World News: 17:43 GMT Wednesday 12th June 2019. [Reports And Data via Globe Newswire via SPi World News]
NEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- The Global Ultra high molecular weight polyethylene [UHMWPE] market is forecast to reach USD 4.23 Billion by 2026, according to a new report by Reports and Data.
Presence of certain traits in UHMWPE makes it favorable for application in different industries. Specific characteristics of this type of polyethylene, such as minimal reactivity to chemicals, lightweight, high durability, strength results in making it an integral part of shipping, aerospace, and defense sectors. The previous type of ballistic armor and equipment used in the military used to be heavy and made it difficult to use. However, it is the development of UHMWPE and its tolerance to extreme temperature, resistance to erosion, resistance to impacts, strength, and durability resulted in its significant use in the defense sector.
There has been a drastic increase in the geriatric population that has resulted in an associated rise in demand for joint replacements. In addition to that, rise in incidents of fall and fracture among this section of the population because of the orthopedic issue has also resulted in increased demand for joint replacement treatments that in turn positively impacts the growth rate of the industry. The underlying reason being, this type of polyethylene have features like wear resistance, self-lubrication, self-lubrication, bio-compatible, low coefficient of friction, associated with it. The mentioned traits makes it highly applicable to prosthetic implants, contributing to the growth of the sector.
In context to region, North America can be seen to be dominating the market. In this region, increased investment in the healthcare sector, technological advancements in the healthcare industry, and rise in demand for prosthetic implant results in its dominance in the industry.
For the purpose of this report, Reports and Data have segmented the global Ultra high molecular weight polyethylene [UHMWPE] market according to Form, Catalyst type, Application area, End-users, and Region:
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Globe Newswire: 17:43 GMT Wednesday 12th June 2019
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