DALLAS, Feb. 25, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global PEEK market looks promising with opportunities in electronics, oil & gas, aerospace, medical, automotive, and other industries. The global PEEK market is expected to reach an estimated $957 million by 2024 with a CAGR of 5.4% from 2019 to 2024. The major drivers for this market are growing demand for high temperature resistance materials in different end use industries.
Browse 77 market data tables and 95 figures spread through 157 pages and in-depth TOC on “Global Polyetheretherketone (PEEK) Market" at https://www.lucintel.com/polyetheretherketone-market.aspx
In this market, different types of PEEK such as electronics, oil & gas, aerospace, medical, automotive, and others are used as end use industry. Lucintel forecasts that electronics will remain the largest end use industry by value and volume due to its wide use in mobile and semiconductor applications. Aerospace is expected to witness the highest growth over the forecast period due to the increasing usage of PEEK in aircraft components such as brackets, fasteners, and others.
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Europe is expected to remain the largest market for PEEK due to the increasing consumption of PEEK in all the major applications in this region. North America is expected to witness the highest growth rate during the forecast period due to the anticipated growth in the aerospace, oil and gas, and electronics industries.
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Emerging trend, which has a direct impact on the dynamics of the PEEK industry, includes development of new applications, such as car gears, dental disc, and knee implants. Victrex, Solvay, Evonik, Panjin Zhongrun, and Zypeek Jilin and others are among the major PEEK manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global PEEK market by end use industry, use, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Polyetheretherketone (PEEK) Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com