Dublin, April 14, 2022 (GLOBE NEWSWIRE) -- The "Europe Medical Polyethylene Market Size, Share & Trends Analysis Report by Application (Medical Tubing, Disposables, Medical Bags, Medical Implants, Containers, Drug Testing Equipment), by Country, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Europe medical polyethylene market size is expected to reach USD 624.27 million by 2030 and is expected to expand at a CAGR of 6.9% from 2022 to 2030
Increasing demand from the medical industry is anticipated to fuel the demand for medical-grade polyethylene. Polyethylene is widely used in the medical industry as it provides a low coefficient of friction, excellent chemical resistance, and good impact resistance. It caters to applications including medical implants, medical containers, and drug testing equipment.
The presence of moderate key polyethylene manufacturers is anticipated to create significant demand for medical-grade polyethylene.
Furthermore, increasing demand from the medical industry is anticipated to boost the demand for medical-grade polyethylene. In addition, due to the excellent properties of polyethylene, it is ideal for use in medical products and also caters to various industries including automotive, agriculture, medical, and infrastructure.
Ethylene (C2H4) is the raw material required for manufacturing polyethylene. Advantages of using polyethylene include enhanced protection, high adaptability, lightweight, economic, durability, excellent rigidity, superior flexibility, and easy recyclability.
The medical end-use industry has witnessed high consumption of HDPE and LDPE owing to their high melting point, high density, good resistance to alcohol, dilute acids and alkalis, low-cost polymer with good processability, excellent electrical insulation, very low water absorption, good impact strength, and FDA compliance.
Europe Medical Polyethylene Market Report Highlights
- The medical tubing application segment accounted for the largest revenue share of over 20.0% in 2021 and is further expected to witness prominent growth over the forecast period
- In 2021, the U.K. led the European market and accounted for a revenue share of more than 25.0%. Changing medical needs in the U.K., coupled with the increased spending capacities of consumers, are expected to drive the demand for polyethylene in the country over the forecast period. Growing demand for lightweight, cost-effective, and efficient materials for the manufacturing of medical applications is expected to positively impact the market growth over the coming years
- Major players are continuously working on expanding manufacturing capabilities with the rise in demand from the medical industry. In March 2021, Celanese Corporation planned to build a new ultra-high-molecular-weight polyethylene (UHMWPE) facility in Europe. This facility was expected to support growth in its high-value GUR engineered materials portfolio. The expansion is expected to begin in 2024 with an annual production capacity of approximately 34,000 metric tons/year
Europe Medical Polyethylene Market Variables, Trends, & Scope
Market Dynamics
Market Driver Analysis
- Rising Hip Replacement Surgeries in Europe
- Rise in healthcare expenditure across Europe
Market Restraint Analysis
- Stringent government regulations
Market Opportunity analysis
- Increasing COVID cases in Europe
Market Challenge analysis
- Use of other plastic polymers, bioplastics, and other alternative materials in medical applications
Porter's Five Force Analysis
PESTEL Analysis
Market Lineage Outlook
- Polyethylene Market Outlook
Europe Medical Polyethylene Market-Penetration & Growth Prospect Mapping
Europe Medical Polyethylene Market-Industry Value Chain Analysis
- Raw Material Trends
- Ethylene
Regulatory Framework
- Standards & Compliances
- Safety
- Hazards Identification
- Classification of the substance or mixture
- Label elements
- Other hazards
- First-Aid Measures
- Description of first-aid measures
- Most important symptoms and effects, both acute and delayed
- Indication of any immediate medical attention and special treatment needed
- Fire-Fighting Measures
- Extinguishing media
- Special hazards arising from the substance or mixture
- Advice for firefighters
- Accidental release measures
- Environmental precautions
- Methods and materials for containment and cleaning up
Companies Mentioned
- Tekni-Plex, Inc.
- Dow Inc.
- SABIC
- Celanese Corporation
- Orthoplastics Ltd.
- LyondellBasell Industries Holdings B.V.
- Biesterfeld AG
- Exxon Mobil Corporation
For more information about this report visit https://www.researchandmarkets.com/r/nccsvh
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