According to a new market report published by Lucintel, the future of the global PEEK market looks promising with opportunities in electronics, oil & gas, aerospace, medical, automotive, and other industries. The global PEEK market is expected to reach an estimated $957 million by 2024 with a CAGR of 5.4% from 2019 to 2024. The major drivers for this market are growing demand for high temperature resistance materials in different end use industries.
In this market, PEEK is used in electronics, oil & gas, aerospace, medical, and automotive industries to manufacture products, such as pipes, brackets, ribs, fasteners, gears, transmission system, and spines. Lucintel forecasts that electronics will remain the largest end use industry by value and volume due to its wide use in mobile and semiconductor applications. Aerospace is expected to witness the highest growth over the forecast period due to the increasing usage of PEEK in aircraft components such as brackets, fasteners, and others.
Europe is expected to remain the largest market for PEEK due to the increasing consumption of PEEK in all the major applications in this region. North America is expected to witness the highest growth rate during the forecast period due to the anticipated growth in the aerospace, oil and gas, and electronics industries.
Emerging trend, which has a direct impact on the dynamics of the industry, includes development of new applications, such as car gears, dental disc, and knee implants. Victrex, Solvay, Evonik, Panjin Zhongrun, and Zypeek Jilin are among the major suppliers of PEEK.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global PEEK market by end use industry, by use, and region, and has come up with a comprehensive research report entitled “Growth Opportunities in the Global PEEK Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategies as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global PEEK market by end use industry, use, and region as follows:
By end use Industry [Volume (kilotons) and $M shipment analysis from 2013 to 2024]:
o Mobile Film
o Others Application
• Oli & gas
o Others Application
o Other Applications
o Other Applications
o Transmission System
o Braking System
o Other Application
By use [Volume (kilotons) and $M shipment analysis from 2013 to 2024]:
• Caron Composites
• Glass Composites
By region [Volume (kilotons) and $M shipment analysis from 2013 to 2024]:
• North America
• Asia Pacific
• Rest of the World
This 157-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the global PEEK market by end use industry (electronics, oil & gas, aerospace, medical, automotive, and others), usage (unfilled, carbon composites and glass composites), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?