Increasing Application of PEKK in Aerospace and Defense Industry Driving Market Revenue Growth: Reports and Data

Advancements in 3D printing technologies, increasing use of PEKK as biomaterial in dental and medical applications, and expanding application scope in aerospace, automotive, and chemicals industries are some key factors driving market growth

NEW YORK, Dec. 6, 2021 /PRNewswire/ -- Reports and Data has published its latest report titled "Poly Ether-Ketone-Ketone (PEKK) Market By Type (Electrophilic Substitution, Nucleophilic Substitution), Application Type (Aerospace, Automotive Industry, Medical Industry, Others), And Region Forecast To 2028."

According to the latest report, the global poly ether-ketone-ketone market size was USD 22.9 million in 2020 and is expected to reach USD 45.96 million in 2028 and register a revenue CAGR of 9.1% during the forecast period, 2021-2028.

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Drivers, Restraints, and Opportunities

Polyetherketoneketone is a novel polymeric material that is increasingly garnering attention among researchers owing to excellent properties that make it suitable for a wide range of applications. PEKK is used for various industrial and military applications and recently, it is being used as a biomaterial for medical and dental purposes. PEKK is widely used in restorative, prosthetic, and implant dentistry owing to high mechanical strength. Increasing demand for PEKK from the automotive sector to produce cranial implants and from commercial aerospace sector to produce lightweight aircraft parts and components and enhance fuel efficiency are some key factors expected to continue to drive global market revenue growth over the forecast period.

PEKK is a methacrylate-free thermoplastic high performance material that is a well-known member of the polyaryletherketone (PAEK) family. PEKK has a second group which increases its polarity and rigidity. PEKK exhibits both amorphous and crystalline behavior, which enables production of different products. The second ketone group in PEKK has robust chains of polymer and exhibits excellent physical and mechanical attributes. Addition of titanium dioxide in PEKK further enhances its hardness and wear resistance. Polyetherketoneketone is used is dental implant biomaterial owing its excellent mechanical properties and better stress distribution. PEKK also has robust biocompatibility and is a viable alternative to implants made from titanium for long-term orthopedic purposes. It has also been approved by the FDA for spinal and oro-maxillofacial surgeries. PEKK offers metal-free restorations and is helpful in patients with allergies. Over the recent past, applications of PEKK in dentistry have expanded and currently includes usage in removable partial denture as dental clasps and frameworks using digital technology. Advancements and modifications in material properties further increase applications of PEKK in clinical dentistry, and this is expected to contribute to revenue growth of the market going ahead.

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Polyetherketoneketone has a high melting point and offers excellent resistance to chemicals and abrasion. It offers exceptional resistance to extreme environments such as aerospace and oil exploration, and increasing need for lighter materials in the aerospace industry and for equipment and systems used in oil exploration have further boosted demand for PEKK. Increasing investment in R&D activities, development of robust industrial production facilities for PEKK, and advancements in 3D printing are some other key factors expected to drive market growth. However, high production costs of PEKK and disintegration under radiation are some factors that can limit its usage and potentially hamper market growth to a certain extent over the forecast period.

COVID-19 Impact Analysis

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants continue to cause concerns and impact normal routines

Nucleophilic Substitution Segment to Lead in Terms of Revenue Share:

Nucleophilic substitution segment is expected to account for significantly large revenue share over the forecast period, which is attributable to increasing employment of this method to manufacture high performance thermoplastics and produce PEKKs having greater hydrophobicity and dielectric properties.

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High Demand from Aerospace Industry to Support Market Growth:

Aerospace segment is expected to dominate other application segments in terms of revenue share over the forecast period, attributable to increasing use of PEKK components in commercial aerospace applications to reduce aircraft weight, improve fuel efficiency, and enhance mechanical performance. PEKK components for aerospace applications can be produced faster and at lower costs as compared to conventionally used composites.

North America to Account for Significantly Large Revenue Share:

North America market is expected to account for a significantly large revenue share in the global market during the forecast period, which is attributable to increasing investments by aircraft manufacturers to develop more lightweight aircraft and related components, availability of carbon-PEKK composites, and robust presence of key market players in countries in the region. 

Asia Pacific to Register Fastest Revenue Growth Rate:

Asia Pacific is expected to register robust revenue CAGR over the forecast period owing to rapidly growing consumer electronics industry in countries in the region driving increasing demand for PEKK for manufacturing of electronic devices and rising demand for more advanced consumer electronics owing to increasing disposable income among consumers.

Major Companies in the 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
• Jrlon, Inc.

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Market Segmentation:

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)

• Electrophilic Substitution
• Nucleophilic Substitution

Application Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)

• Aerospace
• Automotive Industry
• Medical Industry
• Others

Regional Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Israel
• Rest of MEA

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Some points on how the report benefits stakeholders:

• The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
• Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
• The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
• The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
• Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
• The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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