Home Press Releases Polyaryletherketone (PAEK) Market Size Worth $1,795.23 Million By 2032 CAGR: 6.5%

Polyaryletherketone (PAEK) Market Size Worth $1,795.23 Million By 2032 CAGR: 6.5%

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

  • PEEK type segment is anticipated to grow at a high CAGR over the forecast period owing to the growing usage of PAEK in automotive and medical industry.
  • Glass filled segment accounted for largest market share which is accelerated by the emerging therapeutic role and rise in the number of surgery, dental implantations, and increase in the production rate of medical devices.
  • Automotive sector is expected to hold the significant market share over the forecast period due to the growing population coupled with a rise in the production rate of vehicles, increase in the logistics and transportation activities has driven the PAEK market in the automotive industry.
  • Europe is expected to grow at a high CAGR over the projected period on account of to the strong presence of top automobile manufacturers such as BMW, Mercedes-Benz, Porsche, Audi, & Volkswagen which are consistently adding value by producing desirable and attractive cars.
  • The global players include Arkema, Evonik industries, Solvay, Caledonian Industries, and others.

 

Polaris Market Research has segmented the polyaryletherketone market report based on type, fillers, application, and region:

 

Polyaryletherketone, Type Outlook (Revenue – USD Million, 2019 – 2032)

  • PEEK
  • PEK
  • PEKK

Polyaryletherketone, Fillers Outlook (Revenue – USD Million, 2019 – 2032)

  • Carbon filled
  • Glass-filled
  • unfilled

Polyaryletherketone, Application Outlook (Revenue – USD Million, 2019 – 2032)

  • Oil & Gas
  • Electrical and Electronics
  • Aerospace
  • Automotive
  • Medical
  • Others

Polyaryletherketone, Regional Outlook (Revenue – USD Million, 2019 – 2032)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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