Aromatic Ketone Polymer Market – Market Overview
Aromatic Ketone Polymers (AKP), also known as poly aryl ether ketones are high-performance thermoplastic polymers widely used in the manufacturing of electronic devices owing to improved strength and resistance to combustion and extreme temperature. AKP can be classified as poly ether ether ketone (PEEK), poly ether ketone ketone (PEKK), and poly ether ketone (PEK). PEEK is the most preferred AKP due to thermal stability and high chemical resistance. The product finds application in electronics, automotive, aerospace, and healthcare industries. AKP are used at large scale in the automotive and aerospace & defence industry due to its light weight properties. AKP use is increasing in the healthcare industry with the introduction of new products by the key players such as Solvay S.A. owing to its biocompatibility. In addition, the product consumption is rising in medical implants in place of titanium metal for manufacturing of spinal fusion devices due to better biological integration.
Growing electrical and electronics industry with increasing requirement for the consumer electronic devices such as TV, home appliances, and smart phones is propelling the market growth across the globe. North America accounted for the largest market share in the AKP market in 2017 as a result of rising for electronic devices such as wireless speakers, wearable devices, and appliances. Additionally, the demand for portable devices is increasing due to presence of key technological corporations such as Google, Dell, and Microsoft in this region. Reviving automotive industry with enlarging production of electric vehicles in order to reduce the environmental pollution is driving the market growth. Furthermore, automation and technological advancements such as internet access and GPS tracker in the vehicles is fuelling the AKP demand. Asia Pacific is the fastest growing region in the Aromatic Ketone Polymers with the growing major end-use industries in the emerging nations such as India and China. Initiatives taken by the Indian government such as Smart Cities Mission and Digital India are uplifting the market growth further.
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Aromatic Ketone Polymer Market – Competitive Analysis
Aromatic Ketone Polymer (AKP) is at the growth stage and is expanding rapidly across the globe especially in the Asia pacific region owing to the growing electrical and electronics industry. Some of the growing trends noticed among the market players are acquisition, business expansion and product invention. For instance, in 2017, – Solvay S.A., a leading global supplier of speciality polymers, unveiled new PEEK product under the brand name Zeniva ZA-600 CF30 viz. 30% carbon fiber-reinforced, radiolucent polymer offered for implantable medical device applications.
Industry/ Innovation/ Related News:
November, 2017- Solvay S.A., a leading global supplier of speciality polymers, unveiled new PEEK product under the brand name Zeniva ZA-600 CF30 viz. 30% carbon fiber-reinforced, radiolucent polymer offered for implantable medical device applications. This product will help implants minimize reduction in bone density by maintaining normal stress on surrounding bone tissue.
April, 2017- UK based Victrex plc., high performance polymers producer acquired Zyex, world leader in PEEK fibres for aerospace, automotive, and industrial market.
December, 2015– Victrex plc planned to invest upto USD one million to build a new PEEK composite facility for unidirectional (UD) tapes for oil & gas and aerospace industry and to set up manufacturing facility for medical trauma plate applications.
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