Polyaryletherketone (PAEK) Market Size (2024 - 2029)

Polyaryletherketone (PAEK) Market Analysis

The polyaryletherketone (PAEK) market is expected to register a CAGR of greater than 6% during the forecast period.

The COVID-19 pandemic in 2020 had a negative impact on the polyaryletherketone market. However, the market has recovered since then owing to the growth in the related industries. Steady growth in the electronics, automotive, aerospace, and oil and gas industries has positively impacted the market since then, thereby driving the market study.

• The factors driving the growth of the market are the increasing demand from the automotive industry owing to its high strength and ability to withstand high temperatures. The demand for PAEK is also expected to increase in the oil and gas segment due to the physical and mechanical benefits associated with it.
• On the contrary, the availability of substitute products at cheaper rates is likely to hinder the market's growth.
• However, advancements in technology, especially in the electric vehicle segment, and the replacement of traditional metals with specialty thermoplastics are likely to generate numerous growth opportunities for the market during the forecast period.
• The Asia-Pacific region has been dominating the market due to the huge investments and high demand for PAEK from various end-user industries.

Polyaryletherketone (PAEK) Industry Segmentation

Polyaryletherketone (PAEK) is a class of high-performance semi-crystalline engineering thermoplastics with high temperature stability and high mechanical strength whose molecular backbone contains alternate ketone and ether groups. The polyaryletherketone (PAEK) market is segmented by type, form, filler, application, and geography. By type, the market is segmented into polyetheretherketone (PEEK), polyetherketone (PEK), polyetherketonketone (PEKK), and other types. By form, the market is segmented into tape, compound, sheet, fiber, and film. By filler, the market is segmented into glass-filled, carbon-filled, unfilled, and others. By application, the market is segmented into automotive, aerospace, electrical and electronics, medical, oil and gas, and other applications. The report also covers the market size and forecasts for the PAEK market in 15 countries across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD million).