Global polyether ether ketone (PEEK) market was valued at US$ 452.0 million in 2016, according to Polyether Ether Ketone (PEEK) Market, by Product Type (Glass-filled, Carbon-filled, and Unfilled), by Applications (Automotive, Aerospace, Electrical & Electronics, Medical, Oil & Gas, and Others), published by Coherent Market Insights. The polyether ether ketone (PEEK) market is expected to exhibit a CAGR of 9.2% over the forecast period (2017-2025) to reach US$ 986.4 million by 2025.
PEEK has various properties such as high tensile strength, flexural strength, creep resistant, and high electrical and heat resistant properties. PEEK is widely used in the electrical and electronics industry for making parts such as special heat resistant bearing, gears, insulation patches, high temperature connectors, and mobile phone components. Increasing demand for parts made of PEEK material is expected to drive growth of the polyether ether ketone market. PEEK has high application in the automotive industry. This is due to increasing use of PEEK in automobile parts such as engine, gaskets, transmission rings, friction rings, and thrust washers is another factor expected to drive growth of the market over the forecast period.
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Browse 250 market data tables* and 90 figures* on "Polyether Ether Ketone (PEEK)” - Global forecast to 2025.
Key Trends and Analysis of Polyether Ether Ketone (PEEK) Market:
Among product type, glass-filled PEEK segment is expected to hold dominant position in the market over the forecast period, registering a CAGR of 8.3% and projected to be valued at US$ 735.0 million by 2025. This is due to addition of glass fibers that reduces the expansion rate and increase the flexural modulus of PEEK. Such factors improve the stiffness, stability, and strength of the PEEK.
Among applications, electrical and electronics segment is expected to hold dominant position over the forecast period, followed by automotive and medical applications. This is owing to PEEK’s high temperature resistant and mechanical properties that find its application in manufacturing of electronic devices such as mobile phones, computer components, and others.
Key Takeaways of the Market:
Some of the major players operating in the global polyether ether ketone (PEEK) market are Zyex Ltd., Solvay S.A., Victrex plc, Caledonian Industries Ltd., Panjin Zhongrun High Performance Polymers Co. Ltd., Quadrant EPP Surlon India Ltd., Evonik Industries AG, and Jrlon Inc.
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