The global polytetrafluoroethylene market size is expected
to reach USD 1.42 billion by 2026, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 7.1% over the forecast period. Rising
demand for polytetrafluoroethylene (PAEK) can be attributed to its superior
properties including low permeability, outstanding chemical resistance, good
energy radiation resistance, and high electrical strength.
Consumption of polyether ketone ketone
(PEKK) has been on a rise owing to its various properties such as inherent
flame retardancy, compressive strength, and wear and creep resistance. This is
expected to increase its demand in dental tools, body implants, and drug
delivery components in medical applications.
The medical application segment accounted
for 9.4% of the overall revenue in 2018 and is expected to witness strong
growth on account of high usage of polyether ether ketone (PEEK) in the spinal
area, anterior cervical corpectomy and fusion, rotator cuffs, shoulder labrum
repair, maxillofacial defects, and dental work.
Increasing demand for implants, nonmetal
dental discs, and sterilizing hardware in the medical sector is expected to
augment demand for PAEK. PEEK polymer is anticipated to witness significant
revenue gains over the forecast period. This is attributed to rising consumption
in the automotive, medical, oil and gas, and aerospace industries in products
such as bearings, electrostatic, cookware, industrial coatings, and body
implants.
The automotive sector in Japan is one of
the most prominent and significant industries in the world. Presence of key
automobile companies, including Toyota Motor Corporation, Honda Motor Company,
Ltd., Daihatsu Motor Co., Ltd, Nissan Motor Company, and Suzuki Motor
Corporation is projected to have a positive impact on this market. Increased penetration
of aircraft manufacturers in China, along with rising government investments in
R&D, is expected to drive the aerospace sector in the country, which will
propel the PAEK market.
Key players operating in the PAEK market
include Victrex Plc., Evonik Industries AG, Gharda Chemicals Ltd., Caledonian
Industries Ltd., JK Overseas, Solvay S.A., and Arkema Group. Product innovation
is expected to remain a critical success factor for industry participants in
the future.
Access Research Report of Polyaryletherketone Market @ https://www.grandviewresearch.com/industry-analysis/polyaryletherketone-paek-market
Further key findings from the report suggest:
· Asia Pacific is expected to witness the
fastest growth in terms of demand over the forecast period
· By application, the industrial and general
engineering segment is expected to exhibit a CAGR of 7.4% in terms of revenue
over the forecast period
· U.S. is the largest market for
polyaryletherketone in North America and accounted for a revenue-based share of
86.4% in 2018.
Grand View Research has segmented the
global polyaryletherketone (PAEK) market on the basis of basis of type,
application, and region:
Polyaryletherketone (PAEK) Type Outlook
(Volume, Tons; Revenue, USD Million, 2014 - 2026)
·
PEEK
·
PEK
·
PEKK
·
Others
Polyaryletherketone (PAEK) Application
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2026)
·
Automotive
·
Industrial and General Engineering
·
Aerospace
·
Electrical & Electronics
·
Medical
·
Others
Polyaryletherketone (PAEK) Regional Outlook
(Volume, Tons; Revenue, USD Million, 2014 - 2026)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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