Polyether Ether Ketone (PEEK) Market - Global Industry Insights on Size, Share, Mergers & Acquisitions, Drivers, Restraints, Growth Strategies and Future Outlook: Orbis Research

Orbisresearch.com has published “Polyether Ether Ketone (PEEK) Market-Growth, Trends, and Forecast (2019-2024)” research study to its database. Healthcare Industry to Dominate the Market

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Dallas, Texas, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The global PEEK market in the healthcare industry is expected to grow at a good rate, because of its increasing medical applications, due to its columnar stiffness, biocompatibility, and torsion strength in very thin walls

The global polyether ether ketone (PEEK) market is expected to record a CAGR of over 6.8% during the forecast period of 2019–2024. The major factors driving the market studied are increasing usage of lightweight materials and increasing usage in electrical & electronics.
-Availability of cheaper alternatives is expected to hinder the growth of the market studied.
-The rising number of applications in the healthcare industry is likely to act as an opportunity for the market studied over the forecast period.
-Europe is the largest market for the polyether ether ketone (PEEK) market and North America is the fastest growing market.

Competitive Landscape: The global polyether ether ketone (PEEK) market is consolidated in nature. The major companies include Victrex plc, Solvay, Jilin Province Zhongyan Polymer Materials Co., Ltd., and Evonik Industries AG

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The healthcare sector is the fastest-growing sector in the global PEEK market. as it is quite established in developed countries, like the United States, etc. and also, with growing penetration in emerging economies, like India and ASEAN countries, due to the ongoing urbanization. Medical grade PEEK is used in orthopedics, sterilization cases & trays, medical & dental devices, hemodialysis membranes, etc. Orthopedics occupy the largest share, in terms of consumption. Many medical device manufacturers now use implantable PEEK, as a way to improve the biocompatibility of load-bearing implants. It makes implants much more bone-friendly and more compatible with diagnostic imaging than metal implants.
Currently, PEEK is increasingly becoming the new standard biomaterial, across a wide range of implant applications. There is a growing interest in the potential benefits of enhancing the Osseo-conductivity of PEEK with coatings, to provide direct bone on-growth by integrating calcium phosphate and hydroxyapatite within PEEK polymeric base. With the increasing applications of PEEK in the healthcare industry is further projected to drive the market during the forecast period.

North America to Dominate the Market

- North America dominated the global market with United States accountig for the largest consumption.
- The US PEEK market is expected to grow at a good rate, because of growing end-user industries, like automotive, aerospace, electrical & electronics, etc., which is expected to drive the PEEK market.
- Automotive is one of the major industries in the United States. In 2017, the total motor vehicle production of the United Staes was 11,189,985 units. In 2018, the number increased by 1.1% to 11,314,705 units being the second highest producer globally. The country showed strong demand for automotive with lightweight car production reaching 12 million units, and further, it is expected to increase during the forecast period. This is expected to add to the demand for PEEK in the country.
- Furthermore, the electrical & electronics market in the United States is driven by continuous R&D and investment for innovative products. Also, in the United States, consumer electronics has a huge market, and it is expected to register a good growth rate, because of increasing demand for tablets, smartphone, smart drones, and headsets, which is expected to drive the PEEK market.
- Furthermore, the matured aerospace industry boomed, due to growing profits and sales, in recent years. The US defense sector has increased defense spending for equipment, such as planes, etc., which is projected to drive the market for PEEK products, in the country, thus increasing the market in the North America region.

Browse the full research report with Table of Contents@ https://www.orbisresearch.com/reports/index/polyether-ether-ketone-peek-market-growth-trends-and-forecast-2019-2024

Major points from Table of Contents:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Segmentation
6 Competitive Landscape
7 Investment Analysis
8 Market Opportunities and Future Trends
Continued…

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