Albany, NY -- (ReleaseWire) -- 07/08/2014 -- Polyether ether ketone, a thermoplastic polymer possessing high strength and chemical resistance compared to other traditional substitutes such as polyethylene. Polyether ether ketone belongs to the family of polyaryletherketone and is obtained by polymerization of bisphinolate salts. Polyether ether ketone is often mixed with carbon, glass or is supplied as unfilled polyether ether ketone as per the end user applications. Several physical characteristics such as light weight, low moisture absorption, superior mechanical & electrical properties and ability to retain its properties at high temperatures have been driving demand for polyether ether ketone. Major end user applications of polyether ether ketone include automotives, aerospace and insulation among others.
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Polyether ether ketone is semi crystalline and a bio compatible material hence the material has been gaining acceptance as implants in the medical field. MRI compatibility, sterilization resistance and lack of toxicity are among other major characteristics that make polyether ether ketone suitable for various medical implants applications such as spine devices. Research and development activities to increase the medical application scope of polyether ether ketone are expected to offer huge growth opportunity during the forecast period.
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Automotive is among the major application segment for polyether ether ketone. With depleting renewable fuel resources and increasing fuel prices, fuel efficiency has become a major driver for the demand for automobiles. Weight of the vehicle is among the major factors influencing fuel efficiency and polyether ether ketone is a light weight and high strength material thus increasing demand for light weight vehicle has been a major factor fuelling growth for polyether ether ketone market. Comparatively low environmental hazards during production have made polyether ether ketone compliant with several environmental regulations. Hence increasing demand for eco friendly and efficient material also have been major factors driving polyether ether ketone market growth.
Europe followed by North America dominates the global demand for polyether ether ketone and the trend is expected to continue in the near future. Stringent environmental regulations regions have been the foremost driver for polyether ether ketone market in these regions. The U.S, U.K, France, Germany are among major regions driving demand for polyether ether ketone in Europe and North America.
Asia Pacific comprises of two of the largest countries in terms of population namely India and China. These regions are also among the major emerging economies in terms of GDP growth rate and increasing disposable income has led to growth in several end user industries such as automobiles. Owing to increasing awareness about polyether ether ketone coupled with growth in end user industries, Asia Pacific is expected to be the fastest growing region for polyether ether ketone demand in the near future. Emerging economies of Africa and South America are expected to offer huge growth opportunities for polyether ether ketone market. Increasing awareness in new geographic segment coupled with research and development activities to increase application scope of polyether ether ketone are expected to offer huge growth opportunity for the market.
Some of the major players in the polyether ether ketone market include Solvay Specialty Polymers, Panjin Zhongrun High Performance Polymers Co. Ltd, Jida Evonik High Performance Polymers (Changchun) Co. Ltd, Tri Town Precision Plastics, Inc., Caledonian Ferguson Timpson Ltd, Prototype & Plastic Mold Co. Inc., Tri-Mack Plastics Manufacturing Corp. and Darter Plastics Inc. among others.
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