The global Polyether Ether Ketone (PEEK) market is expected to grow at a staggering CAGR during the forecast period. Polyether ether ketone is a semi crystalline thermoplastic with high tensile strength, good wear, excellent chemical resistance, and low moisture absorption. This enables useful properties and an ability to retain itfor a long period under high temperature. Mechanical stresses and extreme environmental conditions enable polyether ether ketone a great choice for several applications.
Electrical properties of polyether ether ketone remains uninfluenced by moisture under ideal conditions. Consequently, polyether ether ketone displays excellent dielectric properties and dimensional stability. Polyether Ether Ketone market is driven by rise in environmental issues mainly in the aerospace industry owing to features such as lightweight, durability, and temperature performance. In addition, hazardous effects of pollution and polluting factors from automobiles have encouraged industry participants to automotive light weighting that involves fabrication of alternative components.
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Product segmentation for polyether ether ketone (PEEK) market comprises unfilled, glass filled and carbon filled. Application category for polyether ether ketone industry consists of medical electronics, electrical and aerospace. Automotive applications hold a larger share in the overall global consumption. Medical electronics and application category is predicted to have a faster growth during the forecast period.
Geographical segmentation for PEEK market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. North American and European market is likely to have a collective share in the global market owing to stringent norms and regulations coupled technological advances in the aerospace and automotive domain. The market reports steady growth in the industrial sector along with rising awareness pertaining to the benefits offered. Asia-Pacific regions have gained a tremendous importance in regards to the growth aspects in the global market.
The key players profiled in the polyether ether ketone (PEEK) industry report are Evonik Industries AG, Victrex Plc, Mitsubishi Chemical Corporation, Stern Industries Inc, A. Schulman Inc, LATI Industria Thermoplastici S.p.A, Polyone Corporation and Saudi Basic Industries Corporation.
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