April 26, 2019 by Steve Blade
The macroeconomic factors, such as growing population coupled with up gradation in standard of living in developing economies and an increase in demand for plastic products in many countries is further augmenting the demand for polyetherketone. The significant rise in production of polyetherketone owing to its wide scale application in the manufacturing of industrial equipment is highly estimated to boost the global Polyetherketone Market. Moreover, substantial growth in the population in East and South Asia is anticipated to generate a momentous opportunity for the global polyetherketone market.
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Polyetherketone (PEK) is a semi-crystalline polyether that was first developed by K. Dahl of Raychem in the 1970s for captive use. Polyetherketone is a high performance engineering thermoplastic having unique combination of thermal stability, chemical resistance and excellent mechanical properties over a wide temperature range. Polyetherketone has a good resistance to combustion and good electrical performance. Polyetherketone is renowned for their excellent chemical resistance to a number of organic and inorganic chemicals and exceptionally good resistance to hydrolysis in hot water.
The major driving factor for the global polyetherketone market is a continuously evolving manufacturing sector, which has resulted in the growing demand for polyetherketone across all developing economies. Moreover, the superior performance characteristics of polyetherketone, such as high strength & toughness, outstanding chemical resistance, ease of processing and wear resistance is highly anticipated to propel the demand for polyetherketone. As polyetherketone is capable of producing highly resilient machine parts, polyetherketone is gaining huge recognition in manufacturing sector across all regions. All the above mentioned major influencing features are highly anticipated to drive the global polyetherketone market over the forecast period. The key restraining factor, such as high cost and high processing temperatures of polyetherketone, may hinder the global polyetherketone market growth over the forecast period.
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Nucleophilic substitution polyetherketone is anticipated to showcase remarkable growth rate during the forecast period due to its wide scale application. On the other hand, among application segment, automobile parts is anticipated to see higher market growth over the forecast period due to the increase in automotive production.
The global polyetherketone market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest of East Asia), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, South Asia is estimated to account for a significant market share due to a rise in the plastic consumption in countries, such as India and Indonesia. East Asia is anticipated to witness high growth in the global polyetherketone market owing to the budding industrial sector coupled with growing population in the region. Moreover, Middle East & Africa is projected to showcase most expectant growth in the global polyetherketone market due to the upliftment in the standard of living and rise in construction sector across the region. Europe is one of the key mature regions that will generate creditable opportunity in the global polyetherketone market over the forecast period due to the presence of renowned petrochemical companies. North America is also expected to witness a steady growth in the consumption of polyetherketone owing to rise in the production of machine parts. Latin America is expected to hold a marginal share in the global polyetherketone market due to volatility in the economic growth.
Prominent players for the global Polyetherketone market are Arkema Inc., Dexmet Corporation, Evonik Corporation, RTP Company, Solvay S.A., Gharda Chemicals Limited, Haufler Composites GmbH & Co. KG, Ensinger, Aikolon Oy, VELOX GmbH - an IMCD Company, Koninklijke Ten Cate BV, Victrex plc., National Chemical Company, Raycon Industries, Panjin Zhongrun High Performance Polymers Co. Ltd. and Jilin Zhongyan High Performance Engineering Plastic Co., Ltd. among other key market players. The polyetherketone market consists of well-diversified global and regional players with the regional vendors dominating their respective regional market.
The research report presents a comprehensive assessment of the Polyetherketone market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Polyetherketone market report provides analysis and information according to market segments such as geographies, application and industry.
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The Polyetherketone report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Polyetherketone report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Polyetherketone report also maps the qualitative impact of various market factors on market segments and geographies.
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