Research Nester published a report titled “Global Ultra-high Molecular Polyethylene Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global ultra-high molecular polyethylene market in terms of market segmentation by form, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ultra-high molecular polyethylene market is estimated to garner a notable CAGR over the forecast period, i.e., 2021–2029. The market is segmented on the basis of form into sheets, fibers, films, tapes, and others, out of which, the fibers segment is anticipated to hold a notable share in the market during the forecast period owing to their application as prosthetics in the medical industry, along with easy availability and light weight. Similarly, the sheet segment is also projected to gain a significant share over the forecast period, owing to its application in the mechanical equipment industry. On the basis of end-user, the ultra-high molecular polyethylene market is segmented into automotive, aerospace, defense, medical, chemical, electronics, and others, out of which, the medical segment is estimated to hold the largest market share during the forecast period, on the back of the increasing use of these polymers as prosthetics, implants, and other medical grade devices. The growing cases of accidents and disability is anticipated to further boost the growth of the segment.
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The growth of the global ultra-high molecular polyethylene market can be accounted to the usage of the polymer in making prosthetics, membranes, fibers, and other essential goods, backed by its qualities, such as, light weight, moisture resistant, corrosion resistant, low-maintenance, and chemical inactivity. Increasing use of ultra-high molecular polyethylene in various end user industries, is expected to boost the growth of the market. For instance, the growing demand for prosthetics in the medical industry is estimated to boost the demand for these polymers, which in turn, is projected to promote the market growth.
Regionally, the global ultra-high molecular polyethylene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is projected to hold a significant share and witness noteworthy growth throughout the forecast period owing to the growing healthcare sector, combined with the technological advancements in the region. Additionally, the growing automotive sector in the region is also anticipated to boost the market growth.The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the growing automotive and manufacturing industry in developing countries, such as, China, Japan, with close to 10 million cars manufactured in 2018 in Japan, and India.
Growing Requirement of Prosthetic Body Parts to boost the Market Growth
The WHO stated that more than 15% of the total population, around 1 billion individuals, suffer from some kind of physical disability. This has immensely increased the demand for prosthetic devices over the years.
The growing demand for ultra-high molecular polyethylene for manufacturing prosthetic limbs, is the major growth factor for the market. The increasing disposable income of the people, and medical reimbursement policies in many countries, have increased the demand further, as more people can now afford prosthetic body parts. This is expected to boost the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However,high cost of these polymers is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ultra-high molecular polyethylene market which includes company profiling of LyondellBasell Industries Holdings B.V. (NYSE: LYB), Koninklijke DSM N.V (AMS: DSM), Asahi Kasei Corporation (TYO: 3407), Braskem SA (BVMF: BRKM5), Shanghai Lianle Chemical Industry Science and Technology Co., Ltd., Mitsui Chemicals, Inc. (TYO: 4183), TSE Industries, Inc., Dotmar Engineering Plastics Limited, Garland Manufacturing Company, and China Petrochemical Corporation (SINOPEC) (SHA: 600028). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ultra-high molecular polyethylene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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