CHICAGO, Aug. 15, 2024 /PRNewswire/ -- The report "UHMW PE Market by Form (Sheets, Rods & Tubes, Fibers, Films), Application (Prosthetics, Filtration, Batteries, Fabrics), End-Use Industry (Aerospace, Defense, Shipping, Healthcare & Medical, Mechanical Equipment), and Region - Global Forecast to 2029", size is projected to grow from USD 2.2 billion in 2024 to USD 3.4 billion by 2029, registering a CAGR of 9.5% during the forecast period. The growth of the UHMW PE market is fuelled by its various reasons such as its characteristics like low moisture absorption, enhanced durability & low friction, its environmental advantages and regulatory considerations like being FDA (Food & Drug Administration) approved, making it suitable for human consumption as well.
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220 - Tables
52 - Figures
180 - Pages
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Filtration, by application, is expected to be the second largest segment during the forecast period.
UHMW PE is widely used for filtration, they are made in microporous material having tiny holes, making it suitable for the process of filtration. Tiny holes are helpful in separation of liquids and gases by trapping large particles in it. UHMW PE changes into a viscoelastic melt when heated above its crystalline melting point. In this process, the external form of the polymer particles is substantially retained, and only the surface of the individual polymer particles fuses at the contact points, forming a porous network. High tensile strength, chemical resistance and low moisture absorption make it an ideal choice for the filtration.
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Healthcare & Medical is anticipated to be the second largest segment, by end-use industry, during the forecast period.
UHMW PE has physical and mechanical properties such as high abrasion resistance, impact toughness, biocompatibility and corrosion & chemical resistance. It is also resistant to cyclic fatigue and radiation. These properties make UHMW PE a preferred choice in manufacturing artificial implants. The rise in demand for UHMW PE is seen due to rise in aging population, chronic disease and technological advancements in medical industry. UHMW PE is also engineered to be used in cardiovascular and orthopedic surgery procedures. The suture is prepared from a UHMW PE material that is strong and durable. Healthcare industry prioritizes human safety and comfort in long run, which increases the demand for durable UHMW PE.
North America is expected to be the fastest-growing region in the global UHMW PE market, by region, during the forecast period.
North America is one of the largest markets globally and provides significant opportunities for UHMW PE manufacturers. This region includes the Countries such as US, Canada and Mexico. Several factors, including rise in demand for orthopedic implant, aircraft components, rising adoption of lightweight materials, high investment of government for infrastructure and the growing population, are expected to drive the UHMW PE market in this region.
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Key Market Players
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the UHMW PE market. These are as Braskem (Brazil), Celanese Corporation (US), LyondellBasell Industries N.V. (Netherlands), Dsm-firmenich (Netherlands), Asahi Kasei Corporation (Japan), Avient Corporation (US), Mitsui Chemicals (Japan), Korea Petrochemical Ind Co., Ltd (South Korea), Teijin Limited (Japan), and Honeywell International Inc. (US) and many others.
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