Global Polyether Ether Ketone (PEEK) Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Polyether Ether Ketone (PEEK) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global polyether ether ketone (PEEK) market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global polyether ether ketone (PEEK) market size reached US$ 825 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1235 Million by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.
Polyether ether ketone (PEEK) is a high-performance thermoplastic polymer celebrated for its superior mechanical characteristics and ability to withstand harsh environmental conditions. This lightweight material demonstrates remarkable resilience to ionizing radiation, making it a top choice in various industries. PEEK boasts heightened toughness and chemical resistance, enabling it to thrive in high-temperature environments, rendering it invaluable across industrial applications. Its minimal moisture absorption and minimal thermal expansion ensure consistent, precise performance. Even when exposed to aggressive chemicals, PEEK maintains its structural integrity. Its augmented lubricity aids in minimizing friction and wear in moving components. Consequently, PEEK enjoys widespread utilization in the aerospace, automotive, electronics, healthcare, oil and gas, and food and beverage (FB) sectors worldwide.
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Global Polyether Ether Ketone (PEEK) Market Trends and Drivers:
Currently, the market for PEEK is experiencing significant growth driven by several key factors. One of these factors is the expanding use of PEEK in medical implants, dental devices, and surgical instruments, thanks to its exceptional biocompatibility. This trend is a major contributor to market expansion. Additionally, the increasing adoption of PEEK in applications like bearings, seals, and sliding components to reduce friction is further bolstering market growth. Furthermore, the electronics industry is increasingly turning to PEEK due to its ability to withstand high voltages, which is positively impacting the market. Moreover, the aerospace sector is embracing PEEK for aircraft components to reduce weight and improve fuel efficiency, thereby contributing to market expansion. The oil and gas industry is also a significant player in the PEEK market, with a growing demand for PEEK to ensure the reliable performance of critical equipment. This global application is a strong driver of market growth. Additionally, the rising need for corrosion-resistant materials in chemical processing and water treatment applications is creating lucrative opportunities for investors in the industry. The proliferation of wind turbines and solar panels worldwide is another factor propelling market growth, as PEEK is used in these applications. Lastly, the increasing adoption of PEEK in power generation, transmission, and distribution equipment is offering a promising outlook for the market.
Global Polyether Ether Ketone (PEEK) Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
BARLOG plastics GmbH, Caledonian Industries Ltd., Ensinger GmbH, Evonik Industries AG, J.K. Overseas, Pan Jin Zhongrun High Performance Polymer Co. Ltd., Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay SA, Victrex plc, etc.
The report segmented the market on the basis of region, type and end use industry.
Breakup by Type:
- Carbon-filled
- Glass-filled
- Unfilled
Breakup by End Use Industry:
- Aerospace
- Automotive
- Electrical and Electronics
- Industrial and Machinery
- Medical
- Others
Breakup By Regions:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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