Increasing use of Polyether Ether Ketone in major end-use industries to drive the product demand over the forecast period 2021-2027

Market Overview

Polyether ether ketones are widely used in the electrical industry owing to its ability to maintain mechanical properties in high temperature. PEEK is classified as unfilled, carbon filled, and glass field. Glass filled PEEK is majorly used as a result of strong chemical & creep resistance, biocompatibility, FDA compliance and excellent electrical properties. It is increasingly used in the manufacturing of cable insulator, high-temperature connector, and other electronic equipment such as telecommunications, home appliances, and vehicles.

The demand for carbon filled PEEK is rising from automotive, marine, and aerospace industry due to less energy consumption and enhanced compressive strength and stiffness.  Due to its biocompatibility, the product is increasingly appealing in the healthcare industry. Moreover, its mechanical property similar to that of bone makes it suitable to use in dental implants and spinal fusion. R&D investment by the market players has also found suitability of PEEK in 3D printing.

Market Segmentation

The global Polyether Ether Ketone market is segmented into type, applications, and region.

 On the basis of the type, the polyether ether ketone market is divided into unfilled, carbon filled, and glass field.

Based on the application, the global polyether ether ketone market is segmented into electrical, medical, automotive, aerospace, marine, and others.

Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Regional Analysis

Asia Pacific is leading the global market owing to the growing electrical, automotive, and aerospace industries. Increasing demand for the telecommunications, displays, and other electronic gadgets are driving the market growth in this region. Furthermore, rising mandate for the electric vehicles for reducing the carbon emission in the environment is augmenting the PEEK market growth. Rapidly expanding automotive and aerospace industry due to the economic development of the country is stimulating the product demand further.

North America and Europe are the growing regions in the polyether ether market as a result of the booming aerospace industry due to rising number of air traffic in the developing countries such as India, China, and Thailand coupled with rising purchasing power.

Competitive Analysis

Some of the prominent players in the global polyether ether ketone market are Solvay (Belgium), Victrex plc (U.K), Evonik Industries AG (Germany), Darter Plastics, Inc. (U.S.), Jrlon, Inc. (New York), Caledonian Ferguson Timpson Ltd (U.K), Zyex (U.K), SABIC, Saudi basic Industries Corporation (Saudi Arabia), Celanese Corporation (U.S.), Quadrant Epp Surlon India Limited (India), Stern Companies (U.S.).

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