The global polyaryletherketone market size is expected to reach USD 1,795.23 million by 2032, according to a new study by Polaris Market Research. The report “Polyaryletherketone Market Share, Size, Trends, Industry Analysis Report, By Type (PEEK, PEK, PEKK); By Fillers (Carbon-filled, Glass-filed, and Unfilled); By Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Key factors such as rising disposable income among people, high investment in airport infrastructure and development activities, and robust growth of the aerospace industry are projected to enhance the demand for PAEK. PAEK’s high strength and it can withstand high temperatures owing to which it is extensively used in OEM engine parts. This factor is likely to drive the market for PAEK during the forecast period. In addition, the physical and mechanical benefits associated with polyaryletherketones (PAEK) are expected to have a positive impact on market growth.
Booming automotive and electronics industry in various parts of the world is expected to be major catalytic growth factors. The market is expected to increase the preference for the PEEK type segment. PAEK has good mechanical and chemical properties owing to which it is widely used in biomedical, automotive, electronics, and others.
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The increased demand for PAEK, PEEK, and PEKK, from the applications industry such as automotive engines, dental implants, and others. This factor is anticipated in the forecast period to drive market growth. Several key companies are investing and modifying their formulations in the development of PAEK-based products. Several manufacturers such as Solvay, Evonik Industries, Arkema, and others are constantly engaged in product launches, partnerships, business expansion, and other strategic key development which in turn led to a rise in the production rate of the PAEK market. PAEK thermoplastic–based products witnessed a huge jump in the demand from several parts of the world as it was widely used in auto components. The huge demand was driven by the biocompatibility, high thermal and electric stability properties of PAEK.
Polyaryletherketone Market Report Highlights
Polaris Market Research has segmented the polyaryletherketone market report based on type, fillers, application, and region:
Polyaryletherketone, Type Outlook (Revenue - USD Million, 2019 - 2032)
Polyaryletherketone, Fillers Outlook (Revenue - USD Million, 2019 - 2032)
Polyaryletherketone, Application Outlook (Revenue - USD Million, 2019 - 2032)
Polyaryletherketone, Regional Outlook (Revenue - USD Million, 2019 - 2032)