Scienza e Tecnologia
Increasing Application of PEKK in Aerospace and Defense Industry Driving Market Revenue Growth: Reports and Data
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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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.
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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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 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 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.
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For this study, Reports and Data has segmented the global PEKK market based on type, application, and region:
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