Middle East Polyether Ether Ketone (PEEK) Market Size

The Middle East Polyether Ether Ketone (PEEK) market is experiencing growth, driven by its application in various industries such as automotive, aerospace, and electrical and electronics. The region's market size is influenced by factors like the increasing demand for consumer goods and medical equipment, as well as the rising semiconductor production. Despite a dip due to COVID-19, the market has shown recovery with consistent raw material supply. The United Arab Emirates stands out as the largest consumer, with significant growth in its aerospace and electronics sectors, while Saudi Arabia's demand is bolstered by its expanding vehicle production and electronics market.

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Market Size of middle east polyether ether ketone (peek) Industry

Middle East Polyether Ether Ketone (PEEK) Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 7.26 Million
svg icon Market Size (2029) USD 11.12 Million
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 8.91 %
svg icon Largest Share by Country United Arab Emirates

Major Players

Middle East Polyether Ether Ketone (PEEK) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Middle East Polyether Ether Ketone (PEEK) Market Analysis

The Middle East Polyether Ether Ketone (PEEK) Market size is estimated at 7.26 million USD in 2024, and is expected to reach 11.12 million USD by 2029, growing at a CAGR of 8.91% during the forecast period (2024-2029).

7.26 Million

Market Size in 2024 (USD)

11.12 Million

Market Size in 2029 (USD)

10.29 %

CAGR (2017-2023)

8.91 %

CAGR (2024-2029)

Largest Market by End-user Industry

24.80 %

value share, Electrical and Electronics, 2023

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Owing to the widespread applications of high-performance PEEK-based products in advanced and smart electrical devices, the electronics segment occupied the highest market share.

Fastest Growing Market by End-user Industry

10.54 %

Projected CAGR, Electrical and Electronics, 2024-2029

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The growth of this segment is attributed to the rising demand for use in high-end applications, such as smart devices and electronic insulators used in harsh environmental conditions.

Largest Market by Country

29.80 %

value share, United Arab Emirates, 2023

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Due to the escalating demand for PEEK-based materials in major industries, including aerospace and premium automotive in recent years, the United Arab Emirates occupied the highest market share.

Fastest Growing Market by Country

10.07 %

Projected CAGR, United Arab Emirates, 2024-2029

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Owing to the rapid growth of civil aviation and significant investments in the military and defense industry, the United Arab Emirates is likely to register the fastest growth during the forecast period.

Leading Market Player

92.36 %

market share, Victrex, 2022

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With the continuous development of PEEK-based products and increasing sales in the market, Victrex occupied the largest share in the region.

Electronics industry may dominate the demand for PEEK

  • Polyetheretherketone (PEEK) material is prevalent in many industries due to its lightweight and high quality in terms of strength, low fatigue, and low flammability. Due to its low flammability, it can withstand combustion up to nearly 600°C. The Middle East has a 1.03% share of the revenue in the global PEEK market.
  • The PEEK market in the Middle East recorded a dip in 2020 due to the impact of COVID-19. The market declined by 4.33% in terms of revenue compared to 2019. The supply chain disruptions, raw material shortage, and nationwide lockdown in several countries in the region have impacted the market. However, due to a consistent supply of raw materials, revenue for PEEK resin increased in successive years, with a growth rate of 15.32% in 2022.
  • PEEK resin is commonly used in other-end user industries segment of the Middle East market. The region produces consumer goods, such as kitchen and household utensils, furniture, and sports equipment, using PEEK resin. The rising demand for consumer goods and medical equipment is expected to drive the demand for PEEK resin in the coming years.
  • Electrical and electronics is expected to be the fastest-growing end-user industry for PEEK resin in the Middle East, with an expected CAGR of 10.71% in terms of revenue during the forecast period of 2023-2029. The consumption of PEEK resin in the industry is expected to reach around 22.59 tons by 2029. The rising semiconductor production in the Middle East is expected to drive the demand for PEEK resin. For instance, Saudi Arabia’s Advanced Electronics Company (AEC) signed an MoU aimed at accelerating the Kingdom’s digital ecosystem development, including the localization of semiconductor chip manufacturing.
Middle East Polyether Ether Ketone (PEEK) Market

United Arab Emirates to overtake Saudi Arabia due to demand for PEEK in various industries

  • The Middle East accounted for 1.03% of the global PEEK consumption in 2022. PEEK is a key polymer in the Middle East for various industries, including automotive, aerospace, and electrical and electronics.
  • The United Arab Emirates (UAE) is the largest consumer of PEEK in the region due to its growing aerospace, automotive, and electrical and electronics industries. Aerospace component production held a revenue share of 17.2% of the overall Middle Eastern market. It is expected to reach USD 802 million by 2029 from USD 533 million in 2023.
  • Saudi Arabia's demand for PEEK resin is increasing significantly due to rising vehicle production and the growing electronics industry. Saudi Arabia is the region's second-largest vehicle producer. In 2022, the country produced 12,780 units. Its electronics market is also expanding, and the electronics production revenue is expected to reach USD 23.33 billion in 2029 from USD 12.68 billion in 2022.
  • The Rest of Middle East regional segment comprises Iran, Iraq, Turkey, Yemen, Oman, and other countries. Automotive production in the Rest of Middle East is expected to reach 1.36 million units by 2029 from 1.19 million units in 2023, which may drive the resin demand in the region.
  • The United Arab Emirates is the fastest-growing consumer of PEEK resin, with a CAGR of 10.27% in terms of value during the forecast period. The revenue of the aerospace and electrical and electronics industries are expected to account for shares of 12% and 51%, respectively, in 2027, thus boosting the demand for PEEK resin. The UAE aerospace industry is expected to record a CAGR of 8.51% by revenue during the forecast period, thus driving the demand for PEEK resin.

Middle East Polyether Ether Ketone (PEEK) Industry Segmentation

Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Saudi Arabia, United Arab Emirates are covered as segments by Country.

  • Polyetheretherketone (PEEK) material is prevalent in many industries due to its lightweight and high quality in terms of strength, low fatigue, and low flammability. Due to its low flammability, it can withstand combustion up to nearly 600°C. The Middle East has a 1.03% share of the revenue in the global PEEK market.
  • The PEEK market in the Middle East recorded a dip in 2020 due to the impact of COVID-19. The market declined by 4.33% in terms of revenue compared to 2019. The supply chain disruptions, raw material shortage, and nationwide lockdown in several countries in the region have impacted the market. However, due to a consistent supply of raw materials, revenue for PEEK resin increased in successive years, with a growth rate of 15.32% in 2022.
  • PEEK resin is commonly used in other-end user industries segment of the Middle East market. The region produces consumer goods, such as kitchen and household utensils, furniture, and sports equipment, using PEEK resin. The rising demand for consumer goods and medical equipment is expected to drive the demand for PEEK resin in the coming years.
  • Electrical and electronics is expected to be the fastest-growing end-user industry for PEEK resin in the Middle East, with an expected CAGR of 10.71% in terms of revenue during the forecast period of 2023-2029. The consumption of PEEK resin in the industry is expected to reach around 22.59 tons by 2029. The rising semiconductor production in the Middle East is expected to drive the demand for PEEK resin. For instance, Saudi Arabia’s Advanced Electronics Company (AEC) signed an MoU aimed at accelerating the Kingdom’s digital ecosystem development, including the localization of semiconductor chip manufacturing.
End User Industry
Aerospace
Automotive
Electrical and Electronics
Industrial and Machinery
Other End-user Industries
Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
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Middle East Polyether Ether Ketone (PEEK) Market Size Summary

The Middle East Polyether Ether Ketone (PEEK) market is experiencing a notable growth trajectory, driven by its applications across various industries such as automotive, aerospace, and electrical and electronics. PEEK's properties, including lightweight, high strength, low fatigue, and low flammability, make it a preferred material in these sectors. The market, which faced challenges in 2020 due to the COVID-19 pandemic, has rebounded with a consistent supply of raw materials and increasing demand for consumer goods and medical equipment. The United Arab Emirates stands out as the largest consumer of PEEK in the region, fueled by its expanding aerospace and electronics industries. Saudi Arabia is also emerging as a significant market, with rising vehicle production and a growing electronics sector contributing to the increased demand for PEEK resin.

The electrical and electronics industry is poised to be the fastest-growing end-user sector for PEEK resin in the Middle East, driven by the region's burgeoning semiconductor production and investments in digital infrastructure. The market is fairly consolidated, with major players like Jilin Joinature Polymer Co., Ltd., Pan Jin Zhongrun High Performance Polymer Co., Ltd., and Victrex dominating the landscape. Recent developments, such as Victrex's introduction of a new implantable PEEK-OPTIMA polymer for medical device manufacturing, highlight the ongoing innovation and expansion within the market. As the Middle East continues to diversify its industrial base and invest in technology, the demand for PEEK resin is expected to grow, supporting the region's economic development and industrial capabilities.

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Middle East Polyether Ether Ketone (PEEK) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Electrical and Electronics

      4. 1.1.4 Industrial and Machinery

      5. 1.1.5 Other End-user Industries

    2. 1.2 Country

      1. 1.2.1 Saudi Arabia

      2. 1.2.2 United Arab Emirates

      3. 1.2.3 Rest of Middle East

Middle East Polyether Ether Ketone (PEEK) Market Size FAQs

The Middle East Polyether Ether Ketone (PEEK) Market size is expected to reach USD 7.26 million in 2024 and grow at a CAGR of 8.91% to reach USD 11.12 million by 2029.

In 2024, the Middle East Polyether Ether Ketone (PEEK) Market size is expected to reach USD 7.26 million.

Middle East Polyether Ether Ketone (peek) Market Report Snapshots

Middle East Polyether Ether Ketone (PEEK) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029