[Online Quarterly Update] As of 2021, the global Polyether Ether Ketone (PEEK) demand was around 12 thousand tonnes, and the market is expected to advance at a CAGR of 3.4% by 2035.
PEEK is a polyaromatic semi-crystalline, high-performance engineering thermoplastic, which belongs to the polyaryletherketone family. PEEK polymer is derived from step-growth polymerization by the dialkylation of Bisphenolate salts. It can be synthesized by using nucleophilic substitution of 4,4’-difluorobenzophenone or 1,4-bis(4-fluorobenzoyl) benzene with hydroquinone in the presence of Alkali carbonate under microwave irradiation to produce a good yield. Polyether Ether Ketone can be processed by using conventional method such as injection moulding, extrusion and compression monofilament. PEEK being processed by advanced 3D printing technology extends possible applications from patient-specific hearing aids to other surgical aids or instruments.
In comparison to other polymers, PEEK exhibits exceptional properties, for instance, it is resistant to chemicals, chemically inert and insoluble in all solvent, resistant to high temperature, lightweight, creep-resistant, generate extremely low toxic gas and smoke, biocompatible, bioresorbable, etc. The PEEK molecule is very stable in nature due to which it can be reprocessed with the least changes to its properties. This reduces the environmental impact and ensures that waste material from manufacturing processes can be re-used economically. PEEK polymers are well suited for harsh and demanding environments. This light thermoplastic polymer can support numerous requirements at once to address material limitations in applications, frequently replacing metals.
Polyether Ether Ketone is widely regarded as a leading high-performance polymer (HPP) throughout the plastic industry. Metals used to be the materials of choice in the automotive, aerospace, medical devices and other industries but now PEEK polymer is rapidly replacing it by complying with today’s global emission regulations and assiting in reducing CO2 emission through more efficient technology. Polyether Ether Ketone has gained popularity in various industries such as aerospace, automotive, electrical and electronics, medical, etc. PEEK polymers are replacing Aluminium and other metals in several aircraft components in the aerospace market. It is used in critical engines, aircraft exterior and interior parts providing excellent resistance to high temperature, rain erosion, etc. With the increasing trend of small engine compartments. In the automotive market, PEEK offers weight reduction and noise reduction, resulting in the replacement of metals. The main application includes gear designing, washer and other active components used in transmission, braking and air conditioning system. In the medical sector, Polyether Ether Ketone is the material of choice for implants. Almost everywhere in the body, it provides maximum flexibility of movement for patients over an extended basis. Manifesting all these factors, PEEK polymer demand is expected to escalate the market, globally.
Region wise, Europe holds around 48% of the global consumption of Polyether Ether Ketone (PEEK). Germany and Belgium are the largest market in the Europe region with significant development projects and rapidly expanding in aerospace, automotive and medical sectors is a major driver. Rank wise, Asia Pacific comes out to be the second largest region in terms of rising demand from end-user industries. China is one of the largest exporters and consumers of PEEK in the Asia Pacific Region. North America and South America region holds the third & fourth large share of PEEK in terms of demand.
Major leading players of Polyether Ether Ketone (PEEK) market are Solvay S.A., Oxford Polymers, Victrex plc., Jilin Joinature Polymer Co., Ltd., Panjin Zhongrun High Performance Polymers Co. Ltd., Jida Evonik High Performance Polymers, Daicel-Evonik Ltd. and others.
Years considered for this report:
Historical Period: 2015-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2035
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Objective of the Study:
• To assess the demand-supply scenario of Polyether Ether Ketone (PEEK) which covers production, demand, and supply of Polyether Ether Ketone (PEEK) market globally.
• To analyse and forecast the market size of Polyether Ether Ketone (PEEK).
• To classify and forecast Polyether Ether Ketone (PEEK) market based on application, Grade, end-use and regional distribution.
• To identify drivers and challenges for Polyether Ether Ketone (PEEK) market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Polyether Ether Ketone (PEEK) market.
• To identify and analyse the profile of leading players involved in the manufacturing of Polyether Ether Ketone (PEEK).
To extract data for Polyether Ether Ketone (PEEK) market, primary research surveys were conducted with Polyether Ether Ketone (PEEK) manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Polyether Ether Ketone (PEEK) market over the coming years.
ChemAnalyst calculated Polyether Ether Ketone (PEEK) demand globally by analyzing the historical data and demand forecast which was carried out considering imported Polyether Ether Ketone (PEEK), prices, monomers and other raw material used for production of Polyether Ether Ketone (PEEK). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyether Ether Ketone (PEEK) manufacturers and other stakeholders
• Organizations, forums, and alliances related to Polyether Ether Ketone (PEEK) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyether Ether Ketone (PEEK) manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Polyether Ether Ketone (PEEK) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size volume by 2021
12 thousand tonnes
Growth Rate
CAGR of 3.4% from 2022 to 2035
Base year for estimation
2021
Historic Data
2015 – 2020
Forecast period
2023 – 2035
Quantitative units
Demand in Thousand Tonnes and CAGR from 2022 to 2035
End-Use (Aerospace, Automotive, Electronics and Electricals, Medical Implants and Others (Semi-conductor, Energy, etc.))
Sales Channel (Direct Company Sale, Indirect Sale)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Solvay S.A., Oxford Polymers, Victrex plc., Jilin Joinature Polymer Co., Ltd., Panjin Zhongrun High Performance Polymers Co. Ltd., Jida Evonik High Performance Polymers, Daicel-Evonik Ltd. and others.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
12.8.5.6.By Company Share (At least top 3 companies' market share)
13.Country-wise Import
14.Country-wise Export
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What are the major end-use applications of Polyether Ether Ketone (PEEK)?
Ans:
Polyether Ether Ketone (PEEK) is widely used in an array of applications including aerospace, automotive, electronics and electricals, medical implants and others.
Q2.
Which region demands the maximum share in the Polyether Ether Ketone (PEEK) market as of 2021?
Ans:
Polyether Ether Ketone (PEEK) is widely used in an array of applications including aerospace, automotive, electronics and electricals, medical implants and others.
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