PEEK Market size was valued at US$ 721.3 Mn. in 2022 and the total revenue is expected to grow at a CAGR of 6.3% through 2022 to 2029, reaching nearly US$ 1106.36 Mn.
PEEK Market Overview:
The PEEK Market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the PEEK Market, as well as the causes for variances in the industry's growth in different areas.
Market Scope:
To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
Dynamics:
The market is primarily being driven by the rising demand from end-user sectors including the aerospace and electrical industries. The market has a significant potential for growth due to the usage of PEEK in various rapidly expanding industries, which might cause it to multiple times reach the list of billion-dollar markets. A significant additional factor driving the expansion of the global market is the widespread use of glass-filled PEEK.
Due to its advantages, PEEK polymers are increasingly being used in place of conventional materials including steel, aluminium, and wood. They outperform other common materials in terms of strength-to-weight ratios, chemical resistance, and impact resistance.
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Segmentation:
by Type
Glass Filled
Carbon Filled
Unfilled
by End Use
Electrical Electronics
Aerospace
Automotive
Oil Gas
Medical
Other
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Key Players: The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the PEEK Market are
4. Saudi Basic Industries Corporation (SABIC)
5. Panjin Zhongrun High Performance Polymers Co. Ltd
6. Celanese Corporation
7. Zyex Ltd
8. Quadrant Epp Surlon India Ltd
9. Prototype Plastic Mold Co. Inc.
10. Jrlon Inc.
11. J. K. Overseas
12. Darter Plastics Inc.
13. Caledonian Ferguson Timpson Ltd
14. Stern Industries Inc.
15. A. Schulman Inc.
16. Mitsubishi Chemical Corporation
17. PolyOne Corporation
18. LATI Industria Termoplastici S.p.A.
19. Saudi Basic Industries Corporation (SABIC)
Regional Analysis: The region portion of the PEEK Market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on PEEK Market:
Following the outbreak of the pandemic, end-user sectors where PEEK Market are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for PEEK Market manufacturers, influencing the growth of the PEEK Market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for PEEK Market from end-user businesses has decreased significantly.
Key Questions answered in the PEEK Market Report are:
- Which are the major companies in the PEEK Market?
- Which is the potential market for PEEK Market in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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