September 12, 2022 08:26 ET | Source: Data Bridge Market Research Data Bridge Market Research
ATLANTA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market research has a newly released expansive study titled “Global Polyether Ether Ketone (PEEK) Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Polyether Ether Ketone (PEEK) market report gives out an all-inclusive study about production capacity, consumption, import, and export for all the major regions across the world. Incredible industry insights and know-how of the greatest market opportunities in the Polyether Ether Ketone (PEEK) industry required for successful business growth can be gained with this market research report. Business intelligence has been employed here to generate this market report which is a vital aspect when it comes to accomplishing thorough and wide-ranging market insights. The Polyether Ether Ketone (PEEK) report provides the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, preferences for a particular product,s and market demand and supply scenarios.
The global polyether ether ketone (PEEK) market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.6% in the forecast period of 2022 to 2029 and is expected to reach USD 1,062.29 million by 2029.
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PEEK is a colorless organic thermoplastic polymer, a member of the poly aryl ether ketone (PAEK) family. It is a homopolymer having a single monomer. It is a semi-crystalline thermoplastic with exceptional chemical and mechanical properties that are retained even at higher temperatures. It shows resistance to deterioration during various sterilization procedures. Hence it can be sterilized with heat sterilization methods without affecting its properties. Its chemical structure makes it highly resistant to chemical and radiation damage, compatible with reinforcing agents such as glass and carbon fibers and has greater strength than metals. These properties make it highly suitable for industrial applications.
Rapid advancement in medical and healthcare applications and stringent regulations to reduce CO2 emissions are expected to provide opportunities in the global polyether ether ketone (PEEK) market. However, challenging processing conditions for polyether ether ketones may challenge the global polyether ether ketone (PEEK) market growth.
Some of the major players operating in the Polyether Ether Ketone (PEEK) market are
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In February 2022, Arkema became the finalist at the JEC Composites Innovation Awards 2022. Arkema, in partnership with Somocap, was one of the 30 finalists for this 2022 edition in the Building and Civil Engineering category through the project led by Optimas. This has enhanced the company's reputation in the market
The overall market is also anticipated to experience a wide range of applications in the medical industry over the forecast period. Currently, it is used for spinal surgery and is expected to be used for more clinical applications and commercial medical products with more research and development. There is a continuous need for research and development in the medical industry to explore untapped clinical applications of PEEK. On account of the lack of long-term clinical data, currently, the PEEK product has limited application in the field, but it is expected to boost over in the near future owing to its huge potential as a replacement for other materials used.
PEEK is emerging as an environment-friendly solution in various applications. Its application leads to low carbon emissions compared to other polymers, including polyester laminate, polyvinyl chloride and polystyrene, among others. PEEK increases the service life of the products in which it is used by providing excellent corrosion resistance. It also performs well under high temperatures. It is one of the most versatile products in terms of providing manufacturing design freedom and thus results in less dependence on labor.
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Polyether Ether Ketone (PEEK) Market:- Regional Analysis/Insights
The global polyether ether ketone (PEEK) market is segmented based on country, type, application and end use.
Some countries in the polyether ether ketone (PEEK) market report are the U.S., Canada, Mexico, U.K., Germany, U.K., France, Italy, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands and Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand and Rest of Asia-Pacific, Egypt, Saudi Arabia, United Arab Emirates, South Africa, Israel and Rest of the Middle East and Africa.
China is expected to dominate the Asia-Pacific polyether ether ketone (PEEK) market owing to the growing demand for automobiles and consumer goods in the region. The U.S. is expected to dominate in the North American region owing to the increasing demand for PEEK polymer for bearings in the region. Germany is expected to dominate the Europe polyether ether ketone (PEEK) market due to growing awareness of the excellent characteristics and properties of PEEK in the region.
Polyether Ether Ketone (PEEK) Key Benefits over Global Competitors:
Part 02: Scope Of The Report
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