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Polyether Ether Ketone (PEEK) Market worth $1025.7 Million by 2020
This report "Polyether Ether Ketone (PEEK) Market by Application (Automotive, Aerospace, Electrical & Electronics, Medical, Industrial, and Others), by Product Types (Unfilled, Carbon filled, Glass filled, and Others), and by Geography - Global Forecast to 2020", defines and segments the polyether ether ketone (PEEK) market with analysis and forecast of the market size. The global PEEK market value is projected to reach $1025.7 Million by 2020.
Browse 93 tables and 45 figures spread through 138 pages and in-depth TOC on "Polyether Ether Ketone (PEEK) Market by Application (Automotive, Aerospace, Electrical & Electronics, Medical, Industrial, and Others), by Product Types (Unfilled, Carbon filled, Glass filled, and Others), and by Geography - Global Forecast to 2020"
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The global PEEK market was largely dominated by the developed markets. Europe and North America collectively held 70.1% of the global market share in 2015. Despite some production capacities present in developing countries of China and India, these capacities have proved to be more export oriented rather than promoting domestic growth for PEEK. China has developed significant market share in the global PEEK market, however the high price of PEEK contradicts its cost based competitiveness and thus restricts the market growth.
Europe – The biggest market of polyether ether ketone (PEEK)
Europe is one of the fastest-growing consumers of polyether ether ketone (PEEK) across the globe. And this trend is expected to continue in the near future. Europe is also the biggest market for PEEK and accounted for a share of more 36.3% of the total market size, in terms of volume, in 2015. Germany is the highest revenue generating market for PEEK in Europe. It is also estimated to be the fastest-growing market for PEEK in the region. Continuous product developments by the participant companies are increasing the market applications base for PEEK, thereby boosting the volume consumption in the region.
Europe and North America are at the forefront of the global polyether ether ketone (PEEK) market, while Germany, Italy, and France are the key markets in Europe. Germany consumed more than half of the demand for polyether ether ketone (PEEK) in Europe, followed by France and UK where consumption is growing at a steady rate. Increase in the consumption of PEEK in electrical & electronics and medical has been observed in Europe due to continued industrialization and rise in the manufacturing sector of the region. Electrical & electronics is projected to be the fastest-growing application segment during the forecast period from 2015 to 2020.
Victrex PLC (U.K.), Jida Evonik (China), and Solvay Specialty Polymers (U.S.) recently invested in expansion, new joint ventures, agreements, partnerships, and merger & acquisition of small players to dominate the polyether ether ketone (PEEK) market. Asia-Pacific is the fastest-growing market due to the easy availability of high-quality raw materials and increasing demand for PEEK from developed and developing countries in the region, such as Japan, China, India, Australia, and others. To meet this growing demand, top manufacturers from the U.S. and Europe are now focusing on the Asia-Pacific market. The demand for polyether ether ketone in this region is projected to register a CAGR of 12.7% between 2015 and 2020.
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