South America Polyether Ether Ketone (PEEK) Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 11.17 Million |
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Market Size (2029) | USD 16.55 Million |
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Largest Share by End User Industry | Automotive |
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CAGR (2024 - 2029) | 8.19 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Polyether Ether Ketone (PEEK) Market Analysis
The South America Polyether Ether Ketone (PEEK) Market size is estimated at 11.17 million USD in 2024, and is expected to reach 16.55 million USD by 2029, growing at a CAGR of 8.19% during the forecast period (2024-2029).
11.17 Million
Market Size in 2024 (USD)
16.55 Million
Market Size in 2029 (USD)
4.74 %
CAGR (2017-2023)
8.19 %
CAGR (2024-2029)
Largest Market by End-user Industry
44.52 %
value share, Automotive, 2023
Owing to the high demand for lightweight and high-impact resistance PEEK-based materials replacing traditional metal parts, the automotive industry occupied the largest market share.
Fastest Growing Market by End-user Industry
9.36 %
Projected CAGR, Electrical and Electronics, 2024-2029
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
66.43 %
value share, Brazil, 2023
Due to the considerable demand for PEEK-based materials in a few industries such as automotive, electronics, and machinery in recent years, Brazil occupied the highest market share.
Fastest Growing Market by Country
10.24 %
Projected CAGR, Argentina, 2024-2029
Owing to the demand for high-performance PEEK-based products for automotive, Argentina is likely to be the fastest-growing consumer.
Leading Market Player
35.84 %
market share, Victrex, 2022
With the continuous development of PEEK-based products and increasing sales in the market, Victrex occupied the largest share in the region.
Increasing demand for high performance materials like PEEK
- PEEK polymers find applications in various end-user industries due to their versatile, tough nature. In 2022, some of the common PEEK applications were found in the automotive, electrical and electronics, and aerospace industries, where these are used because of their performance benefits like enhanced dry and lubricated surface interaction, mechanical performance over a wide temperature range, ease of processing, and excellent fatigue properties, among others.
- During the 2017-19 period, the demand for PEEK witnessed steady growth, with a CAGR of 4.5%, which was majorly driven by the increase in electrical and electronics products in the region. In 2020, due to various operational, travel, and trade restrictions because of the COVID-19 pandemic, the demand for PEEK witnessed a y-o-y decline of 20%. Among all end-user industries, the demand from the automotive and industrial machinery industries took the worst hit in 2020, declining by 33.97% and 27.31% compared to 2019. As the restrictions eased, the demand for PEEK increased to pre-pandemic levels.
- PEEK materials outperform their alternatives, like metals, in many components used in the industrial, chemical, and processing industries. Following the US Food and Drug Administration's approval, PEEK applications in food processing and healthcare segments are expected to increase during the forecast period. Factors like these are expected to drive the growth in the demand for PEEK during the forecast period. The overall regional demand for PEEK is expected to register a CAGR of 5.90% and 8.25% in volume terms and value terms, respectively, during the forecast period.
_Consumed_by_end_user_industry__USD__South_America__2017_-_2029.svg "South America Polyether Ether Ketone (PEEK) Market Trends")
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Growing aerospace, automotive, and electrical and electronics industries in Brazil may boost the market’s growth
- In 2022, South America accounted for 1.54% of the global consumption of polyether ether ketone (PEEK) resin in terms of value. PEEK resin exhibits versatile properties, thus finding applications in the automotive, aerospace, and electrical and electronics industries.
- Brazil is the region's largest consumer of PEEK resin, attributed to its growing aerospace, automotive, and electrical and electronics industries. The market revenue from aircraft components reached USD 2.26 billion in 2022 from USD 2.15 billion in 2021. The growing aircraft component production is projected to drive the demand for PEEK resin in the country over the coming years.
- Argentina is the fastest-growing consumer of PEEK resin, with a projected CAGR of 10.30% by value during the forecast period. The country's demand for PEEK resin is rising significantly due to the increasing vehicle production and the growing electrical and electronics industry. For instance, the country's vehicle production is projected to reach 1.14 million units in 2027 from 872 thousand units in 2023. The surging demand for technologically advanced consumer electronics and appliances such as smartphones, laptops, computers, cameras, and televisions is expected to boost the consumer electronics industry during the forecast period. For instance, the country's consumer electronics revenue is projected to reach USD 3.4 billion in 2027 from USD 2.0 billion in 2023. Therefore, the increasing vehicle and electrical and electronics production in the country is projected to drive the demand for PEEK resin in the future.
South America Polyether Ether Ketone (PEEK) Market Trends
Rapid pace of technological innovations to boost the industry growth
- In South America, Brazil held the major share of nearly 40% of the region's electrical and electronics production revenue in 2017. In 2017, Brazilian electronics products had a penetration of nearly 20% in the e-commerce sector. The advancement of technology in the region increased the demand for consumer electronics products, such as smart TVs, smart refrigerators, smart air conditioners, and other electrical and electronic products. South American electrical and electronics production revenue witnessed a CAGR of over 6.16% between 2017 and 2019.
- In 2020, with the rise in demand for consumer electronics for remote working and home entertainment due to the pandemic, the production of electrical and electronic products in the region increased at a growth rate of 1.1% by revenue compared to the previous year. Rising disposable income, increased demand for luxury products, technological advancements, and improvement in living standards are some of the major factors driving the electrical and electronics market's growth. As a result, in the region, electrical and electronics production also increased at a rate of 14.9% by revenue in 2021.
- The rapid pace of electronic technological innovation is driving consistent demand for newer and faster electrical and electronic products. As a result, it has also increased the demand for the production of electrical and electronics in the region. The penetration of multinational companies, like LG, Samsung, Microsoft, Panasonic, Dell, Intel, Toshiba, Sony, Philips, Sharp, Apple, and Lenovo, also positively affects the electrical and electronics market. All such factors are expected to fuel the production revenue of electrical and electronics in the region during the forecast period at a rate of around 7%.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing agreements and partnerships to boost the growth
- Government reforms and increasing infrastructure investments to aid the industry growth
- Fast paced growth of electric vehicle sales to augment the industry
- Food packaging to drive the plastic packaging demand
South America Polyether Ether Ketone (PEEK) Industry Overview
The South America Polyether Ether Ketone (PEEK) Market is fairly consolidated, with the top three companies occupying 80.57%. The major players in this market are Evonik Industries AG, Solvay, Victrex (sorted alphabetically).
South America Polyether Ether Ketone (PEEK) Market Leaders
Evonik Industries AG
Solvay
Victrex
Market/1708340171908_SouthAmericaPolyetherEtherKetone(PEEK)Market_market_concentration.svg "South America Polyether Ether Ketone (PEEK) Market Concentration")
*Disclaimer: Major Players sorted in alphabetical order.
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South America Polyether Ether Ketone (PEEK) Market News
- March 2023: Victrex PLC introduced a new type of implantable PEEK-OPTIMA polymer that is specifically designed for use in the manufacturing processes of medical device additives, such as fused deposition modeling (FDM) and fused filament fabrication (FFF).
- July 2022: Solvay introduced a new grade of KetaSpire PEEK, KT-850 SCF 30, designed for the precision brake system and e-mobility pump components.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.
South America Polyether Ether Ketone (PEEK) Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Electrical and Electronics
- 4.1.5 Packaging
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4.2 Regulatory Framework
- 4.2.1 Argentina
- 4.2.2 Brazil
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Electrical and Electronics
- 5.1.4 Industrial and Machinery
- 5.1.5 Other End-user Industries
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5.2 Country
- 5.2.1 Argentina
- 5.2.2 Brazil
- 5.2.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Evonik Industries AG
- 6.4.2 Solvay
- 6.4.3 Victrex
7. KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PRODUCTION REVENUE OF AEROSPACE COMPONENTS, USD, SOUTH AMERICA, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SOUTH AMERICA, 2017 - 2029
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SOUTH AMERICA, 2017 - 2029
- Figure 4:
- PRODUCTION REVENUE OF ELECTRICAL AND ELECTRONICS, USD, SOUTH AMERICA, 2017 - 2029
- Figure 5:
- PRODUCTION VOLUME OF PLASTIC PACKAGING, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 6:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 7:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED, USD, SOUTH AMERICA, 2017 - 2029
- Figure 8:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 9:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 10:
- VOLUME SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 11:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 12:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AEROSPACE INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 13:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AEROSPACE INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 14:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AEROSPACE INDUSTRY BY COUNTRY, %, SOUTH AMERICA, 2022 VS 2029
- Figure 15:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AUTOMOTIVE INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 16:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 17:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN AUTOMOTIVE INDUSTRY BY COUNTRY, %, SOUTH AMERICA, 2022 VS 2029
- Figure 18:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 19:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 20:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY BY COUNTRY, %, SOUTH AMERICA, 2022 VS 2029
- Figure 21:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 22:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 23:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY BY COUNTRY, %, SOUTH AMERICA, 2022 VS 2029
- Figure 24:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 25:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 26:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY COUNTRY, %, SOUTH AMERICA, 2022 VS 2029
- Figure 27:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY COUNTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 28:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY COUNTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 29:
- VOLUME SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY COUNTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 30:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY COUNTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 31:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED, TONS, ARGENTINA, 2017 - 2029
- Figure 32:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED, USD, ARGENTINA, 2017 - 2029
- Figure 33:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, ARGENTINA, 2022 VS 2029
- Figure 34:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED, TONS, BRAZIL, 2017 - 2029
- Figure 35:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED, USD, BRAZIL, 2017 - 2029
- Figure 36:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, BRAZIL, 2022 VS 2029
- Figure 37:
- VOLUME OF POLYETHER ETHER KETONE (PEEK) CONSUMED, TONS, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 38:
- VALUE OF POLYETHER ETHER KETONE (PEEK) CONSUMED, USD, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 39:
- VALUE SHARE OF POLYETHER ETHER KETONE (PEEK) CONSUMED BY END USER INDUSTRY, %, REST OF SOUTH AMERICA, 2022 VS 2029
- Figure 40:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SOUTH AMERICA, 2019 - 2021
- Figure 41:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH AMERICA, 2019 - 2021
- Figure 42:
- REVENUE SHARE OF POLYETHER ETHER KETONE (PEEK) BY MAJOR PLAYERS, %, SOUTH AMERICA, 2022
South America Polyether Ether Ketone (PEEK) Industry Segmentation
Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Argentina, Brazil are covered as segments by Country.
- PEEK polymers find applications in various end-user industries due to their versatile, tough nature. In 2022, some of the common PEEK applications were found in the automotive, electrical and electronics, and aerospace industries, where these are used because of their performance benefits like enhanced dry and lubricated surface interaction, mechanical performance over a wide temperature range, ease of processing, and excellent fatigue properties, among others.
- During the 2017-19 period, the demand for PEEK witnessed steady growth, with a CAGR of 4.5%, which was majorly driven by the increase in electrical and electronics products in the region. In 2020, due to various operational, travel, and trade restrictions because of the COVID-19 pandemic, the demand for PEEK witnessed a y-o-y decline of 20%. Among all end-user industries, the demand from the automotive and industrial machinery industries took the worst hit in 2020, declining by 33.97% and 27.31% compared to 2019. As the restrictions eased, the demand for PEEK increased to pre-pandemic levels.
- PEEK materials outperform their alternatives, like metals, in many components used in the industrial, chemical, and processing industries. Following the US Food and Drug Administration's approval, PEEK applications in food processing and healthcare segments are expected to increase during the forecast period. Factors like these are expected to drive the growth in the demand for PEEK during the forecast period. The overall regional demand for PEEK is expected to register a CAGR of 5.90% and 8.25% in volume terms and value terms, respectively, during the forecast period.
| End User Industry | Aerospace |
| Automotive | |
| Electrical and Electronics | |
| Industrial and Machinery | |
| Other End-user Industries | |
| Country | Argentina |
| Brazil | |
| Rest of South America |
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Market Definition
- End-user Industry - Automotive, Aerospace, Industrial Machinery, Electrical & Electronics, and Others are the end-user industries considered under the polyether ether ketone market.
- Resin - Under the scope of the study, virgin polyether ether ketone resin in primary forms such as powder, pellet, etc. are considered.
| Keyword | Definition |
|---|---|
| Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
| Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
| Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
| Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
| Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
| Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
| Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
| Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
| Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
| Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
| Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
| Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
| PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
| Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
| Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
| Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
| Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
| Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
| Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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