PAEK Market Analysis | 2023-2028

Market Insights

The PAEK market was estimated at USD 1.0 billion in 2022 and is likely to grow at a CAGR of 6.1% during 2023-2028 to reach USD 1.4 billion in 2028.

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Market Dynamics

Introduction

PAEK stands for polyaryletherketone. It is a family of high-performance polyketones fabricated to fill cost and performance gaps between PEEK and other high-performance polymers.

Market Drivers

The growth drivers bolstering the demand for PAEK are mainly the increasing usage of PAEK in oil and gas, electrical and electronics, aerospace, medical, and automotive applications, which in turn, is propelling the growth of the market.

Segments Analysis

By Type

The market is segmented as PEK, PEEK, and PEKK. The PEEK segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The wide use of PEEK in oil and gas, electrical and electronics, medical, automotive, and aerospace applications is propelling the growth of the segment during the forecast period.

By Application Type

The PAEK market is segmented as oil & gas, electrical & electronics, automotive, medical, aerospace, and others. The oil & gas industry segment dominates the market, as PAEK has exceptional properties such as superior creep resistance, wear, and chemical resistance under high pressure and high-temperature conditions. Owing to this property, it increases the consistency of the oilfield equipment and thus, extends the life of the equipment in the challenging oilfield environment.

Regional Insights

Europe is estimated to be the largest market during the forecast period. The growth of the market is driven by the increasing usage of PAEK in the automotive industry to manufacture various interior, exterior, and under-the-hood components for automobiles. North America is also expected to offer substantial growth opportunities during the forecast period. The high demand for advanced medical devices is also expected to lead to an increase in the market for PEEK in this region.

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Key Players

Some of the major PAEK manufacturers are:

• Victrex PLC
• Solvay
• Evonik Industries AG
• Arkema SA
• Celanese Corporation
• Gharda Chemicals Limited
• SABIC
• Mitsubishi Chemical Advanced Materials
• Akro-Plastic GmbH
• RTP Company
• Panjin Zhongrun High-Performance Polymers Co. Ltd

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The PAEK market is segmented into the following categories.

By Type

• PEEK (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PEK (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PEKK (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Filler Type

• Glass filled (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Carbon filled (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Unfilled (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Application Type

• Oil and Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electricals and Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s PAEK market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our PAEK market report from the industry stakeholders, we have tried to further accentuate our research scope to the PAEK market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the filler types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].