DUBLIN--(BUSINESS WIRE)--The "Polyaryletherketones (PAEK) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for polyaryletherketone (PAEK) is estimated to expand at a CAGR of 6.5% during the forecast period of 2022 to 2030.
Companies Mentioned
- Arkema Group
- Caledonian Industries Ltd.
- Ensinger GmbH
- Evonik Industries AG
- Quadrant AG
- Solvay S.A.
- Victrex plc
It is anticipated that PAEK would experience strong growth as a result of its qualities, which include outstanding performance even at higher temperatures and resistance to friction. Polyether ether ketone (PEEK) is becoming more utilised in the aerospace industry due to the fact that it is a polymer that has a high glass transition temperature.
This is likely to push market demand. The increasing demand for polyetherketoneketone (PEKK) in the medical industry for various orthopaedic applications and components due to its outstanding antibacterial qualities is the primary factor driving the growth of market revenue.
The expansion of the market's revenue is also being driven by the increasing utilisation of materials that are not only lightweight but also possess high levels of mechanical strength in the aerospace and automotive industries and as a substitute for metal. It is expected that China, India, Thailand, Indonesia, and Malaysia will see increased demand for aftermarket parts as a result of growing automotive manufacturing and an increasing number of OEM firms catering to the domestic aftermarket.
Increasing Demand for Alternatives
On the other hand, increasing demand for alternatives in industries such as construction and automotive is anticipated to stifle market expansion over the course of the projected period.
Some examples of these alternatives include PPS and PEI. PPS is a high-performance engineering plastic with a variety of qualities, including strong creep resistance, excellent temperature properties, and excellent chemical resistance. PPS is used in a variety of industries, including aerospace, automotive, and electronics.
Over the course of the forecast period, it is predicted that the need for PEEK will be met with competition from the growing demand for PPS in the production of automotive parts such as speed sensors, bulb sockets, and fuse cases.
Demand from the Automotive and Aerospace Industry
It is anticipated that the aviation industry would be driven by ongoing expansion activities carried out by Bombardier, a Canadian aerospace business, as well as the presence of original equipment manufacturers (OEMs) in Mexico, including Honeywell and Boeing. It is anticipated that increased government investments in the aerospace industries of China, India, South Korea, Singapore, and Malaysia will further accelerate the PAEK market.
This growth will be driven by the aerospace industries in these countries. PAEK is utilised in the fabrication of crucial aerospace components utilised in Airbus A350-900 aircraft as well as applications utilised within aircraft interiors. In a variety of aviation components, such as ribs, ducting, brackets, seat frames, panels, and fasteners, PAEK provides outstanding dimensional precision, resistance to radiation and hydrolysis, and good temperature performance.
The PEEK Market Is Experiencing Accelerated Expansion on The Strength of Its High Thermal and Chemical Stability.
Recent developments in the metallurgical industry have led to the production of numerous polymers that possess qualities that are either comparatively superior or equal to one another. Polyetheretherketone, often known as PEEK, accounts for more than 80% of the polymers that belong to the polyaryletherketone (PAEK) family.
Other members include PEKK and PEKEKK. PEEK, which stands for polyetheretherketone, are important because they are appropriate for use in harsh and demanding situations. Polyether ether ketone (PEEK) is seeing a rise in use across a wide range of industries as a result of the relatively superior chemical characteristics it possesses, which help it maintain its durability. Polyetheretherketone, also known as PEEK, is a material that has found widespread use for a variety of applications that involve high temperatures and call for a combination of exceptional chemical, thermal, and combustion qualities.
Environment-Friendly Solution
When compared to other polymers such as ABS, polyester laminate, polyvinyl chloride, polystyrene, and polysulphone, PEEK has significantly lower levels of carbon emissions. As a result, it is becoming increasingly popular as a solution that is both effective and kind to the environment.
Market Segmentation
Product
- PEK (Polyetherketone)
- PEEK (polyetheretherketone)
- PEKK (Poly-Ether-Ketone-Ketone)
- Others (PEEKK, PEKEKK)
Filler
- Unfilled
- Carbon Filled
- Glass Filled
End-Use Sector
- Oil & gas
- Medical
- Dental
- Orthopedic
- Medical devices
- Aerospace & automotive
- Marine
- Electrical & electronics
- Others
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Polyaryletherketones (PAEK) market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Polyaryletherketones (PAEK) market?
- Which is the largest regional market for Polyaryletherketones (PAEK) market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Polyaryletherketones (PAEK) market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Polyaryletherketones (PAEK) market worldwide?
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