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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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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