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Polyether Ether Ketone Market Size Forecast to Reach $1,223.1 Million by 2026

(, September 10, 2021 ) Polyether Ether Ketone Market is forecast to reach $1,223.1 million by 2026, after growing at a CAGR of 6.8% during 2021-2026. Polyether ether ketone (PEEK) is a colorless, high strength, and chemical resistance thermoplastic in the polyaryl ether ketone (PAEK) family and is prepared by polymerization of bisphinolate salts. PEEK is replacing stainless steel in impeller wheels for regenerative pumps and provides a significant reduction in wear, reduced noise levels. The comparatively lightweight, better high-temperature performance, and durability as compared to other conventional materials of PEEK is augmenting the demand from the aerospace and automotive industry.

Growing concern towards ill-effects of pollution and pollutants emanating from automobiles has prompted industry participants to resort to automotive light-weighting also bolster the demand for polyether ether ketone in automotive industries. Surging use of PEEK in cable insulation and semiconductor processing further aids the market growth. The growing uses of Diphenyl sulfone, Phenolates, 4,4’-Difluorobenzophenone as a high-temperature solvent is also driving the market growth.

COVID-19 Impact

COVID-19 has badly impacted the Polyether Ether Ketone market. Lack of manpower has led many manufacturing companies to stop their production which further results in their downfall. Electronic, aerospace, oil & gas, and automobile industries are facing huge losses, which in turn affects the demand for Polyether Ether Ketone. According to the Indian Cellular & Electronic Association of India, the shutdown would lead to a lack of $1,309.2 Mn to $1,963.8 Mn in 2020.

In addition, Toyota Motor Corporation reported a YoY sales decline of 26%, May’s unit sales were almost double that of April, which fell 56% YoY. Sales of new energy vehicles (NEVs) in China, including electric cars, also continue to decline. NEV sales in June fell 35% YoY to 85,600 units, following a drop of 26% in May and 30% in April. Thus decline in the growth of automotive and electronics negatively impacts the polyether ether ketone market.

Polyether Ether Ketone Market Segment Analysis – By Type

Glass-filled PEEK segment held the largest share of more than 35% in the Polyether Ether Ketone market in 2020. Glass-filled PEEK offers higher strength and stiffness over the unfilled grades. The addition of glass fibers significantly reduces the expansion rate and increases the flexural modulus of PEEK. These grades are very appropriate for structural applications carrying high static loads for long periods of time and are widely used in applications where temperature approaches above 300 o Celsius.

Due to high chemical resistance to a wide range of solvents, organics, salts, and bases, glass-filled PEEK is used in the oil and gas industries where steam and chemicals are encountered. Growing demand for products like Diphenyl sulfone and thermoplastic having greater strength and stiffness in aerospace, automotive and electronics industries are fueling the demand for glass-filled polyether ether ketone market.

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Polyether Ether Ketone Market Segment Analysis – By Application

Based on the application, the semiconductor segment held the largest share of more than 30% in the Polyether Ether Ketone market in 2020. Polyether ether ketone is used for semiconductor wafer processing applications as a replacement for fluoropolymer materials. In addition to superior mechanical performance over a wide temperature range, PEEK polymer offers lower levels of outgassing, ionic extractable, wear particles, and improved dimensional stability which further enhances the performance of semiconductors.

According to The Semiconductor Industry Association (SIA), global semiconductor sales increased by 13.7 percent to $468.8 billion in 2018. Growing demand for semiconductors from artificial intelligence (AI), quantum computing, and advanced wireless networks such as 5G will contribute significantly to the polyether ether ketone market’s overall growth.

Polyether Ether Ketone Market Segment Analysis – By End-Use Industry

Automotive segment held the largest share of more than 25% in the Polyether Ether Ketone market in 2020. Polyether ether ketone offers enhanced dry and lubricated surface interaction, outstanding mechanical performance, ease of processing, and excellent fatigue properties. The growing trend of miniatured engine compartments with light-weighted vehicles increases the demand for PEEK as an alternative to metals. PEEKs are used in bearings, under-the-hood-piston units, transmission, washers, braking, and air-conditioning systems.

Increasing demand for automobiles coupled with technology advancement and new R&D initiatives are transforming the automotive industry. According to the Association of Global Automakers, automakers spent more than $125 billion globally on research & development in 2018. Also, European Automobile Manufacturers Association (ACEA), estimated that 92.8 million motor vehicles were produced globally in 2019. Hence, the flourishing automotive industry may drive the growth of the polyether ether ketone market.

Polyether Ether Ketone Market Segment Analysis – By Geography

Europe held the largest share in the Polyether Ether Ketone market of more than 35% in 2020, owing to the increasing automotive, aerospace & defense sectors in the region. PEEK polymers and their composites are used as a replacement for aluminum and other metals in several aircraft parts. In the aerospace sector, PEEKs are used in critical engine parts, exterior and interior components as the polymer can withstand high temperature and its inherent flame retardancy and low smoke and toxic gas emission reduce hazard in the event of a fire.

According to International Trade Administration (ITA), the Norwegian Government presented a core defense spending budget of USD 6.9 billion in 2019. The Norwegian defense budget accounted for 1.62% of Norway’s GDP in 2018. Additionally, the French aerospace industry in 2019 grew to €74.3 billion, this is a 13% increase over 2018. Thus, the increasing aerospace and defense industry in Europe is likely to influence the growth of the polyether ether ketone market.

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Polyether Ether Ketone Market Drivers

Growing demand from health care industries

Polyether ether ketone has been emerging as an efficient product for implantable devices mainly for spinal surgery and is replacing titanium, which was primarily used for such purposes. PEEK is flexible, durable, and strong in nature and does not harm the human body or skin, therefore it is also useful to repair soft tissues. PEEK is an appropriate choice for dialysis pump filters. Rising health concerns and an increase in health care spending further aids the growth of Polyether Ether Ketone market. According to the Centre for Medicare and Medicaid Services, total health care spending of the United States grew by 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person. China's health expenditure was $777 billion and accounted for 5.7% of China’s GDP in 2018.

Increasing use of polyether ether ketone in batteries

Polyether ether ketone is considered a high-quality material to produce modern products due to its excellent resistance to acids and chemicals along with controlled porosity. Thermoplastic, Phenolates and 4,4’-Difluorobenzophenoneis are extensively used in PEEK formulation with high thermal stability and good rate capability for lithium-ion batteries. The need of the hour to minimize the carbon dioxide and sulfur dioxide emissions by the combustion of fuels (petrol and diesel) is increasing the demand for electric and hybrid vehicles.

According to International Energy Agency (IEA), the global stock of electric passenger cars increased by 63% reaching 5 million in 2018. Around 45% that is a total of 2.3 million electric vehicles were on the roads of China in 2018 whereas Europe and U.S accounts for 24% and 22% of the global fleet. Extensive usage of batteries in electrical gadgets coupled with an increase in demand for electric & hybrid vehicles is increasing the demand for batteries which in turn drives the growth of the polyether ether ketone market.

Polyether Ether Ketone Market - Challenges

Volatility in raw material prices and hydrophobic nature of PEEK

Although polyether ether ketones are widely used in medical implants they will never bonds to bone, unlike titanium due to their hydrophobic nature. Therefore, to achieve a solid fusion, one has to select a filler (inside the cage) that has a high likelihood of fusing. In addition, PEEK has low resistance to UV lights. Volatility in raw material prices also hampers the growth of the market. For instance, In January 2018, Hexion Inc. increased the price for the Bisphenol A (BPA) in North America by $0.20 per pound.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyether Ether Ketone market report. Major players in the Polyether Ether Ketone market are Victrex plc, Solvay S.A, Evonik Industries AG, Panjin Zhongrun High-Performance Polymers Co. Ltd, Parkway Products LLC, Stern Industries Inc., A. Schulman AG, Caledonian Ferguson Timpson Ltd, Darter Plastics Inc., J K Overseas, Prototype & Plastic Mold Co. Inc. among others.

Acquisitions/Technology Launches

In May 2020, Evonik launched implant-grade PEEK filament for medical applications in 3D printing. VESTAKEEP® i4 3DF is a highly viscous, high-performance implant-grade polymer.

In March 2019, Evonik launched a new radiopaque PEEK material, VESTAKEEP® i-Grade PEEK, for implant technology. This product type facilitates radiographic contrast and does not get warm during magnetic resonance tomography.

Key Takeaways

Chinese Government ambitious plans such as “Made in China 2025”, coupled with India’s Production Linked Incentive (PLI) and Scheme for Promotion of Electronic Components and Semiconductors (SPECS) will flourish electronic industries in the Asian region, which in turn may boost the growth of Polyether Ether Ketone market.

Rise in demand of Diphenyl sulfone, thermoplastic, Phenolates, 4,4’-Difluorobenzophenone based products from health care industries also contribute to market growth.

Decline in manufacturing activities and disruption of the supply chain due to the outbreak of coronavirus has hampered the growth of the polyether ether ketone market.

Related Reports :

A. Polyether Polyols Market

B. Heat Resistant Polymers Market

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to to discuss more about our consulting services.


Venkat Reddy

(+1) 970-236-3677

Source: EmailWire.Com

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