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:-
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
Others (Wire Harness and Connectors, Drink Dispensers, Doors and Windows, Coatings and others)
Seals, Thrust Washers, Bushings And Bearing Cages
PEEK Composites and Others (Under-The-Hood Piston Units, Housing, Enclosures, Air-Conditioning Systems and others)
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)
China and Taiwan
Key Target Audience:-
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:-
Jilin Zhongyan High Performance Plastic
Panjin Zhongrun High Performance Polymer
PEEK Compounds or Semi Finished Good Producers
Saudi Basic Industries Corporation (SABIC)
Mitsubishi Chemical Advanced Materials (MCAM)
LATI Thermoplastic Industries
For More Information on the research report, refer to below link:-
India Coupling Agents & Compatibilizers Market Outlook to 2023 – By Application (Packaging & Plastics Industry, Automotives Industry, Adhesives & Sealants and Paints & Coatings, Rubber Industry, Energy Sector and Others) and by Coupling Agents (Maleic Anhydride Grafted Polymers, Silane Coupling Agents and Others)
Ankur Gupta, Head Marketing & Communications