The global aromatic ketone polymers market is bubbling up, quite literally. Demands have spiked, regulators are ruling in favor of the usage of lightweight composites (ergo, high performance, durable and biodegradable material such as AKPs) to save on fuel and limit the global carbon footprint. Importantly, Polyether Ether Ketone (PEEK) is redefining the usage of polymers in engineering applications. According to Technavio, the global AKPs market is set to grow upwards of USD 1 billion by the year 2021.
Rise of the AKPs- An Assortment of End Users
AKPs find great applicability across several lucrative disciplines, including Aerospace, Manufacturing and Healthcare. Herein, the former’s tensile strength, robustness and resistance across extremes of temperature and pressure are much sought after attributes. Aromatic Ketone Polymers are fast replacing metals in key functional applications and is the lifeblood of the additive manufacturing industry- also known as 3D Printing. Currently, the latter is the hottest explorative concept in numerous influential industry verticals and the subject of intense innovation and investments.
PEEK into the Future- Top CAGR & Strategies
Thus, the stage is set. A highly versatile and resistant material, industries that seek said versatility and functional resistance and the rapid pace of scientific inquiry that seeks to further streamline the adoption of AKPs in the mainstream industrial disciplines. As mentioned in its insightful market research report, Technavio reasons that these factors will contribute in the AKPs market attaining a blistering CAGR in excess of 9% through the 2017- 2021 interval. Also mentioned is the fact that a commendable 82.4% of AKPs’ market share will be attributed to Polyether Ether Ketone (PEEK), the veritable wonder polymer!!
So, how saturated is the global aromatic ketone polymers market? In terms of opportunity, it is not. However, the existing competition is very focused and the threat of long lasting business rivalries is substantially high. Currently, the prime global players in the AKPs arena include, A. Schulman, Evonik, Caledonian Ferguson Timpson, Solvay and Victrex. Not surprisingly, all these big brands project PEEK as a key product in their respective product lineups.
What’s Hot & Cold in the AKP World?
The exhaustive market research and analysis report from Technavio explores the most important drivers and limitations that is set to impact this lucrative discipline in the next five years. Expounding,
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Market Drivers
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Challenges |
| Exponentially increasing demand for high performance polymers. | Currently, the production, adoption and recycling of AKPs is a costly affair. Especially, PEEK. |
| Greater adoption of regulations that encourage the use of lightweight production materials that will improve fuel efficiency. Esp. in automotive and aerospace sectors. | Thanks to their high costs (10x times costlier than other engineering and commodity thermoplastics) the threat of AKPs being replaced by cheaper substitutes is a realistic probability. |
| The wonder polymer, PEEK, is currently an expensive option. However, it can be recycled and pushed back into the production line. This renders PEEK an attractive bet for the future. | The recycling of PEEK is massively expensive and harmful to the environment. Also, due to the lack of concrete clinical studies about the impact of AKPs on the environment, flora and fauna, the latter could be walking a tightrope that separates commercial acceptance from permanent banishment. |
The Technavio Advantage- Expert Insights into a Receptive Marketplace
While the international aromatic ketone polymers market tries to balance its future potential with the propensity for high functional costs, the analytical experts at Technavio are busy deciphering market trends and latent challenges that will likely impact this extremely lucrative field in the next five years. Be in the know, by downloading the exhaustive market research report or customizing it to specifically cater to your business’s individual requirements and limitations.
