Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market for ultra-high molecular weight polyethylene (UHMW PE) provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: As of 2022, the global ultra-high molecular weight polyethylene (UHMW PE) market is valued at US$ 1.9 billion and is anticipated to amplify at a phenomenal CAGR of 9% over the next ten years.
Increasing demand for strong and lightweight materials in several industry verticals is anticipated to primarily drive the demand for ultra-high molecular weight polyethylene in the future. Rising preference for ultra-high molecular weight polyethylene as a battery separator owing to its high molecular weight is also expected to favor market growth across the forecast period. The flourishing e-Commerce industry and the rising use of ultra-high molecular weight polyethylene fibers in the shipping industry are other factors positively impacting market growth.
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Prime manufacturers of ultra-high molecular weight polyethylene are anticipated to focus on increasing the production capacities of their production facilities to capitalize on the growing demand and increase their competitive advantage over other market players.
- In March 2021, Celanese Corporation, a leading ultra-high molecular weight polyethylene manufacturer and supplier, announced the initiation of its three-year plan to increase engineered material production capacity in the Asian region at Silvassa, India; Suzhou, China; and Nanjing, China; to meet increasing demand and expand its business scope.
Key Takeaways from Market Study
- At present, the global ultra-high molecular weight polyethylene market is valued at US$ 1.9 billion.
- From 2022 to 2032, the market is set to evolve at a stellar 9% CAGR.
- Sales of UHMW PE are anticipated to reach a valuation of US$ 4.5 billion by 2032-end.
- Rising investments in military and defense, growing demand for batteries, increasing demand for medical implants, and increasing manufacturing of specialty materials & chemicals are key factors driving market growth potential.
- In 2021, North America held a significant share of 40% of the global market.
- Volatility in prices of raw materials and availability of alternatives are anticipated to have a constraining effect on the growth of the market.
- The market in China is predicted to progress at 8.5% CAGR over the next ten years.
- Demand for UHMW PE sheets is anticipated to increase at a CAGR of 7.9% across the forecast period.
UHMW PE sheets are anticipated to lead ultra-high molecular weight polyethylene market expansion over the next ten years, says a Fact.MR analyst
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Competitive Landscape
To satisfy the overwhelming demand from various industry verticals, key players in the global ultra-high molecular weight polyethylene market are projected to focus on expanding their manufacturing capacity.
- Repsol, a Spanish petrochemical company, said in June 2022 that it would proceed with plans to develop an ultra-high molecular weight polyethylene (UHMW PE) production plant in Puertollano, Spain. The proposal is scheduled to be finished by 2024, with a capacity of 15,000 metric tonnes per year.
Manufacturers of ultra-high molecular weight polyethylene are also likely to pursue mergers, acquisitions, and collaborations in order to enhance their position in the global landscape and obtain a competitive advantage over other market participants.
- Celanese Corporation, a significant name in the UHMW PE sector, announced a deal to purchase DuPont's mobility and materials business unit for US$ 11 billion in cash in February 2022. Celanese has reinforced its position in the global materials market landscape while also expanding its product line with this purchase.
Prominent Keypalyers:
- China Petrochemical Corporation
- TSE Industries Inc.
- Mitsubishi Chemical Advanced Materials Group
- LianLe Chemical Corporation
- Koninklijke DSM N.V.
- Asahi Kasei Corporation
- Celanese Corporation
- LyondellBasell Industries Holdings B.V.
- Dotmar Engineering Plastics
- Honeywell International Inc.
- Mitsui Chemicals Inc.
- Garland Manufacturing Company
- Crown Plastics Inc.
- Braskem
Winning Strategy
Key ultra-high molecular weight polyethylene companies are anticipated to focus on the expansion of their production capacity and increasing their sales potential. The companies are also expected to focus on acquisitions, mergers, and collaborations to develop specialty UHMW PE fibers for specific applications in several industry verticals.
A detailed assessment of all recent developments and strategies adopted by key market players has been profiled in this new ultra-high molecular weight polyethylene market study by Fact.MR, a market research and competitive intelligence provider.
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Key Segments Covered in UHMW PE Industry Research
- By Form:
- Sheets
- Rods & Tubes
- Fibers
- Films
- Tapes
- Others (Powders & Granules)
- By Application:
- Medical Grade & Prosthetics
- Filtration
- Batteries
- Fibers
- Additives
- Membranes
- Other Applications
- By End-use Industry:
- Healthcare
- Mechanical Equipment
- Aerospace & Defense
- Shipping
- Consumer Goods
- Other Industries
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
1. Global Ultra-high Molecular Weight Polyethylene Market - Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Fact.MR Analysis and Recommendations
2. Global Ultra-high Molecular Weight Polyethylene Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Ultra-high Molecular Weight Polyethylene
3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices
3.1.3. COVID-19 Impact Benchmark with Previous Crisis
3.1.3.1. Change in Ultra-high Molecular Weight Polyethylene Demand
3.1.3.2. Before and After COVID-19 Crisis (Projected)
3.1.3.3. Before and After Sub-prime Crisis – 2008 (Actual)
TOC Continued...!
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