PUNE, India, July 09, 2021 (GLOBE NEWSWIRE) -- The Global Ultra High Molecular Weight Polyethylene Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Ultra-high molecular weight polyethylene market size was estimated to be US$ 1.85 billion in 2020 and is expected to reach US$ 5 billion by 2031 at a CAGR of 9.6%. Ultra-High Molecular Weight Polyethylene also known as Ultra High Molecular Weight Polyethylene is a semi-crystalline thermoplastic material, with an uninterrupted use temperature range of up to 180° F (82° C). It is classified as a manufacturing material and extends a unique assemblage of wear and corrosion opposition, a low-friction exterior, and high impinging strength. Ultra-High Molecular Weight Polyethylene exhibits extraordinarily little moisture soaking up and holds back key physical properties at temperatures as low as minus-22° F (minus-30° C). It displays very acceptable electrical insulating properties, bearable mechanical durability and stiffness, and exemplary machinability.
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It is an excellent general-purpose material which offers conductive properties that make it adequate in a tremendous scope of applications, peculiarly food handling solutions. Several classes of this versatile material, including bearing grade, ceramic filled, FDA, virgin, glass filled, reprocessed, oil filled, static dissipative, UV tolerant, anti-skid, flame retardant, high temperature, and metal noticeable.
Moreover, it is featherweight & self-lubricating along with low friction coefficient, high brunt strength, astounding energy soaking up competence, & a broad service temperature range.
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There is escalation in demand from discrete applications, such as medical grade & prosthetics, fibers, filtration, and membranes, additives, batteries are importantly driving the market growth. In extension, developing product appeal from armor applications due to its remarkable visceral properties, such as defiance to chemicals, humidity, deterioration, & muck, as equaled to alternative polymers is assumed to importantly drive the market over the forecast period.
Ultra-high molecular weight polyethylene fibers devote to active orthopedic implants, which encounter use in long-term applications, such as joint replacement and repair, necessitating first-class mechanical performance.
Ultra-High Molecular Weight Polyethylene fibers are soft, and they assist in reducing the incursive nature of implantable accessories, along with tissue annoyance and rubor. This advances patient conformity, contentment, and expedites recovery. In injury cases, Ultra High Molecular Weight Polyethylene fiber cable helps forestall bone impairment and supplies superior strength, along with low improver.
Major driving factors of Ultra High Molecular Weight Polyethylene Market
Upping credence can be imputed to its approbative physical and chemical properties, such as advanced flexibleness as equated to metals and superior strength. Technological furtherance has resulted in prosthetics holding a longer operational life and being more well-situated for the users. Over the recent years, market associates have taken progressive steps to process Ultra High Molecular Weight Polyethylene and meliorate its properties. The product is majorly utilized for hip, knee, and spine implants.
Change magnitude for demand from the medical commercial enterprise will speed up the market postulation. Surfacing orthopedic implants will also impact the development of the market. Increased utilization of Ultra High Molecular Weight Polyethylene as personal protective equipment in the Department of Defense will also intensify the market. Growth in the end- user corporation is also anticipated to drive the market growth.
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Technological furtherance and improvement have also heightened the application of Ultra High Molecular Weight Polyethylene which is also evaluated to drive market. Altering investment in the R&D for amended product will also motivate the market in the forecast period of 2020- 2030.
The leading market segments of Global Ultra High Molecular Weight Polyethylene Market
The fiber practical application segment is foretold to shape up at a considerable growth rate over the forecast period. The product is employed in the form of fibers for diverse applications, which consist of protective armor, cut resistance gloves, ropes & fishing traps, sports & leisure goods, and sling & plaits. A spate in demand for high perseverance multifilament polyethylene yarns is anticipated to contribute to the general demand over the forecast period.
Asia Pacific is anticipated to boom at the fastest CAGR over the forecast period, grounded on revenue, owing to the existence of many end users in the region. China seems to predominate the Asia Pacific market, in terms of both dividend and magnitude.
The market in China is forestalled to experience momentous growth over the forecast period incurring to rising postulation for the product in applications, reckoning protective armor, wear and gear, nets, ropes, and medical devices.
In extension, accelerative acceptation of medical-grade ULTRA HIGH MOLECULAR WEIGHT POLYETHYLENE fiber in cardiovascular, orthopedic, and trauma applications, such as implantable cardiac defibrillators, Cardiac Resynchronization Therapy (CRT) devices, vascular closure devices, central venous catheters, cranial plates, and scaffolds, is expected to drive the market ontogeny in the forthcoming years.
As articulated by Stockholm International Peace Research Institute (SIPRI), China reported for considerable share in the global military disbursement in 2019 and listed second after U.S. Thus, advanced disbursement on the military and defense sector is supplying the demand for protective armor, which, in turn, is foreseen to produce compelling possibilities for the manufacturing business of Ultra High Molecular Weight Polyethylene fibers.
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The key players of the Global Ultra High Molecular Weight Polyethylene Market are
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.
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