Yahoo Finance Global Polyaryletherketone (PAEK) Market Size Forecasted to Reach USD 1,795.23 Million By 2032, at 6.5% CAGR: Polaris Market Research
[115+ Pages Research Study] According to Polaris Market Research report, the global polyaryletherketone (PAEK) market size & share expected to generate revenue of USD 1,795.23 Million By 2032 and estimated to be valued at USD 953.68 million in 2022, at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2032. The top market company profiles included in report with their sales, revenues and strategies are Amco Polymers., Arkema, Caledonian Industries Ltd, Ensinger GmbH, Evonik Industries AG, Gharda Chemicals Ltd, J.K. Overseas and Others.
New York, NY, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Polyaryletherketone (PAEK) Market Share, Size, Trends, Industry Analysis Report, By Type; By Fillers; By Application (Oil & Gas, Electrical, and Electronics, Aerospace, Automotive, Medical, and Others); By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research study, the global polyaryletherketone (PAEK) market size & share are expected to generate revenue of USD 1,795.23 Million By 2032 and estimated to be valued at USD 953.68 million in 2022, at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2032”
What is Polyaryletherketone (PAEK)? How Big is Polyaryletherketone (PAEK) Market Size & Share?
Overview
Polyaryletherketone (PAEK) is a member of semi-crystalline thermoplastics used in various engineering applications. PAEK has high-temperature stability of 250 °C, high mechanical strength, and flame retardant properties. PAEK plastics are characterized by their phenylene rings and oxygen bridges. Polyaryletherketone (PAEK) is acquired from injection molding, extrusion, and compression molding techniques. PAEK occurs in different types, including polyetherketone (PEK), polyetheretherketone (PEEK), polyetherketoneketone (PEKK), and polyetheretherketoneketone (PEEKK).
PAEK is used in various applications including oil drilling components, such as seals, valve parts, gears, compressor rings, bearings, and wire coatings. It also finds application in the chemical pump industry as it can combat temperature and stress. The rise in the production capacity of PAEK is majorly driving the polyaryletherketone (PAEK) market size. The increased need for PAEK across end-use industries is propelling the market growth.
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Our Sample Report May Includes:
2032 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Requests.
2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of table & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of the Industry Report
Assessment of all opportunities and risks in the market.
Conclusive study about the growth of the market for forthcoming years.
In-depth understanding of market-particular drivers, and constraints.
It provides historical and forecasts revenue of the market segments and sub-segments with respect to main geographies and their countries.
Country-level analysis of the market with respect to the current size and future prospective.
Some of the Top Market Players Covered:
Amco Polymers.
Arkema
Caledonian Industries Ltd
Ensinger GmbH
Evonik Industries AG
Gharda Chemicals Ltd
J.K. Overseas
Jilin Zhongyan High-Performance Plastic Co. Ltd.
NANOCHEMZONE
Nanorh
Panjin Zhongrun High-Performance Polymer Co. Ltd
Quadrant AG
URMA
Victrex plc
Solvay S.A
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Market Dynamics
Key growth Driving Factors
A number of applications of polyetherketoneketone (PEKK) are favoring the industry growth
PAEK market is expected to experience significant growth due to its properties such as stability at higher temperatures and friction resistance. The rising usage of polyether ether ketone (PEEK) in the aerospace industry is anticipated to fuel the polyaryletherketone (PAEK) market sales over the forecast period. Also, the growing demand for clean and renewable energy is another factor supporting the solar photovoltaic (PV) modules, thereby boosting the PAEK industry's evolution. Further, the increasing usage of different polyaryletherketone types in a number of applications, including industrial and general engineering, aerospace, electrical and electronics, and medical, are estimated to propel the growth of the market.
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Recent Trends Influencing the Market
Growing investments in the aerospace sector to push the market growth
A rise in government investments in the aerospace sector in China, India, South Korea, Singapore, and Malaysia is driving the PAEK market sales. Also, increasing development activities by a Canadian aerospace company, Bombardier, coupled with the presence of OEMs such as Honeywell and Boeing in Mexico, is expected to positively influence the polyaryletherketone (PAEK) industry.
For instance, a study published by India Brand Equity Foundation in the year July 2022 reported that India produced OEMs of 22.93 million vehicles where PAEK is used to manufacture automotive parts, like jet engines, battery assembly, bearings, and others. These factors are anticipated to flourish in the market evolution.
Segmental Analysis
Polyether ether ketone (PEEK) segment is estimated to grow at the fastest rate
Based on type polyaryletherketone (PAEK) market segmentation, polyether ether ketone (PEEK) is likely to register the fastest growth. This can be attributed to a surge in demand for PEEK in the medical industry due to the increasing number of diseases, technological development, and a rise in the production rate of medical devices. PEEK is commonly used in orthopedics, facials, and spine surgeries owing to its physio-chemical properties. Moreover, the growing demand for PEEK in the automotive and industrial sectors due to their high strength, flexibility, lightweight, and thermal conductivity attributes is projected to boost the growth of the polyaryletherketone (PAEK) market.
The automotive application segment dominated the market in 2022
By application, the automotive application category held the largest polyaryletherketone (PAEK) market share in 2022 owing to the increasing population, which has led to the increased utilization of PAEK in the automotive industry. Also, the growing production rate of vehicles, coupled with rising logistics and transportation activities, has fueled the market growth. PAEK is also majorly used during the manufacturing process of auto components, engines, seal rings, bearings, and wear pads due to its properties like high mechanical strength, excellent hydrolysis resistance, and superior thermal and electrical stability. In addition, it is also used in the chemical pump industry.
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Polyaryletherketone (PAEK) Market: Report Scope
Report Attribute | Details |
Revenue forecast in 2032 | USD 1,795.23 Million |
Market size value in 2023 | USD 1,015.09 Million |
Expected CAGR Growth | 6.5% from 2023 - 2032 |
Base Year | 2022 |
Forecast Year | 2023 - 2032 |
Top Market Players | Amco Polymers., Arkema, Caledonian Industries Ltd, Ensinger GmbH, Evonik Industries AG, Gharda Chemicals Ltd, J.K. Overseas, Jilin Zhongyan High-Performance Plastic Co., Ltd., NANOCHEMZONE, Nanorh, Panjin Zhongrun High-Performance Polymer Co., Ltd, Quadrant AG, Solvay, URMA, Victrex plc, and Solvay S.A. |
Segments Covered | By Type, By Fillers, By Application, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Europe captured the major revenue share in 2022
In terms of geography, polyaryletherketone (PAEK) market in Europe accounted for the highest revenue share due to the presence of leading automobile producers such as Volkswagen, BMW, Audi, Mercedes-Benz, and Porsche. These players are producing attractive vehicles where PAEKs are utilized for sealing and increasing the aerodynamics of vehicles. Also, continuous product launches, partnerships, business expansion, and other key developments by several companies such as Solvay, Evonik Industries, and Arkema drives the market demand. Increasing consumer demand for electric vehicles and the growing production rate of electronic gadgets are propelling the market growth predicted period.
Furthermore, Asia Pacific is predicted to capture the largest growth during the forecast period. This growth can be attributed to the significant contributions of China, Japan, India, and others to the growth of the PAEK market in the region.
Browse the Detail Report “Polyaryletherketone (PAEK) Market Share, Size, Trends, Industry Analysis Report, By Type; By Fillers; By Application (Oil & Gas, Electrical, and Electronics, Aerospace, Automotive, Medical, and Others); By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/polyaryletherketone-paek-market
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Recent Developments
In September 2020, Evonik Industries introduced the next-generation polyether ether ketone implant material for medical technology under the trade name of VESTAKEEP Fusion. This PEEK enhances the joining between the bone and implants. This strategic product launch is projected to boost the PAEK market in Europe.
Frequently Asked Questions
Who are the crucial companies operating the market?
What are the major industry norms influencing the development of the industry?
Which is the most propelling country in the industry?
Which application or product type will obtain progressive development possibilities during the forecast period?
What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the polyaryletherketone market report based on type, fillers, application, and region:
By Type Outlook
PEEK
PEK
PEKK
By Fillers Outlook
Carbon-filled
Glass-filed
Unfiled
By Application Outlook
Oil & Gas
Electrical, and Electronics
Aerospace
Automotive
Medical
Others
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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