The Ultra-High
Molecular Weight Polyethylene Market is likely to portray an upward trend owing
to developments in the healthcare industry. Global healthcare expenditure is
likely to increase from around USD 7 trillion in 2017 to more than USD 10
trillion by 2022.
This growth is
driven by various factors like rising population, increasing public &
private investments, technological advancements, improving disposable income in
emerging markets, etc. Such growth in the healthcare sector will significantly
increase demand for ultra-high molecular weight polyethylene. This is owing to
the product usage in various medical applications like hip & spine
implants, joint replacements, surgical sutures, etc.
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High-modulus
polyethylene is a unique engineered thermoplastic which possess supreme physical
& mechanical properties like corrosion resistance, wear resistant,
excellent strength in high temperature, chemical resistance, etc. These
qualities play a vital role in the defense sector.
Its high energy
absorption capacity and stress resistance makes it suitable to be used in
ballistic protection applications like protection panels, insert plates,
helmets etc. Rising defense expenditure in U.S. will significantly increase the
product demand in near future.
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On the basis of
grade, the ultra-high molecular weight polyethylene market is segmented into
virgin, reprocessed, antistatic, FDA compliant, flame retardant, and others
which include oil filled, UV resistant, etc. Virgin grade ultra-high molecular
weight polyethylene is likely to attain a significant share owing to its
excellent strength and machinability. This grade is used in various
applications like cutting boards, slides, rollers, metal detector troughs,
trimmer lugs, etc. Reprocessed grade is a blend of recycled and virgin
ultra-high molecular weight polyethylene. These are used in packaging &
material handling applications. The grades which are FDA approved can be used
in medical industry.
Industrial
segment is likely to grow at a significant CAGR owing to the product usage in
various material handling applications. Its good abrasion resistance, sliding
performance and flame resistant makes it suitable to be used in packaging
machinery parts, conveyor systems, guide rails, food processing machinery parts,
etc. Aerospace is another significant end-user which uses high-modulus
polyethylene in various interior applications. Its superior mechanical
features, cost-effectiveness and light weight are some reasons behind its
rising use in the industry. The global aircraft fleet is likely to increase
from around 25,000 in 2018 to over 50,000 aircrafts by 2038. Such rise in
aircraft production would increase product demand in the coming years.
Asia Pacific is
likely to portray a significant growth rate in the coming years owing to
developments in its end-user industries like automotive, industrial and
electronics. China has become one of the leading automotive manufacturers which
accounted for about 27 million motor vehicles in 2018.
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Major players
in the ultra-high molecular weight polyethylene market are Honeywell
International, Celanese Corporation, Royal DSM, Teijin Aramid B.V., Mitsui
Chemicals, Inc., etc.
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