Aromatic Ketone Polymers Market Size, Share, Growth, and Industry Analysis, By Type (PEEK (Polyether Ether Ketone), PEKK (Polyetherketoneketone) and PEK (Polyetherketone)), By Application (Automotive, Coating, Adhesives, Textile, Pesticide and Others), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

Aromatic Ketone Polymers Market REPORT OVERVIEW

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The global aromatic ketone polymers market size was USD 698 million in 2022 and is projected to touch USD 1407 million by 2031, exhibiting a CAGR of 8.1% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The class of high-performance thermoplastic polymers known as aromatic ketone polymer, commonly referred to as polyarylketones or polyketones, has remarkable thermal, mechanical, and chemical capabilities. Their polymer backbone contains aromatic ketone groups (-C(O)-Ar-C(O)-), which define them. Polyetheretherketone (PEEK) and Polyetherketone (PEK) are the two most well-known and often utilised aromatic ketone polymer. These polymers can resist high temperatures without significantly degrading and have great thermal stability. They are useful for applications where heat resistance is crucial since they maintain their mechanical qualities even at high temperatures.

Due to their high strength and stiffness, aromatic ketone polymers are useful for structural elements in a variety of industries, including oil & gas, aerospace, automotive, and electronics. Their versatility in difficult conditions is further increased by their remarkable chemical resistance to a variety of solvents, acids, and bases. These polymers are desirable for applications in electrical connectors, insulators, and components needing fire resistance because they also have strong electrical insulating qualities, low flammability, and minimal smoke generation. The high melting temperatures and high viscosities of aromatic ketone polymer can make processing them difficult. However, molding methods including injection molding, extrusion, and compression molding can be used to create them.

COVID-19 Impact: Supply Chain Disruptions to Hinder Market Growth

Global supply networks, including the availability of raw materials, transportation, and logistics, were affected by the pandemic. These hiccups might have impacted the manufacturing and supply of aromatic ketone polymer, possibly causing shortages or delays in the supply. Due to the economic instability and disruptions brought on by the epidemic, demand for different products fluctuated. Key consumers of aromatic ketone polymers, like the automobile, aerospace, and oil and gas industries, saw considerable drops in demand at specific times. This might have had an effect on the demand for these polymers. Consumer behavior and market dynamics were affected by the pandemic. One factor that may have influenced the demand for aromatic ketone polymer in uses like medical imaging is the increased focus on the healthcare and medical industries.

LATEST TRENDS

"Increasing Demand from The Aerospace Industry to Enhance Market Growth"

Due to their superior mechanical and thermal properties, aromatic ketone polymers—in particular PEEK—are frequently employed in aerospace applications. An important development in the market for aromatic ketone polymer has been the ongoing expansion of the aerospace sector, which has been fuelled by consumer demand for lightweight, high-performance materials. Because they are biocompatible, sterile, and resistant to chemicals and biological fluids, ketone polymers are used in the medical and healthcare fields. They are utilised in implants, dental applications, surgical equipment, and medical devices. The expanding interest in healthcare and medical innovation has fuelled this industry's demand for aromatic ketone polymer. The producers of aromatic ketone polymer are continually attempting to improve the qualities and broaden the range of applications for these polymers by creating new grades and modifications.

Aromatic Ketone Polymers Market SEGMENTATION

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• By Type

Based on type market is classified as PEEK (Polyether Ether Ketone), PEKK (Polyetherketoneketone) and PEK (Polyetherketone).

• By Application

Based on application market is classified as automotive, coating, adhesives, textile, pesticide and others.

DRIVING FACTORS

"High-Performance Properties to Augment Market Growth"

PEEK and PEK are two examples of the remarkable thermal stability, mechanical strength, chemical resistance, and electrical insulating qualities possessed by aromatic ketone polymer. They are excellent for demanding applications in sectors like aerospace, automotive, electronics, oil & gas, and medicine thanks to these qualities. The market for aromatic ketone polymers is significantly driven by the demand for high-performance materials that can endure harsh environments and deliver excellent performance. The two biggest markets for aromatic ketone polymers are the aerospace and automotive sectors. These polymers are employed in fuel systems, electrical connectors, engine parts, aviation parts, and automotive under-the-hood applications. Adoption of aromatic ketone polymer is being driven by the rising demand for lightweight, high-strength materials in these industries to increase performance generally, decrease emissions, and improve fuel efficiency.

"Expanding Medical and Healthcare Applications to Propel Market Growth"

The medical and healthcare industries have made substantial use of aromatic ketone polymer. They are employed in a variety of healthcare goods, including orthopaedic implants, dental applications, medical devices, and surgical equipment. The need for aromatic ketone polymer in this industry is being driven by the growing emphasis on cutting-edge healthcare technologies, minimally invasive procedures, and the necessity for biocompatible and sterilizable materials. The need for high-performance materials is being driven by the quick industrialization and infrastructure expansion in emerging nations. Aromatic ketone polymers are appropriate for a variety of industrial applications due to their durability, chemical resistance, and mechanical strength. The need for aromatic ketone polymer is being fuelled by the expansion of industries such as construction, oil & gas, power generation, and chemical processing.

RESTRAINING FACTORS

"Processing Challenges to Impede Market Expansion"

PEEK and PEK are two examples of aromatic ketone polymer that are relatively pricey when compared to other thermoplastics. Their widespread implementation may be constrained, particularly in price-sensitive industries, by the high cost of raw materials as well as the difficult synthesis and processing requirements. For some applications and sectors, the cost issue can be a serious barrier. High melting point aromatic ketone polymer might be difficult to process. They need specialised processing tools and procedures, including high-temperature extrusion or injection moulding, which may cost more and demand more knowledge. Some producers may find it challenging to adapt and use aromatic ketone polymer, especially for small-scale or custom production, due to the processing difficulties.

Aromatic Ketone Polymers Market REGIONAL INSIGHTS

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"North America to Dominate the Market Due to its Strong Industrial Infrastructure"

The aerospace, automotive, and medical sectors, which are key users of aromatic ketone polymer, are all well-represented in North America, notably the United States. Numerous significant firms in the polymer sector, notably producers of ketone polymers, are based in the area. North America holds the top spot in the aromatic ketone polymers market share thanks to its strong industrial infrastructure, strong research and development skills, and the presence of end-user industries.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Evonik (Germany)
• Solvay (Belgium)
• Victrex (U.K.)
• Ensinger (Germany)
• SABIC (U.A.E)
• GEHR Plastics (U.S.)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.