Medical Polyethylene Market to Hit US$ 8,921 Mn by 2030 | CAGR 6.1% According to Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Medical Polyethylene Market – Global Industry Analysis, Market Size, Opportunities and Forecast 2022 – 2030”
TOKYO, June 13, 2022 (GLOBE NEWSWIRE) — The Global Medical Polyethylene Market accounted for US$ 5,246 Mn in 2021 and is expected to reach US$ 8,921 Mn by 2030 with a considerable CAGR of 6.1% during the forecast timeframe of 2022 to 2030.
According to researchers, global polyethylene (PE) manufacturing capacity is expected to increase significantly over the next few years, reaching 156 million tones. Additionally, the worldwide polyethylene production capacity is expected to increase significantly, led by Asia-Pacific and North America. However, PE will remain the most commonly used thermoplastic polymer around the globe due to its versatility, low cost, ease of processing, and recyclability. These factors will increase the adoption of PE in healthcare, which will be fueled by an increase in consumption and manufacturing activity in the medical industry. Furthermore, PE could be a more convenient solution for patients and health care professionals than other materials in the medical industry, while still providing the durability demanded in higher situations. Recently, PE utilization in the healthcare profession has been an important factor in creativity and development. In addition, PE in medical applications offers a number of competitive advantages to medical professionals and innovative medicines designers.
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Global Medical Polyethylene Market Growth Aspects
The increasing use of PP in the production of medical diagnostics devices, pans, containers, implant trials, trays, syringes, and other medical devices is expected to propel market growth. Polypropylene is expected to see significant growth in medical component applications due to its lightweight, high chemical and bacterial resistance, and low production cost. Additionally, Medical disposables are becoming more popular as the demand for home healthcare grows. This factor is accelerating the growth of the medical polyethylene market. Medical disposables include syringes, surgical gloves, catheters, and healthcare fabrics. These disposables are simple to use and convenient. As a result of the increased demand for home treatment, there is a large market in the medical polyethylene industry.
Polyethylene will also have a cost advantage over the other plastic resins due to the growth of ethylene biomass resources from alternative sources such as coal, shale gas, and biobased materials. Furthermore, ever-improving polymerization catalyst technological innovations will improve polyethylene resin performance, customization, and yield, propelling the market forward. Besides this, the extremely competitive and mature position of polyethylene will limit future growth. Additionally, major polyethylene applications, such as strings, are increasingly subject to environmental restrictions.
|Market||Medical Polyethylene Market|
|Market Size 2021||US$ 5,246 Mn|
|Market Forecast 2030||US$ 8,921 Mn|
|CAGR||6.1% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Type, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Borealis AG, Lyondell Basell Industries N.V., SABIC, Du Pont De Nemours Inc., INEOS, DOW Chemicals, Orthoplastics Ltd., SINOPEC, Petrochina, Eastman Chemical Company, Mitsui Chemicals, Inc., and Celanese Corporation.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global medical polyethylene market. North America is expected to hold considerable market share throughout the forecast timeframe, owing to the region’s increasing awareness of personal healthcare, with the medical expenditure for each person. The growing R&D investments, presence of major players, and considerable demand in healthcare industries such as medical devices and equipment are expected to support the North American medical polyethylene market. Increasing product demands in generic drug packaging applications, as well as the massive expansion of the pharmaceutical sector in Mexico and Canada, are expected to drive the market further.
Aside from that, the Europe medical polyethylene market is expected to grow at a rapid pace in the coming years. Demand for medical polyethylene is expected to rise due to rising demand in application areas such as disposables, diagnostic components, implants, surgical instruments, and orthopedics. Growing demand for medical facilities and services, combined with increased government assistance for the healthcare industry in Europe, is expected to boost industry growth. Additionally, the growing demand for cost-effective, lightweight, and cost-effective composites for the production of clinical applications is projected to increase regional market growth over the forecast period.
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The global medical polyethylene market has been segmented by Acumen Research and Consultancy based on type, and application. Based on the type, the market is divided into high-density polyethylene (HDPE) and high-density polyethylene (LDPE). Based on application, the market split into medical tubing, medical bags, disposables, containers, medical implants, and drug testing equipment
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Some key players covered global in the medical polyethylene industry are Borealis AG, LyondellBasell Industries N.V., SABIC, Du Pont De Nemours Inc., INEOS, DOW Chemicals, Orthoplastics Ltd., SINOPEC, Petrochina, Eastman Chemical Company, Mitsui Chemicals, Inc., and Celanese Corporation.
In March 2021, Celanese Corp. has planned to increase its GUR ultra-high molecular weight polyethylene manufacturing capacity in Europe. Celanese will be capable of supporting the double-digit growth of Lithium Battery Splitters in the electric car market with this expansion. The facility will also be able to manufacture medical-grade GUR.
In December 2020, SABIC developed and released two specialized grades of polymers for use in medical and personal care applications. The company’s innovative polyethylene glycol SAPEG 400/600 PH are intermediates used to make liquid pharmaceutical preparations such as syrup and personal care products such as cosmetics, creams, toothpaste, and soap.
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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