The global Polyether Ether Ketone Market Growth Accelerated by Increased Adoption in Automotive Industry

-

Polyether Ether Ketone (PEEK) is an engineering thermoplastic polymer possessing exceptional mechanical and chemical resistance properties. PEEK is used in various demanding applications such as precision parts in aircraft and aerospace components, medical implants, and automobile components. PEEK provides advantages such as high strength, stiffness, durability, heat resistance, and friction properties along with biocompatibility. Rising automobile production and stringent regulatory standards governing fuel efficiency and emissions have increased the demand for lightweight materials like PEEK.


The global Polyether Ether Ketone Market is estimated to be valued at US$ 840.2 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of PEEK in the automotive industry has been steadily growing over the past few years particularly in powertrain, engine, and exhaust components due to its lightweight and heat resistance properties. PEEK aids in reducing vehicle weight without compromising durability and reliability. Lower weight allows improved fuel efficiency and reduced emissions bringing automakers in compliance with tough emissions regulations. The increasing use of PEEK in high-performance cars, electric vehicles, and hybrid vehicles is driving the demand for PEEK in the automotive industry.

Segment Analysis
The global polyether ether ketone market size is dominated by the medical sub-segment. Polyether ether ketone find wide applications in medical implants and medical devices due to their biocompatibility and corrosion resistance properties. They are commonly used to manufacture joints, spinal fusion cages, and dental implants. The non-visibility under diagnostic imaging systems further makes polyether ether ketone a preferred choice for medical applications.

Key Takeaways

The global polyether ether ketone market is expected to witness high growth over the forecast period of 2024 to 2031. The global Polyether Ether Ketone Market is estimated to be valued at US$ 840.2 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

North America holds the major share of the global polyether ether ketone market due to high demand from the healthcare industry. The presence of leading medical device manufacturers and growing healthcare infrastructure are fueling the consumption of polyether ether ketone in the region.

Key players related content comprises
Key players operating in the polyether ether ketone market are Solvay, Evonik, Victrex, Stern Industries Inc., PandA Polymer, and Polymics. Solvay and Evonik are the prominent producers of polyether ether ketone globally.

Comments

Post a Comment

Popular posts from this blog

The global Calcium Citrate Malate Market Growth Accelerated by Expanding Applications

-
Image
Calcium citrate malate is an essential mineral compound that provides calcium and supports bone health. Calcium citrate malate supplements help maintain healthy bones and teeth as we age. They support calcium absorption and distribution throughout the body. The global Calcium Citrate Malate Market is estimated to be valued at US$ 334.08 Mn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding applications of calcium citrate malate are expected to drive the market growth over the forecast period. Calcium citrate malate supplements are increasingly being used to prevent and treat osteoporosis. They are especially recommended for people who cannot digest lactose or avoid dairy products. The compound is also finding wider use in functional foods and beverages with added calcium and minerals. Manufacturers are developing various product formats like...
Read more

Labor Productivity Tracking Market Growth Accelerated by Remote Work and Digitalization Trend

-
Image
Labor productivity tracking solutions help businesses and organizations track employee productivity in real-time. These solutions offer features like time tracking, activity monitoring, goal setting, resource allocation, attendance logging, and analytics. They help enhance productivity by identifying opportunities for improvement, streamlining workflows, and ensuring employees are focused on tasks that add value. The global Labor Productivity Tracking Market is estimated to be valued at US$ 6.81 Billion in 2024 and is expected to exhibit a CAGR of 38% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rapid adoption of remote work and digitalization trend across industries during the pandemic has been a major driver accelerating growth of the labor productivity tracking market. Many organizations have now accepted work from home and hybrid work models. Labor productivity tracking solutions help employers...
Read more

Tamponades is fastest growing segment fueling the growth of the Global Vitreous Tamponades Market

-
Image
The global Vitreous Tamponades Market is estimated to be valued at US$ 83.89 Mn in 2023 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview : Vitreous tamponades are substances used to seal retinal breaks and provide internal tamponade during vitrectomy surgeries. They help stabilize the retina and promote posterior vitreous detachment. The different types of tamponades include gases, silicone oils and perfluoro-n-octane. Market key trends : One of the key trends in the market is the preference for non-silicone tamponades over traditional silicone oils. Silicone oils have been commonly used but are difficult to remove and can cause complications. Newer tamponades such as perfluorocarbon liquids and gases provide effective internal tamponade with better removal properties. They minimize complications and improve surgical outcomes leading to their increased demand. Segment ...
Read more