Polyether Ether Ketone (PEEK) Market Rising With Growth In New Technology Trends Research By 2026



The global polyether ether ketone market size is anticipated to reach USD 1.18 billion by 2026. It is anticipated to expand at a CAGR of 7.2% over the forecast period. Increasing demand for high-performance plastics as a substitute to metals in automobiles on account of growing need for high efficiency and low weight materials is expected to drive the PEEK market.
Stringent environmental regulatory framework in developed markets of U.S. and Europe has forced the automobile industry participants to use alternatives which help decrease fuel consumption by enhancing overall fuel efficiency. Such regional trends are anticipated to positively impact global volumes over the forecast period.
Excellent performance features of PEEK including superior strength and heat resistance are expected to propel product preference in end-use industries such as food, medical, aerospace, semiconductors, and packaging.
Carbon filled was the major product segment and accounted for approximately 45.43% of total market share in terms of revenue in 2018. The product finds application in industrial, electric, and electronics applications. Carbon filled polyether ether ketone is anticipated to witness the highest CAGR from 2019 to 2026.
The global PEEK market is consolidated on account of the presence of a limited number of regional players. Key participants include Victrex Plc; Panjin Zhongrun High-Performance Polymers Co. Ltd; Jrlon Inc.; and Quadrant EPP Surlon India Ltd.
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Excellent characteristics are widening application scope of PEEK and increasing product lines in transportation, semiconductors, industrial, food, and clinical areas. Over the forecast period, PEEK is anticipated to enter into the diverse market and explore opportunities in untapped markets on account of its environment-friendly characteristics including lower harmful emissions.
Further key findings from the report suggest:
·         Automotive emerged as the leading consumer of PEEK in 2018. Increasing need for a highly efficient material to reduce fuel consumption and to lower emission levels is expected to drive this segment
·         Europe was the leading regional market in 2018, owing to stringent environmental regulatory framework to curb overall weight of automobiles
·         Asia Pacific is expected to witness the highest CAGR on account of industrialization in China and India coupled with growing environmental concerns including noxious VOC emission levels
·         Key companies operating in the Polyether Ether Ketone (PEEK) market include Tri-Mack Plastics Manufacturing Corp.; Caledonian Ferguson Timpson Ltd; Prototype & Plastic Mold Co. Inc.; Victrex Plc; Darter Plastics Inc.; J.K. Overseas; A. Schulman AG; Jida Evonik High-Performance Polymers (Changchun) Co. Ltd; and Stern Industries Inc.
The overall market is also anticipated to experience a wide range of application in medical industry over the forecast period. Currently, it is used for spinal surgery purposes and is expected to be used for more clinical applications and commercial medical products.
There is a need for research and development in the medical industry to explore untapped clinical applications. On account of lack of long-term clinical data, currently PEEK product has a limited application in the field, but it is expected to boost over the forecast period on owing to its huge potential as a replacement.
Pricing exists as a major restraint for the Polyether Ether Ketone (PEEK) market. It is one of the most expensive products in the polymer family. The high cost is anticipated to negatively impact global market over the forecast period.
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Grand View Research has segmented the global Polyether Ether Ketone (PEEK) market on the basis of product, application:
Polyether Ether Ketone (PEEK) Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2026)
·         Unfilled
·         Carbon Filled
·         Glass Filled
Polyether Ether Ketone (PEEK) Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2026)
·         Medical
·         Automotive
·         Aerospace
·         Industrial & General Engineering
·         Electricals & Electronics
On the basis of products, the market is segmented into unfilled, carbon filled, and glass filled. Glass filled PEEK is anticipated to continue to lead the market over the forecast period followed by carbon filled. Application in electronic and electric and industrial application areas is projected to drive the growth.
Carbon filled is expected to register the highest CAGR on account of its increasing application in automotive, aerospace, and medical areas. Unfilled is the purest form which is used for niche application areas in miscellaneous industries.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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