Polyether Ether Ketone (PEEK) Market By Type, By End-User, By Geography — Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2019–2026

The Global Polyether Ether Ketone (PEEK) Market was valued at USD 0.5 Billion in 2016, and is expected to register a CAGR of 6.04% over the forecast period 2020–2026. High chemical resistance, greater dimensional stability over conventional materials and rising number of applications in the healthcare and automotive industry are the key factors propelling the market growth.

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Polyether Ether Ketone (PEEK) is a semi crystalline, engineering thermoplastic that is produced at a high temperature and is suitable for applications that possess chemical, thermal and combustion properties. Simultaneously, Polyether Ether Ketone (PEEK) emits low smoke when exposed to flame. The material being tough and rigid offers a high creep resistance. Additionally, it resists high radiation and a broad variety of solvents. Polyether Ether Ketone (PEEK) resins are available as reinforced, glass-fiber reinforced and carbon-fiber reinforced. The composite applications include marine, oil-well, medical, aerospace and automotive industries.

In addition, PEEK offers high tensile strength, good wear resistance, low coefficient of friction and a high chemical resistance with low moisture absorption. It is commonly used for high temperature application that requires a blend of thermal and combustion properties. Electrical properties of PEEK are rarely stimulated by moisture under environment conditions. As a result, polyether ether ketone is capable of retaining even under high temperature that demands environmental conditions that qualifies it for any engineering applications.

PEEK enables working effectively at high service temperatures, offers good chemical and hydrolysis resistance, enables good insulating properties, excellent machinability and possesses frictional properties. In the healthcare domain, PEEK performs exceptionally that is suitable for medical applications. The crystalline structure is highly suitable for surgical instruments and demonstrates PEEK to pose as an implantable material with an increase in number of applications. At the present, use of PEEK for orthopaedic implants form as a major trend in the healthcare domain that are customized to get in sync with particulate differences. Contemporarily, limited standard for PEEK exists and the criterion for PEEK designed through extruding, machining and compression are often molded.

Polyether Ether Ketone (PEEK) Market Trends, Drivers and Opportunities:

Polyether Ether Ketone (PEEK) market is significantly driven by the growing need for lightweight materials in various domains such as aerospace, automotive and medical. Market opportunities such as rise in use of PEEK applications for electrical and electronics and demand for lightweight materials. At present, the healthcare industry is likely to steer the market growth. For instance, in the developed regions, PEEK finds a holistic use for sterilization, orthopaedics and medical and dental devices. Implantable PEEK is commercially available in order to enhance the biocompatibility. Rise in automotive production influences the demand to a high extent.