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Follow on Google News |  New market research report on Polyether Ether Ketone MarketThe report summary explains clearly the strategies to take major market share using insights gathered by our market research team.
The demand for polyether ether ketone is increasing due to stringent government environmental regulations in the automotive and aerospace manufacturing sectors. Furthermore, the market is driven by growing technological advancement and increasing new product launches. For instance, Essex Furukawa with Solvay has won recognition from Magna, an organization which acts as a platform for advancing challenges in the production of automotive electric and hybrid motor, for the development KetaSpire PEEK Polymer Coated High Voltage Winding Wire Technology. The jointly developed concept combines HVWW (high voltage winding wire) technology for electric traction motors and an insulation coating using Solvay's KetaSpire PEEK polymer. Similarly, in October 2018, Victrex is introduced a new "VICTREX FG™" family of high-performing PEEK thermoplastics for the food and beverage industry. In July 2018, Victrex PEEK polymer pioneer newly developed two materials for Additive Manufacturing. The first of these is a high strength material for laser sintering which attains lower refresh rates, resulting in improved recycling for unsintered powder. The second is a filament with better Z-strength than existing PolyArylEtherKetone (PAEK) materials and better printability for filament fusion. The demand for polyether ether ketone coupled with its superior chemical properties and growing demand for lightweight and fuel-efficient vehicles Growth in automotive, electrical & electronics, medical and industries are raising the demand for polyether ether ketone. It is owing to its excellent chemical resistance, inherently low flammability and smoke emission. Also, it is hard and stiff. Thus, its application has been increased in various industries which are the primary factor that is boosting the market growth. Growing demand for fuel-efficient, lightweight vehicles have enforced the manufacturers in the automotive sector to cut the weight of the vehicles, thus these factors boost the market over the forecast years. The use of polyether ether ketone in automotive industry facilitates weight reduction in vehicles, lower fuel consumption, and lower carbon dioxide emission. For instance, according to the International Organization of Motor Vehicle Manufacturers, global sales of passenger cars (https://www.statista.com/ Market Demand for Glass Filled Polyether Ether Ketone: The glass filled polyether ether ketone hold the most substantial market share among other products contributing a major share of about 45.43% in the year 2018 and is expected to increase XX% by 2026, for global polyether ether ketone market. Glass-filled polyether ether ketone is the most common type of polyether ether ketone widely used in the electrical & electronics, automotive and aerospace industries which are growing at a higher pace owing to its distinct thermal, electrical, physical and mechanical properties with excellent high-temperature resistance, good chemical resistance, biocompatibility, and others. Glass-filled PEEK is used for numerous industrial applications, and these applications include replacement of metal parts in high-temperature applications, piston parts, downhole application in oil and gas, cable insulation in harsh & underground environments and others. Polyether Ether Ketone and complications: The complications associated with polyether ether ketone by its usage in medical purposes might hamper the market potential. In some cases, patients suffer from severe infectious complications after being implanted with intra-osseous PEEK-derived biocompatible materials. According to the National Institutes of Health, patients who underwent cranioplasties with PEEK implants. Of these patients, 15.3% developed post-operative complications and 8.7% experienced implant failure requiring reoperation. Also, Polyether ether ketone emits little smoke or toxic gas when exposed to flame. More market insights here http://www.datamintelligence.com/ Recent Product launches and key developments: The diversified product portfolio is the major factor responsible for strengthening the position of the companies in the market. Also, they have been adopting few organic and inorganic strategies, such as new product developments, acquisitions, and expansions, to increase their share in the competitive polyether ether ketone market. In November 2018, Victrex has designed a new high-performance PEEK polymer to offer the cryogenics industry a sealing solution with a broader range of usage temperature compared to existing polymers such as PCTFE. In November 2018, Evonik has become the first company in the world to develop a polymer filament based on polyether ether ketone in implant-grade quality for use as a 3D printing material for implants. Development of the world's first PEEK filament helped Evonik to expand its existing line of polymer materials for 3D printing. For instance, in November 2017 (https://www.solvay.com/ In July 2016, 3D printing specialists German Company Indmatec has succeeded in 3D printing of PEEK parts for vacuum tech applications. In February 2015, Solvay expanded its capacity of specialty polymers once again and built a new plant in the USA to produce polyether ether ketone. This major expansion drive will make Solvay the only player in the industry to produce PEEK at two different sites in two separate, growing regions. Such recent key developments were also seen by the other prominent players such as Solvay SA, Evonik Industries AG, Victrex plc. , Panjin Zhongrun High-Performance Polymers Co. Ltd., A. Schulman Inc., Mitsubishi Chemical Corporation, PolyOne Corporation, Caledonian Ferguson Timpson Ltd, Darter Plastics Inc., Jrlon Inc., Prototype & Plastic Mold Co. Inc., and others. End
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