Polyetheretherketone Peek Market
PUBLISHED: 2022 ID: SMRC21610
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Polyetheretherketone Peek Market

Polyetheretherketone (PEEK) Market Forecasts to 2028 – Global Analysis By Type (Glass Filled, Carbon Filled), Form (Particle, Powder), Application, End User, and By Geography

4.6 (95 reviews)
4.6 (95 reviews)
Published: 2022 ID: SMRC21610

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2021)

US $0.71 BN

Projected Year Value (2028)

US $1.24 BN

CAGR (2021 - 2028)

8.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Fastest Growing Market

Europe


According to Stratistics MRC, the Global Polyetheretherketone (PEEK) Market is accounted for $0.71 billion in 2021 and is expected to reach $1.24 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Polyether ether ketone (PEEK) is a colorless, high-strength, and chemical resistance thermoplastic in the poly aryl ether ketone (PAEK) family and is prepared by polymerization of bisphinolate salts. It softens at a moderately high temperature compared to different thermoplastics and the range of its melting temperature can be processed easily.

Thermoplastics have been extensively used in numerous automotive and transportation applications. According to the International Organization of Motor Vehicle Manufacturers, global vehicle sales grew to around 82.68 million automobiles in 2021, up from around 78.77 million units in 2020. The growing demand for lightweight materials with improved properties in the automotive industry to provide increased efficiency along with design flexibility and a rise in plastic consumption is primarily responsible for the growth of the thermoplastics polymers industry.



Market Dynamics:

Driver:

Increasing demand from health care industries

Polyether ether ketone has been emerging as an effective product for implantable devices fundamentally for spinal surgery and is replacing titanium, which was utilized for such purposes. PEEK is flexible, durable, and strong and does not harm the human body or skin, thus it is additionally useful to repair soft tissues. PEEK is a suitable choice for dialysis pump filters. Increasing health concerns and an increase in health care spending further helps the growth of the market.

Restraint:

High price of PEEK

The manufacturer of PEEK needs significantly high investment, as the manufacturing system is highly complicated. Furthermore, manufacturing PEEK products that can endure high temperatures requires a high level of technical competency. Because of these factors, the production of PEEK is expensive, and thus the cost of end-products is also very high. The high price of PEEK limits its applicability, and thus restrains the growth of the market. The high cost of production also bars the entry of mid and small-level market players, which, in turn, reduces the size of the PEEK market.

Opportunity:

Increasing applications for PEEK

Because of the properties of PEEK polymers, they are turning into the material of choice to replace conventional materials. In comparison to other conventional materials, they have higher chemical and impact resistance, as well as higher strength-to-weight ratios. They also offer greater design flexibility. Thus, the market for high-performance polymers is supposed to be extremely strong and develop at a high rate in the future. These polymers are expected to have many arising applications in aerospace, automotive, oil & gas, medical, and electronics industry in the upcoming years, which will additionally improve the growth prospects of PEEK. The unique properties of PEEK are also likely to drive the demand for PEEK products across different industries in the coming years.

Threat:

Issues from processing conditions

The key challenge faced by key players in the market is the absence of availability of quality compounders and distributors, because of the high level of technical competency that is associated with compounding or processing PEEK. The compounding of PEEK is considerably more complex than that of high-performance polymers and requires particular equipment and systems. One more issue faced by PEEK compounders is the necessity of high temperatures for processing. These high temperatures are challenging to maintain during the compounding process, and fluctuations affect the quality of the end product.
 
The glass filled segment is expected to be the largest during the forecast period

The glass filled segment is estimated to have a lucrative growth owing to the growing demand for PEEK products with a more prominent strength and stiffness from key end-use industries. The addition of glass fibers significantly lessens the expansion rate and increases the flexural modulus of PEEK. Because of the high chemical resistance to a large number of solvents, organics, salts, and bases, glass-filled PEEK is utilized in the oil and gas industries where steam and chemicals are encountered.

The automotive & transportation segment is expected to have the highest CAGR during the forecast period

The automotive & transportation segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the growing trend of miniatured engine compartments with light-weighted vehicles. Polyether ether ketone offers enhanced dry and lubricated surface interaction, outstanding mechanical performance, ease of processing, and excellent fatigue properties.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to the increasing demand from domestic markets. Furthermore, countries such as China and South Korea are known as the major hubs for the development of electronic components. Moreover, the high economic growth rate, growing manufacturing industries, cheap labor, the growing electronics market, and the global shift of consumption and production capacities from the developed markets to emerging markets are a few factors leading to the growth in demand for PEEK in the Asia-Pacific region.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period owing to the stringent regulatory framework and owing to the increasing automotive, aerospace & defense sectors in the region. The strict guidelines mainly about environment and fuel consumption reduction increased the demand in the transportation sector which in turn resulted in regional dominance. PEEK polymers and their composites are used as a replacement for aluminum and other metals in several aircraft parts.



Key players in the market

Some of the key players profiled in the Polyetheretherketone (PEEK) Market include Zyex Ltd, Victrex plc, Solvay S.A., Celanese Corporation, Quadrant Epp Surlon India Ltd, Prototype & Plastic Mold Co. Inc., J. K. Overseas, Evonik Industries AG, Darter Plastics Inc., Panjin Zhongrun High Performance Polymers Co. Ltd., Caledonian Ferguson Timpson Ltd, Saudi Basic Industries Corporation (SABIC), Jrlon Inc and Yingkou Xingfu Chemical Company Limited.  

Key Developments:

In May 2020, Evonik launched implant-grade PEEK filament for medical applications in 3D printing. VESTAKEEP® i4 3DF is a highly viscous, high-performance implant-grade polymer. The filament is produced under cleanroom conditions and then subjected to stringent quality management standards for medical materials.

In January 2020, Yingkou Xingfu Chemical Company Limited entered into a joint venture with Victrex Hong Kong Limited to build a manufacturing facility for a new PEEK polymer in Liaoning, China. This agreement will help both companies to fulfill consumer needs.
 
Types Covered:
• Unfilled
• Glass Filled
• Carbon Filled
 
Forms Covered:
• Particle
• Powder
 
Applications Covered:
• Wire & Cable Jacket    
• Valve    
• Anti-Wear Tape    
• Transformer    
• Battery Separator    
• Subsea Connector    
• Clamp     
• Bearings    
• Semiconductors    
• Critical Engine Parts    
• Screw    
• Rotor Arms    
• Dental Implant    
• Seals & Compressors    
• Metal Tubing    
• Gears, Brakes and Clutch    
• Piston Parts    
• Dialysis Pump Filters    
• Computer Machinery    
• Spinal Cage    
• Cable Sheath/Cable insulation    
• Pipe & Liner    
• Steering    
• Back-Up Ring    
• Thrust Washers & Seals    
• Acoustic Blanket    
• Vacuum Belt Filters    
 
Sales Channels Covered:
• Indirect Sale
• Direct Sale
 
End Users Covered:
• Electrical & Electronics
• Oil & Gas
• Automotive & Transportation
• Aerospace & Defense
• Building & Construction
• Nuclear Power Generation
• Mechanical and Chemical
• Food & Beverage
• Energy
• Medical & Healthcare

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary               
                 
2 Preface                
 2.1 Abstract               
 2.2 Stake Holders              
 2.3 Research Scope              
 2.4 Research Methodology             
  2.4.1 Data Mining             
  2.4.2 Data Analysis             
  2.4.3 Data Validation             
  2.4.4 Research Approach             
 2.5 Research Sources              
  2.5.1 Primary Research Sources            
  2.5.2 Secondary Research Sources            
  2.5.3 Assumptions             
                 
3 Market Trend Analysis              
 3.1 Introduction              
 3.2 Drivers               
 3.3 Restraints              
 3.4 Opportunities              
 3.5 Threats               
 3.6 Application Analysis             
 3.7 End User Analysis              
 3.8 Emerging Markets              
 3.9 Impact of Covid-19              
                 
4 Porters Five Force Analysis              
 4.1 Bargaining power of suppliers             
 4.2 Bargaining power of buyers             
 4.3 Threat of substitutes             
 4.4 Threat of new entrants             
 4.5 Competitive rivalry              
                 
5 Global Polyetheretherketone (PEEK) Market, By Type           
 5.1 Introduction              
 5.2 Unfilled               
 5.3 Glass Filled              
 5.4 Carbon Filled              
                 
6 Global Polyetheretherketone (PEEK) Market, By Form           
 6.1 Introduction              
 6.2 Particle               
 6.3 Powder               
                 
7 Global Polyetheretherketone (PEEK) Market, By Application           
 7.1 Introduction              
 7.2 Wire & Cable Jacket              
 7.3 Valve               
 7.4 Anti-Wear Tape              
 7.5 Transformer              
 7.6 Battery Separator              
 7.7 Subsea Connector              
 7.8 Clamp               
 7.9 Bearings               
 7.10 Semiconductors              
 7.11 Critical Engine Parts              
 7.12 Screw               
 7.13 Rotor Arms              
 7.14 Dental Implant              
 7.15 Seals & Compressors             
 7.16 Metal Tubing              
 7.17 Gears, Brakes and Clutch             
 7.18 Piston Parts              
 7.19 Dialysis Pump Filters             
 7.20 Computer Machinery             
 7.21 Spinal Cage              
 7.22 Cable Sheath/Cable insulation             
 7.23 Pipe & Liner               
 7.24 Steering               
 7.25 Back-Up Ring              
 7.26 Thrust Washers & Seals             
 7.27 Acoustic Blanket              
 7.28 Vacuum Belt Filters              
                 
8 Global Polyetheretherketone (PEEK) Market, By Sales Channel          
 8.1 Introduction              
 8.2 Indirect Sale              
 8.3 Direct Sale              
                 
9 Global Polyetheretherketone (PEEK) Market, By End User           
 9.1 Introduction              
 9.2 Electrical & Electronics             
 9.3 Oil & Gas               
 9.4 Automotive & Transportation             
  9.4.1 Heavy Commercial Vehicles (HCV)           
  9.4.2 Light Commercial Vehicles (LCV)           
  9.4.3 Passenger Cars             
 9.5 Aerospace & Defense             
  9.5.1 Military              
  9.5.2 Commercial             
 9.6 Building & Construction             
  9.6.1 Residential             
  9.6.2 Infrastructural             
  9.6.3 Commercial Buildings             
  9.6.4 Industrial & General Engineering           
 9.7 Nuclear Power Generation             
 9.8 Mechanical and Chemical             
 9.9 Food & Beverage              
 9.10 Energy               
 9.11 Medical & Healthcare             
                  
10 Global Polyetheretherketone (PEEK) Market, By Geography           
 10.1 Introduction              
 10.2 North America              
  10.2.1 US              
  10.2.2 Canada              
  10.2.3 Mexico              
 10.3 Europe                
  10.3.1 Germany              
  10.3.2 UK              
  10.3.3 Italy              
  10.3.4 France              
  10.3.5 Spain              
  10.3.6 Rest of Europe             
 10.4 Asia Pacific              
  10.4.1 Japan               
  10.4.2 China              
  10.4.3 India              
  10.4.4 Australia              
  10.4.5 New Zealand             
  10.4.6 South Korea             
  10.4.7 Rest of Asia Pacific             
 10.5 South America              
  10.5.1 Argentina             
  10.5.2 Brazil              
  10.5.3 Chile              
  10.5.4 Rest of South America            
 10.6 Middle East & Africa             
  10.6.1 Saudi Arabia             
  10.6.2 UAE              
  10.6.3 Qatar               
  10.6.4 South Africa             
  10.6.5 Rest of Middle East & Africa            
                 
11 Key Developments               
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures          
 11.2 Acquisitions & Mergers             
 11.3 New Product Launch             
 11.4 Expansions              
 11.5 Other Key Strategies             
                 
12 Company Profiling               
 12.1 Zyex Ltd               
 12.2 Victrex plc              
 12.3 Solvay S.A.              
 12.4 Celanese Corporation             
 12.5 Quadrant Epp Surlon India Ltd             
 12.6 Prototype & Plastic Mold Co. Inc.            
 12.7 J. K. Overseas              
 12.8 Evonik Industries AG             
 12.9 Darter Plastics Inc.              
 12.10 Panjin Zhongrun High Performance Polymers Co. Ltd.          
 12.11 Caledonian Ferguson Timpson Ltd            
 12.12 Saudi Basic Industries Corporation (SABIC)           
 12.13 Jrlon Inc.               
 12.14 Yingkou Xingfu Chemical Company Limited            
                 
List of Tables                
1 Global Polyetheretherketone (PEEK) Market Outlook, By Region (2020-2028) ($MN)        
2 Global Polyetheretherketone (PEEK) Market Outlook, By Type (2020-2028) ($MN)         
3 Global Polyetheretherketone (PEEK) Market Outlook, By Unfilled (2020-2028) ($MN)        
4 Global Polyetheretherketone (PEEK) Market Outlook, By Glass Filled (2020-2028) ($MN)        
5 Global Polyetheretherketone (PEEK) Market Outlook, By Carbon Filled (2020-2028) ($MN)        
6 Global Polyetheretherketone (PEEK) Market Outlook, By Form (2020-2028) ($MN)         
7 Global Polyetheretherketone (PEEK) Market Outlook, By Particle (2020-2028) ($MN)        
8 Global Polyetheretherketone (PEEK) Market Outlook, By Powder (2020-2028) ($MN)        
9 Global Polyetheretherketone (PEEK) Market Outlook, By Application (2020-2028) ($MN)        
10 Global Polyetheretherketone (PEEK) Market Outlook, By Wire & Cable Jacket (2020-2028) ($MN)       
11 Global Polyetheretherketone (PEEK) Market Outlook, By Valve (2020-2028) ($MN)         
12 Global Polyetheretherketone (PEEK) Market Outlook, By Anti-Wear Tape (2020-2028) ($MN)        
13 Global Polyetheretherketone (PEEK) Market Outlook, By Transformer (2020-2028) ($MN)        
14 Global Polyetheretherketone (PEEK) Market Outlook, By Battery Separator (2020-2028) ($MN)       
15 Global Polyetheretherketone (PEEK) Market Outlook, By Subsea Connector (2020-2028) ($MN)       
16 Global Polyetheretherketone (PEEK) Market Outlook, By Clamp (2020-2028) ($MN)         
17 Global Polyetheretherketone (PEEK) Market Outlook, By Bearings (2020-2028) ($MN)        
18 Global Polyetheretherketone (PEEK) Market Outlook, By Semiconductors (2020-2028) ($MN)        
19 Global Polyetheretherketone (PEEK) Market Outlook, By Critical Engine Parts (2020-2028) ($MN)       
20 Global Polyetheretherketone (PEEK) Market Outlook, By Screw (2020-2028) ($MN)         
21 Global Polyetheretherketone (PEEK) Market Outlook, By Rotor Arms (2020-2028) ($MN)        
22 Global Polyetheretherketone (PEEK) Market Outlook, By Dental Implant (2020-2028) ($MN)        
23 Global Polyetheretherketone (PEEK) Market Outlook, By Seals & Compressors (2020-2028) ($MN)       
24 Global Polyetheretherketone (PEEK) Market Outlook, By Metal Tubing (2020-2028) ($MN)        
25 Global Polyetheretherketone (PEEK) Market Outlook, By Gears, Brakes and Clutch (2020-2028) ($MN)       
26 Global Polyetheretherketone (PEEK) Market Outlook, By Piston Parts (2020-2028) ($MN)        
27 Global Polyetheretherketone (PEEK) Market Outlook, By Dialysis Pump Filters (2020-2028) ($MN)       
28 Global Polyetheretherketone (PEEK) Market Outlook, By Computer Machinery (2020-2028) ($MN)       
29 Global Polyetheretherketone (PEEK) Market Outlook, By Spinal Cage (2020-2028) ($MN)        
30 Global Polyetheretherketone (PEEK) Market Outlook, By Cable Sheath/Cable insulation (2020-2028) ($MN)      
31 Global Polyetheretherketone (PEEK) Market Outlook, By Pipe & Liner (2020-2028) ($MN)        
32 Global Polyetheretherketone (PEEK) Market Outlook, By Steering (2020-2028) ($MN)        
33 Global Polyetheretherketone (PEEK) Market Outlook, By Back-Up Ring (2020-2028) ($MN)        
34 Global Polyetheretherketone (PEEK) Market Outlook, By Thrust Washers & Seals (2020-2028) ($MN)       
35 Global Polyetheretherketone (PEEK) Market Outlook, By Acoustic Blanket (2020-2028) ($MN)        
36 Global Polyetheretherketone (PEEK) Market Outlook, By Vacuum Belt Filters (2020-2028) ($MN)       
37 Global Polyetheretherketone (PEEK) Market Outlook, By Sales Channel (2020-2028) ($MN)        
38 Global Polyetheretherketone (PEEK) Market Outlook, By Indirect Sale (2020-2028) ($MN)        
39 Global Polyetheretherketone (PEEK) Market Outlook, By Direct Sale (2020-2028) ($MN)        
40 Global Polyetheretherketone (PEEK) Market Outlook, By End User (2020-2028) ($MN)        
41 Global Polyetheretherketone (PEEK) Market Outlook, By Electrical & Electronics (2020-2028) ($MN)       
42 Global Polyetheretherketone (PEEK) Market Outlook, By Oil & Gas (2020-2028) ($MN)        
43 Global Polyetheretherketone (PEEK) Market Outlook, By Automotive & Transportation (2020-2028) ($MN)      
44 Global Polyetheretherketone (PEEK) Market Outlook, By Heavy Commercial Vehicles (HCV) (2020-2028) ($MN)      
45 Global Polyetheretherketone (PEEK) Market Outlook, By Light Commercial Vehicles (LCV) (2020-2028) ($MN)      
46 Global Polyetheretherketone (PEEK) Market Outlook, By Passenger Cars (2020-2028) ($MN)        
47 Global Polyetheretherketone (PEEK) Market Outlook, By Aerospace & Defense (2020-2028) ($MN)       
48 Global Polyetheretherketone (PEEK) Market Outlook, By Military (2020-2028) ($MN)        
49 Global Polyetheretherketone (PEEK) Market Outlook, By Commercial (2020-2028) ($MN)        
50 Global Polyetheretherketone (PEEK) Market Outlook, By Building & Construction (2020-2028) ($MN)       
51 Global Polyetheretherketone (PEEK) Market Outlook, By Residential (2020-2028) ($MN)        
52 Global Polyetheretherketone (PEEK) Market Outlook, By Infrastructural (2020-2028) ($MN)        
53 Global Polyetheretherketone (PEEK) Market Outlook, By Commercial Buildings (2020-2028) ($MN)       
54 Global Polyetheretherketone (PEEK) Market Outlook, By Industrial & General Engineering (2020-2028) ($MN)      
55 Global Polyetheretherketone (PEEK) Market Outlook, By Nuclear Power Generation (2020-2028) ($MN)       
56 Global Polyetheretherketone (PEEK) Market Outlook, By Mechanical and Chemical (2020-2028) ($MN)       
57 Global Polyetheretherketone (PEEK) Market Outlook, By Food & Beverage (2020-2028) ($MN)        
58 Global Polyetheretherketone (PEEK) Market Outlook, By Energy (2020-2028) ($MN)        
59 Global Polyetheretherketone (PEEK) Market Outlook, By Medical & Healthcare (2020-2028) ($MN)       
                 
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.   
                  
                 

 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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