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Oct 6, 2020 2:40 PM ET

Polyaryletherketone Market is set for a Rapid Growth and is expected to Reach USD 1218 Million by 2026

iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Polyaryletherketone (PAEK) Market Report by Product Type (PEK, PEEK, PEKK) and by End-Use Industry (Oil & Gas, Medical, Aerospace & Automotive, Marine, Electrical & Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026 .”According to the report, the Polyaryletherketone Market accounted for USD 764.2 Million in 2018 and is expected to reach USD 1218 Million by 2026, growing at a CAGR of around 6% between 2019 and 2026.

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The global polyaryletherketone market is estimated to observe noticeable growth over the years. Polyaryletherketone is a family of semi-crystalline thermoplastics which exhibits superior properties such as high-temperature stability, excellent mechanical strength, and better chemical resistance. Thus polyaryletherketone is broadly utilized in oil drilling components such as seals, compressor rings, gears, bearings, valve parts, and wire coatings. Rising usage of polyether ether ketone (PEEK) in the aerospace industry owing to its high glass transition temperature property is projected to up-surge the market demand across the globe. Moreover, there is a substantial rise in this market owing to the usage of polyaryletherketone in rotator cuffs and shoulder labrum repair, anterior cervical corpectomy, maxillofacial defects and spinal area in the medical industry.

Global Polyaryletherketone (PAEK) Market

The global polyaryletherketone market has been segmented on the basis of product type and end-use industry. Product type wise, the polyaryletherketone market is segmented into PEK, PEEK, and PEKK where PEK stands for polyetherketone, PEEK stands for Polyether ether ketone and PEKK stands for Poly Ether Ketone Ketone. Among all these segments, the polyetheretherketone segment is projected to have a maximum market share within the forecast period. The polyetheretherketone exhibits superior properties such as excellent heat distortion, good radiation resistance, eco-friendly benefits, low flammability and longer lifespan which led the PEKK segment to grow at a significant rate. On the basis of the end-use industry, the polyaryletherketone market is segmented into oil & gas, medical, aerospace & automotive, marine, electrical & electronics. The aerospace & automotive segment is anticipated to grow at a faster pace within the forecast timeframe. In the aerospace industry, the polyaryletherketone is used as a reliable material to make structures that reduce the weight compared with metals such as aluminum, stainless steel, and titanium. It is also used in film, cable and wire coatings, valve parts and pumps, speed sensors, bulb sockets, and fuse cases and automotive engine parts which are part of oil & gas and automobile industries. For various applications in the field of dental technology, including dental implant systems such as healing caps and temporary abutments, etc. PEEK has been used as an alternative to metal.

Key players for the polyaryletherketone market are Victrex Plc., Evonik Industries AG, Gharda Chemicals Ltd., Caledonian Industries Ltd., JK Overseas, Solvay S.A., and Arkema Group.

This report segments the global polyaryletherketone market as follows:

Global Polyaryletherketone Market: Product Type Segment Analysis

Global Polyaryletherketone Market: End-Use Industry Analysis

Global Polyaryletherketone Market: Regional Segment Analysis

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Keywords:    Polyaryletherketone (PAEK) Market

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