Polyaryletherketone (PAEK) Market Grows with Rising Demand for High-Performance Polymers
Market Overview The global polyaryletherketone (PAEK) market was valued at USD 953.68 million in 2022 and is expected to witness a robust growth trajectory, expanding at a compound annual growth rate (CAGR) of 6.5% during the forecast period. This high-performance thermoplastic is gaining traction across diverse industries such as aerospace, automotive, oil & gas, and medical due to its superior mechanical properties, chemical resistance, and high thermal stability. PAEK is a family of semi-crystalline polymers, including polyetheretherketone (PEEK), polyetherketoneketone (PEKK), and polyetherketone (PEK), recognized for their outstanding performance in extreme conditions. The rising demand for lightweight, durable materials in industrial applications is fueling the adoption of PAEK, with manufacturers increasingly favoring it over metals and other traditional polymers. Key Market Growth Drivers 1. Rising Demand in Aerospace and Automotive Sectors One of the primary dri...