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Kenneth Research recently added a report on the Global Ultra-High Molecular Weight Polyethylene Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Ultra-High Molecular Weight Polyethylene Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Ultra-High Molecular Weight Polyethylene Market is valued approximately USD 1.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.4 % over the forecast period 2020-2027. Ultra-High Molecular Weight Polyethylene (UHMWPE) a subset of the thermoplastic polyethylene and has the molecular weight between 5 to 9 million. It has the highest molecular density with excellent mechanical properties such as high impact strength, high abrasion resistance, lightweight, self-lubricating, chemical resistance, low coefficient of friction and sound dampening properties. It is widely used in Healthcare & Medical, Aerospace, Defense & Shipping, Mechanical Equipment, Food & Beverages and Other. The rise in number of joint replacement surgeries coupled with an increase in geriatric population are the few factors responsible for growth of the market over the forecast period.
For instance: according to AgeingAsia.org, the number of population aged 60 and above were 11,988,000 in 2019 and is expected to rise by 29,841,000 in 2050. Also, the total percentage of population aged 60 and above were 12.3% in 2019 and is expected to rise by 27.2 % in 2050. Similarly, the American geriatric population (65 years old or more) was 16% in 2018 and is anticipated to rise by 22 % of American geriatric population in 2050. Also, as per Statista, the number of Knee replacement procedures conducted per 100,000 inhabitants in Spain was 118.4 and has risen to 132.2 per 100,000 inhabitants in 2018. However, volatile prices of raw materials is the major factor restraining the growth of global Ultra-High Molecular Weight Polyethylene market during the forecast period.
The regional analysis of global Ultra-High Molecular Weight Polyethylene market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the the fast adoption of new technology and continuous investments for the advancement in the medical sector.
Major market player included in this report are:
Lyondellbasell Industries N.V.
Koninklijke Dsm N.V.
Asahi Kasei Corporation
Mitsui Chemicals, Inc.
Saudi Basic Industries Corporation
E. I. Du Pont De Nemours And Company
Honeywell International Inc.
Toyobo Co., Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Rods & Tubes
By End-Use Industry:
Aerospace, Defense & Shipping
Healthcare & Medical
Food & Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ultra-High Molecular Weight Polyethylene Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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