Polyetheretherketone (PEEK) Market in China 2023

Polyetheretherketone (PEEK) Market in China 2023

PEEK, or Polyetheretherketone, belongs to the high molecular weight category of polyaryletherketones (PAEK), accounting for over 80% of the total consumption in this category.

The PEEK market in China has witnessed significant growth, expanding from 1,380 tons in 2019 to 2,290 tons in 2022, with a compound annual growth rate (CAGR) of 18.4%. This trend is likely to continue, with PEEK expected to maintain a high growth rate in the coming years.

Despite the growing demand for engineering plastics in China, the country's production capacity still falls short of meeting domestic demand, with a self-sufficiency rate of only 62%, particularly in special engineering plastics, where the rate is as low as 38%. Among special engineering plastics, PEEK is one of the materials with the highest import dependence.

Currently, the global total capacity for PEEK stands at approximately 16,000 tons per year, with the top three producers accounting for over 80% of the global capacity. The leading players in the global PEEK market include Victrex plc, Solvay S.A., Evonik Industries AG, Shandong Junhao High-Performance Polymer Co., Ltd., Panjin Weiyingxing High Performance Materials Co., Ltd., Jilin Joinature Polymer Co., Ltd., Zhejiang Pfluon Technology Co., Ltd., Shenzhen Wote Advanced Materials Co., Ltd., Changchun Jilin University Special Engineering Plastics Research Co., Ltd. (JUSEP), and others.

Among these players, Victrex plc, Solvay S.A., and Evonik Industries AG hold the largest market share, accounting for over 85%.