Polyetheretherketone (PEEK) Market to Record an Exponential CAGR by 2024
View Full Report:
“On account of being technologically sensitive, the PEEK market caters to niche applications,” observed the TMR report’s author. This is one of the key reasons why the prime focus of producers is on constantly upgrading their product portfolios. Besides this, increasing production capacities and the development of novel products are a few strategies sought by the market players.
According to TMR, the global polyetheretherketone market, which was valued at US$451.5 mn in 2015, is expected to reach US$832.6 mn by the end of 2024. If the figures hold true, the global PEEK market will exhibit a CAGR of 7.1% between 2016 and 2024. Regionally, North America and Europe led the overall market in 2015 with a cumulative share of 60.5%. By application, the electrical and electronics segment held the dominant share of 27.6% in the market in 2015. The trend of miniaturizing electronic devices necessitates the use of plastic at a very high temperature. This is likely to drive PEEK usage in the sector.
Excellent Mechanical Properties of PEEK to Fuel its Demand
“In the last few years, the usage of PEEK has increased at a tremendous pace primarily due its exceptional mechanical properties,” said a lead TMR analyst. PEEK has a much lower density than metals. Design engineers are thus increasingly using PEEK as a popular substitute for metals in diverse applications. For instance, compelled by stringent emission control norms automobile manufacturers are compelled to shift towards using lightweight materials. Spurred by this, the global polyetheretherketone market is forecast to exhibit strong growth during the course of the forecast period.
Request to view Sample Report:
In addition, with the trend of miniaturizing electrical items gaining pace, the market is likely to witness lucrative growth opportunities. PEEK maintains its electrical performances even at high frequencies and possesses high strength at elevated temperatures. These mechanical properties make it ideal for use in the miniaturization of electrical components. Besides this, PEEK manufacturers are hoping to gain significantly from the rising use of PEEK in the medical industry. PEEK implants are bone-friendly and offer greater biocompatibility, which make them more convenient than metal implants.
Request to download and view full ToC -
High Cost of PEEK Grades Considered Major Restraint to Growth
On the downside, a large number of companies refrain from using a few grades of PEEK, which are priced higher than other high performance plastics. PEEK is often expensive due to the high cost of monomer and advanced technological requirements. This factor is restraining the market’s trajectory to an extent. In addition, technological challenges in molding PEEK pose threat to the market. Stringent regulatory barriers on the use of PEEK across various application will also create bottlenecks for the global PEEK market, thereby adversely affecting its prospects for growth.
Global Polyetheretherketone (PEEK) Market Report is available at US$ 5795 -
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Polyetheretherketone (PEEK) Market to Record an Exponential CAGR by 2024 here
News-ID: 749550 • Views: 118
More Releases from Transparency Market Research Reports
Acrolein Market Outlook, Competitive Landscape And Forecasts To 2024
Acrolein, also known as 2-propenal is the simplest unsaturated aldehyde. It’s a colourless liquid and exhibits a disagreeable acrid smell.. Acrolein is manufactured from petrochemical feedstocks such as propylene and glycerine. Acrolein is primarily used as an important intermediate and a specialty chemical. Acrolein is rapidly gaining importance due to its versatile use in plastic and paint industries. One of the most widely used industrial methods of preparing acrolein involves
Polycyclohexylenedimethylene Terephthalate (PCT) Market Set For Rapid Growth And …
Polycyclohexylenedimethylene terephthalate (PCT) is typically a thermoplastic polyester produced from the polycondensation of cyclohexylene-dimethanol and terephthalic acid. The chemical structure of polycyclohexylenedimethylene terephthalate (PCT) is quite similar to that of polyethylene terephthalate (PET). Moreover, the properties of polycyclohexylenedimethylene terephthalate (PCT) such as dimensional stability and chemical resistance are same as that of polyethylene terephthalate (PET). Furthermore, PCT is principally resistant to hydrolysis and high temperatures. Owing to all such properties,
Sulfur Chemicals Market Outlook, Competitive Landscape And Forecasts To 2024
Global Sulfur Chemicals Market: Overview The growing demand for sulfur chemicals in various end use industries such as the food, wine, pharmaceuticals, oil and gas, agriculture, detergents, and bio chemical processes is aiding the expansion of the global sulfur chemicals market. Sulfur chemicals are also vital ingredients in fertilizers. They are used in the vulcanization of black rubber, for plaster production in the construction industry, and for the treatment of
Urethane Adhesives Market To Receive Overwhelming Hike In Revenues By 2024
Global Urethane Adhesives Market: Brief Description Urethane adhesives are referred to as materials which are moisture curing and have a single cure and component when they are unprotected in the presence of moisture either in substrate or in the atmosphere. During the process of the cure, a little amount of carbon dioxide is given out in the atmosphere which further has no effect on the bonding process. Urethane adhesives are elastic
More Releases for PEEK
Medical PEEK Polymers Market Size, Share, Development by 2024
New report published by Global Info Research which offers insights on the Global Medical PEEK Polymers market. Click to view the full report TOC, figure and tables: https://www.globalinforesearch.com/global-medical-peek-polymers-market_p106952.html Global Medical PEEK Polymers Market: Forecast by Type / Application / Region Scope of the Report: The worldwide market for Medical PEEK Polymers is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2024, from
Polyether Ether Ketone (PEEK) Market Research Report - Forecast 2017 – 2025
Over the years, chemical and metallurgical advancements have produced several polymers that possess properties relatively better than or comparable to those of metals. Polyether ether ketone (PEEK) is a semi-crystalline thermoplastic comprising repetitive monomers of two ether groups and a ketone group. Polyether ether ketone (PEEK) belongs to the polyaryletherketone (PAEK) family and is obtained by the dialkylation of bisphenolate salts through step growth polymerization process. Polyether ether ketone (PEEK)
PEEK (Polyaryletheretherketone) Market Report 22017-2022
PEEK (Polyaryletheretherketone) PEEK (Polyaryletheretherketone) market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Browse Detailed TOC @ https://www.reportsandmarkets.com/reports/asia-pacific-peek-polyaryletheretherketone-market-report-2017-1642225 Geographically, this report split Asia-Pacific into several key Regions, with sales (K MT), revenue (Million USD), market share and growth rate of PEEK (Polyaryletheretherketone) for these regions, from
Kapil Sharma Gives A Sneak Peek Into KJO'S Koffee Hamper
Karan Johar's chat show 'Koffee With Karan' is one of the favourite chat shows of all times. While the audience gave a massive response to the earlier four seasons, Karan is back with the fifth season of the show. And this time Karan will dig into the personal lives of the guests which he will be inviting on his show. Three episodes for which have already been aired. Recently comedy king
Peek-a-boo Comment on Increase of Mandarin-speaking Nannies
London, United Kingdom (28 June, 2011) – Peek-a-boo, a leading au-pair and nanny agency in London, has seen an increase in demand in recent years for Mandarin-speaking nannies. Peek-a-boo has attributed this increase in demand to the struggling UK economy, and the rise in the number of UK nationals moving to Hong Kong, China, for more financial stability. Since China joined the word trade, it has seen much economic success, and
Peek-a-boo Purchase Cupcakes Nanny Agency
London, United Kingdom (19 November, 2010) – Peek-a-boo, a leading au-pair and nanny agency in London, have recently purchased the reputable nanny agency Cupcakes, and are looking to encourage those looking for au pair services or au pair agencies in London to choose from their vast pool of talent. Peek-a-boo has a nanny payroll service which makes them unique and extra professional as an agency, a one-stop shop for all childcare