Global Polyether Ether Ketone Market is valued approximately at USD 0.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2021-2027. Polyether ether ketone is a semi-crystalline thermoplastic that is both inert and thermally stable. It has uses in nuclear power, aircraft, temperature resistant interfaces, and medical implants, among other things. High temperature resistance, hydrolysis resistance, self-lubrication, ease of processing, and high mechanical strength is some of its unique characteristics. When exposed to flame, PEEK produces a tiny quantity of smoke or hazardous gas emissions. When compared to other thermoplastics, it melts at a relatively high temperature, and the range of its melting temperature can be treated using injection molding, extrusion, spray forming, or pressing methods. The market growth is driven by rising number of applications in the healthcare industry and increasing production of aircrafts and defense vehicles. for instance, the entire aerospace and military sector produced USD 909 billion in 2019, according to the Aerospace Industries Association (AIA), although this figure is expected to drop in 2020. In addition, the in-service passenger jet fleet will increase from 24,015 units in 2019 to 41,274 units in 2039, according to Japan Aircraft Development Corporation (JADC). However, high price of PEEK compared to conventional materials may impede market growth over the forecast period of 2021-2027.
North America led the worldwide market, with the United States, among other North American nations, accounting for the largest consumer market. The PEEK market in the United States is projected to grow at a steady rate due to steady demand from different end-user sectors such as aerospace, electrical and electronics, and others, which is expected to drive the market.
Major market player included in this report are:
Saudi Basic Industries Corporation (SABIC)
Evonik Industries AG
Prototype & Plastic Mold Co. Inc.
Panjin Zhongrun High Performance Polymers Co. Ltd
Caledonian Ferguson Timpson Ltd
Quadrant Epp Surlon India Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End use industry:
Electrical & Electronics
Oil & Gas
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Polyether Ether Ketone Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers