Polyether Ether Ketone Market Overview:
Polyether ether ketone (PEEK) is an inert semi-crystalline thermoplastic and a thermally stable polymer. It has applications in the fields of nuclear interface, aerospace, temperature resistance, medical implants, etc. It has specific properties such as resistance to high temperatures, resistance to hydrolysis, self-lubrication, easy processing and high mechanical resistance. PEEK produces small amounts of smoke or toxic gases when exposed to a flame. It melts at a relatively high temperature relative to other thermoplastics and the melting temperature range can be processed using injection molding, extrusion, spray-forming or pressing processes.
Polyether Ether Ketone (PEEK) Market Size and Growth Rate:
According to our research report, the Polyether Ether Ketone (PEEK) Market is projected to reach USD 663.3 Million by 2022, at a CAGR of 6.4% from 2017 to 2022.
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Polyether Ether Ketone (PEEK) Market Growth Drivers and Restraints:
PEEK has a much lower density than metals. Therefore, design engineers are increasingly using this as a popular substitute for metals in a variety of applications. For example, under strict emission control standards, car manufacturers are forced to adopt lightweight materials. Stimulated by this, the global polyether ether ketone market is expected to show strong growth during the forecast period. In addition, with the growing trend towards miniaturization of electrical appliances, the market is expected to experience lucrative growth opportunities. PEEK maintains its electrical performance even at high frequencies and has a high resistance to high temperatures. These mechanical properties make it ideal for use in the miniaturization of electrical components. In addition, the manufacturers expect to derive a considerable benefit from the growing use of this polymer in the medical sector. PEEK implants in bones offer greater biocompatibility, which makes them more convenient than metal implants.
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Geographical Insights of Polyether Ether Ketone (PEEK) Market:
From the geographic perspective, market for PEEK is segmented into Europe, North America, Latin America, Asia Pacific, and Middle East and Africa regions. Europe and North America gathered most of the global market. The market is expected to grow substantially in the near future, due to its rapid growth and the proliferation of technological innovations to develop new applications. The strong customer base in Europe is also contributing to the growth of this market. However, factors such as the high price of this polymer contradict its cost-based competitiveness, which is expected to slow growth.
Some of the Key Players in Polyether Ether Ketone (PEEK) Market: Solvay, Victrex PLC, Parkway Products Inc., Jida Evonik High Performance Polymers (Changchun) Co. Ltd., A. Schulman AG, Stern Industries Inc., Darter Plastics Inc., Caledonian Ferguson Timpson Ltd, Jrlon Inc., J K Overseas, Panjin Zhongrun High Performance Polymers Co. Ltd, and Prototype & Plastic Mold Co. Inc. are the major players of the market.
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