody, her family have told The Sunday Telegraph. Yesterday a distraught Muskan Jahan, 22, called her mother-in-law, from a government shelter where she is being held in the city of Moradabad in Uttar Pradesh, saying she had bled profusely and then lost her baby. Mrs Jahan believes her three-month-pregnant daughter-in-law was given an injection to abort the baby by staff because she converted from Hinduism to Islam and married a Muslim man. “The tyrannical world has said goodbye to this child before he was able to see the world,” said Mrs Jahan. Muskan's husband Rashid, 27, is being held in an unknown prison in Uttar Pradesh for allegedly coercing Muskan into converting from Hinduism to Islam by marrying her. Uttar Pradesh passed legislation last month designed to prevent marriages arranged to convert Hindu women into Muslims, a practice known as 'Love Jihad'. But critics say the law is a poorly disguised attempt by the Hindu nationalist ruling party of prime minister Narendra Modi to break up interfaith unions.

  • China warns of interference over Bloomberg journalist arrest

    International pressure is mounting after a Chinese Bloomberg journalist was detained by Beijing.

  • In 1st public remarks since pardon, Michael Flynn says courts won't decide next president

    In his first public remarks since President Trump pardoned him last month, retired Army Gen. Michael Flynn told Trump's supporters not to "get bent out of shape" after the Supreme Court tossed a Texas lawsuit seeking to overturn the results of the presidential election.Speaking at a pro-Trump demonstration from the steps of the Supreme Court in Washington, D.C., Flynn — who briefly served as Trump's national security adviser in 2017 before pleading guilty to lying to the FBI about his contacts with Russia's ambassador — echoed other Trump allies who have been pushing unfounded allegations that the president lost the November's election to President-elect Joe Biden because of widespread voter fraud. Like the others, including the president himself, Flynn didn't produce any actual evidence of fraud, but said "in this crucible moment of our time, we have to pray that truth triumphs over lies, justice triumphs over abuse and fraud, honesty triumphs over corruption. Our sacred honor triumphs over infamy."He added that there are "avenues" to keep challenging the results and that "courts aren't going to decide who the next president of the United States is going to be. We the people decide." He did not, however, elaborate on how that would work now that polls have been closed for more than a month.The Washington Post notes that after Flynn finished speaking "he was chased by shouting admirers." Read more at The Hill and The Washington Post.More stories from theweek.com Judge appointed by Trump heard his case to overturn Biden's win, wholly rejected it on the merits Trump says he made an 'adjustment' to plan for early coronavirus vaccines at White House The Constitution has an answer for seditious members of Congress

  • U.S. expects to have immunized 100 million against COVID-19 by end of March -Slaoui

    The United States expects to have immunized 100 million people with the coronavirus vaccine by the end of March, the chief adviser for the U.S. COVID-19 vaccine program said on Sunday. The first vaccine was authorized for emergency use by U.S. regulators on Friday night and began shipping on Sunday. "We would have immunized 100 million people by the first quarter of 2021," U.S. Operation Warp Speed chief adviser Dr. Moncef Slaoui said in an interview with Fox News Sunday.

  • A man was physically assaulted while supporting Democratic candidates at rally in Georgia, police say

    The attacker punched the rally-goer before ripping up his campaign sign for Georgia Democratic Senate candidates, local news reported.

  • Father who 'begged' GP for an MRI scan dies from cancer after Covid backlog

    A father-of-two who had to "beg" to get an MRI scan because of the coronavirus crisis has died of cancer, his family have revealed. Sherwin Hall, 27, from Leeds, West Yorkshire, went to hospital on March 23 suffering from leg pain but despite repeated visits he was only given a course of antibiotics for a misdiagnosis of prostatitis. After "begging for a scan" and 13 hospital visits in four weeks, Mr Hall was finally given an MRI on May 26 which revealed a 14cm malignant tumour in his pelvis and 30 small tumours on his lungs. Before his death, Mr Hall said: "I kept begging them in April and May to give me an MRI scan, but no-one would listen. "Both my GP and my consultant told me that I couldn't get one because scanning services were slowed down because of the coronavirus." His widow, LaTroya Hall, who is being supported by the Catch Up With Cancer Campaign, said: "I am devastated. I have lost the love of my life. "If Sherwin's cancer had been found earlier it is likely he would still be here today. He would want me to do everything I can to prevent other families suffering as we have. "It worries me that the Government and NHS leaders continue to say cancer services are back to normal; our family's experience has been that, even now, this is simply not the case.” Mr Hall's death comes as cancer patients, celebrities and NHS staff have launched a Christmas video as part of a campaign calling on the Government to boost cancer services "devastated" by the Covid-19 crisis. The Catch Up With Cancer campaign was launched by the parents of Macclesfield beautician Kelly Smith who died after her treatment for bowel cancer was stopped because of the pandemic. TV presenter Victoria Derbyshire said in the film: "I'm Victoria Derbyshire and all I want for Christmas is for people who've noticed changes in their body or noticed unexplained symptoms to go to the doctor's please." Cancer charity MacMillan says the backlog of cancer patients from the first lockdown is 50,000 while there might be double the number of patients from the second lockdown. An international study has suggested that for every four-week delay in treatment there is a 6 per cent to 13 per cent reduction in survival which could lead to the death of tens of thousands of cancer patients who could have survived under normal circumstances. A Department of Health and Social Care spokeswoman said: "Cancer diagnosis and treatment has remained a priority throughout the pandemic and we urge people to come forward if they have symptoms. "The NHS is working hard so as many people as possible get the help they need and more than 870,000 people were referred for cancer checks between March and August. "We've given £3 billion to support the NHS in tackling the impact of Covid, including £1 billion to provide extra checks, scans and operations."

  • More Inside AD100 Designer Pierre Yovanovitch’s History-Rich Parisian Apartment

    In the hands of Pierre Yovanovitch, the Paris apartment that iconic designer Jean-Michel Frank once called home gets a spectacular new lease on lifeOriginally Appeared on Architectural Digest

  • Alexandria Ocasio-Cortez calls Joe Biden's agenda 'a little hazy' and criticizes his Cabinet picks as lacking an 'overall vision'

    Joe Biden has promised to build the "most diverse cabinet based on race, color, based on gender that's ever existed in the United States of America."

  • Loeffler campaign: She had 'no idea' she posed with neo-Nazi

    The campaign of Georgia Republican U.S. Sen. Kelly Loeffler is disavowing a photo circulating on social media of her posing with a longtime white supremacist at a recent campaign event, with less than a month to go until the runoff elections that will determine the balance of the U.S. Senate. Loeffler did not know who Chester Doles was when she took a picture with him, her campaign spokesman Stephen Lawson said in a statement to The Associated Press on Sunday. The picture was taken Friday at a campaign event in Dawsonville, Georgia.

  • Watch the first U.S. COVID-19 vaccine shipments leave Pfizer's manufacturing plant

    The vaccine is on the road.The first American shipments of the COVID-19 vaccine developed by Pfizer and BioNTech, which was recently approved by the Food and Drug Administration for emergency use, went out Sunday, as UPS, Boyle, and FedEx trucks pulled out of a Pfizer manufacturing plant in Portage, Michigan, to deliver them to hundreds of sites across the country. The watershed moment marks the first phase of what should be the largest vaccination effort in American history, and it could be a major step toward ending the coronavirus pandemic.The initial shipments will be staggered, with around 3 million doses going to 145 sites Monday, 425 more sites Tuesday, and 66 sites Wednesday. Hospitals and other locations that are equipped to meet the ultra-cold storage requirements for the vaccine will be on the receiving end of those batches, The Associated Press reports, and all vaccination sites, as identified by each state, will reportedly get their doses within three weeks. Read more at The Associated Press and watch a truck pull out from the plant below. > Minutes ago, trucks filled with coronavirus vaccines departed the @pfizer facility in Portage, Mich., headed for distribution centers and airports. Crowds who gathered outside the facility cheered the departing @FedEx and @UPS trucks. https://t.co/F29rcw6WcV pic.twitter.com/ZsTG2h5vJI> > -- Detroit Free Press (@freep) December 13, 2020> Historic. mi06 https://t.co/5PU1h5ymwR> > -- Fred Upton WearYourMask (@RepFredUpton) December 13, 2020More stories from theweek.com Judge appointed by Trump heard his case to overturn Biden's win, wholly rejected it on the merits Trump says he made an 'adjustment' to plan for early coronavirus vaccines at White House The Constitution has an answer for seditious members of Congress

  • Three arrested after 21 migrants found in Spanish sweat shop

    Migrant workers were hidden behind large bundles of clothes at the factory in Murcia, southeastern Spain, which sold clothes to African countries, police video footage showed. A father and his two sons, who were not named, have been arrested. The monthly minimum wage in Spain is 1,050 euros. "The three detainees exploited the vulnerability of the migrants to submit them to tough labor conditions, among them wages of two euros per hour and a total absence of security or hygienic conditions," police said in a statement. The three suspects will appear in court on Saturday.

  • Philippines targets deal for 25 million doses of Sinovac COVID-19 vaccine

    The Philippines aims to finalise negotiations with Sinovac Biotech this week to acquire 25 million doses of the Chinese company's COVID-19 vaccine for delivery by March, a coronavirus taskforce official said on Monday. President Rodrigo Duterte, who has pursued warmer ties with Beijing, wants to inoculate all his country's 108 million people, preferably buying vaccines from Russia or China. Philippine officials had met with Sinovac representatives on Friday and there would be another meeting this week to finalise a deal, Carlito Galvez, the country's vaccine chief, said.

  • Trump does U-turn on plan to vaccinate senior White House officials early as vaccinations begin in US

    U.S. President Donald Trump suggested late Sunday that senior White House officials would wait longer for Covid-19 vaccines hours after media outlets reported senior officials were to receive doses within 10 days. Late Sunday night, Trump said on Twitter he had asked for an "adjustment" to be made to the plans to vaccinate White House officials. "People working in the White House should receive the vaccine somewhat later in the program, unless specifically necessary," Trump wrote, adding: "I am not scheduled to take the vaccine, but look forward to doing so at the appropriate time." Reuters reported earlier Sunday that Trump, Vice President Mike Pence and other top U.S. officials would be offered the newly approved Covid-19 vaccine beginning on Monday as part of a plan aimed at ensuring continuity of government, a source familiar with the plan said.