Global Polyaryletherketone (PAEK) Market

Polyaryletherketone (PAEK) Market Size, Share, Growth Analysis, By Type(Polyetheretherketone (PEEK) and Polyetherketoneketone (PEKK)), By Application(Aerospace, Automotive, Medical, Electrical and Electronics), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2417 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Polyaryletherketone (PAEK) Market News

  • In May 2023, SABIC announced the launch of its new PAEK grade, the SABIC Ultem 1000G. This grade is designed to be more flame-retardant and easier to process than traditional PAEK grades. [May 2023, SABIC]
  • In April 2023, Solvay announced the expansion of its PAEK production capacity in Europe. This expansion will allow Solvay to meet the growing demand for PAEKs in the European market. [April 2023, Solvay]
  • In March 2023, Ensinger announced the launch of its new PAEK-based composites. These composites are designed to be more lightweight and high-performance than traditional composites. [March 2023, Ensinger]
  • In February 2023, Victrex plc announced the launch of its new PAEK grade, the Victrex PEEK 450G. This grade is designed to be more wear-resistant and easier to process than traditional PAEK grades. [February 2023, Victrex plc]
  • In January 2023, Evonik announced the launch of its new PAEK grade, the Evonik Amodel 55G. This grade is designed to be more flame-retardant and easier to process than traditional PAEK grades. [January 2023, Evonik]
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Polyaryletherketone (PAEK) Market size was valued at USD 9.5 billion in 2021 and is poised to grow from USD 10.08 billion in 2022 to USD 16.19 billion by 2030, growing at a CAGR of 6.1% during the forecast period (2023-2030).

Polyaryletherketone (PAEK) market is characterized by intense competition and a dynamic landscape. PAEK is a high-performance thermoplastic polymer that exhibits exceptional mechanical, thermal, and chemical properties, making it suitable for a wide range of applications across various industries. The market for PAEK is driven by factors such as increasing demand from end-use sectors, advancements in manufacturing processes, and the need for lightweight, durable, and high-temperature resistant materials. 'Victrex plc (UK)', 'Solvay SA (Belgium)', 'Evonik Industries AG (Germany)', 'J.K. Overseas (India)', 'Polyplastics Co., Ltd. (Japan)', 'Quadrant AG (Switzerland)', 'RTP Company (US)', 'Solvay Specialty Polymers (US)', 'Daikin Industries, Ltd. (Japan)', 'Zeus Industrial Products, Inc. (US)', 'Ensinger GmbH (Germany)', 'SABIC (Saudi Arabia)', 'Mitsubishi Chemical Advanced Materials (Switzerland)', 'Celanese Corporation (US)', 'Drake Plastics Ltd. Co. (US)', 'Westlake Plastics Company (US)', 'Saint-Gobain Performance Plastics (France)', 'Arkema S.A. (France)', 'A. Schulman, Inc. (US)', 'EMS-Chemie Holding AG (Switzerland)'

The compatibility of PAEK materials with additive manufacturing or 3D printing technologies has revolutionized the production of intricate shapes and structures. The increasing acceptance of additive manufacturing across industries such as automotive, aerospace, and healthcare has significantly bolstered the demand for PAEK materials. Their unique characteristics, including high strength, excellent thermal resistance, and chemical stability, make them an ideal choice for additive manufacturing applications, propelling the growth of the PAEK market.

Demand for high-performance thermoplastics: PAEK, including its variants such as Polyetheretherketone (PEEK), Polyetherketoneketone (PEKK), and Polyetherketone (PEK), offers exceptional mechanical, thermal, and chemical properties, making it a preferred material for challenging applications. The trend is driven by the need for lightweight, durable, and high-strength materials in sectors such as aerospace, automotive, electronics, healthcare, and oil and gas. PAEK materials are increasingly being used as replacements for metals and other traditional materials due to their superior characteristics, including high temperature resistance, excellent chemical resistance, low flammability, and high mechanical strength.

North America has traditionally held a significant share in the PAEK market, primarily driven by the presence of established industries and a robust demand for high-performance materials. The region's advanced healthcare infrastructure, aerospace industry, and automotive sector have been key factors contributing to the dominance of North America in the PAEK market. The US, in particular, has a strong presence of major PAEK manufacturers and end-user industries, leading to a substantial market share in the region.

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Global Polyaryletherketone (PAEK) Market

Report ID: SQMIG15E2417

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