PEEK Market Size & Share | Polyetheretherketone (PEEK) industry to reach USD 1,225.7 by 2027
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Market Size – USD 721.4 Million in 2019, Market Growth - CAGR of 6.8%, Market Trends –Increasing demand from the automotive industry
VANCOUVER, BC, CANADA, April 28, 2022 /EINPresswire.com/ -- The global PEEK market is projected to be worth USD 1,225.7 Million by 2027, according to a current analysis by Emergen Research. The PEEK (Polyether Ether Ketone) market is observing a high demand attributed to its increasing demand from the automotive industry. A growing emphasis on safety standards and eco-friendliness is a critical factor driving the demand for PEEK in the automotive industry, which consistently focuses on reducing manufacturing costs and improving efficiency and durability to provide prolonged warranties. The growing necessity for automotive weight reduction, fueled by the need to have better mileage and lower carbon dioxide emissions, are causative of the miniaturization of the automotive component and modules and functional incorporation.
The latest market research report on PEEK market, samples and measures quality data on the overall business environment for the forecast period 2017-2027. Comprehensive data on growing investment pockets evaluated in the report on Polyether Ether Ketone market are powered and backed by human answers. Comprehensive coverage of aspects such as market potential, size, share, and growth aims at creating an equation for profitability- whether stakeholders, business owners, and field marketing executives need to understand their market foothold
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Leading Companies of the PEEK Industry and Profiled in the Report are:
Celanese Corporation, Solvay SA, Darter Plastics Inc., Evonik Industries, Prototype & Plastic Mold Co. Inc., SABIC, Victrex PLC, Panjin Zhongrun High Performance Polymers Co. Ltd., Jrlon Inc., and Quadrant Epp Surlon India Ltd., among others.
Some Key Highlights from the Report
PEEK plastic gives a maximum weight saving of 80.0% than metals. The lightweight characteristic, along with low friction and wear rate and exceptional resistance to corrosion, can enhance the total transmission efficiency.
Peek Polymers maintains its physical form and physical characteristics under tremendously high temperatures up to 480 degrees Centigrade. It is approved by the FDA for use in the food & beverage industry. Also, it is resistant to harsh chemicals and emits significantly less amount of toxic-gases.
Europe contributed to significant market share in 2019 attributed to stringent regulatory policies and technological innovations in the aerospace and automotive industries.
In October 2019, Solvay launched KetaSpire® PEEK XT, which provides the benefits of standard PEEK’s chemical resistance and improved strength and rigidity at higher temperatures.
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Emergen Research has segmented the global PEEK market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Glass Filled
Carbon Filled
Unfilled
Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Online
Offline
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Electrical & Electronics
Aerospace
Automotive
Medical
Oil & Gas
Others
Regional Analysis:
The report sheds light on the region expected to dominate the PEEK market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the PEEK market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of PEEK Market:
Extensive coverage of the analysis of the PEEK market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the PEEK market
Complete data about the key manufacturers and vendors in the PEEK market
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