What is Global PEEK Special Engineering Plastics Market?
The Global PEEK Special Engineering Plastics Market is a sector that focuses on the production and distribution of PEEK (Polyether Ether Ketone), a type of high-performance plastic. This material is known for its excellent mechanical and chemical resistance properties even at high temperatures. It is a semi-crystalline thermoplastic with excellent mechanical and chemical resistance properties that are retained to high temperatures. The term "PEEK" is an acronym derived from the chemical name of this plastic. The global market for this special engineering plastic is vast and diverse, catering to various industries worldwide. The PEEK plastic is considered special due to its unique properties that make it stand out from other types of plastics. It is highly resistant to thermal degradation as well as attack by both organic and aqueous environments. It is highly resistant to abrasion and impact, making it suitable for various applications in different industries.
PEEK Powder, PEEK Particle in the Global PEEK Special Engineering Plastics Market:
PEEK Powder and PEEK Particle are two forms of PEEK Special Engineering Plastics that are widely used in the global market. PEEK Powder is a high-performance plastic that is used in various applications due to its high temperature resistance, excellent mechanical properties, and outstanding chemical resistance. It is often used in industries such as automotive, aerospace, and medical due to its ability to withstand harsh environments. On the other hand, PEEK Particle is a type of PEEK plastic that is in a granular form. It is often used in injection molding processes due to its ease of use and versatility. Both PEEK Powder and PEEK Particle have a significant presence in the global PEEK Special Engineering Plastics Market due to their wide range of applications and superior properties.
Electrical and Electronics, Automotive and Transportation, Machinery and Energy, Medical and Healthcare, Aerospace in the Global PEEK Special Engineering Plastics Market:
The Global PEEK Special Engineering Plastics Market finds its usage in various sectors such as Electrical and Electronics, Automotive and Transportation, Machinery and Energy, Medical and Healthcare, Aerospace. In the Electrical and Electronics sector, PEEK plastics are used due to their excellent electrical insulation properties. In the Automotive and Transportation sector, they are used due to their high heat resistance and durability. In the Machinery and Energy sector, PEEK plastics are used due to their high mechanical strength and resistance to wear and tear. In the Medical and Healthcare sector, they are used due to their biocompatibility and resistance to sterilization processes. Lastly, in the Aerospace sector, PEEK plastics are used due to their lightweight and high performance characteristics.
Global PEEK Special Engineering Plastics Market Outlook:
To put the Global PEEK Special Engineering Plastics Market into perspective, in 2022, the market was valued at US$ 523.2 million. It is projected to reach a value of US$ 783.4 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.1% from 2023 to 2029. When it comes to the product, PEEK particle holds the largest segment with a share of over 80%. As for the application, the automotive and transportation sector holds the largest share, accounting for about 30% of the market. This data provides a snapshot of the current state of the Global PEEK Special Engineering Plastics Market and its potential growth in the coming years.
| Report Metric | Details |
| Report Name | PEEK Special Engineering Plastics Market |
| Accounted market size in 2022 | US$ 523.2 million |
| Forecasted market size in 2029 | US$ 783.4 million |
| CAGR | 6.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Victrex, Solvay, Evonik, Jilin Joinature Polymer, JUSEP, Zhejiang PFLUON, Panjin Zhongrun, Shandong Haoran |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
