The global polyaryletherketone (PAEK) market is expected to grow with healthy CAGR of 7.5% over the forecast period from 2019 to 2029. The market growth is supported by growing demand of PAEK in various applications including automotive, aerospace consumer goods, electrical & electronics, and healthcare. Continuous R&D and innovations by major manufacturers will also lead to increased demand of PAEK. As a result of continuous research and advanced development, there are many grades of PAEK with different specifications on the market.
High costs of products made from polyaryletherketone (PAEK) are probable to hamper market growth. As the prices of raw materials tend to stay high, the general price of the item will rise and will affect future market growth. Another factor that hinders market growth is the availability of substitutes, these replacements are accessible at slightly reduced market costs, and clients may be inclined to these replacements in view of price advantages.
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Polyetheretherketone (PEEK) is the most widely used PAEK among other types. For example, the semi-crystalline thermoplastic material is characterized by its excellent temperature, chemical and wears resistance. It has very good dimensional stability over a very wide temperature range and is able to withstand continuous service temperatures of up to 260°C. Additional characteristics include high strength and rigidity, exceptional performance over a broad spectrum of temperatures, hydrolytic stability, aggressive substance resistance and very excellent tribological properties. In the unreinforced state, the plastic is extremely solid and particularly impact resistant.
Leading companies featured in the Polyaryletherketone Market Report 2019-2029 report include Arkema, Caledonian Industries Ltd., Ensinger GmbH, Evonik Industries AG, Gharda Chemicals Ltd., J.K. Overseas, Panjin Zhongrun High Performance Polymer Co., Ltd., Quadrant AG, Solvay S.A., Victrex plc among others. Mergers & acquisitions and joint ventures constitute some of the industry players’ common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
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The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2019 to 2029. In addition, the report includes dedicated leading companies covering 10 leading polyaryletherketone producers.
The report on the Polyaryletherketone Market Report 2019-2029 will appreciate anyone who wants to better understand the market in various end use industries. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the polyaryletherketone industry.
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