This industry research report identifies A. Schulman, Caledonian Industries, Evonik Industries, Solvay, and Victrex as the key vendors in the global polyether ether ketone (PEEK) market. This industry research report also presents a competitive analysis of the market by product type (gas filled, carbon filled, and un filled), by application (electrical and electronics, automotive, aerospace, and oil and gas), and by geography (the Americas, APAC, Europe, and ROW).
Overview of the global polyether ether ketone (PEEK) market
Market research analysts at Technavio predict that the global polyether ether ketone (PEEK) market will grow steadily at a CAGR of more than 10% by 2021. PEEK can be easily recycled either mechanically or as a feedstock. Based on the suitability, and depending on the design, availability, and choice of sorting facilities and the regional logistics, local legislation, and recycling costs, PEEK can be recycled using various treatments such as incineration, thermolysis, mechanical recycling, and solvolysis. With the high costs involved with its consumption, this recyclable nature of PEEK will be one of the primary factors that will have a positive impact on the growth of this global market.
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Owing to its versatility in processing, high-temperature feasibility, low weight, cost effectiveness, and good performance in harsh and corrosive conditions, PEEK is replacing metal in several applications. The usage of PEEK also enhances fuel efficiency, tackles weight challenges, and improves component lifetime and operating cycles by reducing the dependence on lubricating agents. In addition to reducing the overall weight of the product, PEEK also provides the features and strength of metals. As a result, the coming years will witness a considerable increase in the replacement of metal with PEEK in numerous applications, which will subsequently fuel the growth of the PEEK market.
Competitive landscape and key vendors
The market is highly competitive and appears to be fragmented with the presence of global, regional, and local vendors. The vendors compete based on factors such as product performance and quality, price, innovation, quality and performance, and customer-centrism. With low priced offerings and better customer relationships, the local vendors account for significant shares of the PEEK market and they pose as strong competitors to the well-established vendors. To gain a competitive advantage, vendors also provide customized services based on the requirement of the customers.
The leading vendors in the market are -
The other prominent vendors in the market are Ensinger, GEHR Plastics, Goodfellow, Greene Tweed, PolyOne, PlastiComp, J. K. Overseas, Tri-Mack Plastics Manufacturing Corporation, RTP Company, and The Quadrant Group of Companies.
Segmentation by type and analysis of the PEEK market
During 2016, the glass-filled PEEK segment accounted for the major shares and dominated the PEEK market. Glass-filled PEEK is highly-efficient in applications involving sliding parts and high static loads due to the addition of glass fibers for extended use. The features of glass-filled PEEK such as better stiffness, dimensional stability, and creep resistance will contribute to the growth of this market segment during the forecast period.
Segmentation by application and analysis of the PEEK market
Electrical and electronics
Oil and gas
During 2016, the electrical and electronics segment accounted for the major shares and dominated the PEEK market. PEEK provides protection for electrostatic and shielding such as electromagnetic interference/ radio frequency interference (EMI/RFI) shielding, weight reduction from metals to plastics, and flame retardancy. As a result, it is increasingly used in electrical insulators and housings, electrical connectors, wafer carriers, and wire and cable insulation.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global polyether ether ketone (PEEK) market?
What are the key market trends impacting the growth of the global polyether ether ketone (PEEK) market?
What are the challenges to market growth?
Who are the key vendors in the global polyether ether ketone (PEEK) market?
What are the market opportunities and threats faced by the vendors in the global polyether ether ketone (PEEK) market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
What are the key outcomes of the five forces analysis of the global polyether ether ketone (PEEK) market?
Technavio also offers customization on reports based on specific client requirement.
PEEK is one of the most studied polymers among aromatic ketone polymers (AKPs), used in the most demanding and harsh processing environments. Technavios market research reports for the chemical industry combines a wide range of product markets including specialty chemicals, metals and minerals, olefins, and glass and ceramics. Also, in order to project an extensive collection of market research reports that will assist players in the chemical industry increase their revenue shares, market research analysts at the market research firm Technavio also consider into account multiple elements such as the change in consumer preferences, factors affecting market growth, and the innovations in products by the major market competitors.
This upcoming report on the inspection PEEK market also considers the growth of the similar markets such as the flocculants market and asphalt market, which are expected to project a CAGR of above 9% and more than 4%, respectively during the period 2017 to 2021. According to our market research analysts, the increased demand for high-performance polymers in several industries across the world is expected to augment the growth of the global PEEK market during the next few years.
The upcoming industry research report for the PEEK market also identifies the major drivers, forthcoming trends, coupled with the impending challenges currently experienced by vendors in the specialty chemical sector.
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