According to Fortune Business Insights™The global ultra-high molecular weight polyethylene(UHMWPE) market size is estimated to showcase eminent growth owing to the increasing demand from the aerospace and defense industry, observes in its report, “Ultra-High Molecular Weight Polyethylene Market Size, Share &Covid-19 Impact Analysis, By Form (Sheets & Films, Rods & Tubes, Fibers, Tapes, and Others), By End-Use (Automotive, Aerospace & Defense, Medical, Chemical, Electronics, and Others) and Regional Forecast, 2020-2027.” The market size was USD 1,691.2 million in 2019 and is anticipated to reach USD 3,319.0 million by 2027, exhibiting a CAGR of 10.1% during the forecast period.

Highlights of the Report:

In order to prepare this report, we have captured data on the revenue of several key players through secondary sources such as company websites, corporate filings, annual reports, and investor presentations. We have conducted extensive interviews with key industry experts, such as CEOs, VPs, directors, and executives in order to track and analyze competitive developments such as partnerships, mergers & acquisitions, new product launches, and research & development activities. Our next step included the bottom-up procedure to arrive at the overall size of the market.

Regional Insights-

Increasing Demand for Electric Vehicles in U.S. to Help North America Dominate

North America is projected to dominate the global ultra-high molecular weight polyethylene market share with a value of USD 646.6 million in 2019. The increasing demand for electric vehicles in the U.S. is projected to drive the growth of ultra-high molecular weight polyethylene in the region. For instance, according to the U.S. International Trade Commission, there has been a 67% increase in EV sales between 2017 and 2019.

The market in Europe is estimated to showcase robust growth during the forecast period. The increasing demand for impact-resistant sheets & films and fibers from industries including aerospace & defense, medical, and automotive is predicted to strengthen the demand for UHMWPE in the region.

Information source:

https://www.fortunebusinessinsights.com/ultra-high-molecular-weight-polyethylene-uhmwpe-market-102953

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