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The UHMWPE industry is being driven by the increasing demand for UHMWPE in the production of medical implants. The rising demand for ankle replacement procedures in the healthcare industry is expected to support the market growth in the forecast years. This trend is further being fuelled by the rising geriatric population worldwide. The demand for UHMWPE is expected to surge with the growing ankle-related injuries among sportsmen and military personnel. In this regard, the UHMWPE mobile bearing is an important component in an artificial ankle system. Furthermore, the rapid technological advancements in the development of advanced medical implant solutions are expected to bolster the market growth in the coming years. Moreover, UHMWPE is widely used in the production of lithium-ion battery, owing to its excellent chemical stability, good corrosion resistance, high-tensile strength, and economic feasibility. This is expected to support the market growth in the forecast years.
In October 2020, Celanese Corporation (NYSE: CE), which is a global chemical and speciality materials company, took a decision to add a new GUR ultra-high molecular weight polyethylene production line at its Bishop, Texas manufacturing facility to bolster the growth of its high-value GUR engineering materials portfolio. GUR UHMWPE offers outstanding abrasion resistance, superior impact resistance, non-sticking and self-lubricating properties, even at extremely low temperatures. Such developments are expected to add to the growth of the UHMWPE industry in the coming years.
In terms of region, the Asia Pacific is anticipated to account for a significant share in the market, owing to the thriving healthcare and medical infrastructure, which is propelling the demand for UHMWPE in the region. The market is anticipated to be augmented by the growing demand for hip and knee surgeries. Over the forecast period, the market is expected to be aided by the growing adoption of electronic-vehicles in regions like China, South Korea, and Japan, with the rising demand for lithium-ion batteries.
Market Breakup by Product Type, Application, End Use, and Region:
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The major players in the global UHMWPE market are Mitsubishi Chemical Advanced Materials Group, Celanese Corporation, LyondellBasell Industries Holdings B.V., Koninklijke Dsm N.V., China Petrochemical Corporation, Shanghai Lianle Chemical Industry Science and Technology Co. Ltd, and Asahi Kasei Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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