PEEK Market Outlook

PEEK Market Outlook

The global PEEK demand in 2017 was estimated to be around 6,485 tons. It is forecast to grow at a CAGR of 5.9% between 2018 and 2025 to reach 10,261 tons in 2025. Globally, PEEK consumption in automotive, aerospace and medical applications are estimated to grow fast during the forecast period.

PEEK Global Capacity – 2017 (13,163 tons)

 PEEK Global Capacity – 2017

Western Europe is the biggest market at a global level in 2017 accounting for almost 43% of the global PEEK demand. Asia-Pacific is the second biggest market with a market share of 28% and is estimated to grow at a high CAGR of 7.9% on account of increase in electrical &electronics and automotive industry. The region has benefited as some of electrical & electronics and automotive manufacturing has seen a shift from Western Europe to Asia-Pacific countries like China, India, Vietnam, South Korea and other South East Asian Countries. North America is estimated to account for around 24% PEEK consumption at a global level while other regions like Central & Eastern Europe, Central & South America and Middle East& Africa together account for 5.6% market share.

Global PEEK Demand, By End-Use Industry, 2017 (6,485 tons)

 Global PEEK Demand, By End-Use Industry, 2017

In our long-term forecast to 2025, we expect Western European demand to grow to 4,259 tons from 2,788 tons in 2017.  The second biggest and fastest growing region is Asia-Pacific, mostly on account of Japan, China and other Asian countries. The North American region on account of United States is expected to reach 2,143 tons by 2025 from 1,543 tons in 2017.

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