|
(Health-NewsWire.Net, December 03, 2020 ) The report "PAEK Market by Type (PEK, PEEK, PEKK), Fillers(Glass filled, Carbon filled, Unfilled),Application (Oil & gas, Electricals & Electronics, Automotive, Medical, Aerospace), Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2024" The PAEK market is expected to grow from USD 851 million in 2019 to USD 1,149 million by 2024, at a CAGR of 6.2 % during the forecast period. The major factors driving the PAEK market include increasing demand in the medical industry, aerospace and automotive industries and the ability of PAEK to replace metals and other conventional materials in various applications.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=228677971
PEEK to dominate the global PAEK market during the forecast period
The PAEK market has been segmented based on types into PEEK, PEK, and PEKK. Among these types, the PEEK segment accounted for the largest share of the market in 2019 and is likely to witness significant growth over the forecast period. The increase in this segment is attributed to its increasing use in various application such as oil and gas, electrical and electronics, aerospace, medical and automotive as it provides many characteristics to the manufacturing parts which include lightweight, strength or toughness and able to survive longer in harsh environments. These factors are expected to drive the demand during the forecast period.
Glass-filled PAEK to dominate the global PAEK market during the forecast period
The PAEK market has been segmented based on fillers into glass filled, carbon filled, unfilled and others. Among these fillers, the glass-filled segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The growth in this segment is attributed to its increasing use in oil and gas industry and aerospace industry as it is suitable for use in parts which are exposed to high static loads over long periods in high-temperature conditions. It also provides extreme mechanical strength and stiffness combined with excellent dimensional stability. These factors are expected to drive the demand during the forecast period.
Oil and gas application is expected to grow at the highest CAGR in the global PAEK market during the forecast period
Oil and gas application is growing rapidly owing to the rising demand for PAEK materials in anti-wear tape, back-up ring, pipe & liner, seal, subsea connector, compressor, valve and others used in oil and gas industry. This is due to its unique properties such as excellent creep resistance, wear and chemical resistance under high pressure, high-temperature conditions. These characteristics of PAEK increases the consistency of the oilfield equipment and thus extends the life of the equipment in the challenging oilfield environment.
These factors are expected to drive the demand for PAEK in oil and gas application.
Don't miss out on business opportunities in PAEK Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=228677971
Browse in-depth TOC on "PAEK Market”
150 - Market Data Tables
38 - Figures
181 - Pages
Europe is expected to hold the largest market size in terms of volume, in the global PAEK market during the forecast period
Europe is estimated to be the leading PAEK market, in terms of volume, during the forecast period. The growth in the North American region can be attributed to the increased usage of PAEK in the automotive industry to manufacture various interior, exterior, and under-the-hood components for automobiles. The high demand for advanced medical devices is also expected to lead to an increase in the market for PEEK in this region
Victrex PLC (UK), Solvay (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Celanese Corporation (US), Gharda Chemicals Limited (India) and Panjin Zhongrun High-Performance Polymers Co. Ltd. (China), are the leading PAEK manufacturers, globally.
Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=228677971
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
|
