Theglobal polyetheretherketone(PEEK) market hasa consolidative vendor landscape, the analysts of Transparency Market Research(TMR) estimates based on a detailed investigation. The key players in thepolyetheretherketone (PEEK) market, including Solvay S.A., Evonik Industries,and Panjin Zhongrun High Performance Engineering Plastic Co., Ltd are operatingin the global polyetheretherketone (PEEK) market. In 2015, Victrex plcaccounted for the dominant share of 66.3% in the global polyetheretherketone(PEEK) market. This defined the highly consolidated vendor landscape of themarket.
Accordingto TMR, the global polyetheretherketone (PEEK) market is estimated to expand ata CAGR of 7.1% over the forecast period from 2016 to 2024. With this robustCAGR, the market is expected to attain a value of US$832.6 mn by the end of2024 from a value of US$451.5 mn in 2015.
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Overthe most recent couple of years, the use of PEEK has expanded at a giganticpace essentially due its remarkable mechanical properties. PEEK has a muchlower thickness than metals. Configuration engineers are in this wayprogressively utilizing PEEK as a mainstream substitute for metals in assortedapplications. For example, constrained by stringent discharge control standardscarmakers are constrained to move towards utilizing lightweight materials.Prodded by this, the worldwide polyetheretherketone market is figure to displaysolid development over the span of the gauge time frame.
Furthermore, with the pattern of scaling downelectrical things picking up pace, the market is probably going to observeworthwhile development openings. PEEK keeps up its electrical exhibitions evenat high frequencies and has high quality at raised temperatures. Thesemechanical properties make it perfect for use in the scaling down of electricalparts. Other than this, PEEK makers are planning to pick up essentially fromthe rising utilization of PEEK in the restorative business. PEEK inserts arebone accommodating and offer more noteworthy biocompatibility, which make themmore helpful than metal inserts.
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Staggeringexpense of PEEK Grades Considered Major Restraint to Growth
Onthe drawback, an extensive number of organizations shun utilizing a couple ofevaluations of PEEK, which are estimated higher than other superior plastics.PEEK is regularly costly because of the mind-boggling expense of monomer andprogressed innovative prerequisites. This factor is limiting the market'sdirection to a degree. What's more, innovative difficulties in trim PEEKpresent danger to the market. Stringent administrative hindrances on theutilization of PEEK crosswise over different application will likewise makebottlenecks for the worldwide PEEK market, accordingly antagonisticallyinfluencing its prospects for development.
Bythe by, with advancement of new applications and rising open doors in thedeveloping countries, PEEK producers can hope to observe solid development inthe pending years.
Thisinformation is encompassed in the report by TMR, titled,“Polyetheretherketone (PEEK) Market (Application - Automotive, Industrial,Aerospace, Electrical & Electronics, and Medical) - Global IndustryAnalysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
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Forthe study, the polyetheretherketone (PEEK) market has been segmented asfollows:
ApplicationAnalysis
· Automotive
· Industrial
· Aerospace
· Electrical & Electronics
· Medical
· Others
Geography
· NorthAmerica
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
o Spain
o Italy
o Rest of Europe
· Asia Pacific
o China
o Japan
o Australia
o India
o Rest of Asia Pacific
· LatinAmerica
o Brazil
o Mexico
o Rest of Latin America
· Middle East& Africa
o South Africa
o Saudi Arabia
o Rest of Middle East & Africa
