The report “PEEK Market by Type (Glass Filled, Carbon Filled, Unfilled), End User (Electrical & Electronics, Aerospace, Automotive, Oil & Gas, Medical), Region (Europe, North America, Asia-Pacific, Middle East, South America, Africa) – Global Forecast to 2021″.
The Global Polyether Ether Ketone (PEEK) market is projected to reach USD 664.3 Million by 2021, at a CAGR of 6.3% from 2016 to 2021.
Browse 114 market data tables and 40 figures spread through 156 pages and in-depth TOC on “PEEK Market by Type (Glass Filled, Carbon Filled, Unfilled), End User (Electrical & Electronics, Aerospace, Automotive, Oil & Gas, Medical), Region (Europe, North America, Asia-Pacific, Middle East, South America, Africa) – Global Forecast to 2021”.
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Electrical & electronics is the fastest growing end user segment in the global PEEK market
The PEEK market, by end user, was dominated by the electrical & electronics sector in 2015. This segment is projected to grow at the highest CAGR between 2016 and 2021. The growth of this sector is due to the rising demand from end applications of electrical & electronics industry, including electrical connector, transformer, cable sheath, and so on.
Glass filled is the fastest-growing type segment in the global PEEK market
The glass filled segment accounted for the largest share of the global PEEK market in 2015 and is projected to grow at the highest CAGR from 2016 to 2021. The major driver for the growth of this segment is the growing demand for PEEK products with greater strength and stiffness from key end-use industries.
Victrex plc (U.K.) is projected to continue its dominance in the market over the coming years. It is a debt free company and generated the highest profit margins in the PEEK market in 2015. To establish its strong hold in the North American region and to compete with Solvay S.A. in North America, the company acquired Kleiss Gears, a US polymers gears producer for USD 6 million in 2015. The company has established a major Polymer Innovation Centre in northern England in 2015 and has added new capacities to cater to the increasing demand in the PEEK market. The company also expanded its distribution network for Victrex PEEK globally.
Solvay S.A. (Belgium), another key player operating in the PEEK market, recently expanded its PEEK production capacity to 2,500 tons by establishing a new plant for PEEK production in Georgia (U.S.) in 2016. In addition, the company is investing in high-growth areas and regions such as, North America, Europe, and the Asia-Pacific. The company has adopted new product launches, acquisitions, and expansions strategies to strengthen its market position as a leader in the PEEK market. For instance, in 2015, Solvay S.A. acquired EPIC Polymer (Germany), a long-fiber thermoplastics technology provider, to provide innovative products to its customers.
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The key players operational in the PEEK market include Victrex plc (U.K.), Solvay S.A. (Belgium), Evonik Industries AG (Germany), and Panjin Zhongrun High Performance Polymers Co. Ltd., (China), among others.
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