Market Size – USD 721.4 Million in 2019, Market Growth – CAGR of 6.8%, Market Trends –Increasing demand from the automotive industry
Peek Polymers maintains its physical form and physical characteristics under tremendously high temperatures up to 480 degrees Centigrade. It is approved by the FDA for use in the food & beverage industry. Also, it is resistant to harsh chemicals and emits significantly less amount of toxic-gases.
The study is a professional probe into the revenue generated and capacity estimates for the PEEK market for the forecast period 2020 – 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations.
The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
The PEEK market in the Asia Pacific region is estimated to grow at the fastest rate in the forecast period due to considerable economic growth, developing healthcare infrastructure, rising incidence of cancer, and a rising popularity of advanced diagnostic procedures.
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Key Highlights From The Report
In October 2019, Solvay launched KetaSpire® PEEK XT, which provides the benefits of standard PEEK’s chemical resistance and improved strength and rigidity at higher temperatures.
PEEK plastic gives a maximum weight saving of 80.0% than metals. The lightweight characteristic, along with low friction and wear rate and exceptional resistance to corrosion, can enhance the total transmission efficiency.
Europe contributed to significant market share in 2019 attributed to stringent regulatory policies and technological innovations in the aerospace and automotive industries.
Key participants include Celanese Corporation, Solvay SA, Darter Plastics Inc., Evonik Industries, Prototype & Plastic Mold Co. Inc., SABIC, Victrex PLC, Panjin Zhongrun High Performance Polymers Co. Ltd., Jrlon Inc., and Quadrant Epp Surlon India Ltd., among others.
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Knowing the trends influencing the industry performance
Stakeholders, marketing executives and business owners planning to refer a market research report can use this study to design their offerings and understand how competitors attract their potential customers and manage their supply and distribution channels. When tracking the trends researchers have made a conscious effort to analyze and interpret the consumer behaviour. Besides, the research helps product owners to understand the changes in culture, target market as well as brands so they can draw the attention of the potential customers more effectively.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Electrical & Electronics
Oil & Gas
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