The global ultra high molecular weight polyethylene market size is expected to reach US$3.85 bln by 2025 It is projected to register a CAGR of 13.8% during the forecast period, as per Reportlinker. Increasing demand of UHMWPE in the sheet and rod forms to meet a wide requirement from material handling and chemical industry is anticipated to drive the growth.
UHMWPE has witnessed increasing acceptance in material handling applications in the recent years owing to several favorable properties such as resistance to moisture, dirt, chemicals, and corrosion. It finds increasing acceptance in material handling applications owing to favorable properties such as resistance to moisture, dirt, chemicals, and corrosion.
U.S. emerged as leading regional segment in the Ultra High Molecular Weight Polyethylene (UHMWPE) market in 2018, accounting for over 80% of the total North America market share. The U.S. industrial sectors represented high potential for UHMWPE in 2018. Growing end-use industries such as food and beverage, chemical, and heavy transport vehicle are expected to steer product demand over the forecast period. Technological advancements have resulted in the widespread usage of UHMWPE in multiple applications. Leading industry participants are taking strong steps and investing in R&D initiatives for improving their product portfolio, reducing production and processing cost, and developing novel applications to meet the growing demand.
Industries such as chemical, logistics, and recreational equipment too have benefited from technological advances as lesser material weight, higher strength, lower friction coefficient, higher abrasion and impact resistance and higher flexibility result in better handling, lower operational costs, easier logistical operations, and better performance.
Further key findings from the report suggest:
• North America held the leading market share of over 40% in terms of volume in 2018. Presence of sophisticated healthcare infrastructure coupled with growing geriatric population, particularly in U.S. is expected to drive the regional growth
• Asia Pacific is expected to witness significant of around CAGR of 14.4% from 2019 to 2025 in terms of revenue. Increasing healthcare spending and growth of major end-use industries in China and India is expected to drive the regional market
• Global UHMWPE market is highly concentrated, with top three companies accounting for over 75% of total market. Frequent M&As are witnessed among these three companies which showcases significant competition in them
• Celanese Corporation, LyondellBasell and Braskem are the leading companies operating in the global Ultra High Molecular Weight Polyethylene (UHMWPE) market. Other companies include Quadrant; Crown Plastics Co. Inc.; Asahi Kasei Chemicals Corporation; A&C Plastics Inc.; and Mitsui Chemicals, Inc.