North American PEEK Material Market to Reach $335.8 Million by 2025
August 31, 2018
Per a recent report, the North American market for polyether ether ketone (PEEK) material is projected to reach $335.8 million by the year 2025. The North American market is the second largest in terms of revenue and consumption of PEEK material and has been witnessing a stable and promising compound annual growth rate of approximately 2 percent between 2014 to 2017.
With its incomparable mechanical properties and resistance to chemicals, fatigue, and creep, PEEK has significantly addressed difficulties pertaining to weight reduction, system downsizing, and performance. The incorporation of PEEK also helps in design optimization and system cost reduction due to its dimensional stability and shape memory at high operating temperatures. Further, PEEK is the only known material that can be incorporated in ultra-high vacuum applications.
Regardless of its exorbitant cost, PEEK has gained acceptance across the automobile, aerospace, consumer electronics, oil and gas, manufacturing, and healthcare industries. Specific to healthcare, features such as durability, biocompatibility, and excellent resistance to extreme sterilization techniques make PEEK the best suitable material for certain pivotal applications (such as surgical equipment, spinal implants, orthopedic implants, and dental equipment). Other applications in which PEEK material has been incorporated include engine piston parts, high-performance liquid chromatography columns, bearings, electrical cable insulation, pumps, and compressor plate valves.
Some of the key players contributing to the North America PEEK material market are Akro-Plastic GmbH, Apollo Medical Extrusion Technologies, Boedeker Plastics, Inc., Cadence Inc., Celanese Corp., Centroplast Engineering Plastics GmbH, CoorsTek Medical LLC, Drake Plastics Ltd., Emco Industrial Plastics, Inc., Ensinger Holding Gmbh & Co. Kg, Evonik Industries AG, Goodfellow Cambridge Ltd., Greene, Tweed & Co. Inc., Omnia Plastica SpA, Parker-Hannifin Corp., Quantum Polymers Corp., R & B Plastics, Inc., RTP Co., SABIC, Sentinel Plastics Ltd., Solvay S.A., Victrex plc, and Zell-Metall GmbH Engineering Plastics, among others.