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Polyether ether ketone (PEEK) Market to Grow at a CAGR of 3.4% by 2035 | ChemAnalyst
The Global polyether ether ketone demand stood at around 12 thousand tonnes in 2021, with the market expected to witness significant growth, growing at a CAGR of 3.4% by 2035.
PEEK is a high-performance engineering thermoplastic and a polyaromatic semi-crystalline that belongs to polyaryletherketone family. PEEK polymer is derived from step-growth polymerization by the dialkylation of bisphenolate salts. It can be integrated by using nucleophilic substitution of 4,4'-difluorobenzophenone or 1,4-bis(4-fluorobenzoyl)
In comparison to other polymers, PEEK exhibits outstanding properties for instance it is resistant to chemicals and high temperature, chemically inert and insoluble in all solvents, lightweight, creep-resistant, biocompatible, bioresorbable, etc. Since, PEEK molecule is very stable in nature, therefore it can be reprocessed and re-melted again and again without losing its properties. This reduces the environmental impact and ensures that waste material from manufacturing processes can be re-used economically. PEEK polymers are well suited for harsh and demanding environments. This light thermoplastic polymer can support numerous requirements at once to address material limitations in applications, frequently replacing metals, as well as to meet cost-efficiency and sustainability needs.
Based on end-use, PEEK is widely used in medical, aerospace, automotive, electricals and electronics, etc. Recently, Evonik has launched a plastic gear molded of Vestakeep PEEK which is being used in automobile transmissions. This PEEK molding compound is developed with the tribological properties, enabling noise reduction, vibration damping and durability in the harsh environment of internal combustion engines. Polyether ether ketone is the material of choice for implants in medical sector. Almost everywhere in the body, it provides optimum flexibility of movement for patients over an extended period.
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Some of the major players operating in Polyether ether Ketone (PEEK) market include Solvay S.A., Oxford Polymers, Victrex plc., Jilin Joinature Polymer Co., Ltd., Panjin Zhongrun High Performance Polymers Co. Ltd., Jida Evonik High Performance Polymers, Daicel-Evonik Ltd. and others.