Latest News- Polyaryletherketone (PAEK) Market: Oil and gas is expected to lead the Application segment during 2024-2028

The Polyaryletherketone (PAEK) Market is being driven by Increasing demand in various end-user industries

The Polyaryletherketone (PAEK) Market is expected to grow at a CAGR of 7.19% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 432.94 million. PEEK, or Polyaryletherketone, is a semi-crystalline organic polymer with a chemically stable structure, providing significant advantages over traditional metal materials. In the consumer electronics sector, PEEK's unique properties, including lightweight, cost-effectiveness, and non-conductivity, make it an increasingly popular choice. PEEK fasteners, such as screws, are now preferred over metal alternatives in the production of smartphones, computing devices, and gaming equipment. Similarly, the automotive industry benefits from PEEK's exceptional chemical and heat resistance, making it a valuable material for various applications within this sector. 

Get more information on Polyaryletherketone (PAEK) Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Oil and gas
  • Automotive
  • Aerospace
  • Electrical and electronics
  • Others
• Product
  • PEEK
  • PEK
  • PEKK
• End-User
  • OEMs
  • Aftermarket
  • Research Institutions
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand in various end-user industries
• Ability of PAEK to produce less toxic and corrosive fumes when burnt
• Increased demand from construction industry in China

However, the market also witnesses some limitations, which are as follows:

• High costs associated with PAEK
• Rising demand for substitutes like PPS and PEI
• Impact of volatile crude oil prices

Benefits of Buying Global Polyaryletherketone (PAEK) Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Polyaryletherketone (PAEK) Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Polyaryletherketone (PAEK) market encompasses High-Performance PAEK, with various grades, modifications, blends, alloys, and formulations, each offering unique properties and performance. Characterization, testing, and processing techniques are crucial for manufacturing these advanced materials. The industry's size, growth, and market share are influenced by drivers, restraints, opportunities, and trends. Key players include suppliers, manufacturers, and distributors, with ongoing research, development, and innovations shaping the future of PAEK. Regulations, sustainability, environmental impact, recycling, and breakthroughs are essential aspects of this dynamic market.

Market Research Overview

The Polyaryletherketone (PAEK) market is a segment of the larger global commodity chemicals market, which encompasses businesses specializing in the production of industrial and basic chemicals such as plastics, synthetic fibers, films, and commodity-based paints and pigments. According to Technavio, this market is driven by the expanding demand for high-performance plastics, particularly in the packaging industry, due to their superior properties including high-temperature resistance, chemical resistance, hydrolytic stability, dimensional stability, and mechanical strength. The global commodity chemicals market's growth is fueled by this increasing demand for high-performance polymers, as well as other factors like the growing automotive and aerospace industries, and the shift towards lightweight materials in various end-use sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/