Global PEEK market is expected
to register growth at CAGR of 7.2% and 8.0% by revenue and sales volume
respectively during 2018-2025F.
The PEEK producers should focus on developing innovative PEEK solutions
for different end user industries. Automotive gears, thermal and acoustic
aircraft insulation blankets, pipes for oil and gas industry and dental
implants are some of the upcoming applications of PEEK in the different
industries.
Europe is expected to be the biggest market for PEEK by 2025. Growing
demand of electronic and automatic vehicle, increase in environmental
consciousness in the aerospace industry and technological developments in the
electronics industry are expected to drive the market in Europe.
PEEK markets in South Korea, Japan and France are expected to grow at the
fastest pace on the basis of sales volume with a CAGR of 9.0%, 8.9% and 7.8%
respectively during 2018-2025F.
Advent of 3D printing Technology: 3D printing also known as
additive manufacturing, has been gaining traction in the medical, aerospace and
industrial manufacturing industry. Development of industrial and medical grade
PEEK filaments for 3D printing will drive the demand of PEEK in these
industries in the coming years.
Shifting End-User Preference towards PEEK: With increasing
technological development, PEEK is replacing metals such as titanium, aluminum,
steel, nickel, chromium and also other engineering plastics such as PPS, PTFE,
Nylon 66, PAI, PEI, PLA, PVF and others in oil & gas, aerospace &
defense, electronics & electrical, automotive, medical and food processing
industries. For instance, carbon or glass reinforced grades of PEEK are replacing
PTFE in seals and back-up rings application and it is also used to replace the
conventionally used titanium tubes in aircraft tubing systems, for instance,
PFW Aerospace selected VICTREX Pipes for the cargo drainage system on the
Airbus A350 XWB.
Increase in Competition: Increase in number of
expiring patents of Victrex PEEK and increase in global PEEK production
capacity ensures availability of cheaper PEEK grades, which will eventually
increase the demand of PEEK in various end user industries.
Technological Development in Automotive Industry: Development of electronic
vehicles and automated vehicles has necessitated the demand of light weight,
self lubricating and high performance material PEEK. With surge in demand of
electric vehicle, the demand of PEEK is also expected to increase.
Increase in Demand for Technologically Advanced
Consumer Goods: Increase in standard of living has increased the demand for
technological advanced and expensive consumer goods. For instance, Dyson
hairdryers and vacuum cleaners have PEEK impeller which makes it sound proof
and enhances the consumer experience. Mentor Optical have developed PEEK
optical frame with Evonik’s VESTAKEEP PEEK known as Plasteel Eyewear. The
Eyewear weighs just 9 grams whereas traditional frames weigh as much as 23
grams, thereby offering the highest wear comfort for the user.
Analysts at Ken Research in
their latest publication “Global
PEEK Market Outlook to 2025- By Type (Glass Filled, Unfilled and Carbon
Filled), By Application (Oil & Gas, Electronics & Electrical, Aerospace
& Defense, Automotive, Medical and Others) and By Region (Europe,
Asia-Pacific, North America, South America and MEA)” observed that
the Global PEEK market will grow owing to multitude of factors namely increase
in competition and global PEEK production capacity, shifting end-user
preference towards PEEK, introduction of electric vehicles, increase in use of
automated vehicles, development in 3D printing technology, regulation regarding
CO2.
Key Segments Covered:-
By Type
Glass Filled
Unfilled
Carbon Filled
By Application
Oil & Gas
Compressor Components
(Valve Plates and Valve Rings, Motor End Plates, and Piston Rings, Rider Bands,
and Rod Packing)
Backup Seals and
Backup Rings
Under the Sea
Electrical Applications (Connector Pins, Wire Coatings, Housing and others)
Pipes Application
(Pipe precursor, Pipe Laminate and Pipe Connectors)
HPLC Units (High
Performance Liquid Chromatography Units includes Tubing and Fittings)
Others
(Umbilical, Pump Housing, Wellhead Seals And Connectors, Wire Bundle Clamps,
Gas Separation Gears, Impellers, Industrial Hoses, Jumpers, Magnet Wire, Tags,
Sensors Slick Line Components, Slot Liners, Thrust Washers, Tubular and others)
Electronics & Electrical
Semiconductor Wafer
Production and Testing Units (Wafer Carriers, Wafer Handler Arm, Wafer
Polishing Rings, Testing Sockets and Other Components)
Speakers Components
(Spiders, Acoustic Diaphragms, Coils, and Front Suspensions)
Impellers in Vacuum
Cleaner and Hairdryers
Compressor in
Refrigerators and AC
Acoustic Membrane and
Electromechanical Components in Mobile Phones
Others (Printer
components including heat roller gears,
guide claws and bushings, sensors, Three-dimensional circuit carriers in LED,
xenon HID lights, Motor end caps, ECU housings, Bobbins and solenoids,
Connectors, Circuit protection/relays, Actuator housings, Li-Ion battery
systems, Fuse boxe and others)
Aerospace & Defense
Brackets, Clamps,
Stand-offs & Fasteners
Interior Hardware (Floor
supporting structure, Passenger Service Units including screen dragging unit,
oxygen components, inside seat arm handle and others)
Thermal & Acoustic
Aircraft Insulation Blankets
Tubing
Others (Wire Harness and
Connectors, Drink Dispensers, Doors and Windows, Coatings and others)
Automotive
Seals, Thrust
Washers, Bushings And Bearing Cages
Braking System
Gears
PEEK Composites
and Others (Under-The-Hood Piston Units, Housing, Enclosures, Air-Conditioning
Systems and others)
Medical
Spinal Implant
Dental Implant
Others (Ortho And Trauma
Application Including Knee Implants, Hip Implants, Shoulder Arthroscopy,
Implant Screws, Bone Plates And Others, Instrument In Labels, Delivery
Instruments such as Syringes, Handles On Dental Syringes, Sterile Boxes to Hold
Root Canal Files, Endoscopes, Dialyzers and others)
Others (Food Processing,
Consumer goods, Packaging, Building and construction and others)
By Region:-
Europe
North America
Asia-Pacific
South America
MEA
Countries Covered:-
Germany
France
Italy
UK
US
Canada
China and Taiwan
Japan
South Korea
India
Brazil
Saudi Arabia
Key Target Audience:-
PEEK Producers
PEEK Semi-Finished and
Compound Producers
Producers of Other
Engineering Material
Time Period Captured in the Report:-
Historical Period –
2013-2018
Forecast Period –
2019-2025
Companies Covered in Global PEEK Market:-
PEEK Producers
Victrex
Solvay
Evonik
Jilin Zhongyan High
Performance Plastic
Panjin Zhongrun High
Performance Polymer
PEEK Compounds or Semi Finished Good Producers
Saudi Basic Industries
Corporation (SABIC)
Ensinger
Mitsubishi Chemical
Advanced Materials (MCAM)
Rochling Group
Celanese
LATI Thermoplastic
Industries
For More Information on
the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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