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High demand for PEKK in aerospace and defense sector, rapid developments in the 3D printing technology are key factors boosting global market revenue growth
NEW YORK CITY, NY, UNITED STATES, January 27, 2022 /EINPresswire.com / -- The global Poly Ether-Ketone-Ketone (PEKK) market size is expected to reach USD 45.96 Million in 2028 and register a robust CAGR of 9.1%, according to the latest report by Reports and Data. Key factors such as high usage of PEKK in the field of dentistry for making implants, fixed and removable partial dentures and orthodontic wires, rapidly growing consumer electronics sector and increasing PEKK demand in the automotive sector are driving global market revenue growth.
Poly Ether-Ketone-Ketone is a semi-crystalline thermoplastic that belongs to polyaryletherketone polymer family, capable of handling high mechanical loads, chemical and high heat resistance. Due to these properties, PEKK is widely used in commercial aerospace sector to reduce aircraft weight, enhance fuel efficiency, and overall offer strong mechanical support. PEKK is extensively used in various industrial and automotive sectors for producing various structural components such as gears, bushes, ball valve seats, friction bearings, and seals. PEKK is also used in the medical sector as an anti-bacterial agent to decrease medical device infections and in dental tools and body imparts due to excellent chemical resistance. Moreover, various market players are investing in research and development activities to decrease the production cost of PEKK. However, factors such as disintegration of PEKK under radiation, and surface deterioration are expected to hamper overall market growth going ahead.
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Some major players in the global Poly Ether-Ketone-Ketone market include SABIC (Saudi Basic Industries Corporation), Arkema, Caledonian Ferguson Timpson Ltd., Darter Plastics, Inc., Solvay, Kaisheng New Materials, Polymics, Evonik Industries AG, Stern Companies, Quadrant Epp Surlon India Limited, RTP Company, OPM, Zyex, Celanese Corporation, and Jrlon, Inc.
Some key highlights in the report:
Based on type, the nucleophilic substitution segment is expected to account for robust revenue share between 2021 and 2028 owing to high usage of nucleophilic substitution method to produce high-performance thermoplastics with better chemical resistance and thermal stability.
Based on application, the automotive segment revenue is expected to expand at fastest revenue growth over the forecast period owing to increasing sales of lightweight vehicles and high usage of PEKK in manufacturing lightweight components, and rising demand to reduce CO2 emissions.
Asia Pacific Poly Ether-Ketone-Ketone market is expected to register rapid revenue growth during the forecast period. Rapid revenue growth is attributed to factors such as rapid growth in the consumer electronics and automotive sector, rising demand for various consumer electronic devices, and high demand for PEKK in the healthcare sector. In addition, rising disposable income, increasing adoption of electric vehicles, and increasing adoption of PEKK in dentistry are supporting Asia Pacific market growth.
North America is expected to account for largest revenue share throughout the forecast period. Factors such as increasing adoption of PEKK in aircraft manufacturing to reduce craft weight and minimize fuel consumption, rising investments in the automotive and aerospace sector, presence of key market players, and increasing usage of PEKK in 3D printing and medical devices are augmenting market growth in North America.
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For this study, Reports and Data has segmented the global PEKK market based on type, application, and region:
Type Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)
Application Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)
Regional Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)
Middle East & Africa
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