The Ultra High Molecular Weight Polyethylene Market is estimated to hit $2.31 billion by 2023.
According to the new market research report by IndustryARC titled “Ultra High Molecular Weight Polyethylene Market: By Type (Low Range, Medium Range, High Range); By Application (Medical, Aerospace and Defense, Industrial and Others); By Geography- Forecast (2018-2023)”, the market is expected to grow at a rate of around 6.1% through 2023, driven by the growing purchasing power in developing economies.
Asia-Pacific Will Continue to Lead the Market Share and Growth During 2018-2023.
Asia-pacific is dominating the Ultra High Molecular Weight Polyethylene Market with the maximum revenue and highest growth rate. The APAC UHMWPE market is projected to grow with a CAGR of 6.7% during 2018 to 2023 from $609.42 million in 2017 to $905.71 million in 2023. China, Japan and India are the prominent UHWMPE market regions. The regions are well set in improving health expenditure, investments, industrialization growth. China is an important market in terms of both UHMW Polyethylene fiber production and consumption.
Selected/Sample Analysis Done in the Ultra High Molecular Weight Polyethylene Industry Report:
• The low range segment generated the maximum revenue of $702.74 million in the overall UHMWPE market in 2017 and is growing at a CAGR of 6.2% to reach $1.008 billion by 2023.
• The global UHMWPE market by applications is dominated by medical sector with the revenue contribution of $554.75 million in the year 2017 and is projected to reach $804.92 million by 2023 with a CAGR of 6.4%.
• Defence & Aerospace is the fastest growing segment with 7.1% of CAGR in the forecast period and is expected to reach $375 million by 2023 from $248.48 million in 2017.
Excerpts on Market Growth Factors Mentioned in the Ultra High Molecular Weight Polyethylene Industry Report:
1. The demand for UHMWPE fibers in many civil applications such as climbing equipment, kites sports, spear lines for spear guns is expected to drive the market growth.
2. The positive growth drivers in the automotive industry are giving very positive impact on the market growth. Automobile production is on the rise and there is a strong demand for lighter and safer vehicles. This will be the major area of application for UHMWPE in automotive sector thereby driving the market.
3. The UHMWPE market will continue to exhibit high growth over the next five years due to the increasing demand from various industries. The adoption of lightweight technology in heavy machinery and stringent environmental regulations is also fueling the demand for UHMWPE.
To access/purchase the Ultra High Molecular Weight Polyethylene Industry report browse the link below:
https://industryarc.com/Report/18632/ultra-high-molecular-weight-polyethelene-market.html?
Key Players of the Ultra High Molecular Weight Polyethylene Market:
Celanese Corporation and Braskem are the major players in the UHMWPE Market, due to a large product portfolio which caters to almost every end user industry of UHMWPE. The scenario in the UHMWPE market is very organized; the major players in the market hold a major share in the global UHMWPE market.
Asia-Pacific Will Continue to Lead the Market Share and Growth During 2018-2023.
Asia-pacific is dominating the Ultra High Molecular Weight Polyethylene Market with the maximum revenue and highest growth rate. The APAC UHMWPE market is projected to grow with a CAGR of 6.7% during 2018 to 2023 from $609.42 million in 2017 to $905.71 million in 2023. China, Japan and India are the prominent UHWMPE market regions. The regions are well set in improving health expenditure, investments, industrialization growth. China is an important market in terms of both UHMW Polyethylene fiber production and consumption.
Selected/Sample Analysis Done in the Ultra High Molecular Weight Polyethylene Industry Report:
• The low range segment generated the maximum revenue of $702.74 million in the overall UHMWPE market in 2017 and is growing at a CAGR of 6.2% to reach $1.008 billion by 2023.
• The global UHMWPE market by applications is dominated by medical sector with the revenue contribution of $554.75 million in the year 2017 and is projected to reach $804.92 million by 2023 with a CAGR of 6.4%.
• Defence & Aerospace is the fastest growing segment with 7.1% of CAGR in the forecast period and is expected to reach $375 million by 2023 from $248.48 million in 2017.
Excerpts on Market Growth Factors Mentioned in the Ultra High Molecular Weight Polyethylene Industry Report:
1. The demand for UHMWPE fibers in many civil applications such as climbing equipment, kites sports, spear lines for spear guns is expected to drive the market growth.
2. The positive growth drivers in the automotive industry are giving very positive impact on the market growth. Automobile production is on the rise and there is a strong demand for lighter and safer vehicles. This will be the major area of application for UHMWPE in automotive sector thereby driving the market.
3. The UHMWPE market will continue to exhibit high growth over the next five years due to the increasing demand from various industries. The adoption of lightweight technology in heavy machinery and stringent environmental regulations is also fueling the demand for UHMWPE.
To access/purchase the Ultra High Molecular Weight Polyethylene Industry report browse the link below:
https://industryarc.com/Report/18632/ultra-high-molecular-weight-polyethelene-market.html?
Key Players of the Ultra High Molecular Weight Polyethylene Market:
Celanese Corporation and Braskem are the major players in the UHMWPE Market, due to a large product portfolio which caters to almost every end user industry of UHMWPE. The scenario in the UHMWPE market is very organized; the major players in the market hold a major share in the global UHMWPE market.
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