Global medical composite materials market is estimated to register CAGR of almost 7% until decade end

MOSCOW (MRC) -- The global medical composite materials market is estimated to register a CAGR of 6.91% by 2020, as per Plastemart with reference to Research and Markets.

Commenting on the report, an analyst from the research team said: Increased demand for prosthetics and orthotics will be a key trend for market growth. Individuals with damages in their limbs due to accidents or diseases have led to a rise in the demand for artificial limbs made from composite materials.

Even though carbon fiber and fiberglass have high tensile strength, they are brittle and hence cannot be used as prosthetic socket materials. This has resulted in the use of nylon, polyester, and acrylic and epoxy resins in the manufacture of prosthetics and orthotics. The adhesive and mechanical properties of the resins and fibers influence the performance of these products.

According to the report, emergence of lightweight and heat-resistant composites will be a key driver for market growth. Polymer composites are lightweight and heat resistant, and hence can be used as alternatives to metals and alloys. Polymer matrix composites have been used in the manufacture of medical prostheses and implants over the last decade. These composites are divided into reinforced plastics and advanced composites. Advanced composites contain approximately 60% of resistant continuous fibers made of carbon, glass, or aramid materials. They are increasingly being used in medical equipment such as surgical instruments, orthopedic products, and biocompatible implants.

As MRC wrote before, Clariant, a world leader in specialty chemicals, has recently introduced MEVOPUR-LQ, a family of color and additive solutions that combines the benefits of the MEVOPUR 'controlled, consistent and compliant' formulation and manufacturing approach with Clariant’s Hi Former liquid-vehicle technology. Initial product releases include a transparent amber color concentrate suitable for polyethylene terephthalate (PET and PETG) materials typically used in pharmaceutical packaging, and color and additive concentrates formulated for liquid silicone resin (LSR). The major benefit of these concentrates is that the ingredients used in the formulation of the concentrates, are evaluated according to USP<87>,<88> and ISO10993 and other relevant industry standards, thereby helping to reduce the risk of interaction with the body and/or the drug.
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MOSCOW (MRC) -- Demand in the US for high performance composites (polymer materials reinforced with advanced fibers) is forecast to rise 5.3% pa to USD10 bln in 2020, as per Plastemart with reference to Freedonia.

This will represent a deceleration from the rapid advances achieved during the 2010-2015 period, when composite demand experienced tremendous growth as Boeing's 787 DREAMLINER, comprised of over 50% composites, began deliveries. Going forward, high performance composite demand from aerospace applications will rise at a more moderate pace, but the industry will experience tailwinds from markets such as wind energy and pressure vessels, which are smaller but faster growing. High costs and labor-intensive production methods will continue to prevent these materials from expanding into higher volume and price-sensitive markets.

Aerospace will remain the leading market for high performance composites in 2020. Pressure vessels will show the fastest growth of all outlets, as high performance composites continue to gain market share in these storage containers for compressed gases. While the automotive market will see strong gains, wider application is still years off, as carbon fiber composites still prove to be too expensive and too slow in processing to gain widespread use in consumer-class vehicles.

The wind energy segment is expected to advance at a rapid clip; a recent tax credit extension will stabilize the historically turbulent market, and carbon fiber will find increased usage for reducing weight as manufacturers produce longer turbine blades. The defense and safety outlet, however, will trail average advances, as federal defense spending is slated to advance at a slower rate than GDP through the forecast period. The sporting goods market will also see only marginal gains as it faces maturity.

Carbon fiber composites will continue to account for the largest slice of demand, commanding 85% of the market in 2020, and benefitting from their declining costs and versatility across a range of applications. Aramid composites will show the next best gains, finding increased usage in industrial applications. Low cost S-glass composites will advance at a below average rate, besting only other fiber-based composites that are seeing restrained growth due to weak demand outside of military aircraft.

We remind that, as MRC wrote before, due to increasing global demand for high-performance polymers Evonik’s Resource Efficiency Segment is significantly expanding its production capacity for polyetheretherketone (PEEK) at the Changchun (China) site. In addition, the innovation pipeline is being continually expanded with new products. Business in Evonik’s VESTAKEEP brand of PEEK polymers has experienced consistent and strong growth over the last five years across all relevant industry segments for example, oil and gas, aviation and automotive. Thanks to their high thermal and chemical resistance, VESTAKEEP specialty polymers can replace metal components enabling demanding lightweight structural applications.
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MOSCOW (MRC) -- Air Products and Chemicals Inc. APD has opened a new advanced non-electronics specialty gas and helium transfill center in Ochang, North Chungcheong, South Korea, said Nasdaq.

The company has built the facility to cater to the growing demand of numerous industries including automotive, analytical, petrochemical and bio-healthcare, among others. The industrial complex of Ochang houses fine chemical, pharmaceutical and electronic materials producers. The location will enable Air Products to transfer high purity gases more efficiently and consistently to the industries situated in the area. The new plant will be producing high purity specialty gases (99.995% and higher) including rare gases and mixtures along with packaged helium.

Air Products aims to strengthen its supply abilities locally and cater to the growing markets. The new facility in South Korea will thus help the company serve this important specialty gas and helium region better.

Specialty gases help industries improve returns, reduce costs and work efficiently. Air Products' Ochang facility will supply the gases in 10 liter 150 bar cylinders, 47 liter 150 bar cylinders and cylinder packs, as well as 50 liter 180 bar cylinders. These cylinders will be supplied in 50 liter 200 bar high-pressure and large-volume cylinders. The company has a number of other helium manufacturing plants.

With its focus on Asia, last month Air Products announced its decision to expand in east China. The company has decided to build a new plant and the infrastructure associated with it, in the Pukou Economic Development Zone ("PKEDZ"), Nanjing. The plant will provide customers in the park with ultra-high purity gases. Recently the company was also awarded a long-term supply contract in South Korea. It will supply oxygen to KCC Corporation's new glass wool production line in Gimcheon which is expected to come online in Jan 2017.

As MRC informed earlier, Air Products is in advanced talks to sell its performance materials operations to Evonik Industries. The business, which makes chemicals used in sun lotion and paint, could be valued at more than USD3.5 billion. Air Products had previously announced plans to spin off both its performance materials and electronic materials units into a new company called Versum Materials in order to focus on industrial gases.
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MOSCOW (MRC) -- Mitsubishi Gas Chemical (MGC), announced that it plans to reactivate a meta-xylene (m-xylene) plant at Karashiki, Japan by March 2017, said Chemweek.

The unit, designed to produce 70,000 metric tons per year of m-xylene, was mothballed in November 2013. It will add to MGC’s 150,000-metric tons per year line, which is running at the same site. MGC is Japan's only producer of m-xylene.

MGC says it decided to reactivate the facility on tightening m-xylene markets following the closure of units by competitors. The market for purified isophthalic acid (PIA), a major consumer of m-xylene, has been growing at 4-5% per year. MGC says it sees good prospects for growth in demand for the raw material. The mothballed line will commence operations on completion of a turnaround of the facility, which is currently in operation. By March 2017, MGC’s total m-xylene capacity will rise to 220,000 metric tons per year. The company says it sells m-xylene in many countries in Asia, North America, and Europe.

Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.
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MOSCOW (MRC) -- Indian oil Corp Ltd (IOCL) has restarted its high density polyethylene (HDPE)/linear low density polyethylene (LLDPE) swing plant in Panipat, as per Apic-online.

A Polymerupdate source in India informed that the company has brought on-stream its swing plant last weekend. The plant was shut on July 24 for a planned maintenance until end-July. However, the period of the shutdown was extended owing to a fire occurred at the plant on July 25.

Located at Panipat in the northern Indian state of Haryana, the HDPE/LLDPE swing plant has a production capacity of 350,000 mt/year.

As MRC wrote previously, IOCL took off-stream its HDPE unit at Panipat refinery in northern India on April 22, 2016. It remained shut for a brief maintenance turnaround until April 26, 2016. Located at Panipat in the northern Indian state of Haryana, the HDPE unit has a production capacity of 300,000 mt/year.

Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
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