MarketsandMarkets forecasts the PEEK Market to grow from USD 0.5 billion in 2016 to USD 0.7 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period.
Browse 114 market data Tables
and 40 Figures spread through 156 Pages and in-depth TOC on "PEEK
Market”
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Special
properties of PEEK, such as high chemical resistance and greater dimensional
stability over conventional materials have been driving the demand for PEEK in
high end applications, including medical, aerospace, and automotive. The market
for PEEK is expanding at a good pace; however, it still faces some restraints.
High price of PEEK and increasing competition from hybrid polymers and
composites are some of the major inhibitors for PEEK market.
Electrical &
electronics is the fastest growing end user segment in the global PEEK market
The PEEK market, by end user, was dominated by the electrical
& electronics sector in 2015. This segment is projected to grow at the
highest CAGR between 2016 and 2021. The growth of this sector is due to the
rising demand from end applications of electrical & electronics industry,
including electrical connector, transformer, cable sheath, and so on.
Glass filled is the fastest-growing type segment in the global
PEEK market
The glass filled segment accounted for the largest share of the
global PEEK market in 2015, and is projected to grow at the highest CAGR from
2016 to 2021. The major driver for the growth of this segment is the growing
demand for PEEK products with greater strength and stiffness from key end-use
industries.
Recent Developments
- In March 2014,
Celanese Corporation (U.S.) and Southwire Company LLC (U.S.), North
America’s largest wire and cable producer, introduced utility transmission
lines – C7 Overhead Conductor with a multi-stranded composite core. The C7
Overhead Conductor uses the Celstran CFR-TPR composite technology that
involves a combination of carbon-fiber and heat-resistant Fortron PPS
matrix that is capped with a layer of PEEK.
- In October
2016, Celanese Corporation signed an acquisition agreement with SO.F.TER
Group (Italy), one of the world’s largest thermoplastic compounder
manufacturers. This acquisition helped the company in bringing technical
expertise, production, and compounding capabilities for its products, and
extended its footprint in Mexico, Brazil, Italy, and the U.S.
- In May 2014
Solvay S.A., introduced a new high stiffness grade KetaSpire Polyether
Ether Ketone (PEEK), KetaSpire KT-825, which provides 50% greater
modulus/stiffness than standard neat PEEK grades.
- In January
2014 Evonik Industries AG launched VESTAMID Care, TROGAMID Care, and
VESTAKEEP Care product lines to expand its high-performance polymers
product portfolio. These products can be used for medical devices
including catheters, surgical instruments, and hearing aids.
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Critical questions the report answers:
- Where will all
these developments take the industry in the long term?
- What are the
upcoming trends for the PEEK market?
- Which segment
provides the most opportunity for growth?
- Who are the
leading vendors operating in this market?
- What are the
opportunities for new market entrants?
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