Ultra High Molecular Weight Polyethylene Market - Forecast(2023 - 2028)

Report Code: CMR 49805 Report Format: PDF + Excel

Ultra High Molecular Weight Polyethylene Market Overview

Ultra High Molecular Weight Polyethylene Market size is estimated to reach US$3.1 billion by 2027, after growing at a CAGR of 10.1% during the forecast period 2022-2027. Ultra High Molecular Weight Polyethylene(UHMWP) also known as high-modulus polyethylene belongs to the thermoplastic polyethylene family. The increasing use of UHWMPE in the manufacture of lithium-ion battery separators is expected to provide a lucrative opportunity for market participants. Rising product demand from defence applications, as well as its superior physical properties compared to other polymers, are expected to drive market growth during the forecast period. For instance, According to the Military of Defence, UK, in 2020/21, the government spend £42.4 billion on defense, a £2.5 billion increase over the previous year. The covid-19 pandemic majorly impacted the Ultra High Molecular Weight Polyethylene Market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as the military and others, Ultra High Molecular Weight Polyethylene is anticipated to grow rapidly during the forecast period.

Ultra High Molecular Weight Polyethylene Market Report Coverage

The Ultra High Molecular Weight Polyethylene Market Report – Forecast (2022-2027) by IndustryARC, covers an in-depth analysis of the following segments in the Ultra High Molecular Weight Polyethylene industry.

By Form: Sheet, Rods, Tubes, Fibers, Films, Tapes and Others.
By Application: Filtration, Batteries, Additives, Medical Grade & Prosthetics, Food Processing Machinery Parts, Automotive Winching, Membranes and Others.
By End-use Industry: Transportation (Automotive, Aerospace, Locomotive and Marine), Medical & Healthcare, Food & Beverages, Oil & Gas, Water Treatment, Textile Industry, Chemical & Pharmaceutical, Electrical & Electronics and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (the Middle East and Africa).

Key takeaways

  • Asia-Pacific dominates the Ultra High Molecular Weight Polyethylene Market size. The increase in demand for applications such as filtration and others is the main factor driving the region's growth.
  • One of the primary factors contributing to the Ultra High Molecular Weight Polyethylene Market's favourable outlook is significant growth in the automotive industry around the world.
  • Growing demand from the medical sector and increasing applications for high-performance polymers are driving the market growth.
  • However, fluctuation in raw materials is limiting the Ultra High Molecular Weight Polyethylene industry growth.

Figure: Ultra High Molecular Weight Polyethylene Market Revenue Share by Geography, 2021 (%)
Ultra High Molecular Weight Polyethylene Market
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Ultra High Molecular Weight Polyethylene Market Segment Analysis – by Application

The Medical Grade & Prosthetics held a significant share in the Ultra High Molecular Weight Polyethylene Market share in 2021 and is projected to grow at a CAGR of 9.2% during the forecast period 2022-2027. UHMWPE belongs to thermoplastic polyethylene and has been regarded as one of the most preferred materials for the manufacture of medical implants. It has been relied on because of its high resistance to wear and abrasion, as well as its excellent durability. These properties have increased product demand in medical applications in recent years. With the rise in the demand for Ultra High Molecular Weight Polyethylene across the globe, the demand for Ultra High Molecular Weight Polyethylene is anticipated to rise for various applications, which is projected to boost the market growth during the forecast period.

Ultra High Molecular Weight Polyethylene Market Segment Analysis – by End-use Industry

Transportation held a significant share in the Ultra High Molecular Weight Polyethylene Market share in 2021 and is projected to grow at a CAGR of 9.6% during the forecast period 2022-2027. Ultra High Molecular Weight Polyethylene or high-modulus polyethylene is used in the plastic injection molding automotive parts as the friction part of the axle sleeve, sliding sleeve and lining material equipment. According to the Energy Information Administration (EIA), by 2035, there will be 1.7 million automobiles worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. With the rise in automotive production across the globe, the demand for Ultra High Molecular Weight Polyethylene is anticipated to rise for various applications, which is projected to boost the Ultra High Molecular Weight Polyethylene industry's growth in the automotive industry during the forecast period.

Ultra High Molecular Weight Polyethylene Market Segment Analysis – by Geography

The Asia-Pacific held a significant share in the Ultra High Molecular Weight Polyethylene Market share in 2021 and is projected to grow at a CAGR of 10.9% during the forecast period 2022-2027. The flourishing growth of Ultra High Molecular Weight Polyethylene is influenced by its major applications across major industries, along with growing development in automotive production and developing the base for Ultra High Molecular Weight Polyethylene in APAC. According to India Brand Equity Foundation, in 2021, the Indian passenger car market was valued at US$ 32.70 billion and it is expected to grow to US$ 54.84 billion by 2027. According to India Brand Equity Foundation, by 2030, the Indian aerospace and defense (A&D) market is expected to reach US$ 70 billion. According to International Trade Administration, China remains the world's largest vehicle market in terms of both annual sales and manufacturing output, with domestic output expected to reach 35 million vehicles by 2025. Thus, the growth of Ultra High Molecular Weight Polyethylene in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.

Ultra High Molecular Weight Polyethylene Market Drivers

Bolstering Growth of the Electric Vehicles:

Ultra High Molecular Weight Polyethylene or high-modulus polyethylene extends the range of electric vehicles by improving vehicle efficiency. Higher demand for lightweight electric vehicles is likely to contribute to the products' rising popularity. According to the International Energy Agency (IEA), Worldwide electric vehicle production reached 10 million in 2020, representing a 43 percent increase over 2019.  According to Niti Aayog, In September 2021, the Production-Linked Incentive (PLI) scheme worth INR 26,058 crore (US$3.5 billion) was approved for automotive manufacturing focusing on electric vehicles and hydrogen fuel cell vehicles. With the rise in the demand for electric vehicles and increasing government investment across the globe, the demand for Ultra High Molecular Weight Polyethylene is anticipated to rise for various applications, which is projected to boost the market growth in the electric vehicles industry during the forecast period.

Rising Demand for Oil & Gas

UHMWPE fibers belong to thermoplastic polyethylene and are used in rope and cordage products in oil and gas exploration. The market growth is expanding due to its extensive properties like remarkable strength-to-weight ratio, superior performance and cost-effectiveness. According to India Brand Equity Foundation, by 2030, India's oil consumption is projected to expand by 50%, compared to a 7% increase in global demand. According to the Government of Canada, Oil production in Canada increased by 18% in August 2022 compared to August 2020. Thus, significant growth in the oil & gas industry is fuelling the growth of the Ultra High Molecular Weight Polyethylene Market size, thereby driving the market growth.

Ultra High Molecular Weight Polyethylene Market Challenge

Fluctuation in Raw Material:

The fluctuation in raw material of Ultra High Molecular Weight Polyethylene is anticipated to restrain the market's expansion on a global scale. One of the primary raw materials used in the production of polycarbonate is crude oil. According to the BP Statistical Review of World Energy 2021 report, crude oil prices have fluctuated in recent years. For instance, the Brent crude oil price decreased from US$52.39/bbl in 2015 to US$43.73/bbl in 2016, then increased from US$54.19/bbl in 2017 to US$71.31/bbl in 2018 and then decreased to US$41.84/bbl in 2020. This results in a considerable increase in prices, which drives up manufacturing costs and reduces manufacturers' profit margins, thereby limiting the Ultra High Molecular Weight Polyethylene Market growth.

Ultra High Molecular Weight Polyethylene Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Ultra High Molecular Weight Polyethylene Market. The Ultra High Molecular Weight Polyethylene Market’s top 10 companies are:

  1. LyondellBasell Industries Holdings B.V
  2. Koninklijke DSM N.V
  3. China Petrochemical Corporation
  4. Crown Plastics, Inc
  5. Braskem
  6. Asahi Kasei Corporation
  7. Celanese Corporation
  8. Dotmar Engineering Plastics
  9. Honeywall International, Inc
  10. Mitsui Chemicals, Inc

Recent Developments

  • In June 2022, Repsol announced to construct a new UHMWPE plant in Spain. The new plantpolyethene produces ultra-high molecular weight polyethylene (UHMWPE), which will open by 2024 and have a capacity of 15,000 tonnes per year.
  • In March 2021, Celanese Corporation announced plans to increase its GUR UHMWPE production capacity in Europe. The expansion will help the company's high-value GUR engineered materials portfolio grow significantly.
  • In June 2020, DSM launched a value-added product portfolio for ultra-high-molecular-weight polyethylene (UHMWPE), bringing the unique benefits of UHMWPE within reach of more manufacturers.

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1. Ultra High Molecular Weight Polyethylene Market - Market Overview
    1.1 Definitions and Scope
2. Ultra High Molecular Weight Polyethylene Market - Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Application
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Ultra High Molecular Weight Polyethylene Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Ultra High Molecular Weight Polyethylene Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Ultra High Molecular Weight Polyethylene Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Ultra High Molecular Weight Polyethylene Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Ultra High Molecular Weight Polyethylene Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Ultra High Molecular Weight Polyethylene Market - By Form (Market Size - US$ Million/Billion)
    8.1 Sheet
    8.2 Rods
    8.3 Tubes
    8.4 Fibers
    8.5 Films
    8.6 Tapes
    8.7 Others
9. Ultra High Molecular Weight Polyethylene Market - By Application (Market Size - US$ Million/Billion)
    9.1 Filtration
    9.2 Batteries
    9.3 Additives
    9.4 Medical Grade & Prosthetics
    9.5 Food Processing Machinery Parts
    9.6 Automotive Winching
    9.7 Membranes
    9.8 Others
10. Ultra High Molecular Weight Polyethylene Market - By End-use Industry (Market Size - US$ Million/Billion)
    10.1 Transportation
        10.1.1 Automotive
            10.1.1.1 Passenger Vehicles (PV)
            10.1.1.2 Light Commercial Vehicles (LCV)
            10.1.1.3 Heavy Commercial Vehicles (HCV)
        10.1.2 Aerospace
            10.1.2.1 Commercial
            10.1.2.2 Military
            10.1.2.3 Others
        10.1.3 Locomotive
        10.1.4 Marine
            10.1.4.1 Passenger
            10.1.4.2 Cargo
            10.1.4.3 Others
    10.2 Medical & Healthcare
    10.3 Food & Beverages
    10.4 Oil & Gas
    10.5 Water Treatment
    10.6 Textile Industry
    10.7 Chemical & Pharmaceutical
    10.8 Electrical & Electronics
    10.9 Others
11. Ultra High Molecular Weight Polyethylene Market - By Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 the USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 the UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 the Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 the Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Ultra High Molecular Weight Polyethylene Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Ultra High Molecular Weight Polyethylene Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share by Key Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Ultra High Molecular Weight Polyethylene Market – Key Company List by Country Premium Premium
15. Ultra High Molecular Weight Polyethylene Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

1.Global UHMW PE Market By Form Market 2019-2024 ($M)
2.Global Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
2.1 Healthcare & Medical Market 2019-2024 ($M) - Global Industry Research
2.2 Mechanical Equipment Market 2019-2024 ($M) - Global Industry Research
3.Global UHMW PE Market By Form Market 2019-2024 (Volume/Units)
4.Global Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 (Volume/Units)
4.1 Healthcare & Medical Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Mechanical Equipment Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America UHMW PE Market By Form Market 2019-2024 ($M)
6.North America Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
6.1 Healthcare & Medical Market 2019-2024 ($M) - Regional Industry Research
6.2 Mechanical Equipment Market 2019-2024 ($M) - Regional Industry Research
7.South America UHMW PE Market By Form Market 2019-2024 ($M)
8.South America Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
8.1 Healthcare & Medical Market 2019-2024 ($M) - Regional Industry Research
8.2 Mechanical Equipment Market 2019-2024 ($M) - Regional Industry Research
9.Europe UHMW PE Market By Form Market 2019-2024 ($M)
10.Europe Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
10.1 Healthcare & Medical Market 2019-2024 ($M) - Regional Industry Research
10.2 Mechanical Equipment Market 2019-2024 ($M) - Regional Industry Research
11.APAC UHMW PE Market By Form Market 2019-2024 ($M)
12.APAC Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
12.1 Healthcare & Medical Market 2019-2024 ($M) - Regional Industry Research
12.2 Mechanical Equipment Market 2019-2024 ($M) - Regional Industry Research
13.MENA UHMW PE Market By Form Market 2019-2024 ($M)
14.MENA Ultra-High Molecular Weight Polyethylene Market By End-Use Industry Market 2019-2024 ($M)
14.1 Healthcare & Medical Market 2019-2024 ($M) - Regional Industry Research
14.2 Mechanical Equipment Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
2.Canada Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
3.Mexico Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
4.Brazil Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
5.Argentina Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
6.Peru Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
7.Colombia Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
8.Chile Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
9.Rest of South America Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
10.UK Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
11.Germany Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
12.France Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
13.Italy Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
14.Spain Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
15.Rest of Europe Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
16.China Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
17.India Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
18.Japan Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
19.South Korea Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
20.South Africa Ultra-high Molecular Weight Polyethylene Market Revenue, 2019-2024 ($M)
21.North America Ultra-high Molecular Weight Polyethylene By Application
22.South America Ultra-high Molecular Weight Polyethylene By Application
23.Europe Ultra-high Molecular Weight Polyethylene By Application
24.APAC Ultra-high Molecular Weight Polyethylene By Application
25.MENA Ultra-high Molecular Weight Polyethylene By Application
26.Braskem S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Celanese Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Lyondellbasell Industries N.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Koninklijke DSM N.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Asahi Kasei Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Saudi Basic Industries Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.E. I. Du Pont De Nemours & Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Honeywell International Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Teijin Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Rochling Engineering Plastics Pvt. Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Quadrant Engineering Plastic Products, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Redwood Plastics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.King Plastic Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Garland Manufacturing Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Orthoplastics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.Shanghai Lianle Chemical Industry Science & Technology Co. Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.Nitto Denko Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)