The global ultra-high molecular weight polyethylene (UHMW PE) market size is estimated to be USD 1.8 billion in 2022 and is projected to reach USD 2.8 billion by 2027, at a CAGR of 9.1% from 2022 to 2027. The increasing demand from aerospace, defense & shipping industry is expected to drive the market for UHMW PE.
Asia Pacific is projected to be the fastest-growing segment between 2022 and 2027. China and Japan together accounted for the major share of the Asia Pacific UHMW PE market in 2022. The Asia Pacific region is emerging as a lucrative market for UHMW PE, owing to fast industrial development and improving economic conditions. In addition, the growth of the medical industry, mechanical equipment industry, presence of a various mechanical component manufacturing plants in China, and rapid industrialization in Asia Pacific are expected to drive the UHMW PE market.
The UHMW PE market is dominated by few globally established players such as Celanese Corporation (US), Royal DSM N.V. (Netherlands), LyondellBasell Industries N.V. (Netherlands), Braskem S.A (Brazil), Asahi Kasei Corporation (Japan), Korea Petrochemical Ind. Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Honeywell International, Inc. (US), and others are key players in the UHMW PE market. These players have adopted various growth strategies, such as investments & expansions, partnerships, agreements & collaborations, and new product developments to increase their presence in global market.
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Celanese Corporation is leading provider of UHMW PE and operates through the following segments: Engineered Materials, Acetate Tow, and Acetyl Chain. The company offers UHMW PE under its engineered material segment which includes the engineered materials business, food ingredients business, and certain strategic affiliates. . The company has a presence in the US, the Netherlands, Germany, China, India, and Japan. The company majorly focuses on investment & expansion to expand their business geographically.
Royal DSM N.V. is involved in the business of nutritional and pharmaceutical ingredients and industrial chemicals. The business segments in which operate include nutrition, materials, innovation center, and corporate activities. The company offers UHMW PE under the materials segment. The performance materials segment produces synthetic fibers, engineering plastics, and resins used in coatings and includes engineering plastics, DSM Dyneema, and DSM Resins. The company has a presence in Europe, Asia Pacific, the Middle East & Africa, and South America, with its production units in Austria, Grenzach, Jiangshan, Maroussi, Sissel, and Village-Neuf.
Braskem S.A is a major player in the petrochemicals market, owing to its wide product portfolio, and serviceability. It has a global presence, with 41 industrial units spread over Brazil, Mexico, the US, and Europe, and 14 business offices worldwide. The company adopts several growth strategies such as partnership and investment & expansion to increase its international market reach.
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