Polyaryletherketone Market Analysis, Size, Applications Share, Trends & Forecast, 2019 – 2025
Polyaryletherketone (PAEK) Market size is expected to cross
USD 1.5 billion by 2025, according to research conducted by Global Market
Insights, Inc. Continuous developments in the medical device sector to combat
the complex health related issues will characterize the global PAEK demand.
Medical device manufacturing has witnessed rapid changes over the past few
years due to increasing government initiatives. For instance, Government of
India has facilitated easy modes of foreign direct investments (FDI) in the
medical sector in 2017 to boost manufacturing of medical devices in the
country. Major international players such as 3M, Hollister, Becton Dickinson,
etc. have made the Asia Pacific region as their manufacturing base due to
liberal regulatory policies, lower labor costs, and ease of doing business.
The U.S. is also likely to witness rising usage of medical
devices in the coming years due to increasing geriatric population in the
country. In 2015, the U.S. Census Bureau had reported around 49 million people
in the geriatric population category. PAEK products are biocompatible and show
superior thermal, chemical, and biological stability. These products are widely
used for the production of implant devices, surgical instruments, structural
components for medical devices, etc.
High price associated with the product and
substitute availability in the industry are likely to hamper the
polyaryletherketone market growth in future. Fiber reinforced polymers such as
polyamide (PA), polyethylene terephthalate (PET), polycyclohexylene dimethylene
terephthalate (PCT), and polybutylene terephthalate (PBT) are some of the
substitute products which have high thermal and chemical resistance and will
provide stiff competition to the product demand.
Polyaryletherketone
(PAEK) Market is segregated into product type and end-use sectors. The product
type segment is divided into PEKK, PEK, PEEK and others. The other products
include less popular products such as PEEKK and PEKEKK. Among all product
types, PEEK will hold sway the market and will account for more than half of
the overall market by the end of the forecast period. It is used in the
production of various industrial parts and components such as valves, O-rings,
bearings, etc.
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https://www.gminsights.com/industry-analysis/polyaryletherketone-paek-market
On the basis of end-use sector, the Polyaryletherketone Market is
bifurcated into medical, marine, electrical & electronics, aerospace &
automotive, oil & gas and others. The other end-use sector includes
textile, 3D printing, protective coatings, etc. Among these, aerospace &
automotive and marine will collectively hold more than 30% volume share of the
entire market and is likely to witness high growth over coming years. PEEK is
used for various aircraft applications including seating & structural
supports, bracket for luggage compartment retainers, vent grills, critical
assembly components, nuts & bolts, tubing & pipes, etc.
Victrex, Mitsubishi Chemical
Advanced Materials, Ensinger, Arkema, Gharda Chemicals, RTP Company, Evonik
Industries, Akro Plastic, Lehvoss Group, Panjin Zhongrun Chemical, Triveni
Chemicals Limited, Toray Advanced Composites are some prominent players in the
polyaryletherketone (PAEK) market.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Polyaryletherketone Market Analysis, Size, Applications Share, Trends & Forecast, 2019 – 2025
Reviewed by GMI
on
July 07, 2019
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