Global Polyaryletherketone (PAEK) Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 6.2 % through 2020 to 2026, reaching nearly US$ XX Bn.
The global Polyaryletherketone (PAEK) market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Polyaryletherketone (PAEK) report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Polyaryletherketone (PAEK) Market Overview:
Polyaryletherketone (PAEK) offers high-temperature stability, high mechanical strength, and good overall chemical resistance.
Global Polyaryletherketone (PAEK) Market Dynamics:
Growing automotive production and rising number of OEM companies catering to the domestic aftermarket in China, India, Thailand, Indonesia, and Malaysia are likely to drive the industry during the forecast period. Increasing usage of polyether ether ketone (PEEK) in the aerospace industry on account of being a polymer with high glass transition temperature is expected to propel polyaryletherketone market demand. Growing consumption of different polyaryletherketone types in various applications including automotive, industrial and general engineering, aerospace, electrical and electronics and medical are expected to drive the industry growth.
Rising demand for substitutes like PPS and PEI in the construction and automotive sectors act as a restraining factor for the market growth during the forecast period.
Global Polyaryletherketone (PAEK) Market Segment Analysis:
By Type, the polyaryletherketone foam market is segmented as PEK, PEEK, and PEKK. The PEEK segment held the largest share of the polyaryletherketone market in 2019 and is expected to grow at a rapid pace during the forecast period. Growing PEEK systems segment in oil & gas, electricals and electronics, medical, automotive, and aerospace applications, especially in emerging economies including India and China.
Global Polyaryletherketone (PAEK) Market
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By Application, the market is segmented into oil & gas, electricals & electronics, automotive, medical, and aerospace. The oil & gas application segment is expected to grow at a rapid pace during the forecast period thanks to the growing demand for polyaryletherketone materials in anti-wear tape, back-up ring, pipe & liner, seal, subsea connector, compressor, valve, and others used in the oil and gas industry. This is due to its exceptional properties such as superior creep resistance, wear, and chemical resistance under high pressure and high-temperature conditions. These properties of PAEK increase the consistency of the oilfield equipment and thus extends the life of the equipment in the challenging oilfield environment. These all factors are expected to propel the demand for polyaryletherketone in oil and gas applications.
Medical application segment accounts for the largest market share of more than 9.6% in terms of revenue in 2019 and is expected to witness significant growth during the forecast period. The growing use of PEEK in the spinal area, anterior cervical corpectomy and fusion, rotator cuffs and shoulder labrum repair, and dental work. These all factors expected to propel the market growth during the forecast period.
Polyaryletherketone (PAEK) Market
Global Polyaryletherketone (PAEK) Market Regional Insights:
North America Dominate the Demand for Polyaryletherketone (PAEK) Market
North America is estimated to register significant growth in terms of revenue, around a CAGR of 7.6% during the forecast period 2020-2026. Prominent PAEK manufacturers in the region include Jrlon, Inc., Tri-Mack Plastics Manufacturing Corporation, and RTP Company. Strong manufacturing base and rapid growth of the automotive industry in the U.S. will enhance the demand for vehicle production, which in turn, is expected to drive PAEK market demand during the forecast period.
Currently, Mexico is the world’s seventh-largest producer of automobile components. Thus, Mexico has been the primary focus of global automotive manufacturers as they are constantly looking for untapped growth opportunities. It is the fourth largest exporter of automobiles to the global automotive industry and is listed after Germany, Japan, and South Korea. Growing automobile production in the country is expected to drive demand for PAEK.
Asia Pacific Is Expected to Dominate the Polyaryletherketone (PAEK) Market
The Asia Pacific accounted for more than 16.7% in terms of revenue in 2019 and is expected to witness substantial growth during the forecast period. A strong consumer base in the automotive, electronics and medical equipment sectors in China is expected to increase the penetration of new construction projects and thereby, promote product demand.
Europe was the leading region of the PAEK market in 2019 thanks to the rise in preference toward replacement of metals with high-end performance-based polymers in order to reduce vehicle weight and increase fuel efficiency in the region.
Polyaryletherketone (PAEK) Market
The objective of the report is to present a comprehensive analysis of the global Polyaryletherketone (PAEK) market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Polyaryletherketone (PAEK) market dynamics, structure by analyzing the market segments and project the global Polyaryletherketone (PAEK) market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Polyaryletherketone (PAEK) market make the report investor’s guide.
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Global Polyaryletherketone (PAEK) Market
Global Polyaryletherketone (PAEK) Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Polyaryletherketone (PAEK) Market Key Players
• VICTREX PLC
• SOLVAY S.A.
• ARKEMA GROUP
• JK OVERSEAS
• QUADRANT AG
• GHARDA CHEMICALS LTD.
• EVONIK INDUSTRIES AG.
• CALEDONIAN INDUSTRIES LTD.
• CELANESE CORPORATION
• PANJIN ZHONGRUN HIGH-PERFORMANCE POLYMERS CO. LTD.
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