The global polyether ether ketone (PEEK) market was estimated at USD 564.79 million in 2016. The market is projected to reach USD 920.40 million by 2021, at an estimated CAGR of around 10.3% during the forecast period, 2017-2022.
PEEK, a high performance plastic material, refers to a semi-crystalline organic thermoplastic polymer, which exhibits excellent mechanical and chemical resistant properties. PEEK offers the following properties-
Can operate at high temperature while maintaining stiffness Chemical resistance Water resistance Carries V-0 flammability rating Exhibits very low smoke and toxic gas emission Owing to the aforementioned properties, the demand for and usage of PEEK in commercial and industrial applications is continually increasing.
The global PEEK market has been segmented based on type and end-user industry. By type, the market has been segmented into glass filled, carbon filled, and unfilled. In 2016, in terms of revenue, the carbon filled type is expected to witness the highest CAGR of 10.68% during the forecast period. By end-user industry, the market has been segmented into aerospace, electrical & electronics, automotive, healthcare, and others.
The market is driven by numerous factors such as increasing demand and usage of lightweight materials and growing usage in the electrical and electronics industries. Irrespective of the abovementioned reasons, availability of cheaper alternatives is expected to hinder the polyether ether ketone market growth.
The market based on geography has been further segmented into Asia-Pacific, North America, Europe, South America, and Middle East and Africa. In 2016, in terms of revenue, Europe has been estimated to dominate the global PEEK market, with a market share of 36%.
A rising number of applications in the healthcare industry are expected to offer numerous opportunities for the growth of the market. Some of the major companies dominating the market with their products and services are Solvay SA, Victrex, Jida Evonik High Performance Polymers (Changchun) Co. Ltd., Jilin Zhongyan High Performance Plastics Co. Ltd., and Shenyang Chemical Co. Ltd.
Key Deliverables in the Study
Market analysis for the Global Polyether ether ketone (PEEK) Market, with region specific assessments and competition analysis on global and regional scales Market definition along with the identification of key drivers and restraints Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect the Global Polyether ether ketone (PEEK) Market on both global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped