Polyaryletherketone (PAEK) Market
Polyaryletherketone (PAEK) Market By Type (PEK , PEEK , PEKK, Others (PEEKK, PEKEKK)), By End UseIndustry (Aerospace, Automotive, Electronics, Energy, Manufacturing, Medical Devices), By Region - Global Market Insights 2019 to 2027
Polyaryletherketone (PAEK) Demand to Soar with New Potential Applications
The global market for polyaryletherketone (PAEK) is estimated to grow at an impressive CAGR of over 6% during the forecast period (2019-2027) to reach a valuation of over US$ 1.4 Bn.
The utilization of polyaryletherketone (PAEK) is proliferating in several applications and oil drilling components such as compressor rings, seals, bearings, gears, wire coatings, and valve parts. Due to its high glass transition temperature property, increased use of polyetheretherketone (PEEK) in the aerospace industry is projected to heighten demand worldwide.
Manufacturing additives using polyaryletherketone (PAEK) is a relatively new industry that has been gathering momentum over the last few years. Due to its high glass transition temperature property, increased use of polyetheretherketone (PEEK) in the aerospace industry is projected to develop market demand worldwide.
In addition, this market is witnessing a bullish run due to the use of polyaryletherketone (PAEK) in shoulder labrum repair, maxillofacial defects and spinal abnormalities in the medical sector. For various dental technology applications like dental implant systems including healing caps and temporary abutments, polyaryletherketone (PAEK) is being utilized as an alternative to metal.
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PEEK Segment Witnessing Accentuated Growth on Back of High Thermal and Chemical Stability
Advances in the metallurgical sector have produced several polymers with relatively better or comparable properties. Over 80% of materials in the polyaryletherketone (PAEK) family polymers are polyetheretherketone (PEEK) with other members being PEKK and PEKEKK.
Importantly, PEEK are ideally suitable for extreme and demanding environments. Due to the relatively superior chemical properties facilitating durability, Polyether ether ketone (PEEK) is witnessing an increase in adoption in various applications. Polyetheretherketone (PEEK) is widely being used for applications with high temperatures that requires an amalgamation of superior chemical, thermal and combustion properties.
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A Robust Automotive Industry Boosting Market in Europe
Collectively, Europe and North America hold a controlling share in the global polyetheretherketone (PEEK) market. Europe is the global leader in polyaryletherketone (PAEK) with a market share of more than 35%.
Besides being a private investor in research and development (R&D), the automotive industry acts as a force multiplier in the widespread use of polyaryletherketone (PAEK) Technological advances in the manufacturing of automobiles and aerospace is expected to increase demand for polyaryletherketone (PAEK).
Steady growth in the industrial sector in Europe and increased awareness of the benefits associated with the use of polyaryletherketone (PAEK) is heralding an era of robust growth in some applications during the forecast period.
Moderately Fragmented Market Structure and Extensive Capital Investments will Keep Manufacturers Piqued
The market for Polyaryletherketone (PAEK) is moderately fragmented, with top competitors including Victrex PLC, Solvay S.A. And Zyex Ltd as the top shareholders. Because of the strict registration processes and extensive capital investment requirements, moderate to high entry barriers are likely to trigger extensive competition between manufacturers of polyaryletherketone (PAEK). Some of the key developments in the market are:
- In 2019 Solvay began operating its latest “Veradel PESU” line of polyaryletherketone (PAEK) at its Indian factory. The company is increasing capacity primarily for the healthcare and water treatment industries to meet significant end use demand
- In 2018, Victrex and Exeter University successfully collaborated for making the polyaryletherketone (PAEK) additive manufacturing opportunities a reality. The aim is to introduce polyaryletherketone (PAEK) polymers and composites of the next generation, while improving the performance of the underlying processes.
Emerging players in the polyaryletherketone (PAEK) market are forming strategic agreements with regional distributors and providing technological expertise for the automotive and electronic sectors.
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Global Polyaryletherketone (PAEK) Market: In-Depth Assessment on Key Segments
The global polyaryletherketone (PAEK) market is segmented on the basis of type, end-use industry and region.
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