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.
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.
Note: This taxonomy is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Polyaryletherketone (PAEK) Market – Scope Of The Report
The following report provides forecast and analysis of the global polyaryletherketone (PAEK) market along with the historical data of 2013, estimated data of 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global polyaryletherketone (PAEK) market along with several macro-economic indicators.
This newly published and insightful report on polyaryletherketone (PAEK) sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global polyaryletherketone (PAEK) market.
The report also comprises the study of current issues with end users and opportunities for polyaryletherketone (PAEK). It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of polyaryletherketone (PAEK) manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the polyaryletherketone (PAEK) market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for polyaryletherketone (PAEK) has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous polyaryletherketone (PAEK) manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the prominent competitors operating in the polyaryletherketone (PAEK) market are Victrex Plc, Solvay S.A., Quadrant AG, Caledonian Industries Ltd. Evonik Industries AG, Arkema SA and others.
Global Polyaryletherketone (PAEK) Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the polyaryletherketone (PAEK) market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the polyaryletherketone (PAEK) market, which includes global GDP growth rate, various industries growth rate, such as the automotive, manufacturing, and medical sector.
This report serves as an authentic resource of intelligence on the polyaryletherketone (PAEK) market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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