The global UHMW PE market was valued at USD 1,630 million in 2019 and is projected to reach USD 2,234 million by 2025, at a CAGR of 9.4% from 2020-2025.
Growth in the healthcare & medical industry due to the increasing use of UHMW PE for the manufacture of prosthetic implants is leading to a demand for UHMW PE. However, volatile prices of raw materials are expected to restrain the UHMW PE market.
Impact of COVID-19 outbreak on the UHMW PE market
The outbreak of COVID-19 has affected the market for UHMW PE, as most of the global companies operating in this market are based in the US and the European countries. These companies having their manufacturing units in China and other Asian countries are also severely affected. Therefore, disruptions in the supply chain have resulted in hampering production units due to a lack of raw materials and workforce. The market is estimated to witness negative growth until the second quarter of 2020. The lockdown in major countries due to this pandemic has also led to the shutdown of the production of plastic products.
Europe and North America aircraft manufacturers and lockdowns imposed by governments have led to significant losses to manufacturers in the region. This decrease in the production of aircraft has led to a decline in the demand for UHMW PE, which affects the growth of the market. The outbreak of COVID-19 has also affected the number of joint replacement surgeries. The large number of cases canceled because of COVID-19, which led to major financial losses for healthcare institutions and have impacted patients.
Sheets segment to grow at the highest CAGR in the UHMW PE market between 2020 and 2025
Sheets segment is projected to be the fastest growing form segment in the UHMW PE market during the forecast period. The increasing application of UHMW PE sheets has led to propel the market. UHMW PE has wide industrial applications in the aerospace, shipment, manufacturing, and bottling industries, owing to its resistance to wear and impact. UHMW PE sheets are used in conveyor belts in the food processing industry due to properties such as ease of machining, self-lubrication, and chemical stability. These properties are expected to drive the sheets segment.
Mechanical Equipment segment to lead the UHMW PE market between 2020 and 2025
UHMW PE is widely used in machine equipment across industries such as textiles, paper & pulp, foods & beverages, packaging, power, cement, chemical, minerals & metals, agriculture, and logistics & transportation. UHMW PE also helps to enhance surface lubricity, which leads to the free movement of machine components, thereby reducing jamming from dirt, grit, or static build-up.
The North American region is expected to lead the global UHMW PE market during the forecast period
By region, North America is estimated to account for the largest share of the global UHMW PE market in 2019, and the U.S. is estimated to account for the largest market share in 2019. The growth of the UHMW PE market is primarily driven by the significant demand for orthopedic implants and aircraft components in North America. An increase in the number of joint replacement surgeries for knees and hips coupled with an increase in the geriatric population is projected to fuel the demand for UHMW PE in the making of prosthetics. The high demand of UHMW PE in healthcare, military & defense, electronics, and other end-use industries drives the market in North America.
Key Topics Covered:
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.3.1 Markets Covered 1.3.2 Years Considered for the Study 1.4 Currency & Pricing 1.5 Limitations 1.6 Stakeholders
2 Research Methodology 2.1 Research Data 2.1 Research Data 2.1.1 Secondary Data 126.96.36.199 Key Data from Secondary Sources 2.1.2 Primary Data 188.8.131.52 Key Data from Primary Sources 184.108.40.206 Key Industry Insights 220.127.116.11 Breakdown of Primaries 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Global UHMW PE Market 4.2 Global UHMW PE Market, by Region 4.3 Global UHMW PE Market, by Form
5 Market Overview 5.1 Introduction 5.1.1 Drivers 18.104.22.168 Increasing Orthopedic Implants in European and American Countries 5.1.2 Restraints 22.214.171.124 Volatile Prices of Raw Materials 5.1.3 Opportunities 126.96.36.199 Compliance With Various Legal and Administrative Bodies 188.8.131.52 Increasing Demand for Ballistic Protection Products 5.2 Challenges 184.108.40.206 Development of Substitutes in Medical Applications 5.3 Porter's Five Forces Analysis 5.3.1 Threat of New Entrants 5.3.2 Bargaining Power of Buyers 5.3.3 Threat of Substitutes 5.3.4 Bargaining Power of Suppliers 5.3.5 Intensity of Competitive Rivalry 5.4 Macroeconomic Indicators 5.4.1 Demand Outlook for Plastic Industry 5.4.2 Trends and Forecast of Contribution of Polymer Industry to Gdp 5.5 Industry Outlook 5.6 North America is the Largest Market for the Healthcare & Medical Segment 5.7 Global UHMW PE Market: Emerging & Developed Countries
6 UHMW PE Market, by Form 6.1 Introduction 6.1.1 Sheets 6.1.2 Rods & Tubes 6.1.3 Fibers 6.1.4 Films 6.1.5 Tapes 6.1.6 Others
7 UHMW PE Market, by End-Use Industry 7.1 Introduction 7.2 Healthcare & Medical 7.3 Aerospace, Defense, & Shipping 7.4 Mechanical Equipment 7.5 Food & Beverages 7.6 Others
8 UHMW PE Market, by Region 8.1 Introduction 8.2 North America 8.2.1 U.S. 8.2.2 Canada 8.2.3 Mexico 8.3 Europe 8.3.1 Germany 8.3.2 France 8.3.3 Russia 8.3.4 U.K. 8.3.5 Italy 8.3.6 Belgium 8.3.7 Spain 8.3.8 Rest of Europe 8.4 Asia-Pacific 8.4.1 China 8.4.2 Japan 8.4.3 India 8.4.4 South East Asia 8.4.5 South Korea 8.4.6 Rest of Asia-Pacific 8.5 Middle East & Africa 8.5.1 Saudi Arabia 8.5.2 Uae 8.5.3 South Africa 8.5.4 Iran 8.5.5 Rest of Middle East & Africa 8.6 South America 8.6.1 Brazil 8.6.2 Argentina 8.6.3 Rest of South America
9 Competitive Landscape Dive, UHMW PE Market 9.1 Introduction 9.1.1 Dynamics 9.1.2 Innovators 9.1.3 Vanguards 9.1.4 Emerging 9.2 Overview 9.3 Product Offerings (For All 25 Players) 9.4 Business Strategy (For All 25 Players)
10 Competitive Landscape
11 Company Profiles 11.1 Braskem S.A. 11.1.1 Business Overview 11.1.2 Products & Services Offered 11.1.3 Recent Developments 11.1.4 Company Scorecard 11.1.5 Product Offering 11.1.6 Business Strategy 11.2 Celanese Corporation 11.3 Lyondellbasell Industries N.V. 11.4 Koninklijke Dsm N.V. 11.5 Asahi Kasei Corporation 11.6 Mitsui Chemicals, Inc. 11.7 Saudi Basic Industries Corporation 11.8 E. I. Du Pont De Nemours and Company 11.9 Honeywell International Inc. 11.10 Toyobo Co. Limited 11.11 Teijin Limited 11.12 Rochling Engineering Plastics Pvt. Ltd. 11.13 Quadrant Engineering Plastic Products 11.14 Crown Plastics Company, Inc 11.15 Redwood Plastics 11.16 King Plastic Corporation 11.17 Garland Manufacturing Company 11.18 Korea Petrochemical Ind. Co. Ltd 11.19 Orthoplastics 11.20 Cp Medical, Inc. 11.21 Emco Industrial Plastics, Inc. 11.22 Global Polymers 11.23 Shanghai Lianle Chemical Industry Science and Technology Co. Ltd 11.24 Nitto Denko Corporation 11.25 Shandong Ningjin Xinxing Chemical Co. Ltd.