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Global UHMWPE Market to Grow at a CAGR of 12.3% During 2022-2027, Aided by the Increasing Demand from the Healthcare Sector

According to a new report by EMR titled, ‘Global UHMWPE Market Report and Forecast 2022-2027’, the market attained a value of more than USD 1.83 billion in 2021. The market is further expected to grow at a CAGR of 12.3% between 2022 and 2027 to reach above USD 3.67 billion by 2027.

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:

  • The market is segmented, based on product type, into medical grade and prosthetics, sheets, and rods, among others. 
  • The significant applications of the product include medical grade and prosthetics, filtration, fibres, batteries, additives, and membranes, among others.
  • Based on end use, the market can be segregated into healthcare, food and beverage, mechanical equipment, and aerospace and defence, among others.
  • Region-wise, the global market for UHMWPE can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for UHMWPE is being driven by the increasing number of ankle replacement procedures.
  • The growing use of UHMWPE in the production of lithium-ion battery is likely to propel the market growth.  
  • The market is expected to be further aided by the rising geriatric population globally. 
  • The growing demand for UHMWPE-based products including laboratory equipment, and food containers, among others, is expected to augment the growth of the market in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for UHMWPE for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the    product types, applications, end uses, and regions of UHMWPE.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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