Global Polyether Ether Ketone (PEEK) Market By Type (Glass Filled, Carbon Filled, Unfilled), End-User (Electrical & Electronics, Aerospace, Automotive, Oil & Gas, Medical, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Polyether Ether Ketone (PEEK) Market
Global polyether ether ketone (PEEK) market is expected to rise to an estimated value of USD 1.15 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the rapid growth in emerging economies, replacement of metals and other conventional materials by PEEK and rising demand of PEEK in various applications.
Market Definition: Global Polyether Ether Ketone (PEEK) Market
PEEK or polyether ether ketone is a semi-crystalline thermoplastic that possesses excellent chemical and mechanical resistance properties. It provides melting processability in conventional moulding techniques such as, injection moulding, compression moulding and extrusion, due to the presence of ether linkage. PEEK is highly used in the production of brake systems, powertrain, engine components, induction systems, fuel systems and is used as transmission components for automotive and aerospace industries.
- The improving economic conditions in developed economies is expected to drive the market in the forecast period
- Replacement of metals and other conventional materials by PEEK; this factor will also propel the market growth in near future
- Rising demand for PEEK in aerospace and automotive industries; this factor will also drive the market
- Increased demand for high efficiency and low weight materials will also drive the market
- Increasing competition from hybrid polymers and composites; this factor is expected to restrain the market in the forecast period
- High price of PEEK compared to conventional materials, will also restrain the market growth
- Deficient osteogenic properties and the bio-inertness of PEEK; this factor will also restrain the market in near future
Segmentation: Global Polyether Ether Ketone (PEEK) Market
- Glass Filled
- Carbon Filled
- Electrical & Electronics
- Oil & Gas
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In July 2017, Toray Industries, Inc., a Japan based supplier of composite and carbon fibre, acquired TenCate Advanced Composites Holding B.V., a subsidiary of Koninklijke Ten Cate B.V. TenCate Advanced Composites Holding B.V. is a manufacturer of carbon-fiber composite material that includes polyetherketoneketone (PEKK), Polyether Ether Ketone (PEEK) and polyphenylene sulfide (PPS). The acquisition will help the company to add more products related to the market, so as to meet the growing need of customers across the globe.
- In September 2017, NuVasive, Inc., a leader in medical devices acquired Vertera Spine. The acquired company specialises in medical device and does highly innovative interbody implant through polyether ether ketone (PEEK) technology. The acquisition will help the company to penetrate more into the market
Global polyether ether ketone (PEEK) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Polyether Ether Ketone (PEEK) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global polyether ether ketone (PEEK) market are Victrex plc, Solvay, Evonik Industries AG, Panjin Zhongrun High Performance Polymers Co. Ltd, Jrlon, Inc., Parkway Products, LLC., Stern Companies, A. Schulman, Inc., Caledonian Industries Ltd., Darter Plastics, J. K. Overseas, Prototype & Plastic Mold Company, Inc., and among others.
Research Methodology: Global Polyether Ether Ketone (PEEK) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved