Global Polyether ether ketone (PEEK) market expected to reach US$831 million by 2018

07-Feb-14

The estimated worth of the global Polyether ether ketone (PEEK) market is expected to reach US$831 mln by 2018, as per Research and Markets. The market volume is expected to grow at a CAGR of 8.2% from 2013 to 2018. Europe dominated the global PEEK market in 2012. Emerging markets are likely to fuel the future growth of PEEK. PEEK consumption in the developed markets is more than in developing markets. Polyether ether ketone (PEEK) is a high performance polymer with unique properties and characteristics. This enables it to be pertinent in a wide range of applications in automotive, aerospace, electronics & electrical, industrial, and medical segment. The global demand for PEEK is increasing on the back of growing applications in the industrial and electronics & electrical segment. In addition, demand for PEEK in the automotive segment is also likely to increase in the coming years due to its rising demand on global level. However, the demand growth is likely to be affected by limited geographical coverage of production capacity and lack of technological innovation. There are a handful of PEEK producers, which dominate the market. The market is following the trend of linear integration because of the consolidated number of players involved. However, demand from the emerging market is increasing due to a rise in awareness of the benefits of PEEK and its upcoming applications in various fields. The dominant producers and players of Polyether ether ketone (PEEK) are Victrex Plc. (U.K.), Solvay Speciality Polymers (U.S.), Panjin Zhongrun High Performance Polymers (China), and Jida Evonik High Performance Polymers (China).