Polyether Ether Ketone (PEEK) Market Regional Analysis

The Asia-Pacific region dominated the majority of the global market. China has the region's largest polyether ether ketone (PEEK) market. According to industry experts, as global chip shortages are resolved, car sales in China are expected to increase in 2022. According to the State Information Center's senior economist, the global chip crisis is expected to be mostly resolved by 2022. The Chinese government plans to have at least 5,000 fuel cell electric vehicles by 2025, with a total of one million by 2030. During the forecast period, the government's marketing of electric, hybrid, and fuel cell electric vehicles is expected to drive the market.

North America's developed automotive, electronics, and growing aerospace industries are expected to drive strong growth in the PEEK market. The presence of major automobile manufacturers such as Chrysler, Tesla, Ford, Cadillac, and others in this region, as well as government initiatives in the defense and aircraft manufacturing industries, are expected to propel the market in the coming years. Low tariffs and production costs as a result of the country's extensive reach of free trade agreements are also expected to contribute to market growth.