Polyetherketoneketone (PEKK) Market Research Report Forecast till 2030

Polyetherketoneketone (PEKK) Market: Information by Type (Electrophilic Substitution, Nucleophilic Substitution), Application (Aerospace, Automotive, Medical, Others), and Region (North America, Europe, Latin America, Asia-Pacific)—Forecast till 2030

ID: MRFR/CnM/6313-HCR | February 2021 | Region: Global | 140 pages

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Market Synopsis


The polyetherketoneketone (PEKK) market was valued at USD 35.8 million in 2018 and expected to register a CAGR of 10.7% during the forecast period. It offers excellent resistance to chemical and abrasion. Among high-performance polymers, PEKK can resist extreme environments making it an ideal for use in the aerospace and oil exploration industries. In addition, when PEKK is reinforced with carbon fibers, it becomes as rigid as metal and exhibits significant lightweight properties. In the aerospace industry, PEKK is used as a high-performance alternative in motor and engine owing to its capability to withstand extreme conditions. According to the Aerospace Industries Association, the aerospace and defense industry grew by 3.0% in 2016. The US aerospace and defense industry contributes major share towards revenue generation of the aerospace industry, which was USD 865 billion in 2017. Thus, the growing aerospace industry is positively expected to influence the demand for PEKK during the forecast period.


Market Segmentation


The global polyetherketoneketone (PEKK) market has been segmented on the basis of type, application, and region. Based on type, the global polyetherketoneketone (PEKK) market has been segregated into electrophilic substitution and nucleophilic substitution. The electrophilic substitution segment is expected to register healthy CAGR owing to its wide applications in the oil & gas industry. By application, the global market is divided into automotive, aerospace, medical, oil & gas, and others.


Key Players


Some of the prominent players in the global polyetherketoneketone (PEKK) market are Arkema (France), Rallis (India), RTP Company (US), Shandong Kaisheng New Materials Co., Ltd (China), Polymics, Ltd (US), Solvay (Belgium), and Oxford Performance Materials (US).


 


Global Polyetherketoneketone (PEKK) Market Share, by Application, 2018 (%) Global Polyetherketoneketone (PEKK) Market Share, by Application, 2018 (%) Source: MRFR analysis


Regional Analysis


The growth of the Asia-Pacific market is mainly driven by high production of electric vehicles in countries such as China, India, and Japan, which is increasing the application of PEKK. The growing manufacturing and information & technology sectors owing to economic development have increased the demand for energy, which thereby has increased oil & gas extraction activities in the region. The increasing use of PEKK in the manufacturing of automobile parts and oil & gas exploration is expected to fuel the regional market growth during the review period.


The growing oil & gas extraction activities in North America owing to the rise in demand for petroleum-based products in the automotive, construction, and cosmetic industries is expected to boost the demand for PEKK in the region. Furthermore, favorable government policies and the growing adoption of petroleum-based products are expected to drive the regional market growth.


The growth of the European market is primarily driven by rapid growth in the automobile production and growing preference for polymers (petroleum-based products) over metals. Moreover, the high demand for PEKK in the manufacturing of medical devices is projected to boost the regional market growth during the review period.


Market Overview:


The increasing applications of PEKK in gas & water injection lines, offshore oil & gas production, and gas lift lines is expected to drive the market growth. Increasing investments in oil & gas exploration and production due to rising concern regarding depleting conventional resources is expected to boost the growth of the oil & gas industry, which consequently is expected to favor the demand for PEKK. According to the organization of the petroleum exporting countries (OPEC), the oil and gas collectively are expected to continue to cater to more than half of the energy needs by 2040. The growth of the end-use industries including automotive, aerospace, and petrochemicals is likely to support the growth of the polyetherketoneketone (PEKK) market. Further, the production of unconventional oil increased from 1 million cubic meters to around 3 million cubic meters in 2017, and that of natural gas increased from 4.3 billion cubic meters in 2014 to nearly 11 billion cubic meters in 2017. Thus, the increase in oil & gas exploration activities is a key factor expected to drive the growth of the polyetherketoneketone (PEKK) market during the review period.


Intended Audience



  • Polyetherketoneketone (PEKK) Manufacturers

  • Traders and Distributors of PEKK

  • Research and Development Institutes

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratories



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2018: USD 35.8 Million
  • 2030: Significant value
  •   CAGR   10.7% (2022-2030)
      Base Year   2021
      Forecast Period    2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, Application and Region
      Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Arkema (France), Rallis (India), RTP Company (US), Shandong Kaisheng New Materials Co., Ltd (China), Polymics, Ltd (US), Solvay (Belgium), and Oxford Performance Materials (US).
      Key Market Opportunities    Increasing investments in oil & gas exploration and production due to rising concern regarding depleting conventional resources is expected to boost the growth
      Key Market Drivers   The increasing applications of PEKK in gas & water injection lines, offshore oil & gas production, and gas lift lines


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    Frequently Asked Questions (FAQ) :

    Polyetherketoneketone (PEKK) market can showcase a CAGR of 10.7% from 2019 to 2024.

    Polyetherketoneketone (PEKK) market is driven by applications in aerospace, defense, and oil & gas sectors.

    Aerospace is deemed to be the leading application in the global polyetherketoneketone (PEKK) market.

    APAC can lead in the global polyetherketoneketone (PEKK) market till 2024 due to increased awareness of electric mobility.

    Rallis, Solvay, Oxford Performance Materials, Polymics, Ltd, Shandong Kaisheng New Materials Co., Ltd, Arkema, and RTP Company are notable players of the global polyetherketoneketone (PEKK) market.