Global Aromatic Ketone Polymers Market 2017-2021
About Aromatic Ketone Polymers
Aromatic ketone polymers (AKPs), are a class of high-performance engineering thermoplastics. They are also known as polyaryletherketones (PAEKs). They can withstand high temperatures and are known to exhibit distinct properties, which make them suitable for general engineering, aerospace, automotive, electrical and electronics, and other industrial applications. AKPs are increasingly used as alternatives to metals, ceramics, and thermosets in these applications. They are used as matrix components in structural composites in combination with carbon or glass fibers.
Technavio’s analysts forecast the global aromatic ketone polymers market to grow at a CAGR of 9.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aromatic ketone polymers market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aromatic Ketone Polymers Market 2017-2021
Technavio recognizes the following companies as the key players in the global aromatic ketone polymers market: A. Schulman, Caledonian Ferguson Timpson, Evonik, Solvay, and Victrex.
Other Prominent Vendors in the market are: Ensinger, GEHR Plastics, Goodfellow, Greene Tweed, PolyOne, PlastiComp, J. K. Overseas, Saudi Basic Industries Corporation (SABIC), Tri-Mack Plastics Manufacturing Corporation, RTP Company, and The Quadrant Group of Companies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is AKPs replacing metal in key applications. PEEK has a melting point of 649.4ºF, enabling its use in high-temperature applications. AKPs offer versatile processability, i.e., they can be used in various manufacturing processes such as injection molding, compression molding, and extrusion. Applications that require films, fibers, thermoforming, spray coating, and stock shape machining, can be processed with ease. The components made of these materials weigh less than half when compared with those made of aluminum and one-sixth when compared with those made of steel. Furthermore, the addition of fiber reinforcements such as glass or carbon does not affect the density of these polymers. Therefore, AKPs provide metal features and equivalent strength, while achieving almost 70% reduction in weight of the overall product.”
According to the report, one driver in market is regulatory norms emphasizing use of lightweight materials for fuel efficiency. The aerospace and the automotive segments are driving the demand for light, strong, and durable materials. Although the adoption of these materials was being addressed initially by the aerospace sector, the automotive sector soon followed the same, realizing the need for lightweight and fuel-efficient automobiles. Automotive parts go through rigorous tests such as mechanical shock, crash, post-crash integrity, fire resistance, drop, water immersion, and vibration-shock. Automakers often collaborate with material sciences companies to seek material solutions, relying on their technical knowledge. Automakers are striving to manufacture light and improved vehicle exterior and interior parts that can improve the fuel efficiency of the vehicle. The area of material science, especially composites, has been complimentary to the evolution of AKPs in the automotive sector.
Further, the report states that one challenge in market is intense threat of substitutes. The high cost associated with PEEK has limited its use. Consumers try and implement cost-reduction measures by employing cheaper materials that can exhibit properties similar to that of PEEK. Some of those materials are polyphenylene sulfide (PPS), acrylonitrile butadiene styrene (ABS), and polytetrafluoroethylene (PTFE). Compounds such as polyetherimide have both ether groups and the imide groups in the polymer chain. They exhibit characteristics such as high tensile strength, resistance to flame, low smoke emission, and offer good hydrolytic stability, which can be comparable with that of AKPs. These materials are cheaper and can also be extruded to produce various profiles, including coated wires, sheets, and films. Novel blends, reactive processing, and functionalization are being developed to achieve commercial reality while keeping a check on the cost. Therefore, these materials offer a considerable threat to the global AKPs market.
A. Schulman, Caledonian Ferguson Timpson, Evonik, Solvay, Victrex, Ensinger, GEHR Plastics, Goodfellow, Greene Tweed, PolyOne, PlastiComp, J. K. Overseas, Saudi Basic Industries Corporation (SABIC), Tri-Mack Plastics Manufacturing Corporation, RTP Company, and The Quadrant Group of Companies.