during forecast period. The market has a promising growth potential due to several factors including, increasing use of UHMW PE for the manufacture of prosthetic implant, rapid industrialization, and changing lifestyle in emerging economies such as India and China.
New York, July 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ultra-High Molecular Weight Polyethylene Market by Form, End-Use Industry, Region - Global Forecast to 2027" - https://www.reportlinker.com/p04886765/?utm_source=GNW
However, fluctuation in price of raw material is expected to restrain the UHMW PE market.
The COVID-19 had severely impacted UHMW PE market, as most of the major companies operating in this market are based out of US and Europe, and have their manufacturing units in China and other Asian countries which suffered nationwide lockdown and shutdown of production plants. The disruptions in the supply chain due to a lack of raw materials and workforce resulted in hampering production units.
Sheets segment is projected to be the fastest-growing form in the UHMW PE market followed by the fiber during the forecast period.
Sheets followed by the fiber segment is projected to be the fastest and second-fastest-growing form in the UHMW PE market between 2022-2027.The properties such as resistance to wear and impact lead to increasing application of UHMW PE sheets in industrial applications in the aerospace, shipment, manufacturing.
The properties such as ease of machining, self-lubrication, and chemical stability leads to increasing use of UHMW PE sheets in conveyor belts in the food and beverage industry. These properties are expected to drive the growth of sheets segment in UHMW PE market.
UHMW PE fiber finds applications in ropes, manufacture ballistic protection materials, and cut-resistant gloves. The increase in military spending across geographies is expected to boost the demand for ballistic protection materials, which in turn is expected to drive the demand for fiber in UHMW PE market.
Mechanical Equipment segment is the largest end-use industry in UHMW PE market in 2022
Machine equipment finds applications across various end-use industries such as food & beverage, textiles, packaging, paper & pulp, power, chemical, minerals & metals, agriculture, cement and logistics & transportation. UHMW PE exhibits properties such as, enhancement of surface lubricity, which leads to the smooth movement in machine components, and reduction in jamming of equipment/components from dirt, grit, or static build-up.
North America is the largest region In UHMW PE market in 2022 and Asia-Pacific is expected to be the fastest-growing region in the market during forecast period
North America region account for the largest share in UHMW PE market in 2022. The growth of the UHWM PE market in this region is attributed to the increase in the number of joint replacement surgeries for knees and hips.
Asia-Pacific is expected to be the fastest-growing segment during 2022-2027, owing to the increasing military expenditure, rapid industrialization, and government initiatives in countries like India and China. The presence of strong technology and manufacturing capabilities of Japan is also expected to drive the market in the region.
Breakdown of primary interviews for the report on the UHMW PE market
• By Company Type – Tier 1 – 40%, Tier 2 –30%, and Tier 3 – 30%
• By Designation – C-Level – 20%, D-Level Executives – 10%, and Others – 70%
• By Region –Europe – 30%, North America – 20%, Asia Pacific – 30%, Middle East & Africa–10% and South America– 10%
The UHMW PE market is dominated by few major companies such as Celanese Corporation (US), Royal DSM N.V. (Netherlands), LyondellBasell Industries N.V. (Netherlands), Braskem S.A (Brazil), Asahi Kasei Corporation, (Japan).
The report covers the UHMW PE market and forecasts its size, by volume and value, by form (sheets, rods & tubes, fibers, films, tapes and others), end-use industry (aerospace, defense & shipping, healthcare & medical, mechanical equipment, consumer goods and others) and by region (North America, South America, Middle East & Africa, Europe and Asia-Pacific).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the UHMW PE market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the UHMW PE market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04886765/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001