Stratistics MRC report, Polyaryletherketone Paek Market Forecasts to 2027 – Global Analysis Application, Key Players, Types, End User and By Geography
MARYLAND, GAITHERSBURG, UNITED STATES, October 18, 2021 /EINPresswire.com/ — The Global Polyaryletherketone (PAEK) market is accounted for $801.31 million in 2018 and is expected to reach $1498.16 million by 2027 growing at a CAGR of 7.2% during the forecast period. Some of the key factors increasing demand of PAEK in automotive and aerospace industries and rising demand in the medical industry are driving the market growth. However, high product cost and availability of substitutes are the restraining factor for the growth of the market.
Some of the key players in Polyaryletherketone (PAEK) Market include Victrex PLC, Solvay S.A, Evonik Industries AG, Arkema Sa, Celanese Corporation, Gharda Chemicals Limited, SABIC, Ensinger, Akro-Plastic GmbH, RTP Company, Mitsubishi Chemical Advanced Materials, Toray Advanced Composites, Darter Plastics Inc, Quadrant Epp Surlon India Ltd and Nanoshel LLC.
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By end user, oil and gas segment has a growing prominence due to raising demand for PAEK materials in anti-wear tape, subsea connector, pipe & liner, compressor, and valve. In the demanding oilfield environment extends the existence of the equipment and properties of PAEK increases the stability of the oilfield equipment. On the basis of geography, Europe is going to have a lucrative growth during the forecast period owing to the augmented usage of PAEK in the automotive production to manufacture a range of exterior, interior, and under-the-hood machinery for automobiles. Moreover it is likely to lead to a raise for PEEK in this region due to high command for advanced medical devices.
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