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Polyetheretherketone (PEEK) Market
Polyether Ether Ketone Market - Snapshot
Polyether ether ketone (PEEK) refers to a high performing engineering thermoplastic that is marked with an unusual blend of properties. The characteristics of the product range from outstanding chemical resistance to high mechanical strength to high temperature performance. The global polyether ether ketone market is likely to thrive on the widening scope of application of the product across many industries. The opaque, rigid material makes an offering of resistance to creep, fatigue, and wear. The product also offers very high temperature resistance, around 260°C temperature can be resisted by polyether ether ketone.
Increasing concerns about the environment such as high emission of carbon has resulted in generating demand for minimal fuel. This issues has compelled manufacturers of automobiles to emphasize on bringing in fuel efficiency through of overall weight of automobiles. Replacement of metals in vehicles with environment friendly and efficient alternatives is one such effective weight to diminish the weight of vehicles. In such cases, polyether ether ketone can come up as a popular substitute of metals in the automobiles sector. This factor is estimated to support growth of the global polyether ether ketone market in the years to come.
Environment Friendly Attributes to Pave Way for Rapid Growth of the Market
The scope of application for polyether ether ketone is widened by it excellent properties. Iyt is further increasing the product lines in various areas like clinical, food, industrial, semiconductors, and transportation. It is expected that the product will make an entry diverse areas and look for opportunities in the unexplored market of the world. Polyether ether ketone emits low harmful emissions, which make it an eco-friendly product.
Some of the probable applications of the material lie in the following areas
The above-mentioned options are likely to be explored soon by the product. This factor is estimated to encourage growth of the global polyether ether ketone market over the period of analysis.
Polyetheretherketone (PEEK) Market: Snapshot
Due to its excellent mechanical properties, polyetheretherketone (PEEK) is found suitable for use across diverse industries. However, on account of being technologically sensitive, the PEEK market restrained to niche applications. While this could limit the scope for its expansion, strategies adopted by producers to bolster production capacities will steer lucrative opportunities for the market. In addition, the rising research funding aimed at novel product development will augment the market’s pace of gains in the coming years.
On the down side, the high cost of a few grades of PEEK might inhibit its uptake across industries. Additionally, technological challenges of molding PEEK also create hindrances for the overall market. Nevertheless, with the development of new applications the market players will have immense opportunities to capitalize on in the future. Besides this, they are also expected to gain from the increasing demand across emerging regions.
Transparency Market Research (TMR) forecasts the global polyetheretherketone market to exhibit a CAGR 7.1% between 2016 and 2024. At this pace, the overall market is likely to reach US$832.6 mn by the end of 2024. The market was valued at US$451.5 mn in 2015.
Asia Pacific to Report Higher CAGR than Dominant Regions
Europe and North America together constitute the leading regional segment in the global PEEK market. However, during the course of the forecast period, Asia pacific is forecast to showcase a higher CAGR of more than 7%. The rising vehicle production in countries such as Japan and South Korea, coupled with the expansion of the healthcare infrastructure across the emerging nations, will prove Asia Pacific more lucrative than other regions. While the demand from Germany will seal Europe’s dominance in the global PEEK market, stagnancy witnessed in other countries will compel manufacturers to shift focus towards in emerging regions.
In Asia Pacific, PEEK manufacturers will find attractive opportunities in ASEAN, China, and India as well. Besides this, favorable growth is also expected in Latin America as the demand from countries such as Brazil and Mexico increase. In the Middle East & Africa, PEEK manufacturers will gain from the demand witnessed in the region’s large oil and gas industries.
Electrical & Electronics Sector to Exhibit Lucrative Opportunities through Forecast Period
Based on application, medical, electrical & electronics, automotive, industrial, and aerospace are the key segments in the global polyetheretherketone market. Of these, the electrical & electronics segment emerged dominant in 2015 with a share of 25% in terms of revenue. Even when subjected to high temperatures, PEEK can retain its mechanical properties, which makes it an ideal choice for manufacturing the latest models in mobile phones and other electronic devices.
The market is also likely to gain from the rising demand for lightweight materials for manufacturing in automotive and aerospace segments. The use of lightweight materials is considered highly crucial in automobile manufacturing as they offer fuel efficiency thus improving the overall vehicle performance. PEEK also has good fatigue strength, it is biocompatible, and chemical resistant. These properties are deemed essential for medical implants, which explains the increasing application of PEEK in the medical sector. Besides this, PEEK pipes are used in chemical processing and oil & gas industries. Spurred by diverse applications of PEEK across industries, its demand is forecast to gain pace in the coming years.
Some of the most prominent enterprises operating in the global polyetheretherketone market are Victrex plc, Solvay SA, Evonik Industries, Panjin Zhongrun High Performance Polymers Co. Ltd. and Jilin Zhongyan High Performance Engineering Plastic Co., Ltd.
The global PEEK market has been segmented as follows:
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Application Analysis |
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Regional Analysis |
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1. Preface
1.1. Report Description
1.2. Research Scope
2. Assumptions and Research Methodology
2.1. Assumptions
2.2. Market Segmentation
2.3. Research Methodology
3. Executive Summary
3.1. Global PEEK Market, 2015 - 2024, (US$ Mn)
3.2. PEEK Market: Market Snapshot
4. PEEK Market– Industry Analysis
4.1. Introduction
4.2. Value Chain Analysis
4.3. Market Drivers
4.3.1. Lightweighting and Metal Substitution is Projected to Boost PEEK Market
4.3.2. Miniaturization of Electronic Components Expected to Drive PEEK Market
4.4. Restraints
4.4.1. High Cost of PEEK Anticipated to Act as Restraint for PEEK Market
4.5. Opportunity
4.5.1. Development of New Applications Likely to Act as Opportunity for the PEEK Market
4.6. Value Chain Analysis
4.7. Porter’s Five Forces Analysis
4.7.1. Bargaining Power of Suppliers
4.7.2. Bargaining Power of Buyers
4.7.3. Threat of Substitutes
4.7.4. Threat of New Entrants
4.7.5. Degree of Competition
5. PEEK Market – Application Analysis
5.1. PEEK Market: Application Overview
5.2. Global PEEK Market for Automotive, Revenue, (Kilo Tons) (US$ Mn), 2015–2024
5.3. Global PEEK Market for Industrial, Volume & Revenue, (Kilo Tons) (US$ Mn), 2015–2024
5.4. Global PEEK Market for Aerospace, Volume & Revenue, (Kilo Tons) (US$ Mn), 2015–2024
5.5. Global PEEK Market for Electrical & Electronics, Volume & Revenue, (Kilo Tons) (US$ Mn), 2015–2024
5.6. Global PEEK Market for Medical, Volume & Revenue, (Kilo Tons) (US$ Mn), 2015–2024
5.7. Global PEEK Market for Others, Revenue, (US$ Mn), 2015–2024
5.8. Global PEEK Average Selling Prices, by Application (US$/ton), 2015-2024
6. PEEK Market - Regional Analysis
6.1. Global PEEK Market: Regional Overview
7. North America
7.1. North America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
7.2. North America PEEK Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
7.3. North America PEEK Market Attractiveness Analysis, by Country
7.4. North America PEEK Market Value Share Analysis, by Application, 2015 and 2024
7.5. North America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Application, 2015–2024
7.6. North America PEEK Market Value Share Analysis, by Country, 2015 and 2024
7.7. North America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
7.8. US 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
7.9. Canada 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
7.10. North America PEEK Attractiveness Analysis, by Application
8. Europe
8.1. Europe PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
8.2. Europe PEEK Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
8.3. Europe PEEK Market Attractiveness Analysis, by Country
8.4. Europe PEEK Market Value Share Analysis, by Application, 2015 and 2024
8.5. Europe PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Application, 2015–2024
8.6. Europe PEEK Market Value Share Analysis, by Country, 2015 and 2024
8.7. Europe PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
8.8. U.K. 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.9. Italy 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.10. Spain 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.11. France 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.12. Germany 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.13. Rest of Europe 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
8.14. Europe PEEK Attractiveness Analysis, by Application
9. Asia Pacific
9.1. Asia Pacific PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
9.2. Asia Pacific PEEK Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
9.3. Asia Pacific PEEK Market Attractiveness Analysis, by Country
9.4. Asia Pacific PEEK Market Value Share Analysis, by Application, 2015 and 2024
9.5. Asia Pacific PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Application, 2015–2024
9.6. Asia Pacific PEEK Market Value Share Analysis, by Country, 2015 and 2024
9.7. Asia Pacific PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
9.8. China 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
9.9. India 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
9.10. Japan 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
9.11. ASEAN 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
9.12. Rest of AP 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
9.13. Asia Pacific PEEK Attractiveness Analysis, by Application
10. Latin America
10.1. Latin America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
10.2. Latin America PEEK Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
10.3. Latin America PEEK Market Attractiveness Analysis, by Country
10.4. Latin America PEEK Market Value Share Analysis, by Application, 2015 and 2024
10.5. Latin America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Application, 2015–2024
10.6. Latin America PEEK Market Value Share Analysis, by Country, 2015 and 2024
10.7. Latin America PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
10.8. Brazil 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
10.9. Mexico 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
10.10. Rest of LA 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
10.11. Latin America PEEK Attractiveness Analysis, by Application
11. Middle East & Africa
11.1. Middle East & Africa PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
11.2. Middle East & Africa PEEK Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
11.3. Middle East & Africa PEEK Market Attractiveness Analysis, by Country
11.4. Middle East & Africa PEEK Market Value Share Analysis, by Application, 2015 and 2024
11.5. Middle East & Africa PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Application, 2015–2024
11.6. Middle East & Africa PEEK Market Value Share Analysis, by Country, 2015 and 2024
11.7. Middle East & Africa PEEK Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
11.8. GCC 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
11.9. South Africa 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
11.10. Rest of MEA 2-shot Injection Molding Market Size and Volume Forecast, 2015-2024
11.11. Middle East & Africa PEEK Attractiveness Analysis, by Application
12. Company Profiles
12.1. Victrex plc
12.1.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
12.1.2. Business Overview
12.1.3. Product/Services, Key Brands, Key Competitors, Key End-user Industries
12.1.4. Business Strategy
12.1.5. Recent Developments
12.1.6. Financial Details
12.2. Solvay S.A.
12.2.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
12.2.2. Business Overview
12.2.3. Product/Services, Key Brands, Key Competitors, Key End-user Industries
12.2.4. Business Strategy
12.2.5. Recent Developments
12.3. Evonik Industries
12.3.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
12.3.2. Business Overview
12.3.3. Product/Services, Key Brands, Key Competitors, Key End-user Industries
12.3.4. Business Strategy
12.3.5. Recent Developments
12.4. Panjin Zhongrun High Performance Polymers Co. Ltd
12.4.1. Company Details (HQ, Foundation Year)
12.4.2. Business Overview
12.4.3. Product/Services, Key Brands, Key Competitors, Key End-user Industries
12.5. Jilin Zhongyan High Performance Engineering Plastic Co., Ltd.
12.5.1. Company Details (HQ, Foundation Year, Revenue)
12.5.2. Business Overview
12.5.3. Product/Services, Key Brands, Key Competitors, Key End-user Industries
List of Tables
Table 1: Global PEEK Market Size (US$ Mn) Forecast, by Application, 2015–2024
Table 2: Global PEEK Market Size (US$ Mn) Forecast, by Region, 2015–2024
Table 3: North America PEEK Market Size (US$ Mn) Forecast, by Application, 2015–2024
Table 4: North America PEEK Market (US$ Mn) Forecast, by Region, 2015–2024
Table 5: Europe PEEK Size (US$ Mn) Forecast, by Application, 2015–2024
Table 6: Global PEEK Size (US$ Mn) Forecast, by Country, 2015–2024
Table 7: Asia Pacific PEEK Size (US$ Mn) Forecast, by Application, 2015–2024
Table 8: Asia Pacific PEEK Market Size (US$ Mn) Forecast, by Country, 2015–2024
Table 9: Latin America PEEK Market Size (US$ Mn) Forecast, by Application, 2015–2024
Table 10: Latin America PEEK Market Size (US$ Mn) Forecast, by Country, 2015–2024
Table 11: Middle East & Africa PEEK Market Size (US$ Mn) Forecast, by Application, 2015–2024
Table 12: Middle East & Africa (MEA) PEEK Market Size (US$ Mn) Forecast, by Country, 2015–2024
List of Figures
Figure 1: Global PEEK Market
Figure 2: Global PEEK Market Value Share Analysis, by Application, 2015 and 2024
Figure 3: Global PEEK Market Attractiveness Analysis, by Application
Figure 4: Global PEEK Market Value Share Analysis, by Region, 2015 and 2024
Figure 5: Global PEEK Market Attractiveness Analysis, by Region, in 2015
Figure 6: Prices of PEEK, by Region, US$/square Meter, 2015–2024
Figure 7: North America Market Value Share Analysis, by Application, 2015 and 2024
Figure 8: North America Market Attractiveness Analysis, by Application, 2015
Figure 9: North America PEEK Market Value Share Analysis, by Region, 2015 and 2024
Figure 10: North America PEEK Market Attractiveness Analysis, by Country, 2015
Figure 11: Europe Market Value Share Analysis, by Application, 2015 and 2024
Figure 12: Europe Market Attractiveness Analysis, by Application, 2015
Figure 13: Europe PEEK Market Value Share Analysis, by Region, 2015 and 2024
Figure 14: Europe PEEK Market Attractiveness Analysis, by Country, 2015
Figure 15: Asia Pacific Market Value Share Analysis, by Application, 2015 and 2024
Figure 16: Asia Pacific Market Attractiveness Analysis, by Application, 2015
Figure 17: Asia Pacific PEEK Market Value Share Analysis, by Country, 2015 and 2024
Figure 18: Asia Pacific PEEK Market Attractiveness Analysis, by Country, 2015
Figure 19: Latin America Market Value Share Analysis, by Application, 2015 and 2024
Figure 20: Latin America Market Attractiveness Analysis, by Application, 2015
Figure 21: Latin America PEEK Market Value Share Analysis, by Country, 2015 and 2024
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*86 figures and 60 tables includes