Polyaryletherketone Market: By Product, Polyetherketoneketone, Polyether ether ketone and Others), By End User and Geography
Polyaryletherketone (PAEK) Market size was valued at US$ 982 million in 2023 and poised to grow at significant CAGR of 6.7% over 2024-2030. Some of the key factors influencing the market include rising number of OEM companies, cost reduction across numerous end-used industries, increasing demand for PAEK owing to its superior properties and growing automotive and oil & gas industries. However, rising demand for substitutes such as PPS and PEI are hampering the market growth. In addition, market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Moreover, PBI analyzed market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global polyaryletherketone (PAEK) products. The presence of substitutes such as PPS and PEI and there increasing demand in the construction and automotive sectors is anticipated to restrict market growth. High-performance engineering plastic with numerous properties, such as excellent temperature properties, excellent chemical resistance and high creep resistance poses a challenge for the market. Global Polyaryletherketone (PAEK) market is surging owing to frequent acquisitions and launchings by the market players. For Instance,
In February 2017, Solvay launched a new specialty polymer resin based unit in Augusta in Georgia, U.S. The particular resin processing facility, together with a site presence in Asia, was aimed at expanding its PEEK production capacity as well as gaining a significant foothold in the market.
Study Period
2024-2030Base Year
2023CAGR
6.7%Largest Market
Asia PacificFastest Growing Market
North America
Polyaryletherketones are among the most effective high-temperature thermoplastics. Consumption has almost doubled in the past five years. The growth of automotive industry across the globe is extremely affecting the growth of the market. This application is expected to provide huge opportunity to for industry participants to upsurge market existence as it is used for manufacturing components of gearbox, clutch and chassis. Moreover, the growing automotive industries in the evolving regions are anticipated to considerably contribute to the growth of the market.
Asia Pacific accounted for larger revenue share in global polyaryletherketone (PAEK) market with considerable CAGR which can be attributed to growth in automotive, aerospace industries and rising government investments in R&D in the region.
Further, existence of key automobile companies, including Toyota, Honda, Daihatsu, Nissan, and Suzuki, is likely to have a positive impact on this market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 982 million |
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Market CAGR |
6.7% |
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By Product |
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By end user |
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By Region |
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
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The global polyaryletherketone paek market size was valued at US$ 982 million in 2023 projected to grow at CAGR 6.7% from 2024-2030.
The Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The Market key players Victrex Plc (U.K), Solvay (Belgium), Arkema Group (France), JK Overseas (India), Quadrant AG (Switzerland), Gharda Chemicals Ltd (India), Evonik Industries AG (Germany), Caledonian Industries Ltd (U.K), Zyex Ltd (U.K), Panjin Zhongrun High Performance Polymers Co Ltd (China)
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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