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Global PEKK Market Insights & Development Forecast during 2018 to 2028 || Top Growing Industries- Arkema Group, Gharda Plastics, TenCate Advanced Materials, Solvay, Hexcel Corporation, APEXCO-PPSi, miniFactory Oy LTD
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Global PEKK Market Dynamics
PEKK Market Drivers
The rapid growth of the automotive industry has been creating upsurge in demand for PEKK. These are used for the manufacturing of automotive coatings, composites and other parts as well as electronic products, such as high voltage equipment, semiconductors, wire and cables. High growth in aircraft demand due to increasing population and rising spending power of the population is projected to support the demand for PEKK over the forecast period. There has been significant increase in demand of high performance materials, which have been driving the business growth of PEKK. Increasing disposable income in the developing countries is pushing the automotive market.
PEKK Market Restraints
One of the major challenges faced by the global PEKK market is its high cost. Large players in the market are continuously focusing on bringing innovations and developing processes to produce low-cost PEKK products. The large players can rip out the benefits of economies of scale and thus, sustainable growth for small players in the PEKK market is one of the big challenges in this market.
Additionally, presence of various alternative materials, including light weight metals and other polymers and plastics, is another restraining factor for this market. Environmental regulations to recycle plastics is another restraining factor for the PEKK market.
PEKK Market Trends
Automotive manufacturers are focusing on creating lightweight materials for component manufacturing. PEKK is a material of choice in various automotive and automotive electronic component manufacturing processes. Growth in automotive industry in emerging economies is therefore pushing the demand for PEKK.
As per the Boeing outlook, some of the new aircrafts use a considerable amount of advanced composites. PEKK is also used in the manufacturing of various composites. High demand for these composites is expected to further push the demand for PEKK from the aerospace industry.
To know more about the PEKK Market Trends, visit this link- https://www.factmr.com/report/1815/pekk-market
Global PEKK Market Segmentation
The global PEKK market can be segmented on the basis of application, end use industry and region.
On the basis of application, the global PEKK market can be segmented as:
Cable
Coating
Circuit boards
Composites
Fibers
Gaskets
Machine Components
Flanges
Seals
Other Components
On the basis of end use industry, the global PEKK market can be segmented as:
Automotive & Transportation
Aerospace
Electronics & Electrical
Other Industries
Global PEKK Market: Regional Outlook
Automotive manufacturers are shifting from mature regions to emerging countries, such as India and China. The global PEKK market is anticipated to be dominated by the Asia Pacific region, with China leading the market, both in terms of production and consumption. India is also anticipated to witness sound growth in demand for PEKK owing to the rapid growth in the automotive industry in the country. North America and Europe are collectively anticipated to hold significant share in the PEKK market and the growth in aerospace industry in the region is anticipated to further drive the demand for PEKK in the coming years. Significant investments and recovering economy in Brazil and Argentina are projected to drive the Latin America PEKK market. Middle East and Africa is projected to witness moderate growth in demand for PEKK over the forecast period, due to initiatives being taken by various Middle East countries towards making of a diversified economy.
Global PEKK Market Participants
Some of the market participants identified across the value chain of global PEKK market are:
Arkema Group
Gharda Plastics
TenCate Advanced Materials
Solvay
Hexcel Corporation
APEXCO-PPSi
miniFactory Oy LTD
EVONIK
Zyex Ltd
RTP Company
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
Regional analysis includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
Eastern Europe (Russia, Poland, CIS)
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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About FactMR
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