"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global ultra-high molecular weight polyethylene market size was USD 1,691.2 million in 2019 and is projected to reach USD 3,319.0 million by 2027, exhibiting a CAGR of 10.1% during the forecast period.
Ultra-high molecular weight polyethylene (UHMWPE) is a semi-crystalline polymer that offers high resistance to wear, abrasion, corrosion, concentrated acids, and alkalis. It has superior impact strength amongst all the thermoplastics and is non-sticking and self-lubricating. The material’s versatile properties, such as low friction, durability, and chemical resistance, enable its usage in several industrial applications. Ultra-high molecular weight polyethylene is observing rising demand from aerospace & defense and automotive industries for its advanced properties compared to other polymers. Additionally, the increasing preference for polymer-based implants in multiple medical surgeries is expected to boost the market growth.
Closure of Manufacturing Activities to Reduce UHMWPE’s Demand
The COVID-19 pandemic has affected the UHMWPE market negatively as the lockdowns imposed by governments led to the closure of manufacturing activities and created disruptions in the supply chain of the product. The lack of raw materials and workforce hampered the production units of manufacturers from electronics and mechanical industries. Additionally, lockdown in major regions including North America and Europe due to the pandemic has led to the decline in the product demand from aircraft and automotive manufacturers. The pandemic resulted in medical surgeries for joint replacement as many surgeries were postponed. This reduced the usage of ultra-high molecular weight polyethylene for medical applications across the globe.
Request a Free sample to learn more about this report.
Increasing Demand for Medical Implants to Provide Growth Opportunities
Ultra-high molecular weight polyethylene is increasingly used in the medical industry owing to its high biocompatibility, wear-resistance, and ductility. Various research activities have been conducted to develop UHMWPE with improvised tribological and mechanical performance, thereby providing durable implants for patients. Several companies have introduced medical-grade products for use in biomedical implants. For instance, DSM provides medical grade ultra-high molecular weight polyethylene fiber named Dyneema Purity fiber that meets ASTM and ISO standards. This fiber is 15 times stronger than steel.
Additionally, technological advancements have led to the development of better prosthetics with a longer lifespan that offers more comfort to patients. Moreover, medical surgeries for joint replacement in hips and knees have observed an uptrend in recent years. The increasing geriatric population in countries including the U.S., Germany, and Japan, is expected to drive the demand during the forecast period. Polyethylene with ultra-high molecular weight is one of the most preferred polymers for use in the production of medical implants.
Rising Demand from Aerospace & Defense and Automotive Industries to Drive Ultra-High Molecular Weight Polyethylene Market Growth
Increasing investments and initiatives from governments of various countries across the globe to provide their military with superior protective gear are expected to drive the market over the forecast period. Protective gears, such as ballistic protection products including shields and plate inserts, bulletproof vests, combat helmets, and protective armor, are essential to support the movement of soldiers. Government programs, such as the Soldier Protection System, will boost the product demand from the aerospace & defense industry.
Additionally, UHMWPE is a stronger and safer material to replace steel in wire ropes that are used in the aerospace & defense industry. In the automobile industry, ultra-high molecular weight polyethylene is used in supportive belts, car seat parts, and truck shock spacers owing to its self-lubricating and vibration reduction properties. According to the Economist Intelligence Unit Limited, the new car and commercial-vehicle sales are expected to rise by 15% and 16% in 2021, respectively. Hence, the rapidly growing automotive industry is expected to drive the market during the forecast period.
Surging Cost of Ultra-high Molecular Weight Polyethylene to Hinder Growth
UHMWPE is an advanced polymer having superior properties compared to conventional metals and polymers such as steel, polypropylene, and polyethylene. These properties include higher impact strength, low friction coefficient, remarkable energy absorption capacity, and wear and abrasion resistance. However, these advantageous properties increase the cost of UHMWPE and are expected to hamper its growth in the upcoming years. Also, the occurrence of COVID-19 has undesirably reduced the demand for the product from several industries due to restrictions in supply and transportation activities and delayed industrial productivity.
Sheets & Films Segment Accounted for Largest Market Share in 2019
Based on the form, the market is segmented into sheets & films, rods & tubes, fibers, tapes, and others. The sheets & films segment held the largest market share in 2019. This is attributed to the extensive adoption of ultra-high molecular weight polyethylene as sheets & films in bunkers, dump trucks, truck loading platforms, chutes, lining silos, and rail wagons. The durable properties of this material, such as resistance to abrasion, heat, and chemicals, are anticipated to drive the market growth.
The rising consumption of UHMWPE in the form of fibers for the manufacturing of medical products, electric batteries, electronic components, and defense products is expected to drive the market during the forecast period. The increasing preference for rods made of polyethylene having ultra-high molecular weight in vehicles and heavy industrial applications will provide growth opportunities for the market during the forecast period. In addition, the ability of the material to ease the movement of conveying systems will surge the demand from tape form.
To know how our report can help streamline your business, Speak to Analyst
Medical Industry to Register Fastest Growth during the Forecast Period
In terms of the end-use industry, the market is segmented into automotive, aerospace & defense, medical, chemical, electronics, and others. The medical industry accounted for the largest share in 2019 and is estimated to register the fastest growth during the forecast period. In the medical industry, UHMWPE is used primarily for the fabrication of cardiovascular and orthopedic implants owing to its properties such as biocompatibility, biological stability, wear resistance, high creep resistance, and low friction. Increasing healthcare investments, advancement in medical technologies, and rising aging population are the factors leading to the product demand in the medical industry.
In the automotive industry, this product is majorly used in the manufacturing of batteries, seals, valves, and linings. The rising demand for lightweight, noise-reducing, and impact-absorbing materials from the automotive industry will surge the product demand during the forecast period. The increasing demand for ballistic protection products, frag knits, explosion-resistant blankets, and defense products is anticipated to drive the demand in the aerospace & defense industry. Efficient use of the product infiltration activities, conveying systems, chemical tanks, and lining hoppers and chutes to protect metal surfaces will drive the product consumption in the chemical industry.
North America Ultra-high Molecular Weight Polyethylene Market Size, 2019 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
The market size in North America stood at USD 646.6 million in 2019. The region accounted for the largest share and is expected to retain its position throughout the forecast period owing to the growing automotive, medical, and electronics industries in the region. The U.S. is estimated to remain the largest consumer in the region due to the high adoption of electric vehicles in the country. According to the U.S. International Trade Commission, EV sales increased by 67%, between 2017 and 2019. The increasing sales of electric vehicles (EVs) led to the demand for lithium-ion batteries, which depend on ultra-high molecular weight polyethylene for their functioning.
The market in Europe is characterized by the increasing demand for impact-resistant sheets & films and fibers from aerospace & defense, medical, and automotive industries in the region. Ultra-high molecular weight polyethylene is preferred in various applications, such as ballistic protection products, guide rails, conveying systems, and linings for rail wagons and trucks, in the region. Asia Pacific is expected to register the highest growth during the forecast timeline owing to the rising government initiatives and investments in the development of medical, and aerospace & defense industries. Additionally, the growing chemical and electronics industries in China and India will support the market growth in the region.
To know how our report can help streamline your business, Speak to Analyst
The use of polyethylene with ultra-high molecular weight in automotive and defense industries owing to its properties, such as impact resistance, and corrosion inhibition, will boost the market growth in the Middle East & Africa. The market growth in Latin America is associated with the rising demand for fibers, sheets & films, and tapes from the electronics and automotive industries.
Serving Numerous Industries to Increase the Presence of Key Players in the Market
Key companies in the UHMWPE market have their presence mainly in the U.S. and some countries of Europe. They have extended their manufacturing facilities in China and other Asian countries due to the high product demand from widespread industries in these countries. These players are involved in research & development activities for developing customized products for specific applications. They are implementing expansion and new product development strategies to increase their presence in the market and efficiently serve their customers from different end-use industries.
An Infographic Representation of Ultra High Molecular Weight Polyethylene (UHMWPE) Market
To get information on various segments, share your queries with us
The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, competitive landscape, product forms, and end-use industries of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.
Volume (Kilotons); Value (USD Million)
By Form; By End-use Industry; and By Geography
By End-use Industry
Fortune Business Insights says that the global market size was USD 1,691.2 million in 2019 and is projected to reach USD 3,319.0 million by 2027.
In 2019, the North America market value stood at USD 646.6 million.
Registering a CAGR of 10.1%, the market will exhibit steady growth in the forecast period (2020-2027).
The sheets & films segment is expected to lead this market during the forecast period.
The rising demand from the aerospace & defense and automotive industry is a major factor driving the growth of the market.
Celanese Corporation and LyondellBasell Industries N.V. are the major players in the global market.
North America held the highest share in the market in 2019.
The growing demand for medical implants along with the rising electronics industry is expected to drive product adoption.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry