Market Size of Polyaryletherketone (PAEK) Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Polyaryletherketone (PAEK) Market Analysis
The polyaryletherketone (PAEK) market is expected to register a CAGR of greater than 6% during the forecast period.
The COVID-19 pandemic in 2020 had a negative impact on the polyaryletherketone market. However, the market has recovered since then owing to the growth in the related industries. Steady growth in the electronics, automotive, aerospace, and oil and gas industries has positively impacted the market since then, thereby driving the market study.
- The factors driving the growth of the market are the increasing demand from the automotive industry owing to its high strength and ability to withstand high temperatures. The demand for PAEK is also expected to increase in the oil and gas segment due to the physical and mechanical benefits associated with it.
- On the contrary, the availability of substitute products at cheaper rates is likely to hinder the market's growth.
- However, advancements in technology, especially in the electric vehicle segment, and the replacement of traditional metals with specialty thermoplastics are likely to generate numerous growth opportunities for the market during the forecast period.
- The Asia-Pacific region has been dominating the market due to the huge investments and high demand for PAEK from various end-user industries.
Polyaryletherketone (PAEK) Industry Segmentation
Polyaryletherketone (PAEK) is a class of high-performance semi-crystalline engineering thermoplastics with high temperature stability and high mechanical strength whose molecular backbone contains alternate ketone and ether groups. The polyaryletherketone (PAEK) market is segmented by type, form, filler, application, and geography. By type, the market is segmented into polyetheretherketone (PEEK), polyetherketone (PEK), polyetherketonketone (PEKK), and other types. By form, the market is segmented into tape, compound, sheet, fiber, and film. By filler, the market is segmented into glass-filled, carbon-filled, unfilled, and others. By application, the market is segmented into automotive, aerospace, electrical and electronics, medical, oil and gas, and other applications. The report also covers the market size and forecasts for the PAEK market in 15 countries across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD million).
Type | |
Polyetheretherketone (PEEK) | |
Polyetherketone (PEK) | |
Polyetherketonketone (PEKK) | |
Other Types |
Form | |
Tape | |
Compound | |
Sheet | |
Fiber | |
Film |
Filler | |
Glass-filled | |
Carbon-filled | |
Unfilled | |
Other Fillers |
Application | |
Automotive | |
Aerospace | |
Electrical and Electronics | |
Medical | |
Oil and Gas | |
Other Applications |
Geography | |||||||
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Polyaryletherketone (PAEK) Market Size Summary
The polyaryletherketone (PAEK) market is poised for significant growth, driven by its increasing application across various industries such as automotive, aerospace, electronics, and oil and gas. The material's high strength, temperature resistance, and durability make it particularly valuable in the automotive sector, where it is used in components like drive-train systems, engine assemblies, and brake systems. The rise in electric vehicle production further fuels demand, as PAEK's properties align well with the needs of modern automotive engineering. Despite challenges from cheaper substitutes, technological advancements and the shift towards specialty thermoplastics present substantial opportunities for market expansion.
The Asia-Pacific region stands out as a dominant force in the PAEK market, supported by robust industrial growth and substantial investments in countries like China, India, and Japan. China's leadership in vehicle production and electric vehicle manufacturing, along with India's burgeoning electric vehicle industry, underscores the region's strategic importance. Additionally, the electronics sector in Asia, particularly in China and Japan, continues to expand, further bolstering the demand for PAEK. The market is characterized by a few key players, including Arkema, Solvay, and Victrex plc, who hold significant market shares and are actively involved in innovations and strategic acquisitions to enhance their competitive edge.
Polyaryletherketone (PAEK) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Automotive Industry
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1.1.2 Growing Demand from the Oil and Gas Sector due to Physical and Mechanical Benefits
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1.2 Restraints
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1.2.1 Availability of Substitute Products at Cheaper Rates
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Polyetheretherketone (PEEK)
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2.1.2 Polyetherketone (PEK)
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2.1.3 Polyetherketonketone (PEKK)
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2.1.4 Other Types
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2.2 Form
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2.2.1 Tape
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2.2.2 Compound
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2.2.3 Sheet
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2.2.4 Fiber
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2.2.5 Film
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2.3 Filler
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2.3.1 Glass-filled
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2.3.2 Carbon-filled
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2.3.3 Unfilled
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2.3.4 Other Fillers
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2.4 Application
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2.4.1 Automotive
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2.4.2 Aerospace
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2.4.3 Electrical and Electronics
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2.4.4 Medical
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2.4.5 Oil and Gas
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2.4.6 Other Applications
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 France
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2.5.3.4 Italy
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2.5.3.5 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle-East and Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle-East and Africa
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Polyaryletherketone (PAEK) Market Size FAQs
What is the current Polyaryletherketone (PAEK) Market size?
The Polyaryletherketone (PAEK) Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Polyaryletherketone (PAEK) Market?
Arkema, Evonik Industries AG, Solvay, Victrex plc and Gharda Chemicals Ltd are the major companies operating in the Polyaryletherketone (PAEK) Market.