High Performance Polyethylene Market: Introduction
- High performance polyethylene (HPPE) is a long chain of polyethylene molecules arranged in the same direction. These molecules are bonded together by the van der Waals forces. This provides strength to the backbone of the polymer through strong intermolecular interactions.
- HPPE possesses properties such as high impact strength; and high resistance to strong acids, bases, and organic solvents. It also has low coefficient of friction. As a result, HPPE is employed in various applications, ranging from metal protection and lubrication of machinery in the food & beverages industry to pharmaceutical applications as a component of ointments and barrier creams.
Key Drivers and Restraints of Global High Performance Polyethylene Market
- Increase in demand for HPPE in the military & defense industry is a major driver of the HPPE market. HPPE absorbs extremely high amount of energy; hence, it is used for the production of ballistic protection equipment. It has high tensile strength, which provides impact strength to glass or carbon fibers. Thus, demand for HPPE is high in the military & defense industry.
- High abrasion resistant quality makes HPPE wear and tear free; hence, it is used in a wide variety of applications, including reinforcement of glass, packaging, sports equipment, concrete reinforcement, protective coating, and medical purposes. Thus, growth in various industries such as packaging, pharmaceutical, electronics, and commercial is boosting the high performance polyethylene market.
- HPPE has low melting point and is difficult to recycle. These factors are restraining the HPPE market. Rise in environmental awareness and increase in stringent governmental rules and regulations about environmental issues such as pollution and recycling of plastic are anticipated to hamper the high performance polyethylene market.
Global High Performance Polyethylene Market: Segmentation
- The global high performance polyethylene market can be segmented based on application and end-user industry
- Based on application, the global HPPE market can be divided into protective coating, cable & ropes, concrete enforcement, reinforcement of glass, sports equipment, impact shield, medical products, and others. Protective coating and impact shield segments are estimated to dominate the market during the forecast period.
- In terms of end-user industry, the global high performance polyethylene market can be classified into military & defense, textile, food & beverages, automobile, electrical & electronic, chemical, pharmaceutical and others. The military & defense segment is projected to expand at the maximum CAGR during the forecast period. HPPE absorbs high amount of energy; therefore, it is largely used in the military & defense segment. This is driving the military & defense segment of the global market.
Global High Performance Polyethylene Market: Regional Segmentation
- Based on region, the global high performance polyethylene market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global high performance polyethylene market in 2018. The market in the region is expected to expand at a significant pace during the forecast period, due to the high demand for HPPE in the U.S. and Canada. The U.S. is one of the largest manufacturers of military and defense equipment across the globe,. It is expected to lead the global market during the forecast period.
- The market in Asia Pacific is likely to expand at a significant CAGR during the forecast period, as demand for HPPE is high in various industries in countries such as China, Japan, and India due the rapid industrialization.
- The market in Europe is expected to expand at a steady CAGR during the forecast period. France, U.K., and Germany are likely to lead the market in Europe during the forecast period.
Is something restraining your company’s growth in the High Performance Polyethylene Market? Ask for the report brochure here
- In September 2019, TEIJIN LIMITED commenced operations of the ASEAN plant and technical center at Teijin Corporation (Thailand) Limited, Thailand. The company also has plants in China and Japan. Through the three hubs in Asia, the company aims to meet the global demand for new resin compounds.
- In May 2018, DSM invested significantly to install new UD technology at its plant in the Netherlands, and in the Greenville plant, the U.S. The company is estimated to improve the existing production lines in order to expand its HPPE capacity. This move is projected to boost the global production capacity of Dyneema UD by more than 20%.
Key Players Operating in Global High Performance Polyethylene Market:
- TEIJIN LIMITEDDSM
- Asahi Kasei
- Mitsui Chemicals, Inc.
- Artek, Inc.
Request COVID-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=73536
Related Report - Chemical Mechanical Planarization Market