UHMWPE Market is expected to witness highest improvements over the forecast period

Global ultra high molecular weight polyethylene (UHMWPE) market is expected to reach USD 2.60 billion by 2022, according to a new study by Grand View Research, Inc. Superior properties such as high impact strength, low friction coefficient, high flexibility and low reactivity to chemicals & additives makes it favorable for several applications across various industries. Surge in demand for joint replacement surgeries and PPE market is also expected to drive the global industry. Government initiatives to provide superior personal protective equipment and anti-ballistic protection to military and law enforcement are expected to develop the global market. High price compared to other polymers is expected to remain a key challenge for its penetration.

Medical & prosthetics was the major application and accounted for over 28% of total UHMWPE market volume in 2014. Increasing geriatric population base in the U.S., Japan, most parts of Europe has increased joint replacement surgeries in these regions. Development of novel applications is expected to increase scope for the industry participants. Medical & prosthetics is also expected to witness highest gains over the forecast period.

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Further key findings from the study suggest:

• Global UHMWPE market demand exceeded 180 kilo tons in 2014 and is expected to be reach 410 kilo tons by 2022, growing at a CAGR of 10.9% from 2015 to 2022.
• North America was the leading regional market with demand share estimated at over 40% in 2014. Presence of sophisticated healthcare infrastructure coupled with growing geriatric population base particularly in the U.S. is expected to drive the regional market.
• Asia Pacific is expected to witness significant gains in the market size over the forecast period. The region is expected to grow at an estimated CAGR of 11.7% from 20145 to 2022. Increasing healthcare spending and growth of major end-use industries in China and India is expected to drive the regional market.
• The global UHMWPE industry is highly concentrated with top three companies accounting for over 75% of total market. Frequent M&As are witnessed among these three companies which shows significant competition in them. Celanese Corporation, LyondellBasell and Braskem are the leading companies operating in the global market. Other companies operating in the market include Quadrant, Crown Plastics Co. Inc, Asahi Kasei Chemicals Corporation, A&C Plastics Inc and Mitsui Chemicals Inc.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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