Polyaryletherketone (PAEK) Market Size, Share & Industry Analysis By Type (Polyetheretherketone (PEEK), Polyetherketone (PEK), Polyetherketoneketone (PEKK), Others), By Application (Automotive, Industrial & General Engineering, Aerospace, Electrical & electronics, Medical, Others) and Regional Forecast, 2024-2032

Polyaryletherketones (PAEKs) have the sequence of ether and ketone groups in the repeating units. The most common of these are polyetheretheretherketone (PEEK), polyether ketone (PEK), polyetheretherketoneketone (PEKK), polyetheretheretherketoneketone (PEEKK), and polyetherketoneketone (PEKEKK), all of which are commercially produced. Polyaryletherketones (PAEKs) are a class of high-performance semi-cristalline engineering thermoplastics with a rare combination of thermal stability, chemical resistance and excellent mechanical properties over a wide range of temperatures. This polymer class also has good combustion resistance, and good electrical efficiency. Oil drilling materials, such as valve parts, gears, compressor rings, seals, bearings, and wire coatings, are one of the major engineering application of polyaryletherketones. It is also used in the chemical pump industry as it can withstand temperature, stress and has the resistance to corrosion.

The numerous properties such as compressive power, inherent flame retardance, and wear and creep resistance of polyetherketone is likely to increase their demand in medical applications for body implants, dental devices, and drug delivery components. PEEK is expected to witness sales growth due to growing consumption of products such as electrostatics, cookware, bearings, industrial coatings, and body implants in the automotive, oil and gas, medical, and aerospace industries. The growing number of increasing healthcare investments, chronic diseases, and technological advancements is likely to create opportunities for the market. In addition, supportive government initiatives will improve the medical industry, and these developments are projected to drive the PAEK market during the forecast period. Polyetherketoneketone consumption (PEKK) is increasing due to various properties such as inherent flame retardance, compressive power, and resistance to wear and creep.

The major disadvantage of polyetherketone is its high cost, the difficulties involved in removing volatiles during healing to obtain a void-free bond, the handling or healing difficulty, high melt processing temperatures, and relatively low glass transition. Another aspect that hampers demand is the availability of alternatives, these alternatives are available at slightly lower production prices, and consumers may be inclined toward these substitutes due to their low prices.

Market Segmentation:

Based on type, the market for polyaryletherketone (PAEK) is segmented into polyetheretherketone (PEEK), polyetherketone (PEK), polyetherketoneketone (PEKK), and others, Based on application, the market for polyaryletherketone (PAEK) is classified into automotive, industrial & general engineering, aerospace, electrical & electronics, medical, and others.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global polyaryletherketone (PAEK) market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the polyaryletherketone (PAEK) market includes;

• Victrex plc


• Solvay


• Arkema group


• J.K. Overseas


• Gharda Chemicals Ltd.


• Evonik Industries


• Quadrant AG


• Caledonian Industries Ltd.


• Ensinger


• Jrlon, Inc


• Others

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Polyaryletherketone (PAEK) market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

The polyaryletherketone (PAEK) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to hold the major share of the global polyaryletherketone (PAEK) market due to the increase in preference for metal replacement with PAEK to improve fuel efficiency and minimize vehicle weight in the region. North America is expected to expand at a significant pace. Jrlon, Inc., RTP Company, and Tri-Mack Plastics Manufacturing Corporation are prominent PAEK manufacturers in the region. Robust manufacturing base and rapid growth of the U.S. automotive industry is likely to increase demand for vehicle production, which in turn is anticipated to fuel PAEK demand. The Asia Pacific is projected to expand at a rapid pace during the forecast period. A large customer base in China's automobile, medical equipment, and telecommunications sectors is anticipated to increase new construction projects and thus likely to drive the market. Mexico is one of the major automotive component producers in the world. Mexico has thus become the primary target of global automotive manufacturers as they actively search out untapped opportunities for production. This is likely to provide opportunities for the market.

Segmentation

Polyaryletherketone (PAEK) Industry Developments

• In Januray 2020, High performance polymer solutions manufacturer Victrex announced the venture between Yingkou Xingfu Chemical Company, and Victrex Hong Kong. Both companies together plan to set up, and operate a new PolyEther Ketone (PEEK) polymer production plant in Liaoning, China.


• In April 2017, Victrex plc announced the acquisition of Zyex, one of the leading PEEK fiber manufacturers for the aerospace, automotive and industrial industries. The acquisition will further allow Victrex to expand the use of PEEK fibers in 3D printing applications.