Industry Background:
Polyether Ether Ketone (PEEK) is refer as semi crystalline thermoplastic, which is been thermally stable an inert. It is used to manufacture various interior and exterior components in the automotive and aerospace industries. The most valued properties of PEEK are its high heat resistance, light weight, high dimensional stability, and high chemical resistance. It melts at high temperature as compared to the thermoplastic.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Victrex plc (United Kingdom), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Panjin Zhongrun High Performance Polymers Co. Ltd., (China), Celanese Corporation (United States), SABIC (Saudi Arabia), RTP Company (United States), Ensinger (Germany), PolyOne Corporation (United States) and A.Schulman (United States) |
CAGR | 5.3% |
According to AMA, the market for Polyether Ether Ketone is expected to register a CAGR of 5.3% during the forecast period to 2027. This growth is primarily driven by There is growing demand of PEEK in aerospace and aviation industry. In the aerospace industry, it is important to use materials that are fire retardant and emit less smoke & toxic gases in case of fire. PEEK fulfills these important requirements, resulting in its high demand in the aerospace industry..
Globally, a noticeable market trend is evident Replacement of metals and other conventional materials by PEEK. Major Vendors, such as Victrex plc (United Kingdom), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Panjin Zhongrun High Performance Polymers Co. Ltd., (China), Celanese Corporation (United States), SABIC (Saudi Arabia), RTP Company (United States), Ensinger (Germany), PolyOne Corporation (United States) and A.Schulman (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2016, Celanese Corporation signed an acquisition agreement with SO.F.TER Group (Italy), one of the world’s largest thermoplastic compounder manufacturers. This acquisition helped the company in bringing technical expertise, production, and compounding capabilities for its products, and extended its footprint in Mexico, Brazil, Italy, and the U.S.
Market Drivers
- There is growing demand of PEEK in aerospace and aviation industry. In the aerospace industry, it is important to use materials that are fire retardant and emit less smoke & toxic gases in case of fire. PEEK fulfills these important requirements, resulting in its high demand in the aerospace industry.
Market Trend
- Replacement of metals and other conventional materials by PEEK
Restraints
- High price of PEEK as compared to conventional materials
- Increasing competition from hybrid polymers and composites
Opportunities
Emerging applications for PEEK
Challenges
Challenging processing conditions and Global economic slowdown
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Polyether Ether Ketone Study Sheds Light on
The Polyether Ether Ketone Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Polyether Ether Ketone industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Polyether Ether Ketone industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.