New York, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The global ultra-high molecular polyethylene market size is slated to expand at ~11.7% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 7.9 billion by the end of 2035, up from a revenue of ~USD 1.9 billion in the year 2022.The growth of the market can be attributed to the rising demand for medical devices. According to the National Institutes of Health, worldwide demand for medical equipment is increasing as the world's population ages and life expectancy increases. In addition to its biocompatibility, wear resistance, and low friction properties, UHMWPE is widely utilized in medical implants, notably in joint replacements.
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In addition to these, factors that are believed to fuel the market growth of ultra-high molecular polyethylene is the rising modification and development in ultra-high molecular polyethylene (UHMWPE). Innosek teamed with The University of Buffalo to study the feasibility of using additive manufacturing to create lightweight airplane parts composed of ultra-high molecular weight polyethylene (UHMWPE). Previously, the University of Buffalo devised a method for processing UHMWPE to make it 14 times stronger and 8 times less dense than carbon steel. The global market for Ultra-High Molecular Weight Polyethylene (UHMWPE) has been witnessing significant growth, driven by its widespread applications across diverse industries.
Increasing Investment in Electric Vehicles across the Globe to Boost Market Growth
Global investment in electric vehicles (EVs) exceeded USD 425 billion in 2022, representing a 50% increase over the previous year. While government support accounts for only 10% of this funding, the remainder comes from consumer purchasing. Ultra-high molecular polyethylene is used as a battery separator in electric vehicles and venue in other electronic items. Ultra-high molecular polyethylene has great retardancy for chemicals. Therefore, it is suitable for the application of chemical storage, pipelines, and even chemical processing equipment. Global chemical production increased by roughly 2.5% in the first half of 2022. UHMW-PE parts are used in tobacco, cosmetic, and pharmaceutical packaging machines because they are free of impurities, lubricants, rust, and corrosion. UHMW-PE parts are safe and sanitary, with FDA and USDA approval for food contact. UHMWPE's high abrasion resistance, low coefficient of friction, and excellent impact strength make it suitable for various industrial applications. Industries such as mining, agriculture, and bulk material handling utilize UHMWPE components to enhance efficiency and durability.
Ultra-High Molecular Polyethylene Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Medical Advancements and Orthopedic Applications to Drive the Market Growth in Asia Pacific Region
The ultra-high molecular polyethylene market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The Asia Pacific UHMWPE market is witnessing a surge, largely driven by its pivotal role in the medical sector, specifically in orthopedic applications. The rising prevalence of orthopedic conditions and an aging population in the Asia Pacific region are fueling the demand for joint replacement surgeries. UHMWPE's exceptional biocompatibility, low wear rate, and durability make it a preferred material for medical implants, contributing significantly to the growth of the UHMWPE market in the region. The growth of the market can be further attributed majorly to the emergence of new players in the region and the growing production capacity of established companies. In early August 2020, Kinoshita Fishing Net, a subsidiary of Teijin Limited, began selling MX-4 fishing nets constructed with Teijin's UHMWPE film. By 2025, Kinoshita hopes to sell 50 tons of MX-4 per year. Furthermore, Asia is expected to be home to 60% geriatric population of the world by 2030. This will certainly increase the demand for medical devices, prosthesis equipment, replacement materials, and others. The burden of chronic disease will increase and will also increase the market growth in the region.
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Infrastructure Development and Material Advancements to Propel the Growth in the North America Region
The North America ultra-high molecular polyethylene market is estimated to garner the highest CAGR by the end of 2035. North America's robust infrastructure development and a focus on material innovation are accelerating the adoption of UHMWPE in various applications. UHMWPE's versatility and unique properties make it well-suited for diverse applications in infrastructure development. From bridge bearings to liners for chutes and hoppers, UHMWPE's contribution to enhancing the durability and efficiency of infrastructure projects is a key growth driver in the North American ultra-high molecular polyethylene market. The rapid rise of the region's ultra-high molecular polyethylene industry has been aided by the abrupt increase in joint replacement surgery. The American Joint Replacement Registry yearly report for the fiscal year 2022 comprises 2,550,532 qualified original and recurrent joint replacements for hip and knee arthroplasty patients filed between 2012 and 2021.
Ultra-High Molecular Polyethylene, Segmentation by Form Type
- Flat Materials
- Sheets
- Films
- Rods & Tubes
- Fibers
Amongst these segments, the flat material segment in ultra-high molecular polyethylene market is anticipated to hold the largest share over the forecast period. The UHMWPE flat material segment is witnessing significant growth, driven by its pivotal role in the medical sector, particularly in orthopedic applications. In the medical field, flat UHMWPE sheets are utilized in the production of joint implants due to their superior wear resistance and biocompatibility. With an aging global population and a rise in orthopedic conditions, the demand for UHMWPE flat materials for medical applications is on a steady incline. Industries such as manufacturing, material handling, and conveyor systems benefit from the use of flat UHMWPE sheets due to their high abrasion resistance, low coefficient of friction, and impact strength. This versatile flat material has become indispensable in industries requiring durable and low-maintenance solutions. The UHMWPE flat material segment is gaining prominence in defense and aerospace industries due to its lightweight yet high-strength characteristics. Flat UHMWPE sheets are utilized in infrastructure projects for their self-lubricating properties, corrosion resistance, and ability to withstand heavy loads. As global infrastructure development continues, UHMWPE flat materials are becoming integral in ensuring the longevity and efficiency of various construction components.
Ultra-High Molecular Polyethylene, Segmentation by End Use Industry
- Packaging Industry
- Medical
- Automotive Sector
- Electronics Industry
- Chemical
Amongst these segments, the medical segment in ultra-high molecular polyethylene market is anticipated to hold a significant share over the forecast period. The medical segment is expanding its footprint in neurosurgery, particularly in the development of spinal implants for various surgical interventions. The demand for UHMWPE in neurosurgery is driven by its excellent biocompatibility and mechanical properties. Spinal implants made from UHMWPE are increasingly used in procedures such as spinal fusion surgeries, contributing significantly to the growth of the medical segment in neurosurgical applications. According to an analysis, the global sales for spinal implants, including those made from UHMWPE, is expected to reach USD 13.8 billion by 2024. UHMWPE's biocompatibility, chemical resistance, and strength make it an attractive material for dental applications. From dental implants to prosthetic components, the material's versatility and resilience contribute to its growing prominence in the dental biomaterials market.
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Few of the well-known industry leaders in ultra-high molecular polyethylene market that are profiled by Research Nester are Celanese Corporation, Röchling SE & Co. KG, LyondellBasell Industries Holdings B.V., DuPont, Dotmar Engineering Plastics, Honeywell International Inc., TSE Industries, Inc., Korea Petrochemical Ind. Co., LTD, Mitsui Chemicals Inc., Asahi Kasei Corporation, TEIJIN LIMITED, Nitto Denko Corporation, DSM, and other key market players.
Recent Development in the Ultra-High Molecular Polyethylene Market
- DSM introduced an environmentally friendly effort for its Dyneema Purity UHMWPE Medical-Grade Fibre. This includes the launch of Bio-based Dyneema Purity fibre, which is now ISCC-certified. The aim of the initiative is to minimize the Scope 3 emissions from the medical industry.
- Honeywell International, Inc. announced the launch of a new ultra-fine denier fiber, Spectra Ultra Fine (UF) BIO, to their Spectra Medical Grade (MG) BIO fiber collection in India. It has excellent strength and is designed for its application in cardiovascular and orthopaedic medical equipment.
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