Global Polyether Ether Ketone (PEEK) Market size is examined and is expected to value around USD 1.9 billion by the end of 2026. The industry is expected to grow with a CAGR of 7.4% during the coming years.
Expanding need for superior plastics as a substitute to metals in cars by virtue of developing requirement for high productivity and low weight materials is relied upon to drive the PEEK market.
Stringent environmental regulatory system in created markets of U.S. furthermore, Europe has constrained the automobiles market vendors to utilize choices which help reducing the fuel utilization by improving overall fuel efficiency. Such regional patterns are foreseen to decidedly affect worldwide volumes over the coming years. However, the mind-boggling expense is foreseen to contrarily affect worldwide market over the forecast period. Outstanding performance features of PEEK including unrivalled quality and warmth opposition are relied upon to move product inclination in end-use ventures, for example, medical, food, aerospace, packaging, and semiconductors.
Automotive and industrial and general building application regions drove the market in 2018. Developing packaging concerns combined with stringent condition controls is relied upon to drive product need from modern application fragment over the forecast period.
On other hand, automobile manufacturers are concentrating on expanding eco-friendliness by diminishing automobile weight. For doing this, PEEK has developed as the best and condition well-disposed arrangement by supplanting metals. Aerospace developed as a critical application region and is relied upon to drive generally need by virtue of its expanding need in new generation passenger aircraft. These passenger aircraft primarily use carbon filled PEEK. Developing need for clinical application is additionally expected to rise as the main market driver.
Polyether ether ketone has been rising as an effective product for implantable gadgets for the most part for spinal surgery and is supplanting titanium which was basically utilized for such purposes. Carbon filled PEEK is favoured more for such medical uses.
Market By Product
Market By Application
Market By Geography
Europe was trailed by North America and Asia Pacific. Rising economies of India, China, and South Korea are likewise expected to fundamentally add to the regional growth by virtue of emerging industrial and customer packaging businesses. Europe drove the worldwide market by virtue of the stringent regulatory framework. These strict rules for the most part relating to condition and fuel consumption expanded the need in transportation division which thus brought about regional strength.
Asia Pacific is anticipated to observer the utmost CAGR by virtue of industrialization in India and China paired with rising environmental concerns counting harmful VOC emission levels.
Also, developing GDPs combined with government activities to advance FDI in rising economies is foreseen to additionally help the territorial need in not so distant future. Middle East and Africa is likewise expected to develop at noteworthy rate by virtue of its rising application in industrial and automotive purposes.
Major companies contributing the global Polyether Ether Ketone (PEEK) market are Stern Industries Inc.; Tri-Mack Plastics Manufacturing Corp.; JidaEvonik High-Performance Polymers (Changchun) Co. Ltd; Caledonian Ferguson Timpson Ltd; A. Schulman AG; Prototype & Plastic Mold Co. Inc.; J.K. Overseas; Victrex Plc; and Darter Plastics Inc.