MOSCOW (MRC) -- The global medical polymers market is expected to grow at a CAGR of 8.4% from 2014 to 2020, according to GlobeNewswire with reference to a new report by Grand View Research.
Shifting trends towards substitution of conventional materials by high performance polymers such as polypropylene (PP) and PVC in medical devices coupled with growing demand for medical equipments from emerging Asian healthcare market is expected to drive the market over the next five years. Increasing geriatric population, especially in developed economies is expected to further support the growth of this industry.
Growing awareness regarding benefits of using medical polymers with biocide properties is expected to drive market demand. In addition, increasing popularity of lightweight, low cost, portable and small devices in healthcare industry is likely to propel industry expansion.
Medical fibers and resins product segment is expected to grow at a CAGR of over 8% from 2014 to 2020. In addition, increasing consumption of polyvinyl chloride (PVC), polyethylene (PE), polystyrene (PS) and PP will fuel medical polymers industry growth. Biodegradable plastics are expected to witness significant gains in light of its mounting utilization in pharmaceutical packaging because of high thermal and mechanical properties. Its demand is likely to reach 79.5 kilo tons by 2020.
In terms of application, medical packaging was the second largest application segment in 2013 and is expected to grow at a CAGR of 6.0% from 2014 to 2020 on account of increasing scope of flexible packaging in finished goods. Rising demand from various packaging systems including blood bags, syringes, oral solids and liquids is expected to stimulate development.
North America dominated the global market in 2013, accounting for over 40% of the volume share and is expected to grow substantially on account of technological development and significant investments in R&D. Moreover, increasing need for advanced instruments with better performance and higher strength and flexibility, mainly in the U.S., is likely to spur growth.
The Dow Chemical Company, Celanese, and Eastman Chemical Company dominated the global market share in 2013. Other participants include Bayer, Evonik Industries, Victrex, DuPont, Tianjin Plastics Research Institute Co. Ltd, and Lubrizol Corporation. The key strategies adopted by major players include product developments and mergers & acquisitions.
As MRC informed previously, the global medical polymer market is estimated to grow from USUSD2.3 bln to over USUSD3.5 bln, a rise of more than 52%, between 2013 and 2018, as per NanoMarkets.
MRC
MOSCOW (MRC) -- South Korean petrochemical producer YNCC has reached on-specification propylene production at its new 140,000 t/yr olefins conversion unit (OCU) at Yosu, said Plastemart.
The company fed in feedstock supplies a week ago, with the OCU currently running at a 70pc operating rate.
YNCC, a joint venture between South Korean firms Hanwha and Daelim, is a key exporter of ethylene and propylene in the country.
As MRC informed earlier, Yeochun Naphtha Cracking Centre (YNCC) is in plans to start a new olefins conversion unit (OCU). Located in Yeosu, South Korea, the unit will have a propylene capacity of 140,000 mt/year.
South Korea’s Yeochun NCC (YNCC) pyrolyzes naphtha to produce basic feedstock materials for the petrochemical industry.
MRC
MOSCOW (MRC) -- Celanese opens Mexico chemical technology hub. The new center will support the automotive, consumer, petrochemical and aerospace industries, as well as original equipment manufacturers and their tier suppliers, said Hydrocarbonprocessing.
The facility aims to serve the expanding Central and South American customer base of Celanese, a global technology and specialty materials company. The new center will support the automotive, consumer electronics, appliance, medical device, petrochemical and aerospace industries, as well as original equipment manufacturers and their tier suppliers.
Research and development (R&D) technologists in the center will work directly with manufacturers interested in product innovations in the growing markets of engineering polymers, food ingredients, adhesives, paints and coatings, and consumer goods.
These customers will have greater access to a diverse product and solution portfolio of engineered materials and intermediate chemicals, along with the technologists’ support and technical expertise.
This is the first commercial and technology center for Celanese in Mexico and is modeled after the company’s commercial and technology centers in Shanghai and Korea, which support manufacturers in the Asia region. Celanese has a rich history in Mexico starting in 1945, with a cellulose derivatives manufacturing facility in Jalisco. Since then, Celanese has built two world-class sites in Veracruz, including a chemicals production plant in Cangrejera and a logistics facility in Coatzacoalcos.
The facility will provide customers in Latin America with training in plastics and polymer technology; plastics design, molding and color; and technical and processing support. The center will draw from resources both within Mexico as well as support teams from the company’s global network of manufacturing facilities and other regional commercial and technology centers in the Americas, Europe and Asia.
As MRC informed earlier, in India, the country’s biggest oil refiner Indian Oil plans to invest USD2.4 billion in ramping up its ethanol production program. The company is looking to team with Celanese to build a 1 million metric ton per year of synthetic ethanol production capacity in the eastern town of Paradip.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Texas, Celanese employs approximately 7,500 employees worldwide and had 2014 net sales of USD6.8 billion.
MRC
MOSCOW (MRC) -- Sekisui Polymer Innovations LLC, manufacturer of KYDEX and ALLEN thermoplastics, has announced the appointment of William Lim to the role of business development consultant in Asia, as per Ein News.
Lim brings extensive experience in business development and customer service and technical acumen to the company as proven by his success in growing companies and relationships with customers in the Malaysian plastic industry. He will develop opportunities with existing and new customers, promote the company’s international sales and distribution strategy, and introduce KYDEX thermoplastics and ALLEN thermoplastics to existing and emerging markets.
As MRC informed before, in June 2014, Lubrizol Corp. received all necessary regulatory approvals to proceed with its previously announced chlorinated polyvinyl chloride (CPVC) joint venture with Sekisui Chemical Co. in Thailand. Lubrizol said the partners would invest about USD50-million to build a 30,000-t/y CPVC resin plant in the first phase. This phase, became fully operational in early August 2015.
SEKISUI Polymer Innovations, LLC designs and manufactures thermoplastic sheet products. The Company offers products such as thermoforming, membrane pressing, miter folding, laminating, and fabricating high performance component for building product.
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