Market Size – USD 953.6 Million in 2021, Market Growth – at a CAGR of 6.1%, Market Trends – Increasing demand for consumer electronic goods
VANCOUVER, BC, CANADA, June 2, 2022 /EINPresswire.com/ — The global Polyaryletherketone (PAEK) Market size was USD 953.6 Million in 2021 and is expected to register a revenue CAGR of 6.1% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for lightweight materials in automotive industry for reducing overall vehicle weight, and enhancing fuel-efficiency, and reducing carbon emissions is a key factor driving market revenue growth. Automotive manufacturers are increasingly using Polyaryletherketone (PAEK) materials to replace metal components to resolve concerns associated with light-weighting regulatory compliance. This is possible because the mechanical strength of PAEK resin is relatively robust and meets durability requirements and standards. According to research, PEEK polymers can provide around 80% of weight savings compared to metals. Moreover, low coefficient of friction and no corrosion enables improved overall efficiency of automobiles, and this is driving expansion in potential for production of a variety of other parts and components for application in vehicles.
The Global Polyaryletherketone Market Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Polyaryletherketone Market industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Polyaryletherketone Market market along with crucial statistical data about the Polyaryletherketone Market market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2030. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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Some Key Highlights From the Report
PEEK segment revenue accounted for largest revenue share during forecast period. Rising demand for PEEK from oil and gas, medical, automotive, and aerospace industries, especially in countries such as China and India, owing to increasing consumption of electrostatics, bearings, industrial coatings, and body implants, is expected to continue to support revenue growth of this segment.
Glass filled segment accounted for largest revenue share in 2021. Glass filled PAEK delivers superior thermal and mechanical characteristics, along with high resistance to electricity and corrosive chemicals. Glass filled PEEK significantly improves thermal bearing strength and provides high radiation and creep resistance. Enhanced strength and high thermal stability are some of the factors driving demand for glass-filled PEEK in structural applications, and the trend is expected to continue going ahead.
Medical segment revenue is expected to register fastest growth rate over the forecast period. PAEK implants are widely used owing to antimicrobial property as well as high endurance for CT, X-rays, and MRI scanning. PEEK material is an advanced biomaterial with hydrolysis-resistant and anti-corrosive property, and utilization in medical implants, spinal fusion devices, and surgical instruments, among others, is relatively high currently, and traction is expected to continue and support revenue growth of the medical segment over the forecast period.
Market in North America is expected to register a steady revenue growth rate over the forecast period owing to increasing usage of PAEK in the automotive industry to manufacture various exterior and interior components and products for applications in automobiles. The U.S. is one of the leading medical device manufacturer in the world, and high demand for advanced medical devices is expected to support revenue growth of market in region to a significant extent.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Arkema, SABIC, Solvay, Celanese Corporation, Ensinger, Victrex plc, Evonik, Mitsubishi Chemical Advanced Materials, AKRO-PLASTIC GmbH, and Nanoshel LLC
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Emergen Research has segmented the global PAEK market on the basis of product type, filler type, application, and region:
Product Type Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
Polyether Ether Ketone (PEEK)
Polyether Ketone (PEK)
Polyether Ketone Ketone (PEKK)
Filler Type Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
Application Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2030)
Oil & Gas
Electrical & Electronics
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Polyaryletherketone Market market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Polyaryletherketone Market market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Polyaryletherketone Market market.
Radical Highlights of the Polyaryletherketone Market Market Report:
Comprehensive overview of the Polyaryletherketone Market market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Polyaryletherketone Market market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.