The PAEK market is projected to grow from USD 985 million in 2022 to USD 1,362 million by 2027, at a CAGR of 6.7%

NEW YORK, Dec. 20, 2022 /PRNewswire/ --

The PAEK market is projected to grow from USD 985 million in 2022 to USD 1,362 million by 2027, at a CAGR of 6.7% during the forecast period. The global market for PAEK is driven by emerging markets such as India, China, Brazil, Southeast Asia, and South Korea



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By type, the PEEK segment is estimated to be the fastest-growing segment of PAEK market during 2022 to 2027
Based on type, the PEEK segment is estimated to be the fastest growing segment during the forecast period.The growth in various end-use industry to lead the growth of this segment.

Many leading end-use industries are using PEEK in their product manufacturing. PEEK is fire retardant and emit less smoke & toxic gases which makes in suitable to use in major growing industry such as aerospace.

The automotive segment in application is projected to register the highest CAGR during the forecast period.
Based on application, the automotive segment is projected to register the highest CAGR during the forecast period.PAEK is widely used in automotive applications such as in braking systems, fuel systems, induction systems, coolant systems, engine components, powertrain, brake systems, sockets, among others.

The growth of automotive industry is expected to drive the demand of PAEK in this segment.

By filler, the glass-filles segment is estimated to be the fastest-growing segment of PAEK market during 2022 to 2027
Based on filler, the glass-filled segment is estimated to be the fastest-growing segment during the forecast period. Glass-filled PAEK provides enhanced creep strength and dimensional stability that makes it ideal choice for oil & gas and aerospace industries.

By form, the compound segment is estimated to be the fastest-growing segment of PAEK market during 2022 to 2027
Based on form, the compound segment is estimated to be the fastest-growing segment during the forecast period.PAEK compounds are used in variety of products that have been tailored to the needs of various processors and customers.

Compounds helps to support material’s wear resistance, stiffness, or tribological properties, hence it is commonly available form of PEAK.

The PAEK market in Asia Pacific region is projected to witness the highest CAGR during the forecast period.
Asia Pacific region is projected to register the highest CAGR in the PAEK market from 2022 to 2027.Asia Pacific is one of the key markets for PAEK.

The region has high demand for the PAEK due to growing automotive industry, rising population, urbanization, and industrialization in China, Japan, and India.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 â€" 55%, Tier 2 â€" 30%, and Tier 3 â€" 15%
• By Designation: C-level Executives â€" 21%, Directors â€" 23%, and Others â€" 56%
• By Region: Asia Pacific â€" 15%, North America â€" 45%, Europe â€" 27%, South America-7%, and Middle East & Africa- 6%
The PAEK report is dominated by players, such as Victrex PLC (UK), Solvay (Belgium), Evonik Industries AG (Germany), Arkema SA (France), and SABIC (Saudi Arabia), Gharda Chemicals Limited (India), Ensinger Group (Germany), AKRO-PLASTIC (Germany), RTP Company (US), Mitsubishi Chemical Advanced Materials (Japan), Panjin Zhongrun High Performance Polymer Co. Ltd. (China), Lehmann&Voss&Co. (Germany), J.K. Overseas (India), Caledonian Industries Ltd. (Scotland), and Nanoshel LLC (US)

Research Coverage:
The report defines, segments, and projects the size of the PAEK market based on type, application, filler, form, and region.It strategically profiles the key players and comprehensively analyses their market share and core competencies.

It also tracks and analyses competitive developments, such as new product development, partnership, expansion, and acquisitions undertaken by them in the market.

Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the PAEK market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies.

It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

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