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.
Browse full research report on Polyaryletherketone (PAEK) Market: 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.
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central &
South America
- Brazil
- Middle East
& Africa
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.
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