LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global polyether ether ketone (PEEK) market is projected to grow to USD 802.67 million by 2021, at a CAGR of more than 10% over the forecast period.
This research report titled ‘Global Polyether Ether Ketone Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|PEEK is one of the most studied polymers among aromatic ketone polymers (AKPs), used in the most demanding and harsh processing environments. The global PEEK market encompasses applications in the electrical and electronics, automotive, aerospace, and oil and gas industries.|
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Based on the type, the report categorizes the global PEEK market into the following segments:
- Glass-filled PEEK
- Carbon-filled PEEK
- Unfilled PEEK
“The glass-filled polyether ether ketone segment occupied more than 82% of the market in 2016 and is expected to grow swiftly over the forecast period. Its applications involving sliding parts and high static loads for extended periods is expected to drive the growth of the market segment,” says Hitesh Bhatia, a lead analyst at Technavio for specialty chemicals research.
Glass-filled PEEK or glass fiber reinforced PEEK has better stiffness, dimensional stability, and creep resistance, which makes them suitable to be used in combination with a general-purpose grade or unfilled PEEK to obtain a significant reduction of expansion rate and increase in the flexural modulus of PEEK.
Carbon-filled PEEK or carbon fiber reinforced PEEK offers better load-bearing capabilities, continuous high-temperature workability, and resistance to hydrolysis. Carbon fibers added to unfilled PEEK enhances the compressive strength and stiffness of PEEK, which results in lowering the expansion rate.
The global carbon-filled PEEK market was valued at USD 45.94 million in 2016 and is expected to showcase a moderate growth rate over the forecast period. The black color of the carbon-filled PEEK products is aesthetically appealing, which is expected to drive the growth of the market segment.
“Unfilled, or general-purpose polyether ether ketone offers the maximum elongation and toughness when compared to the other varieties of polyether ether ketones. It also possesses unique functionalities such as static dissipation and high-temperature processability,” says Hitesh.
The unique functionalities of the product can be achieved by reinforcing unfilled PEEK. It also complies with the Food and Drug Administration (FDA) regulations for food contact materials, making it suitable for use in the packaging and pharmaceutical applications.
The top vendors highlighted by Technavio’s research analysts in this report are:
- A. Schulman
- Caledonian Industries
- Evonik Industries
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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