Polyether Ether Ketone (Peek) Market Size, Share, Emerging Opportunities, Strategies, Drivers, Outlook and Forecast to 2024

Polyether Ether Ketone (PEEK) Market Size, Share, Key Trends,

Emerging Opportunities, Outlook and Forecast to 2024

The global polyether ether ketone (PEEK) market is expected to reach USD 1.03 billion by 2024, according to a new

report by Grand View Research, Inc. Increasing high-performance plastics demand as a substitute to metals in

automobiles on account of growing need for high efficiency and low weight materials is expected to drive overall

industry demand in near future.

The stringent environmental regulatory framework in developed markets of the U.S. and Europe has forced the

automobile industry participants to use such an alternative which helps in decreasing fuel consumption by

enhancing overall fuel efficiency. Such regional trends are anticipated to positively impact global volumes over the

forecast period.

Browse Full Report with TOC @ http://www.radiantinsights.com/research/polyether-ether-ketone-peek-market

Excellent performance features including superior strength and heat resistance are expected to propel product

preference in end-use industries such as food, medical, aerospace, semiconductors and packaging sectors.

Glass filled was the major product segment and accounted for approximately 44.9% of total market volume in

2015. The product finds application in industrial, electric & electronics applications. Carbon filled is anticipated to

witness at the highest CAGR from 2016 to 2024.

Further key findings from the report suggest:

The global PEEK market demand was 5,048.2 tons in 2015 and is expected to exceed 10,000 tons by 2024, growing

at a CAGR of 8.5% from 2016 to 2024

Automotive emerged as the leading consumer of PEEK and accounted for 28.1% of total volume in 2015. It is also

expected to witness the highest growth of 9.4% over the forecast period. Increasing need for a highly efficient

material which will help in reducing fuel consumption resulting in lower emission levels is expected to drive this

segment.

The product...