Global PEEK Market Overview:
Over the years, advances in chemistry and metallurgy have produced several polymers with relatively better or comparable properties to metals. Polyetheretherketone (PEEK) is a semi-crystalline thermoplastic comprising repeating monomers of two ether groups and a ketone group. It belongs to the family of polyaryletherketones (PAEK) and is obtained by dialkylation of bisphenolate salts by the stepwise polymerization process. PEEK is growing in adoption in a variety of applications because of its relatively superior mechanical properties associated with high thermal and chemical stability. PEEK is commonly used for high temperature applications that require a combination of superior thermal, chemical and combustion properties.
Global PEEK Market Size:
According to Research Cosmos, The Global PEEK Market is projected to reach USD 664.3 Million by 2021, at a CAGR of 6.3% from 2016 to 2021.
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Drivers and Restraints:
Physical characteristics such as low moisture absorption, superior mechanical and electrical properties and the ability to retain these properties at relatively high temperatures make it an ideal material for a wide range of special applications. The demand for polyether ether ketone (PEEK) has grown strongly, particularly in aerospace applications, because of its relatively better and higher performance, and durability at high temperatures than other conventional materials. The growing concern about the harmful effects of pollution and pollutants from automobiles has led manufacturers to use the lightness of the automobile to adopt alternative lightweight materials for the manufacturing process. These developments are expected to drive growth in the forecast period. In addition, PEEK is a biocompatible material and is increasingly accepted in the medical field. Magnetic resonance compatibility, sterilization resistance, and lack of toxicity are among the other key features that make the product suitable for a variety of medical applications. However, a relatively high cost of the material limits the use of polyetheretherketone for only a few higher value applications.
Europe and North America regions accounted for a dominant share of the Global PEEK Market. Strict environmental regulations and technological advances in the automotive and aerospace industries are expected to lead to growth in the market in these regions. Regular growth is expected in the industrial sector and increased awareness of the benefits associated with the use of PEEK in some applications over the forecast period. Asia-Pacific is expected to be another important region in terms of growth prospects for the global polyetheretherketone (PEEK) market. Countries such as China, India, South Korea and Japan are expected to provide a high-growth platform for the global polyetheretherketone (PEEK) market.
Key players of the Market:
Prominent players of the global market include Evonik Industries AG, Solvay S.A., Stern Industries Inc., Victrex plc, Mitsubishi Chemical Corporation, A. Schulman Inc., LATI Industria Termoplastici S.p.A. PolyOne Corporation, and Saudi Basic Industries Corporation (SABIC) among others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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