Glass Filled PEEK Market Size

Global Glass-Filled PEEK Market Overview

Glass Filled PEEK Market Size was valued at USD 0.42 billion in 2023. The Glass Filled PEEK Industry is projected to grow from USD 0.45 billion in 2024 to USD 0.69 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2024 - 2032). As industries across aerospace, automotive, healthcare, and other sectors strive for innovation and efficiency, the unique properties of Glass Filled PEEK, such as its strength, thermal resistance, and chemical durability, position it as a favored choice for various applications are expected to be a significant market driver for the Glass Filled PEEK Market.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Glass-Filled PEEK Market Trends

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  The growing automotive and aerospace industries and increasing growth in the developing countries is driving the market growth

  
  

Market CAGR for glass filled PEEK is being driven by the growing automotive and aerospace industries and increasing growth in developing countries. The escalating demand for polyetheretherketone (PEEK) within the aerospace and automotive industries is poised to be a pivotal driver for market expansion. The aerospace and defense (A&D) sector, generating a substantial $391 billion in economic value, constituting 1.7 percent of the total nominal GDP in the United States, underscores the industry's significance. With $224 billion in labor income, equivalent to 1.8 percent of the nation's total labor income, and exports to 205 countries in 2021, the A&D industry's global reach further accentuates its influence on the PEEK market.

Furthermore, the healthcare industry's increasing adoption of PEEK, attributed to its columnar stiffness, biocompatibility, and torsion strength in thin walls, along with the rising demand for high-temperature-resistant materials, is anticipated to drive sustained growth in the PEEK market. The substitution of traditional materials with PEEK, coupled with the burgeoning economies of developing countries, is expected to accelerate market growth. Additionally, the improving economic conditions in advanced nations are projected to contribute to the overall market value growth of polyetheretherketone (PEEK).

As a result, it is anticipated that throughout the projection period, demand for the Glass Filled PEEK Market will increase due to the growing automotive and aerospace industries and increasing growth in the developing countries. Thus, driving the Glass Filled PEEK Market revenue.

Glass-Filled PEEK Market Segment Insights

Glass Filled PEEK Market Type Insights

The Glass Filled PEEK Market segmentation, based on Type includes C Level and D Level. The D level segment dominated the market, accounting for 58% of market revenue (XX Billion). The growing appetite for tailored solutions in the glass-filled PEEK market has the potential to drive the expansion of specific market segments. Should the "D Level" category denote a niche with distinct requirements, businesses specializing in customized solutions may witness heightened demand. Concurrently, continuous research and development endeavors in the glass-filled PEEK industry hold the promise of unveiling novel formulations and applications. These innovations, designed to meet the specific demands of the "D Level" segment, could further enhance market opportunities and business growth.

Figure 1: Glass Filled PEEK Market, by Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Glass-Filled PEEK Market Application Insights

The Glass Filled PEEK Market segmentation, based on Application includes Electrical & Electronics, Aerospace, Automotive, Oil and gas, Medical, and Others. The Automotive segment dominated the market, accounting for 58% of market revenue (XX Billion). Glass-filled PEEK presents exceptional mechanical characteristics, featuring high strength and stiffness, along with resistance to thermal degradation. These qualities position it as a fitting choice for diverse applications within the automotive sector, including engine components, transmission parts, and structural elements demanding durability and reliability. In the automotive industry, where components contend with various chemicals, fuels, and lubricants, the chemical and solvent resistance of glass-filled PEEK renders it a preferred option for applications with common exposure to such substances. This is attributed to its strategic suitability for maintaining performance integrity in automotive applications with demanding environmental conditions.

Glass Filled PEEK Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Glass Filled PEEK market in North America can be attributed to several key factors. The exceptional biocompatibility, sterilization resistance, and non-toxic nature of glass-filled PEEK position it as an optimal choice for applications in the medical and healthcare sectors. In 2021, the United States witnessed a substantial national healthcare expenditure of $4.3 trillion, equivalent to $12,914 per person. Projections by the Centers for Medicare and Medicaid Services estimate a further increase to $6.2 trillion by 2028. Notably, the U.S. allocated nearly 16.8% of its gross domestic product (GDP) to healthcare in 2019, as reported by the Commonwealth Fund. Given North America's pivotal role in the healthcare industry, the rising demand for cutting-edge materials in the manufacturing of medical devices and equipment stands poised to significantly contribute to the expansion of the glass-filled PEEK market.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLASS FILLED PEEK MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Glass Filled PEEK Market accounts for the second-largest market share as the healthcare sector in Europe, renowned for its sophistication, consistently pursues cutting-edge materials for advancements in medical devices and equipment. In 2020, among the EU Member States, Germany and France allocated the highest healthcare expenditure relative to GDP, standing at 12.8% and 12.2%, respectively. Germany, leading in current healthcare expenditure, invested €432 billion in 2020, followed by France with €281 billion, Italy with €160 billion, and Spain with €120 billion. The exceptional biocompatibility, sterilization resistance, and non-toxic attributes of glass-filled PEEK position it as a compelling choice for integration into medical applications. This strategic advantage has the potential to significantly contribute to the growth of the market within the healthcare industry. Further, the German Glass Filled PEEK Market held the largest market share, and the UK Glass Filled PEEK Market was the fastest-growing market in the European region

The Asia-Pacific Glass Filled PEEK Market is expected to grow at the fastest CAGR from 2023 to 2032. The region's market expansion is primarily fueled by the burgeoning aerospace and automotive industries. Within the aerospace sector, glass-filled PEEK finds application in the assembly of cabin components such as seats, overhead bins, and interior panels, as well as in critical engine components, particularly those in the high-temperature zones of jet engines. In the automotive realm, its utilization extends to engine components, interior and cabin elements, as well as suspension and chassis parts. This dynamic presents a significant opportunity for market growth in the region. Notably, recent developments, such as the substantial 32.3% year-over-year increase in India's domestic revenue passenger kilometers in March 2022, as reported by the International Air Transport Association, exemplify the robustness of the aerospace sector. Furthermore, the Indian government's ambitious plans to expand the aviation infrastructure, including the target of 220 operational airports by 2025 and the emphasis on unmanned aircraft systems, augur well for the continued growth and opportunities in the glass-filled PEEK market. Moreover, China’s Glass Filled PEEK Market held the largest market share, and the Indian Glass Filled PEEK Market was the fastest-growing market in the Asia-Pacific region.

Glass-Filled PEEK Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Glass Filled PEEK market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the filled PEEK industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Glass Filled PEEK industry to benefit clients and increase the market sector. In recent years, the Glass Filled PEEK industry has offered some of the most significant advantages to the manufacturing and engineering sectors. Major players in the Glass Filled PEEK Market, including Victrex, Solvay S.A, Evonik Industries, Panjin Zhongrun High-Performance Polymers, Mitsubishi Chemical, and Röchling EN are attempting to increase market demand by investing in research and development operations.

Evonik Industries AG, a subsidiary of RAG-Stiftung, stands as a specialty chemical company with a diverse product portfolio encompassing surfactants, polymers, resins, additives, and more. Its extensive range of products serves various markets, including agriculture, renewable energy, paints and coatings, paper and printing, metals and oil products, electrical and electronics, food and animal feed, consumer and personal care products, pharmaceuticals, plastics and rubber, automotive, and construction. The company not only provides a comprehensive product line but also offers a suite of services such as process technology, technical support, logistics, utilities, and waste management, as well as engineering services. With major production facilities strategically located in Germany, Belgium, the United States, China, and Singapore, Evonik operates globally, serving markets in North America, Asia-Pacific, Africa, South America, Europe, and beyond. Headquartered in Essen, Nordrhein-Westfalen, Germany, Evonik maintains a strong presence and contributes significantly to diverse industries through its specialized chemical offerings and comprehensive service portfolio.

Solvay SA, a prominent chemical manufacturing company, specializes in the production and distribution of essential chemicals, specialty polymers, and chemical materials. Its diverse product offerings cater to a broad spectrum of industries, including aeronautics and automotive, natural resources and environment, electrical and electronics, agrochemical, food, consumer goods, building and construction, healthcare, industrial applications, and more. In line with its commitment to sustainability, Solvay utilizes specially formulated chemicals crafted from eco-friendly materials to enhance the quality and performance of its products. The company actively engages in innovation and collaborates with customers globally across various end markets. With research and innovation centers as well as industrial sites strategically located in Europe, North America, Latin America, and Asia, Solvay maintains a robust presence and continues to play a vital role in diverse industries. The company's headquarters are situated in Brussels, Belgium.

Key companies in the Glass Filled PEEK Market include

• Victrex


• Solvay S.A


• Evonik Industries


• Panjin Zhongrun High-Performance Polymers


• Mitsubishi Chemical


• Röchling EN

Glass-Filled PEEK Industry Developments

March 2021: In March 2021, Evonik introduced a novel PEEK-based 3D printing filament named INFINAM® PEEK 9359 F. Engineered for additive manufacturing of robust industrial plastic components, this ready-to-use material boasts exceptional temperature and chemical resistance. The high-performance polymer is compatible with extrusion-based 3D printing methods like fused filament fabrication (FFF) and fused deposition modeling (FDM).

October 2016: In October 2016, Celanese Corporation strategically expanded its capabilities through the acquisition of SO.F.TER Group, a leading global thermoplastic compounder manufacturer based in Italy. This acquisition bolstered Celanese's technical expertise, production capabilities, and compounding capabilities for its product portfolio. It also facilitated an extension of its presence in key regions, including Mexico, Brazil, Italy, and the United States.

Glass-Filled PEEK Market Segmentation

Glass Filled PEEK Market Type Outlook

• C Level


• D Level

Glass Filled PEEK Market Application Outlook

• Electrical & Electronics


• Aerospace


• Automotive


• Oil & Gas


• Medical


• Others

Glass Filled PEEK Market Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America