According to the research report titled ‘Global Polyether Ether Ketone (PEEK) Market: Analysis By Type, By Application, By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023) - By Region (North America, Europe, APAC, ROW), By Country (U.S, U.K, France, China, India, Germany, Canada )’ available with Market Study Report, global polyether ether ketone market is anticipated to register a healthy CAGR of 8.66% during 2018-2023.
 

According to the report, favorable government initiatives towards reducing carbon-dioxide emissions coupled with increasing investments in defense and aerospace industry are major factors driving the growth of global polyether ether ketone industry. Inflating demand for automotive vehicles, aircrafts, electronic devices, and medical instruments are also propelling the market expansion.
 

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Moreover, increasing awareness pertaining to environment-protection has impelled the adoption of lightweight and fuel-efficient electric vehicles, which in turn is fueling the industry outlook. Widespread utilization of polyether ether ketone in transport systems, sealing rings and pumps & compressors is further facilitating the business scenario.
 

For the record, polyether ether ketone (PEEK) is extensively used to replace metal for purposes that need significant quantities of metal, including aviation and offshore applications.
 

In terms of type, global polyether ether ketone market is divided into unfilled, carbon unfilled, and glass unfilled. Among these, glass fiber segment is expected to register substantial growth by the year 2023.
 

With regards to the application spectrum, global polyether ether market is bifurcated into automotive, electrical and electronics, medical, aerospace, and oil & gas among others.
 

As per the regional analysis, global polyether ether ketone market is divided into Asia-Pacific, North America, Europe, and rest of the world. The country-level fragmentation of the industry includes India, Japan, China, rest of Asia-Pacific, Canada, U.S., United Kingdom, Germany, France, and rest of Europe among others.
 

The report states that Europe accounted for a substantial market share in 2018 and is estimated to generate appreciable returns in the ensuing years. However, Asia-Pacific is expected to dominate the global polyether ether ketone market through the year 2023, primarily driven by the vast clientele predominantly in India and China.
 

The major players in global polyether ether ketone market are Ensinger Group, Quadrant Plastics & Engg Co., Caledonian Industries Ltd, Panjin Zhongrun High Performance Polymer Co., Ltd., Evonik Industries AG, Solvay S.A, and Victrex plc among others.