The global polyether
ether ketone (PEEK) market is expected to reach USD 1.03 billion by
2024, according to a new report by Grand View Research, Inc. Increasing
high-performance plastics demand as a substitute to metals in automobiles on
account of growing need for high efficiency and low weight materials is
expected to drive overall industry demand in near future.
The stringent environmental regulatory framework
in developed markets of the U.S. and Europe has forced the automobile industry
participants to use such an alternative which helps in decreasing fuel
consumption by enhancing overall fuel efficiency. Such regional trends are anticipated
to positively impact global volumes over the forecast period.
Excellent performance features including superior
strength and heat resistance are expected to propel product preference in
end-use industries such as food, medical, aerospace, semiconductors and
packaging sectors.
Glass filled was the major product segment and
accounted for approximately 44.9% of total market volume in 2015. The product
finds application in industrial, electric & electronics applications.
Carbon filled is anticipated to witness at the highest CAGR from 2016 to 2024.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/polyether-ether-ketone-peek-industry
Further key findings from the report suggest:
- The global PEEK market demand was 5,048.2 tons in 2015 and is expected to exceed 10,000 tons by 2024, growing at a CAGR of 8.5% from 2016 to 2024
- Automotive emerged as the leading consumer of PEEK and accounted for 28.1% of total volume in 2015. It is also expected to witness the highest growth of 9.4% over the forecast period. Increasing need for a highly efficient material which will help in reducing fuel consumption resulting in lower emission levels is expected to drive this segment.
- The product is widely used for industrial applications including packaging, textile, and printing. Growing waste disposal concerns coupled with strict environmental regulations related to packaging is anticipated to positively impact PEEK demand in industrial applications.
- Europe was the leading regional market and with demand share estimated at 54.2% in 2015.Stringent environmental regulatory framework to curb overall weight of automobiles is expected to drive the regional market.
- Asia Pacific is expected to witness the highest growth of 14.0% on account of industrialization in China and India coupled with growing environmental concerns including noxious VOC emission levels.
- Key companies include Zyex Ltd, Tri-Mack Plastics Manufacturing Corp., Caledonian Ferguson Timpson Ltd, Prototype & Plastic Mold Co. Inc., Victrex Plc, Darter Plastics Inc., J.K. Overseas, A. Schulman AG, Jida Evonik High-Performance Polymers (Changchun) Co. Ltd and Stern Industries Inc.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the PEEK market on the basis of product, application and region:
Global Polyether Ether Ketone (PEEK) Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
·
Unfilled
·
Carbon filled
·
Glass filled
Global Polyether Ether Ketone (PEEK) Application Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2024)
·
Medical
·
Automotive
·
Aerospace
·
Industrial
·
Electricals & electronics
Global Polyether Ether Ketone (PEEK) Regional Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S
o
Canada
·
Europe
o
Germany
o
UK
o
France
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
o
Taiwan
·
Central & South America
o
Brazil
·
Middle East and Africa
o
Saudi Arabia
For press release of this report - http://www.grandviewresearch.com/press-release/global-polyether-ether-ketone-peek-market
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