Global Polyaryletherketone (PAEK) Market, By Type (Polyether ether ketone (PEEK), Polyetherketone (PEK), Polyetherketoneketone (PEKK), Others), Filler (Glass Filled, Carbon Filled, Unfilled, Others), Application (Electrical and Electronics, Oil and Gas, Aerospace, Medical, Automotive, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Polyaryletherketone (PAEK) Market
The polyaryletherketone (PAEK) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 6.30% in the above-mentioned forecast period.
Polyaryletherketone (PAEK) is a thermoplastic used in interior aviation that has excellent temperature stability, mechanical strength, and chemical resistance. It's used in a variety of industries, including electrical and electronics, oil and gas, aerospace, medical, and automotive.
The increasing demand from medical, aerospace and automotive industry, increasing application from emerging markets and surging demand for efficient and environment friendly solution are the root cause fueling up the market growth rate in the forecast period of 2022 to 2029. Easy availability of metal and other conventional material replacement are expected to cushion the growth of the polyaryletherketone (PAEK) market in the forecast period. Moreover, their wide usage in medical implants and surgical instruments as they offer good chemical resistance, high temperature tenacity, excellent biostability which make them a feasible option for medical instruments is further expected to cushion the overall markets growth. In addition to this, the supportive government policies also accelerate the growth of the market in the above-mentioned forecast period. On the other hand, the increasing prices of product is expected to impede the growth of the polyaryletherketone (PAEK) market. The volatile raw material prices are also projected to hamper market’s overall growth.
Furthermore, the rising healthcare investments and technological progressions such as replacement of traditional metals with specialty thermoplastics are estimated to generate numerous opportunities for the market in the above-mentioned forecast period in the above-mentioned forecast period. On the flip side, the prevalence of product substitutes is projected to pose as a major challenge to the growth of the polyaryletherketone (PAEK) market.
This polyaryletherketone (PAEK) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on polyaryletherketone (PAEK) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Polyaryletherketone (PAEK) Market Scope and Market Size
The polyaryletherketone (PAEK) market is segmented on the basis of type, filler and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the polyaryletherketone (PAEK) market is segmented into polyether ether ketone (PEEK), polyetherketone (PEK), polyetherketoneketone (PEKK) and others.
- On the basis of filler, the polyaryletherketone (PAEK) market is segmented into glass filled, carbon filled, unfilled and others.
- The polyaryletherketone (PAEK) market is segmented in terms of market value, volume, market opportunities and niches into multiple applications. The application segment for PAEK market include electrical and electronics, oil and gas, aerospace, medical, automotive and others.
Polyaryletherketone (PAEK) Market Country Level Analysis
The polyaryletherketone (PAEK) market is segmented on the basis of type, filler and application.
The countries covered in the polyaryletherketone (PAEK) 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, Israel, Egypt, South Africa, 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.
North America dominates the polyaryletherketone (PAEK) market owing to the prevalence of vast manufacturing hub and increasing growth in automotive industry within the region. Asia-Pacific on the other hand, will continue to however show lucrative growth within the forecast period owing to the rising demand from automotive, electronics and medical equipment sector along with new construction project will promote demand within the region.
The country section of the polyaryletherketone (PAEK) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Polyaryletherketone (PAEK) Market Share Analysis
The polyaryletherketone (PAEK) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to polyaryletherketone (PAEK) market.
Some of the major players operating in the polyaryletherketone (PAEK) market report are Victrex plc., Solvay, corporate.evonik, Celanese Corporation, Gharda Chemicals Ltd., Ensinger, Lehmann&Voss&Co., Prototype & Plastic Mold Company, Inc., Caledonian Industries Ltd., Toray Advanced Composites, Jrlon, Inc., Tri-Mack Plastics Manufacturing Corporation, RTP Company, The Mitsubishi Chemical Advanced Materials, Arkema, Nanoshel LLC, and Panjin Zhongrun Chemical Co., Ltd., among others.
Recent Developments
- In May 2020, Evonik Industries AG has released implant-grade PEEK filament for 3D printing medical applications. Evonik became the first company in the world to introduce a 3D-printable PEEK filament as an implant-grade material for medical applications as a result of this. VESTAKEEP is the brand name for the product.
- In January 2020, Victrex plc has announced the formation of a joint venture between its Hong Kong subsidiary and Yingkou Xingfu Chemical Company to build and operate a new PolyEther Ether Ketone (PEEK) polymer manufacturing facility in Liaoning, China, with a construction investment of around GBP 32 million. The new plant has the capacity to produce 1,500 tonnes of PEEK per year. As a result, the company's PEEK business is expected to grow in the coming years as a result of the expansion.
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