13-Feb-17 Global ultra-high molecular weight polyethylene (UHMWPE) market is expected to reach US$2.10 bln by 2022, according to Market Research Future. Medical & prosthetics was the major application and accounted for over 25% of total ultra-high molecular weight polyethylene market volume in 2015 and expected to grow at the CAGR of 11.5% from 2016 to 2022. Demand in fiber application is anticipated to increase at CAGR of 11.3% from 2016 to 2022.
Properties of ultra-high molecular weight polyethylene such as high effect quality, low grinding coefficient, high adaptability and low reactivity to chemicals & additives makes it favorable for various applications across several industries. Increasing demand for joint replacement surgeries and PPE market is also expected to drive the global industry. Government initiatives to provide superior personal protective equipment and anti-ballistic protection to military and law enforcement are expected to develop the global market of ultra-high molecular weight polyethylene. High price of this market as compared to other polymers is expected to remain a key challenge for growth of the same.
Companies such Cleanese Corporation, Royal Dsm, Braskem, Honeywell International, Toyobo Co. Ltd., Mitsui Chemicals, Lyondellbasell, Asahi Kasei Advanced Corporation, Argosy International Inc., and Teijin Group have adopted expansion strategies to increase their presence in the market. Most of the companies have invested in R&D amenities to discover advancements and innovative special trading that are eco-friendly, and extremely sensitive to surrounding with less utilization of expensive & harmful raw materials. The Global Ultra-High-Molecular-Weight Polyethylene Market is majorly segmented on the basis of application. Based on the Application the market is segmented into Medical grade & prosthetics, Filtration, Batteries, Fibers, Additives, Membranes and Others.
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