The global Polyether ether ketone (PEEK) market stood at approximately 12 million tonnes in 2022 and is expected to grow at a CAGR of 3.67% during the forecast period until 2035. In 2022, Victrex plc began commissioning a new PEEK manufacturing plant in China which will begin operating in 2023 with an annual production capacity of 1500 tonnes of PEEK.
PEEK is a polyaromatic semi-crystalline, high-performance engineering thermoplastic, which belongs to the polyaryletherketone family. PEEK polymer is derived from step-growth polymerization by the dialkylation of Bisphenolate salts. It can be synthesized by using nucleophilic substitution of 4,4’-difluorobenzophenone or 1,4-bis(4-fluorobenzoyl) benzene with hydroquinone in the presence of Alkali carbonate under microwave irradiation to produce a good yield. Polyether Ether Ketone can be processed by using conventional method such as injection moulding, extrusion and compression monofilament. PEEK being processed by advanced 3D printing technology extends possible applications from patient-specific hearing aids to other surgical aids or instruments.
In comparison to other polymers, PEEK exhibits better properties, like resistance to chemicals, chemically inert and being insoluble in all solvents, resistance to high temperature, lightweight nature, generate extremely low toxic gas and smoke, biocompatible, bioresorbable, etc. The PEEK molecule is very stable in nature due to which it can be reprocessed with the least changes to its properties. This reduces the environmental impact and ensures that waste material from manufacturing processes can be re-used economically. PEEK polymers can withstand even harsh environments. This light thermoplastic polymer can support numerous requirements in various industries and has the tendency to replace metals.
Polyether Ether Ketone has gained popularity in various industries such as aerospace, automotive, electrical and electronics, medical, etc. PEEK polymers can replace Aluminium and other metals in several aircraft components in the aerospace market. It is also used in critical engines, aircraft exterior and interior parts providing excellent resistance to high temperature and rain erosion. With the increasing trend of small engine compartments. In the automotive market, PEEK offers weight reduction and noise reduction, resulting in the replacement of metals. The main application includes gear designing, washer and other active components used in transmission, braking and air conditioning system. In the medical sector, Polyether Ether Ketone finds application as the material of choice for implants. The global Polyether ether ketone (PEEK) market is anticipated to reach approximately 19 million tonnes by 2035.
The region with the biggest demand for Polyether ether ketone (PEEK) worldwide is Europe and held a market share of around 45% of the world's Polyether ether ketone (PEEK) market in the year 2022. In Europe, the key market drivers being the application of PEEK in the aerospace, automotive and medical sectors in major countries such as Belgium and Germany. Meanwhile, APAC is the second largest consumer of PEEK but leads in terms of producing PEEK, with China being the biggest shareholder.
Based on the end-user industry, the Polyether ether ketone (PEEK) market is segmented into Aerospace, Automotive, Medical Implants, Electronics and Electricals, and Others. Among these, the Aerospace Industry is the leading segment and held approximately 42% of the market in 2022 and is anticipated to dominate the market even in the forecast period.
Significant companies for Global Polyether ether ketone (PEEK) market are Victrex plc., Jida Evonik High Performance Polymers, Panjin Zhongrun High Performance Polymers Co. Ltd., Jilin Joinature Polymer Co., Ltd., Daicel-Evonik Ltd., Oxford Polymers, Victrex JV, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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The objective of the Study:
•To assess the demand-supply scenario of Polyether ether ketone (PEEK), which covers the production, demand, and supply of Polyether ether ketone (PEEK) around the globe.
•To analyze and forecast the market size of Polyether ether ketone (PEEK).
•To classify and forecast the Global Polyether ether ketone (PEEK) market based on end-use and regional distribution.
•To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Polyether ether ketone (PEEK) market.
To extract data for the Global Polyether ether ketone (PEEK) market, primary research surveys were conducted with Polyether ether ketone (PEEK) manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Polyether ether ketone (PEEK) market over the coming years.
ChemAnalyst calculated Polyether ether ketone (PEEK) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Polyether ether ketone (PEEK) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyether ether ketone (PEEK) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyether ether ketone (PEEK) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyether ether ketone (PEEK) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyether ether ketone (PEEK) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
12 million tonnes
Market size Volume by 2035
19 million tonnes
Growth Rate
CAGR of 3.67% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Capacity by Technology, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By End-Use: (Aerospace, Automotive, Medical Implants, Electronics and Electricals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Polyether ether ketone (PEEK).
2. Capacity By Location
To better understand the regional supply of Polyether ether ketone (PEEK) by analyzing its manufacturers' location-based capacity.
3. Capacity By Technology
To better assess the manufacturing capacities with different technologies as well as understand which technology is more in demand.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Polyether ether ketone (PEEK) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Aerospace, Automotive, Medical Implants, Electronics and Electricals, and Others) are creating a market and the forecast for the growth of the Polyether ether ketone (PEEK) market.
7. Demand by Region
Analyzing the change in demand of Polyether ether ketone (PEEK) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Polyether ether ketone (PEEK). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Polyether ether ketone (PEEK).
10. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of polyether ether ketone (PEEK) market in terms of value and volume.
10. Company Share
Figure out what proportion of the market share of Polyether ether ketone (PEEK) is currently held by leading players across the globe.
11. Country-wise Export
Get details about quantity of Polyether ether ketone (PEEK) exported by major countries.
12. Country-wise Import
Get details about quantity of Polyether ether ketone (PEEK) imported by major countries.
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What was the global market size of Polyether ether ketone (PEEK) in terms of volume for 2022?
Ans:
The global market size of Polyether ether ketone (PEEK) was approximately 12 million tonnes in 2022, and it is expected to soar with a CAGR of 3.67% in the forecast period.
Q2.
What are the major end-use industries of Polyether ether ketone (PEEK)?
Ans:
Polyether ether ketone (PEEK) is used in a wide range of end use industries Aerospace, Automotive, Medical Implants, and Electronics and Electricals.
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