Polyether ether ketone (PEEK) is an ideal choice for various end end-user industries such as aerospace, automotive, electronics and medical, among many others. The special properties of polyether ether ketone (PEEK), such as greater dimensional stability and high chemical resistance over conventional materials make it suitable for many end user industries. Therefore, the global polyether ether ketone (PEEK) market is estimated to increase rapidly in the near future.
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Data Bridge Market Research analyses that the polyether ether ketone (PEEK) market expected to reach USD 2,007,247.90 thousand by 2029 from USD 1,405,986.89 thousand in 2022, growing with a substantial CAGR of 4.7% in the forecast period of 2022 to 2029. Polyether ether ketone (PEEK) is emerging as an eco-friendly solution in several applications. Its usage leads to less carbon emission than other polymers such as chloride, polystyrene, ABS, polyester laminate, polyvinyl and polysulphone. PEEK is mainly used for providing excellent corrosion resistance which upsurges the service life of the products.
Growing applications of polyether ether ketone (PEEK) in many industries is expected to drive the market's growth rate
These polymers have many evolving applications in several industries such as in the aerospace, medical, automotive, oil & gas and electronics industry in upcoming year, which will further boost the growth prospects of the global polyether ether ketone (PEEK) market. Furthermore, polyether ether ketone (PEEK) is considered a prominent high-performance polymer in the plastic industry. Metals used to be the materials of choice in the medical devices, automotive, aerospace, and other industries, but now polyether ether ketone (PEEK) polymer is swiftly replacing them by fulfilling with today's global emission regulations and helping in decreasing the emission of CO2 through more efficient technology.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Glass Filled, Carbon Filled, Unfilled and Others), Application (Bearings, Piston Parts, Pumps, HPLC Columns, Compressor Plate Valves, Cable Insulation, Biomedical and Other), End-Use (Aerospace, Automotive, Food & Beverage Processing, Oil & Gas, Electrical Industry, Energy, Medical and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Victrex plc (U.K.), Evonik Industries (Germany), Panjin Zhongrun High Performance Polymers Co. Ltd., (China), Dupont (U.S.), SOLVAY (Belgium), DAIKIN (Japan), Dow (U.S.), Freudenberg SE (Germany), The Chemours Company (U.S.), Metalubgroup (Israel), M&I Materials Limited (U.K), Lubrilog (France) ECCO Gleittechnik GmbH (Germany), Ashland Inc (U.S.), Arkem S.A. (France), Hexcel Corporation (U.S.) and BASF SE (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The polyether ether ketone (PEEK) market is segmented on the basis of type, application and end-use.
- On the basis of type, the global polyether ether ketone (PEEK) market is segmented into glass filled, carbon filled, unfilled, and others.
In 2022, the carbon filled segment is projected to hold the largest share of type segment in the polyether ether ketone (PEEK) market
Carbon filled segment is expected to dominate the global polyether ether ketone (PEEK) market with a 46.12% market share due to its growing application in medical, automotive and aerospace areas. Moreover, the carbon-filled segment growth is also increasing due to the rising demand for polyether ether ketone (PEEK) products with greater stiffness and strength from major end-use industries. Also, carbon filled polyether ether ketone (PEEK) is favored more for implantable medical devices mainly for spinal surgery.
- On the basis of application, the global polyether ether ketone (PEEK) market is segmented into bearings, piston parts, compressor plate valves, HPLC columns, pumps, biomedical, cable insulation, and others. In 2022, the bearings segment is expected to dominate the global polyether ether ketone (PEEK) market with a 31.91% market share because it offers excellent hydrolysis, thermal and chemical resistance properties as well as superior resistance property to dynamic fatigue and abrasion.
- On the basis of end use, the global polyether ether ketone (PEEK) market is segmented into automotive, electrical industry, aerospace, energy, oil & gas, medical, food & beverage processing, and others.
In 2022, the automotive segment of end use segment is anticipated to dominate the polyether ether ketone (PEEK) market
The automotive segment is expected to dominate the global polyether ether ketone (PEEK) market with a 37.69% market share because automobile manufacturers mainly focus on increasing fuel efficiency by decreasing automobile weight. The polyether ether ketone (PEEK) polymers help reduce noise and offer weight reduction in automotive sector, resulting in the replacement of metals.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players in polyether ether ketone (PEEK) market: Victrex plc (U.K.), Evonik Industries (Germany), Panjin Zhongrun High Performance Polymers Co. Ltd., (China), Dupont (U.S.), SOLVAY (Belgium), DAIKIN (Japan), Dow (U.S.), Freudenberg SE (Germany), The Chemours Company (U.S.), Metalubgroup (Israel),
Market Development
- In February 2022, Arkema became the finalist at the JEC Composites Innovation Awards 2022. Among the 30 finalist in 2022 edition, Arkoma, in partnership with Somocap, was one of them in the Building and Civil Engineering category through the project led by Optimas. This has heightened the reputation of the company in the market
- In March 2021, Evonik has developed a new PEEK-based 3D printing filament. The ready-to-use material is perfect for the manufacture of additive and industrial plastic parts because of its strong chemical and temperature resistance. Extrusion-based 3D printing processes such as fused deposition modelling and fused filament fabrication (FFF) can be used to process the high-performance polymer (FDM). INFINAM® PEEK 9359 F is the name which is given to the new filament by Evonik industries.
Regional Analysis
Geographically, the countries covered in the polyether ether ketone (PEEK) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in polyether ether ketone (PEEK) market during the forecast period 2022 - 2029
North America dominates the polyether ether ketone (PEEK) market due to the growing demand of polyether ether ketone (PEEK) polymer for bearings in this region. Furthermore, presence of leading automobile manufacturers such as Cadillac, Chrysler, Tesla, Ford and others and government initiatives in the aircraft and defense manufacturing industries are expected to further enhance the market's growth rate in this region.
Asia-Pacific is estimated to be the fastest growing region in polyether ether ketone (PEEK) market the forecast period 2022 - 2029
Asia-Pacific is expected to grow during the forecast period of 2022-2029 owing to the rising demand for polyether ether ketone (PEEK) from many end-user industries. China becomes the major region of this market owing to the rising demand for consumer goods and automobiles. Furthermore, supportive government initiatives and policies encourage the global PEEK makers to set up regional distribution and manufacturing facilities.
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