“The demand of PEEK is expected to be driven by introduction of electric vehicles, increase in use of automated vehicles, development in 3D printing technology, regulation regarding CO2 emission and increase in standard of living”.
The report titled “Global PEEK Market Outlook to 2025- By Type (Glass Filled, Unfilled and Carbon Filled), By Application (Oil & Gas, Electronics & Electrical, Aerospace & Defense, Automotive, Medical and others) and By Region (Europe, Asia-Pacific, North America, South America and MEA)” by Ken Research suggests that the Global PEEK Industry is booming with expanding sales volume owing to increase in number of expired patents, increase in production capacity, increase in awareness regarding environmental protection, fluctuating oil price and technological changes in the electronics industry. The market is expected to register growth at CAGR of 7.2% and 8.0% by revenue and sales volume respectively during 2018-2025F.
Increasing Global PEEK Production Capacity: The top 3 producers of PEEK have increased their production capacity in 2014-2016. In 2014, Victrex introduced a new production plant which increased the company’s production capacity to 7,150 tons per annum. In 2015, Evonik increased its PEEK production capacity by 25.0%. In 2016, Solvay increased its PEEK production capacity to more than 2,500 tons per annum by expanding production in its existing plant.
Increasing Environmental Consciousness: Increasing awareness regarding minimization of CO2 emissions has driven the producers in aerospace and automotive industry to use light weight, fuel efficient materials like PEEK. Increase in fuel efficiency leads to reduction in fuel cost which generally accounts for 35% of the total cost to the aerospace companies. For instance, according to an industry report, replacing 100 meters of metal tubing per plane by PEEK tubes can lead to savings of up to USD 1.6 million in fuel costs and 5,500 tons of CO2 emissions per year.
Technological Developments: PEEK is a material chosen by producers to develop innovative goods with state of art technology. For instance, PEEK is used by Dyson to produce impellers for vacuum cleaners to make the machine sound proof and to increase the air flow. PEEK in the mobile industry has lead to development of thinner, lighter and smarter devices. PEEK in acoustic film application in mobile phones has helped developers to get better sound quality in small space. PEEK is also used in electromechanical components of mobile phones as it provides better antenna signals to phones with metal backs and it enables production of sleek new designs with thin-wall components that can replace or integrate with metals for streamlined manufacturing.
Key Segments Covered:-
By Type
Glass Filled
Unfilled
Carbon Filled
By Application
Oil & Gas
Compressor Components (Valve Plates and Valve Rings, Motor End Plates, and Piston Rings, Rider Bands, and Rod Packing)
Backup Seals and Backup Rings
Under the Sea Electrical Applications (Connector Pins, Wire Coatings, Housing and others)
Pipes Application (Pipe precursor, Pipe Laminate and Pipe Connectors)
HPLC Units (High Performance Liquid Chromatography Units includes Tubing and Fittings)
Others (Umbilical, Pump Housing, Wellhead Seals And Connectors, Wire Bundle Clamps, Gas Separation Gears, Impellers, Industrial Hoses, Jumpers, Magnet Wire, Tags, Sensors Slick Line Components, Slot Liners, Thrust Washers, Tubular and others)
Electronics & Electrical
Semiconductor Wafer Production and Testing Units (Wafer Carriers, Wafer Handler Arm, Wafer Polishing Rings, Testing Sockets and Other Components)
Speakers Components (Spiders, Acoustic Diaphragms, Coils, and Front Suspensions)
Impellers in Vacuum Cleaner and Hairdryers
Compressor in Refrigerators and AC
Acoustic Membrane and Electromechanical Components in Mobile Phones
Others (Printer components including heat roller gears, guide claws and bushings, sensors, Three-dimensional circuit carriers in LED, xenon HID lights, Motor end caps, ECU housings, Bobbins and solenoids, Connectors, Circuit protection/relays, Actuator housings, Li-Ion battery systems, Fuse boxe and others)
Aerospace & Defense
Brackets, Clamps, Stand-offs & Fasteners
Interior Hardware (Floor supporting structure, Passenger Service Units including screen dragging unit, oxygen components, inside seat arm handle and others)
Thermal & Acoustic Aircraft Insulation Blankets
Tubing
Others (Wire Harness and Connectors, Drink Dispensers, Doors and Windows, Coatings and others)
Automotive
Seals, Thrust Washers, Bushings And Bearing Cages
Braking System
Gears
PEEK Composites and Others (Under-The-Hood Piston Units, Housing, Enclosures, Air-Conditioning Systems and others)
Medical
Spinal Implant
Dental Implant
Others (Ortho And Trauma Application Including Knee Implants, Hip Implants, Shoulder Arthroscopy, Implant Screws, Bone Plates And Others, Instrument In Labels, Delivery Instruments such as Syringes, Handles On Dental Syringes, Sterile Boxes to Hold Root Canal Files, Endoscopes, Dialyzers and others)
Others (Food Processing, Consumer goods, Packaging, Building and construction and others)
By Region:-
Europe
North America
Asia-Pacific
South America
MEA
Countries Covered:-
Germany
France
Italy
UK
US
Canada
China and Taiwan
Japan
South Korea
India
Brazil
Saudi Arabia
Key Target Audience:-
PEEK Producers
PEEK Semi-Finished and Compound Producers
Producers of Other Engineering Material
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2025
Companies Covered in Global PEEK Market:-
PEEK Producers
Victrex
Solvay
Evonik
Jilin Zhongyan High Performance Plastic
Panjin Zhongrun High Performance Polymer
PEEK Compounds or Semi Finished Good Producers
Saudi Basic Industries Corporation (SABIC)
Ensinger
Mitsubishi Chemical Advanced Materials (MCAM)
Rochling Group
Celanese
LATI Thermoplastic Industries
For more information on the research report, refer to below link:-
Global PEEK Market
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Ken Research
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Ankur@kenresearch.com
+91-9015378249
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