Ultra-high Molecular Polyethylene Market Share

APAC Market Forecast

The ultra-high molecular polyethylene market in Asia Pacific is projected to be the largest revenue of USD 2.9 billion by the end of 2037. The market in the region is likely to grow at a CAGR of 12.1% during the forecast period. The growth of the market can be attributed majorly to the emergence of new players in the region and the growing production capacity of established companies. In early August 2020, Kinoshita Fishing Net, a subsidiary of Teijin Limited, began selling MX-4 fishing nets constructed with Teijin's UHMWPE film. By 2025, Kinoshita hopes to sell 50 tonnes of MX-4 per year. Furthermore, Asia is expected to be home to 60% geriatric population of the world by 2030. This will certainly increase the demand for medical devices, prosthesis equipment, replacement materials, and others. The burden of chronic disease will increase and will also increase the market growth in the region.

North American Market Statistics

The North America ultra-high molecular polyethylene market is estimated to be the second largest by the end of 2037. The rapid rise of the region's ultra-high molecular polyethylene industry has been aided by the abrupt increase in joint replacement surgery. The American Joint Replacement Registry yearly report for the fiscal year 2022 comprises 2,550,532 qualified original and recurrent joint replacements for hip and knee arthroplasty patients filed between 2012 and 2021.