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Africa Polyether Ether Ketone (PEEK) Market Size

The Africa Polyether Ether Ketone (PEEK) market is experiencing significant growth, driven by its versatile properties and applications across various industries. The market's expansion is fueled by increasing demand in sectors such as consumer goods, medical equipment, automotive, and electrical and electronics. South Africa leads in consumption due to its robust aerospace, automotive, and electronics industries, while the Rest of Africa shows rapid growth potential, particularly in vehicle production and technological advancements in consumer electronics. This growth trajectory highlights the region's rising market size and share in the global PEEK industry.

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Market Size of africa polyether ether ketone (peek) Industry

Africa Polyether Ether Ketone (PEEK) Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 3.97 Million
svg icon Market Size (2029) USD 6.36 Million
svg icon Largest Share by End User Industry Automotive
svg icon CAGR (2024 - 2029) 9.90 %
svg icon Largest Share by Country South Africa
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Africa Polyether Ether Ketone (PEEK) Market Analysis

The Africa Polyether Ether Ketone (PEEK) Market size is estimated at 3.97 million USD in 2024, and is expected to reach 6.36 million USD by 2029, growing at a CAGR of 9.90% during the forecast period (2024-2029).

3.97 Million

Market Size in 2024 (USD)

6.36 Million

Market Size in 2029 (USD)

9.98 %

CAGR (2017-2023)

9.90 %

CAGR (2024-2029)

Largest Market by End-user Industry

33.95 %

value share, Automotive, 2023

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Owing to the high demand for lightweight and high-impact resistance PEEK-based materials replacing traditional metal parts, the automotive industry occupied the largest market share.

Fastest Growing Market by End-user Industry

13.97 %

Projected CAGR, Electrical and Electronics, 2024-2029

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The growth of this segment is attributed to the rising demand for use in high-end applications, such as smart devices and electronic insulators used in harsh environmental conditions.

Largest Market by Country

47.78 %

value share, South Africa, 2023

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Due to the increasing demand for PEEK-based materials in a few industries, including automotive and medical in recent years, South Africa occupied the highest market share.

Fastest Growing Market by Country

8.31 %

Projected CAGR, Nigeria, 2024-2029

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Owing to the shifting demand toward high-performance medical devices, Nigeria is likely to register faster growth across the region over the forecast period.

Leading Market Player

82.84 %

market share, Victrex, 2022

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With the continuous development of PEEK-based products and increasing sales in the market, Victrex occupied the largest share in the region.

Government initiatives driving the electrical and electronics industry's market demand

  • PEEK material is prevalent in many industries due to its lightweight nature and high quality in terms of strength, low fatigue, and low flammability. Because of its low flammability, it can withstand combustion up to nearly 600 °C. In 2022, Africa’s PEEK resin consumption increased by 18.50% in terms of value compared to 2021.
  • PEEK resin is commonly used in the other-end user industries segments in Africa. The region produces consumer goods, such as kitchen and household utensils and furniture, using PEEK resin. The rising demand for consumer goods and medical equipment, among others, is expected to drive the demand for PEEK resins in the future. Consumption of medical facilities and equipment has increased with governments of different African countries investing in healthcare infrastructure. The African healthcare market is estimated to be worth USD 259 billion by 2030. Such factors are projected to drive the demand for PEEK resin across the region in the future.
  • Automotive is the second-largest end-user industry for PEEK resin in the region. The rising vehicle production in the region is expected to drive the demand for PEEK resin in the coming years. Vehicle production is projected to reach 1.74 million units by 2029 from 1.23 million units in 2023.
  • The electrical and electronics segment is the fastest-growing end-user industry for PEEK resin in the region, which is projected to register a CAGR of 10.66% in terms of value during the forecast period (2023-2029). Consumer electronics demand is expected to rise during the forecast period as a result of technological advancements. The value of the consumer electronics industry in Africa is projected to reach USD 19.90 billion by 2027 from USD 11.78 billion in 2023. This growth in the electrical and electronics industry in the region is projected to drive the demand for PEEK resin in the future.
Africa Polyether Ether Ketone (PEEK) Market

South Africa to dominate the market during the forecast period

  • Africa accounted for nearly 0.5% of the global PEEK consumption in 2022. PEEK resins exhibit versatile properties, which find applications in various industries, such as automotive, packaging, electrical and electronics, and other industries.
  • South Africa is the largest consumer of PEEK resin in the region due to its rising aerospace, automotive, and electrical and electronics industries. The aircraft components production in the country reached a value of USD 574.9 million in 2022 from USD 559.8 million in 2021. The rising aircraft components production is projected to drive the demand for PEEK resin in the country in the coming years.
  • The Rest of Africa is the fastest-growing region for PEEK resins, which is anticipated to witness a CAGR of 11.75% in terms of value during the forecast period (2023-2029). The Rest of Africa's demand for PEEK resin is increasing significantly due to rising vehicle production and growing electrical and electronics industries. The rapid pace of electronic technological innovation drives consistent demand for newer and faster electrical and electronic products. The surge in demand for technologically advanced consumer electronics and appliances (such as smartphones, laptops, computers, cameras, and televisions) is expected to boost consumer electronics demand during the forecast period.
  • The consumer electronics segment in Nigeria is projected to reach a value of around USD 2.62 billion by 2027 from USD 2.08 billion in 2023. The growth in the electrical and electronics market in the country is projected to drive the demand for PEEK resin in the future.

Africa Polyether Ether Ketone (PEEK) Industry Segmentation

Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Nigeria, South Africa are covered as segments by Country.

  • PEEK material is prevalent in many industries due to its lightweight nature and high quality in terms of strength, low fatigue, and low flammability. Because of its low flammability, it can withstand combustion up to nearly 600 °C. In 2022, Africa’s PEEK resin consumption increased by 18.50% in terms of value compared to 2021.
  • PEEK resin is commonly used in the other-end user industries segments in Africa. The region produces consumer goods, such as kitchen and household utensils and furniture, using PEEK resin. The rising demand for consumer goods and medical equipment, among others, is expected to drive the demand for PEEK resins in the future. Consumption of medical facilities and equipment has increased with governments of different African countries investing in healthcare infrastructure. The African healthcare market is estimated to be worth USD 259 billion by 2030. Such factors are projected to drive the demand for PEEK resin across the region in the future.
  • Automotive is the second-largest end-user industry for PEEK resin in the region. The rising vehicle production in the region is expected to drive the demand for PEEK resin in the coming years. Vehicle production is projected to reach 1.74 million units by 2029 from 1.23 million units in 2023.
  • The electrical and electronics segment is the fastest-growing end-user industry for PEEK resin in the region, which is projected to register a CAGR of 10.66% in terms of value during the forecast period (2023-2029). Consumer electronics demand is expected to rise during the forecast period as a result of technological advancements. The value of the consumer electronics industry in Africa is projected to reach USD 19.90 billion by 2027 from USD 11.78 billion in 2023. This growth in the electrical and electronics industry in the region is projected to drive the demand for PEEK resin in the future.
End User Industry
Aerospace
Automotive
Electrical and Electronics
Industrial and Machinery
Other End-user Industries
Country
Nigeria
South Africa
Rest of Africa
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Africa Polyether Ether Ketone (PEEK) Market Size Summary

The Africa Polyether Ether Ketone (PEEK) market is experiencing significant growth, driven by its versatile properties and increasing demand across various industries. PEEK's lightweight nature, high strength, low fatigue, and low flammability make it a preferred material in sectors such as automotive, electrical and electronics, and healthcare. The rising production of consumer goods, medical equipment, and vehicles in Africa is expected to further boost the demand for PEEK resin. South Africa leads the region in PEEK consumption, supported by its robust aerospace, automotive, and electronics industries. The Rest of Africa is also witnessing rapid growth in PEEK demand, fueled by advancements in electronic technologies and increasing vehicle production.

The electrical and electronics segment is the fastest-growing end-user industry for PEEK resin in Africa, with technological advancements driving the demand for consumer electronics. Despite the region's reliance on imports for consumer electronics, efforts to promote domestic manufacturing and research and development are expected to enhance local production capabilities. The market is fairly consolidated, with major players like Jilin Joinature Polymer Co., Ltd., Pan Jin Zhongrun High Performance Polymer Co., Ltd., and Victrex dominating the landscape. These companies are actively innovating, as seen with Victrex's introduction of a new implantable PEEK-OPTIMA polymer for medical device manufacturing. Overall, the Africa PEEK market is poised for substantial growth, supported by increasing industrial activities and strategic investments in infrastructure and technology.

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Africa Polyether Ether Ketone (PEEK) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Electrical and Electronics

      4. 1.1.4 Industrial and Machinery

      5. 1.1.5 Other End-user Industries

    2. 1.2 Country

      1. 1.2.1 Nigeria

      2. 1.2.2 South Africa

      3. 1.2.3 Rest of Africa

Africa Polyether Ether Ketone (PEEK) Market Size FAQs

The Africa Polyether Ether Ketone (PEEK) Market size is expected to reach USD 3.97 million in 2024 and grow at a CAGR of 9.90% to reach USD 6.36 million by 2029.

In 2024, the Africa Polyether Ether Ketone (PEEK) Market size is expected to reach USD 3.97 million.

Africa Polyether Ether Ketone (PEEK) Market Report Snapshots

Africa Polyether Ether Ketone (PEEK) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029