Global Polyether Ether Ketone (PEEK) Market 2017-2021
About Polyether Ether Ketone (PEEK)
PEEK is highly desired in demanding applications, such as aerospace, electrical coatings, and automotive replacement components. Industrial applications of PEEK include its use in pumps and compressors, sealing rings, and transport systems. This material is used to replace metal in applications that require substantial quantities of metal, such as offshore and aviation. PEEK is establishing itself as an alternative to metals, ceramics, and thermosets in these applications. It is used as matrix components in structural composites in combination with carbon or glass fibers.
Technavio’s analysts forecast the global polyether ether ketone (PEEK) market to grow at a CAGR of 10.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyether ether ketone (PEEK) market for 2017-2021. To calculate the market size, the report considers the sales of PEEK products in key applications such as electrical and electronics, automotive, aerospace, oil and gas and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polyether Ether Ketone (PEEK) Market 2017-2021
Technavio recognizes the following companies as the key players in the global polyether ether ketone (PEEK) market: A. Schulman, Caledonian Industries, Evonik Industries, Solvay, and Victrex.
Other Prominent Vendors in the market are: Ensinger, GEHR Plastics, Goodfellow, Greene Tweed, PolyOne, PlastiComp, J. K. Overseas, Tri-Mack Plastics Manufacturing Corporation, RTP Company, and The Quadrant Group of Companies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is” PEEK aiding growth of additive manufacturing. 3D printing produces a 3D object based on a digital model created by computer aided designing (CAD) software. The digital model is dissected into multiple cross-sections or layers. The printer starts at the bottom and builds up layer by layer until the entire design is complete. The technology can be used to manufacture objects using plastic, metal, and composite materials. This is preferable for building physical models, prototypes, patterns, tooling components, and production parts in small quantities.
According to the report, one of the major drivers for this market is increased demand for high-performance polymers. High-performance polymers possess certain properties that make them ideal for use at high temperatures. They are usually available in the form of powder or pellets that can be heat-cured to suit the requirement. These high-performance polymers are costlier than engineering and commodity polymers. However, the cost factor is mitigated when the performance is considered.
Further, the report states that one of the major factors hindering the growth of this market is high cost associated with PEEK. PEEK falls under the category of high-performance thermoplastics. These are approximately 10 times costlier than engineering and commodity thermoplastics. The high cost is one of the prime factors why PEEK have remained a sparsely used polymer and supports its use in applications requiring high-performance features. Additionally, the high cost is also the reason why the volume of PEEK consumed globally is relatively less.
A. Schulman, Caledonian Industries, Evonik Industries, Solvay, Victrex, Ensinger, GEHR Plastics, Goodfellow, Greene Tweed, PolyOne, PlastiComp, J. K. Overseas, Tri-Mack Plastics Manufacturing Corporation, RTP Company, and The Quadrant Group of Companies.
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