The global polyether ether ketone (PEEK) market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.6% in the forecast period of 2022 to 2029 and is expected to reach USD 1,062.29 million by 2029.
The world class Polyether Ether Ketone (PEEK) Market research report is structured with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skilful forecasters, and well-informed researchers. This global market report offers an analytical assessment of the prime challenges faced by the market currently and in the coming years, which gives idea to other market participants about the problems they may face while operating in this market over a longer period of time. In the large scale Polyether Ether Ketone (PEEK) market report, industry trends are put together on macro level with which clients can figure out market landscape and possible future issues.
Global Polyether Ether Ketone (PEEK) marketing report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. The report endows with the complete knowledge and information of rapidly changing market landscape, what is already there in the market, future trends or market expectations, the competitive environment, and competitor strategies that aids in planning the own strategies with which business can outshine the competitors. The widespread Polyether Ether Ketone (PEEK) business report contains top to bottom analysis and estimation of various market related factors that plays key role in better decision making.
Access PDF Sample Report (Including Graphs, Charts & Figures) @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-polyether-ether-ketone-peek-market
PEEK is a colorless organic thermoplastic polymer, a member of the poly aryl ether ketone (PAEK) family. It is a homopolymer having a single monomer. It is a semi-crystalline thermoplastic with exceptional chemical and mechanical properties that are retained even at higher temperatures. It shows resistance to deterioration during various sterilization procedures. Hence it can be sterilized with heat sterilization methods without affecting its properties. Its chemical structure makes it highly resistant to chemical and radiation damage, compatible with reinforcing agents such as glass and carbon fibers and has greater strength than metals. These properties make it highly suitable for industrial applications.
Some of the prominent participants operating in the global polyether ether ketone (PEEK) market are Victrex Plc, Evonik Industries AG, Solvay, DAIKIN COMPOUNDING ITALY S.p.A, Freudenberg, Arkema, Ensinger, the Mitsubishi Chemical Group of Companies (A Subsidiary of Mitsubishi Chemical Group Corporation), Avient, BARLOG Plastics GmbH, SABIC, SAINT-GOBAIN, Westlake Plastics, Fluorocarbon Group, among others.
Global Polyether Ether Ketone (PEEK) Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail below:
- Rising applications of polyether ether ketone (PEEK) in various industries
These polymers have many emerging applications in the aerospace, automotive, oil & gas, medical and electronics industry in the near future, which will further enhance the growth prospects of the global polyether ether ketone (PEEK) market. Moreover, polyether ether ketone (PEEK) is regarded as a leading high-performance polymer throughout the plastic industry. Metals used to be the materials of choice in the automotive, aerospace, medical devices and other industries, but now PEEK polymer is rapidly replacing them by complying with today’s global emission regulations and assisting in reducing CO2 emission through more efficient technology.
- Excellent characteristics and properties of PEEK
PEEK polymers melt at a relatively high temperature compared to other thermoplastics. The range of its melting temperature can be processed and enhanced more using injection molding, extrusion methods, spray forming, or pressing methods. Apart from this, the ability to process polyether ether ketone (PEEK) polymers with 3D printing makes it a desired material for its increased applications.
- PEEK as a potential alternative to metals in the automotive industry
Rising consumers’ purchasing power, rapid industrialization in various countries and rapid expansion of the automobile sector in China, India, Germany and many other countries have propelled the growth of the automobile sector. Polyether ether ketone is increasingly used in automotive parts, such as engines, gaskets, transmission rings, friction rings and thrust washers, which is, in turn, driving the growth of the market.
- Rapid advancement in medical and healthcare application
The overall market is also anticipated to experience a wide range of applications in the medical industry over the forecast period. Currently, it is used for spinal surgery and is expected to be used for more clinical applications and commercial medical products with more research and development. There is a continuous need for research and development in the medical industry to explore untapped clinical applications of PEEK. On account of the lack of long-term clinical data, currently, the PEEK product has limited application in the field, but it is expected to boost over in the near future owing to its huge potential as a replacement for other materials used.
- Stringent regulations to reduce CO2 emissions
PEEK is emerging as an environment-friendly solution in various applications. Its application leads to low carbon emissions compared to other polymers, including polyester laminate, polyvinyl chloride and polystyrene, among others. PEEK increases the service life of the products in which it is used by providing excellent corrosion resistance. It also performs well under high temperatures. It is one of the most versatile products in terms of providing manufacturing design freedom and thus results in less dependence on labor.
- High costs of polyether ether ketone (PEEK) products
The polyether ether ketone (PEEK) polymer manufacturer and its products require a considerably high investment, as the manufacturing process is more complex than any other group of polymers or metals. In addition, manufacturing PEEK products that can withstand high temperatures requires a high level of technical competency, technicians and research. Due to these factors, the production of PEEK is costly and thus the cost of end-products is also very high.
- Easy availability of substitutes
Plastic is a lightweight, durable, inexpensive and easily modified material. This is the reason for its usage, which has increased rapidly and is still growing. Plastic consists of polymers, which are large organic molecules. In the polymer market, various substitutes are available to be used in place of PEEK polymer. There are a variety of high-performance polymers available in the market.
- Challenging processing conditions for polyether ether ketones
There are many challenges in compression molding of PEEK. The process is time-consuming, highly sensitive and very specific in the type of tooling required. Compression molding is known for low productivity; even a large processor can only consume 20-25 Kg per day of production. The actual process of compression molding PEEK is also not straightforward and needs to be finely tuned until a process that most suits the equipment is available. In addition, the selection of dies is critical. In its molten form, PEEK can be a very aggressive and reactive material and steel gets corroded during molding. Therefore, finding a balance between a strong die metal and the correct process is critical in obtaining a final process that is both economical and productive and which yields a high-quality final product.
- An increase in competition from composites and hybrid polymers
Moreover, fiber-reinforced polymer composites are gaining importance in various fields, from household articles to the automobile industry. Natural and synthetic fibers have low cost, are lightweight and have high specific and mechanical strength. Fiber-reinforced hybrid composites have been emerging widely as potential materials for fabricating composites for different applications. Using such well-characterized processing techniques and modification methods helps achieve desirable product qualities.
- In February 2022, Arkema became the finalist at the JEC Composites Innovation Awards 2022. Arkema, in partnership with Somocap, was one of the 30 finalists for this 2022 edition in the Building and Civil Engineering category through the project led by Optimas. This has enhanced the company’s reputation in the market
Global Polyether Ether Ketone (PEEK) Market Scope
The global polyether ether ketone (PEEK) market is categorized based on type, application and end use. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
- Carbon Filled
- Glass Filled
On the basis of type, the global polyether ether ketone (PEEK) market is classified into glass filled, carbon filled, unfilled and others.
- Piston Parts
- Compressor Plate Valves
- HPLC Columns
- Cable Insulation
On the basis of application, the global polyether ether ketone (PEEK) market is classified into bearings, piston parts, pumps, HPLC columns, compressor plate valves, cable insulation, biomedical and others.
- Electrical Industry
- Oil & Gas
- Food & Beverage Processing
Global Polyether Ether Ketone (PEEK) Market Regional Analysis/Insights
The global polyether ether ketone (PEEK) market is segmented based on country, type, application and end use.
Some countries in the global polyether ether ketone (PEEK) market are the U.S., Canada, Mexico, U.K., Germany, U.K., France, Italy, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands and Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand and Rest of Asia-Pacific, Egypt, Saudi Arabia, United Arab Emirates, South Africa, Israel and Rest of the Middle East and Africa.
China is expected to dominate the Asia-Pacific polyether ether ketone (PEEK) market owing to the growing demand for automobiles and consumer goods in the region. The U.S. is expected to dominate in the North American region owing to the increasing demand for PEEK polymer for bearings in the region. Germany is expected to dominate the Europe polyether ether ketone (PEEK) market due to growing awareness of the excellent characteristics and properties of PEEK in the region.
The report answers questions such as:
- What is the market size and forecast of the Polyether Ether Ketone (PEEK) Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Polyether Ether Ketone (PEEK) Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Polyether Ether Ketone (PEEK) Market?
- What is the competitive strategic window for opportunities in the Polyether Ether Ketone (PEEK) Market?
- What are the technology trends and regulatory frameworks in the Polyether Ether Ketone (PEEK) Market?
- What is the market share of the leading vendors in the Polyether Ether Ketone (PEEK) Market?
- What modes and strategic moves are considered suitable for entering the Polyether Ether Ketone (PEEK) Market?
Get the Full Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-polyether-ether-ketone-peek-market
Explore More Reports:
About Data Bridge Market Research:
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.
Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
- Digital Identity Solutions Market Size Is to Hit USD 97.59 Bn with A Healthy Growing CAGR Of 16.98% Over 2023-2030 - August 9, 2023
- Intelligent Document Processing Market Is to Potentially Grow at A CAGR Of 30.12% Between 2023-2030 - August 9, 2023
- Connected Agriculture Market 2023 Global Future Scope, New Opportunities, and Technology Analysis Report | CAGR Growth of 18.96% Over 2023-2030 - August 9, 2023