PEEK Market by Type (Glass Filled, Carbon Filled, Unfilled), End User (Electrical & Electronics, Aerospace, Automotive, Oil & Gas, Medical), Region (Europe, North America, Asia-Pacific, Middle East, South America, Africa) - Global Forecast to 2021
“The global Polyether Ether Ketone (PEEK) market is projected to grow at a CAGR of 6.3% from 2016 to 2021”
The global PEEK market is projected to reach USD 664.3 million by 2021, at a CAGR of 6.3% from 2016 to 2021. The special properties of PEEK, such as high chemical resistance and greater dimensional stability over conventional materials have been driving the demand for PEEK in high end applications, including medical, aerospace, and automotive. The market for PEEK is expanding at a high pace; however, it still faces some restraints. The high price of PEEK and increasing competition from hybrid polymers and composites are some of the major inhibitors for the PEEK market.
“Electrical & electronics is the fastest growing end user segment in the global PEEK market”
The PEEK market, by end user, was led by the electrical & electronics sector in 2015. This segment is projected to grow at the highest CAGR from 2016 to 2021. The growth of this sector is due to the rising demand from end applications in the electrical & electronics industry, including electrical connectors, transformers, cable sheaths, and so on.
“Glass filled is the fastest-growing type segment in the global PEEK market”
The glass filled segment accounted for the largest share of the global PEEK market in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. The major driver for the growth of this segment is the growing demand for PEEK products with greater strength and stiffness from key end-use industries.
“Asia-Pacific is the fastest growing market for PEEK, whereas, Europe held the maximum share in 2015”
The PEEK market in the Asia-Pacific region is projected to grow at the highest CAGR in the coming years. The growth of this regional market can be attributed to the increased demand for PEEK from the electrical & electronics, aerospace, and automotive end user segments in the region. Moreover, in 2015, Europe was the largest market for PEEK and is projected to grow at a high rate from 2016 to 2021. The stringent environmental regulations implemented in the European region has led to the increased usage of PEEK in the automotive industry for the manufacture of various interior, exterior, and under-the-hood components for automobiles.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%
By Designation: C level – 75%, Manager level – 25%
By Region: North America – 10%, Europe – 20%, Asia-Pacific – 30%, Latin America – 20%, and Middle East & Africa – 20%,
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. Key players have been profiled in the study, including Victrex plc (U.K.), Solvay S.A. (Belgium), Evonik Industries AG (Germany), and Panjin Zhongrun High Performance Polymers Co. Ltd., (China), among others.
In this report, the PEEK market has been segmented based on end user, type, and region. The market is segmented into six regions, namely, Asia-Pacific, North America, Europe, the Middle East, South America, and Africa. It provides detailed information regarding the key factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the PEEK market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on PEEK offered by the top players in the global PEEK market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for PEEK across regions
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global PEEK market