ALBANY, New York, February 28, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled
"Polyetheretherketone (PEEK) Market for Automotive,
Industrial, Aerospace, Electrical & Electronics, Medical
and Other Applications - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast,
2016-2024." According to the report, the
global polyetheretherketone market was valued at US$ 451.5 Mn in 2015 and is projected to reach
US$ 832.6 Mn by 2024 at a CAGR of
7.1% from 2016 to 2024.
PEEK is a semi-crystalline, high-performance thermoplastic
polymer belonging to the polyaryletherketone (PAEK) family. PEEK
has outstanding mechanical, thermal, tribological and chemical
resistance properties. Further, the polymer is bio-compatible and
can be molded using conventional plastic processing techniques such
as injection molding, extrusion and compression molding. PEEK is
generally used in specialty applications in the automotive,
industrial, aerospace, electrical & electronics and medical
industries. The mega trends of light weighting and metal
substitution is likely to fuel the demand for PEEK during the next
decade.
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In terms of application, electrical & electronics was the
largest segment of the PEEK market, accounting for more than 25%
share in terms of revenue in 2015. The growing trend of
miniaturization of electronic devices necessitates the use of
plastics having very high temperature resistance and mechanical
strength. This factor is anticipated to drive PEEK usage in the
electrical & electronics industry during the forecast period.
The aerospace segment was projected to grow at a speedy CAGR of
8.4% due to rapid growth in the number of aircrafts manufactured
across the world. The industrial, automotive and medical
application segments were also anticipated to provide lucrative
opportunities during the forecast period
The consumption of PEEK was higher in industrialized countries
such as U.S, Germany, Japan and South
Korea. Europe dominated the
PEEK market accounting more than 35% of the total market share in
2015. Asia Pacific is projected to
grow at the fastest rate during the next decade with a CAGR of
7.6%. Middle East &
Africa & Latin America were also anticipated to grow at
fast rates albeit from very low base volumes.
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The global polyetheretherketone market is dominated by a single
company, Victrex plc that accounted for more than 60% of the market
share in 2015. Other PEEK producers are Solvay SA, Evonik
Industries, Panjin Zhongrun High Performance Polymers Co. Ltd. and
Jilin Zhongyan High Performance Engineering Plastic Co., Ltd.
The report segments the global Polyetheretherketone as
follows:
Polyetheretherketone Market: Application
Analysis
- Automotive
- Industrial
- Aerospace
- Electrical & Electronics
- Medical
- Others
Polyetheretherketone Market: Regional
Analysis
- North America
- Europe
- U.K
- Italy
- Spain
- France
- Germany
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
Rest of MEA
Browse Other Related Market Research Reports:
- Methyl Ethyl Ketone Market:
http://www.transparencymarketresearch.com/methyl-ethyl-ketone.html
- Global Ketone Market:
http://www.transparencymarketresearch.com/ketone-market.html
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Transparency Market Research (TMR) is a global market
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and trend analysis provides forward-looking insight for thousands
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and research material for business reports.
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SOURCE Transparency Market Research