Polyether Ether Ketone (Peek) Market Size, Share, Application Analysis, Regional Outlook, Trends, Competitive Scenario 2012 to 2020

Global PEEK market demand was 4,320 tons in 2013 and is expected to reach 7,562.7 tons by 2020, growing at a CAGR of 8.4% from 2014 to 2020.

PEEK is majorly used for industrial applications which accounted for 27.6% of total market volume 2013. Stringent environment regulations for packaging are expected to drive PEEK demand for industrial applications. In additon, rapid industrialization rates in Asian and Latin American countries are also expected to have a positive impact on the market growth over the forecast period. Automotive is expected to witness the highest growth of 8.9% from 2014 to 2020. Strong shift in trend towards replacing metals with high performance plastics in the U.S. and Europe is expected to drive the segment growth over the forecast period.

Medical and aerospace application segments are also expected to witness significant growth. Currently, PEEK is majorly used as an efficient product for spinal surgeries in medical industry. In aerospace industry, PEEK is used as a raw material for new generation passenger aircrafts.

Europe emerged as a leading regional market and accounted for 55.6% in 2013. Favorable regulatory scenario coupled with presence of major PEEK manufacturers is expected to drive the regional market over the forecast period. Asia Pacific is expected to witness the highest growth of 15.0% from 2014 to 2020. Positive outlook on regional automotive industry is expected to drive the regional market over the forecast period.

Global PEEK market is highly consolidated and is dominated by leading MNCs. Major industry participants include Victrex Plc., Solvay Specialty Polymers, LIC and Panjin Zhongrun High Performance Polymers Co. Ltd. Other companies operating in the global PEEK market include Jida Evonik High Performance Polymers (Changchun) Co. Ltd, Zyex Ltd, A. Schulman AG, Caledonian Ferguson Timpson Ltd, Quadrant EPP Surlon India Ltd and J.K. Overseas.

For the purpose of this study, Grand View Research has segmented the...