The global polyether ether ketone (PEEK) market is expected to reach USD
1.03 billion by 2024, according to a new report by Grand View Research, Inc.
Increasing high-performance plastics demand as a substitute to metals in
automobiles on account of growing need for high efficiency and low weight
materials is expected to drive overall industry demand in near future.
The stringent environmental regulatory framework in developed markets of
the U.S. and Europe has forced the automobile industry participants to use such
an alternative which helps in decreasing fuel consumption by enhancing overall
fuel efficiency. Such regional trends are anticipated to positively impact
global volumes over the forecast period.
Excellent performance features including superior strength and heat
resistance are expected to propel product preference in end-use industries such
as food, medical, aerospace, semiconductors and packaging sectors.
Glass filled was the major product segment and accounted for
approximately 44.9% of total market volume in 2015. The product finds
application in industrial, electric & electronics applications. Carbon
filled is anticipated to witness at the highest CAGR from 2016 to 2024.
In depth research report on Polyether Ether
Ketone (PEEK) Market
Further key findings from the report suggest:
·
The global
PEEK market demand was 5,048.2 tons in 2015 and is expected to exceed 10,000
tons by 2024, growing at a CAGR of 8.5% from 2016 to 2024
·
Automotive
emerged as the leading consumer of PEEK and accounted for 28.1% of total volume
in 2015. It is also expected to witness the highest growth of 9.4% over the
forecast period. Increasing need for a highly efficient material which will
help in reducing fuel consumption resulting in lower emission levels is
expected to drive this segment.
·
The product is
widely used for industrial applications including packaging, textile, and
printing. Growing waste disposal concerns coupled with strict environmental
regulations related to packaging is anticipated to positively impact PEEK
demand in industrial applications.
·
Europe was the
leading regional market and with demand share estimated at 54.2% in
2015.Stringent environmental regulatory framework to curb overall weight of
automobiles is expected to drive the regional market.
·
Asia Pacific
is expected to witness the highest growth of 14.0% on account of
industrialization in China and India coupled with growing environmental
concerns including noxious VOC emission levels.
·
Key companies
include Zyex Ltd, Tri-Mack Plastics Manufacturing Corp., Caledonian Ferguson
Timpson Ltd, Prototype & Plastic Mold Co. Inc., Victrex Plc, Darter
Plastics Inc., J.K. Overseas, A. Schulman AG, Jida Evonik High-Performance
Polymers (Changchun) Co. Ltd and Stern Industries Inc.
Grand View Research has segmented the PEEK market on the basis of
product, application and region:
Global Polyether Ether Ketone (PEEK) Product
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
·
Unfilled
·
Carbon filled
·
Glass filled
Global Polyether Ether Ketone (PEEK)
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
·
Medical
·
Automotive
·
Aerospace
·
Industrial
·
Electricals
& electronics
Global Polyether Ether Ketone (PEEK) Regional
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S
o
Canada
·
Europe
o
Germany
o
UK
o
France
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
o
Taiwan
·
Central &
South America
o
Brazil
·
Middle East
and Africa
o
Saudi Arabia
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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