The
global Polyether Ether Ketone (PEEK)
market is projected to reach USD 664.3 million by 2021, at a
CAGR of 6.3% from 2016 to 2021. In the global PEEK market, newer
applications and product grades are expected to be developed in industries such
as aerospace and defense.
In 2015, Victrex plc (U.K.) accounted for the largest market share in
the PEEK market and is expected to maintain its market position in future.
Recently, Victrex plc expanded its nameplate capacity of PEEK to 7,150 tons to
meet the growing demand in the market. Another key player in the PEEK market,
Solvay S.A. (Belgium), accounted for the second largest share of the PEEK
market in 2015.
Victrex plc (U.K.) is projected to continue its dominance in the market
over the coming years. It is a debt free company, and generated the highest
profit margins in the PEEK market in 2015. To establish its strong hold in the
North American region and to compete with Solvay S.A. in North America, the
company acquired Kleiss Gears, a US polymers gears producer for USD 6 million
in 2015.
The company has established a major Polymer Innovation Centre in
northern England in 2015 and has added new capacities to cater to the
increasing demand in the PEEK market. The company also expanded its
distribution network for Victrex PEEK globally.
Solvay
S.A. (Belgium), another key player operating in the PEEK market, recently
expanded its PEEK production capacity to 2,500 tons by establishing a new plant
for PEEK production in Georgia (U.S.) in 2016. In addition, the company is investing
in high-growth areas and regions such as, North America, Europe, and the
Asia-Pacific.
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The
company has adopted new product launches, acquisitions, and expansions
strategies to strengthen its market position as a leader in the PEEK market.
For instance, in 2015, Solvay S.A. acquired EPIC Polymer (Germany), a
long-fiber thermoplastics technology provider, to provide innovative products
to its customers.
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