The global polyaryletherketone (PAEK) market size is expected to reach USD 1.50 billion by 2025,
at a CAGR of 8.3% from 2017 to 2025, according to a report by Grand View
Research, Inc. Rising demand for PAEK owing to its superior properties
including high electrical strength, low permeability, good energy radiation
resistance, and outstanding chemical resistance is expected to augment the
industry size over the forecast period.
Consumption of polyetherketoneketone (PEKK)
has been on a rise as it offers various properties such as inherent flame
retardancy, compressive strength, and wear and creep resistance. This is
expected to increase its demand in dental tools, body implants, and drug
delivery in medical applications.
The medical application segment accounted
for 9.6% of the overall revenue in 2016 and is expected to witness strong
growth on account of high usage of polyether ether ketone (PEEK) in the spinal
area, anterior cervical corpectomy and fusion, rotator cuffs and shoulder
labrum repair, maxillofacial defects, and dental work. Increasing demand for
implants and nonmetal dental disc and sterilizing hardware in the medical
sector is expected to augment PAEK demand.
Full research report on polyaryletherketone (PAEK) market analysis: https://www.grandviewresearch.com/industry-analysis/polyaryletherketone-paek-market
Further key findings from the report suggest:
·
PEEK polymer is anticipated to witness
significant volume gains with a predicted CAGR of 7.6% from 2017 to 2025. This
is attributed to rising consumption in the automotive, medical, oil and gas,
and aerospace industries. PEEK find application in products including bearings,
electrostatic, cookware, industrial coatings, and body implants
·
Asia Pacific has a strong customer base and
accounted for 20.3% of the overall revenue in 2016. The automotive sector in
Japan is one of the most prominent and significant industries in the world.
Presence of key automobile companies, including Toyota, Honda, Daihatsu,
Nissan, and Suzuki, is projected to have a positive impact on this market
·
Increased penetration of aircraft
manufacturers in China, along with rising government investments in R&D, is
expected to drive the aerospace sector in the country, which will propel
expansion of the market for PAEK
·
Key players dominating the PAEK market are
Victrex Plc., Evonik Industries AG, Gharda Chemicals Ltd., Caledonian
Industries Ltd., JK Overseas, Solvay S.A., and Arkema Group. Product innovation
is expected to remain a critical success factor for industry participants in
future
·
In February 2017, TxV Aero Composites, a
joint-venture between Victrex Plc. and Tri-Mack Plastics Manufacturing
Corporation, was formed to accelerate commercial adoption of PAEK composites in
the aerospace industry
·
In September 2017, Solvay S.A. announced it
will produce high-performance polyether ether ketone (PEEK) polymers in U.S. in
early 2018. This is to support its composite materials business so as to
address rising demand in the aerospace industry. The company will commence
production under the trade name NovaSpire at its site in Georgia, U.S.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/bulk-chemicals
Grand View Research has segmented the polyaryletherketone
(PAEK) market on the basis of product, application, and region:
Polyaryletherketone Product Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
Polyether ether ketone (PEEK)
·
Polyetherketone (PEK)
·
Polyetherketoneketone (PEKK)
·
Others
Polyaryletherketone Application Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
Automotive
·
General Engineering
·
Aerospace
·
Electricals & Electronics
·
Medical
Polyaryletherketone Regional Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
·
Europe
o Germany
o U.K.
·
Asia Pacific
o China
o India
·
Central & South America
o Brazil
·
Middle East & Africa
Access press release
by Grand View Research: https://www.grandviewresearch.com/press-release/global-polyaryletherketone-paek-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
http://www.grandviewresearch.com
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