PEEK Market Size and Growth Rate:
PEEK Market size was around USD 487.38 million by revenue, at the end of 2020. It is anticipated to grow at CAGR of 6.72 % to reach USD 757.74 million by 2025.
PEEK Market Introduction:
PEEK Market is also known as Polyether Ether Ketone Market. It is a newly evolving, fast-growth market mainly due to the increasing demand from end-users and research & developments as a result of the rapid urbanization in the world.
PEEK Market Drivers and Restraints:
The increasing demand from end-use industries like the electrical and electronic industry and Aerospace industry is the major driver to the global PEEK market. The use of PEEK in numerous fast-growing industries creates a high potential to the PEEK market in the coming market, which could make the market enter the billion markets list in no time. Also, the vast application of Glass-filled PEEK is another major factor fueling the growth of the global market. However, the strict regulations imposed on the leading polyether ether ketone producers may negatively affect the global market growth. Also, undergoing research and developments for better suitable alternatives for various end-use industries may, in the future, restrain market growth.
PEEK Market Detailed Segmentation:
By End User
Market Growth Based on Segmentation:
Among the mentioned types of PEEK, the Glass-filled sector finds most use in the world due to its wide range of industrial applications, owing to its ability to provide enhanced thermal and mechanical properties. This makes the Glass-filled segment to have the fastest growth in the aforementioned forecast period.
Of the mentioned end-users the electrical & electronics sector is the largest user of PEEK as there are a variety of applications of PEEK in this industry some of which are wire insulation, filtration membrane, and polymer parts of circuit breakers, batteries, capacitors, connectors, sockets, and touch screen components. It had the largest share of revenue generated when compared among other end-users, followed by the aerospace end-user sector.
PEEK Market Geographical Analysis:
PEEK Market is segmented as Latin America, Europe, Asia Pacific, Middle-East & Africa, and North America. Asia Pacific is expected to be the fastest-growing market in the forecast period, due to its high CAGR, increasing demand for growing industries and scope of future opportunities, mainly in developing countries like Japan, India, and China.
The geographical advantages in the region offer it a high chance to succeed in the global market. North America had the largest market share in the year 2020 as the major market players are from this region. The growth rate of this region is the second-highest in the aforementioned forecast period. The advances in laboratory setups and established plants are the reason for this region’s high market value. Europe is close to North America in terms of market size.
The growth rate, however, is not as much as that in Asia or North America making is susceptible to witness an overtake in the market value by the Asia Pacific in the coming future. The Middle East and Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the PEEK market in these regions is slow growing in nature.
Some of the key players are:
By the end of 2020, Solvay S.A. (Belgium), A. Schulman AG (U.S.), Evonik Industries AG (Germany), J K Overseas (India), Panjin Zhongrun High Performance Polymers Co. Ltd., (China), Caledonian Ferguson Timpson Ltd (U.K), Quadrant Epp Surlon India Ltd. (India), Jida Evonik High Performance Polymers Co. Ltd. (Changchun), Victrex plc (U.K.), Parkway Products Inc. (U.S.), Stern Industries Inc. (U.S.), Saudi Basic Industries Corporation (SABIC), Shenyang Chemical Co. Ltd. (China), Celanese Corporation (U.S.), Jrlon Inc.(U.S.), Darter Plastics Inc. (U.S.), Zyex Ltd. (U.K), Ensminger(Germany) and Caledonian Industries (U.K) are the leading shareholders of the Global PEEK market. These companies are currently focused on expansion strategies to improve their market value and position.
Market Recent Developments:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Glass Filled
5.1.3 Carbon Filled
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 End User
5.2.2 Electrical & Electronics
5.2.5 Oil & Gas
5.2.8 Y-o-Y Growth Analysis, By End User
5.2.9 Market Attractiveness Analysis, By End User
5.2.10 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By End User
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By End User
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Stern Industries Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Solvay S.A.
8.3 A. Schulman AG
8.4 Evonik Industries AG
8.5 J K Overseas
8.6 Panjin Zhongrun High Performance Polymers Co. Ltd.
8.7 Caledonian Ferguson Timpson Ltd
8.8 Quadrant Epp Surlon India Ltd.
8.9 Jida Evonik High Performance Polymers Co. Ltd.
8.10 Victrex plc
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures