The ultra-high molecular weight polyethylene (UHMW PE) market is estimated at USD 1.4 billion in 2020 and is projected to reach USD 2.2 billion by 2025, at a CAGR of 9.4% from 2020 to 2025. Ultra-High Molecular Weight Polyethylene (UHMW PE) is a simple linear background polyethylene possessing unique properties. Due to its ultra-high molecular density, it provides high abrasion resistance and impact strength in comparison to other engineering polymers. Apart from this, the material can also be optimized for more application specific requirements such as noise resistance, low coefficient of friction, excellent chemical resistance, self-lubrication, bio-compatibility, wear resistance, and electric insulation resistance.
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The UHMW PE market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific UHMW PE market in 2019. The Asia Pacific region is an emerging and lucrative market for UHMW PE, owing to industrial development and improving economic conditions. In addition, the growth of the medical industry in Asia Pacific is one of the reason leading to an increase in the demand for UHMW PE. UHMW PE is also being used in mechanical equipment. The presence of a number of mechanical component manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the UHMW PE market in the coming years.
Based on end-use industry, the healthcare & medical segment is expected to grow Increasing demand for UHMW PE by the healthcare & medical industry is expected to drive the market across regions. In the healthcare & medical industry, there is a high demand for UHMW PE for the manufacture of orthopedic implants and parts for medical devices due to properties such as high strength to weight ratio, self-lubrication, and impact resistance. The growing demand for orthopedic implants from developed countries is expected to fuel the growth of the UHMW PE market globally.
The decline in the age group of people undergoing knee and hip surgeries, the demand for UHMW PE has increased in the healthcare & medical industry. UHMW PE possesses the basic requirements for any medical implant material, which includes biological stability, biocompatibility, toughness, high creep resistance, low friction, and low wear.
Major companies such as Celanese Corporation (US), Koninklijke DSM N.V. (Netherlands), LyondellBasell Industries N.V. (Netherlands), Braskem S.A (Brazil), Asahi Kasei Corporation, (Japan) Du Pont De Nemours Inc. (US), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Mitsui Chemicals, Inc. (Japan), Honeywell International, Inc. (US), and Teijin Limited (Japan) and others are key players in the UHMW PE market. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, joint veture, and new product developments, which have helped them expand their businesses in untapped and potential markets.
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