PEEK Fasteners Market Trend, Share, Growth, Size and Forecast 2030

PEEK Fasteners Industry Prospective:

The global PEEK fasteners market size was worth around USD 3.2 billion in 2022 and is predicted to grow to around USD 6.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2023 and 2030.  

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PEEK Fasteners Market: Overview

PEEK Fasteners are a type of fastener constructed from PEEK, a form of plastic. PEEK fasteners are employed in situations where high temperatures or corrosive conditions are present because they can tolerate both. These fasteners are often utilized in aerospace, automotive, and medical applications. PEEK fasteners are commonly used to hold components or assemblies that require a high degree of strength and chemical resistance, such as fuel system components, electrical connectors, and medical implants.

Key Insights

• As per the analysis shared by our research analyst, the global PEEK Fasteners market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2030).
• In terms of revenue, the global PEEK Fasteners market size was valued at around USD 3.2 billion in 2022 and is projected to reach USD 6.1 billion, by 2030.
• The growing automotive and aerospace industries are expected to the PEEK fasteners drive market growth during the forecast period.
• Based on the product type, the PEEK Nuts segment is expected to hold a significant market share over the forecast period.
• Based on the application, the Automotive & Transportation segment is expected to grow at the highest CAGR over the forecast period.
• Based on the material, the Carbon Filled PEEK is expected to dominate the market during the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

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PEEK Fasteners Market: Growth Drivers

Favorable properties of PEEK fasteners drive market growth

PEEK is well-known for its superior mechanical qualities, which include high tensile strength, stiffness, and resistance to wear & fatigue. PEEK fasteners are therefore appropriate for applications requiring dependability and durability, such as aerospace, automotive, and medical devices. Furthermore, PEEK has good chemical resistance and can endure exposure to a wide range of corrosive chemicals and solvents. This trait is very important in sectors with hostile conditions, such as chemical processing and oil & gas. Therefore, these favorable properties of PEEK fasteners are expected to propel the global PEEK fasteners market growth during the forecast period.

PEEK Fasteners Market: Restraints

High cost and complex machining hinder market growth

Compared to conventional metals like steel or aluminum, PEEK is a comparatively expensive substance. For some businesses, particularly those with cost-sensitive applications, the increased cost of PEEK might be a substantial entry barrier. PEEK is a thermoplastic with special machining needs, too. When compared to metals, its processing is sometimes more difficult and time-consuming, which might raise the cost of manufacture, which in turn, hamper the PEEK fasteners industry growth over the forecast period.

PEEK Fasteners Market: Opportunities

The growing product launches offer a lucrative opportunity for market growth

The growing product launches are expected to offer a lucrative opportunity for PEEK fasteners market growth over the forecast period. For instance, in June 2023, SARPEK® PEK (polyetherketone), a highly advanced material solution for metal replacement and applications requiring the highest heat resistance of any injection moldable resin without requiring post-curing, has been added to the lineup by Polyplastics Group, one of the world's top engineering plastics suppliers. A development over PEEK (polyether ether ketone), SARPEK® PEK is an engineering plastic that offers a high crystallization rate and great molding efficiency. It is at the top of the crystalline super-engineering plastic hierarchy. In severe settings where conventional crystalline super-engineering polymers fail and metals are cumbersome and loud, it also offers superior heat resistance and strong strength to replace metals.

PEEK Fasteners Market: Challenges

Regulatory compliance poses a major challenge to market growth

Strict regulatory compliance is important in several areas, like aerospace and medical. PEEK fasteners may need extra testing and validation to meet certain regulatory standards, which might increase prices and lead times. Thus, strict regulatory compliance related to certain fields is expected to pose a major challenge to market growth over the forecast period.

PEEK Fasteners Market: Segmentation

The global PEEK Fasteners industry is segmented based on product type, application, material, and region.

Based on the product type, the global market is bifurcated into PEEK Nuts, PEEK Bolts, PEEK Screws, PEEK Washers, and Others. The PEEK Nuts segment is expected to hold a significant market share over the forecast period. PEEK Nuts are small, self-locking nuts constructed from high-performance thermoplastic PEEK (polyetheretherketone). For a range of applications, they are made to offer a dependable, corrosion-resistant fastening option. PEEK Nuts are often used in aircraft, medical devices, electrical & electronic components, and other high-performance applications. Thereby, driving the segment growth.

Based on the application, the global PEEK Fasteners industry is bifurcated into medical, oil and gas, manufacturing, semiconductor, aerospace & defense, automotive & transportation, and others. The Automotive & Transportation segment is expected to grow at the highest CAGR over the forecast period. The segment growth is attributed to the growing utilization of peek fasteners in various components of the vehicles. In the engine, PEEK fasteners may be utilized to hold down gaskets and seals, guaranteeing a tight and reliable seal, particularly in high-temperature conditions. Due to its heat and chemical resistance, PEEK is a good choice for this use. Additionally, interior trim and paneling can be secured with PEEK fasteners. Due to their reduced weight, vehicles can be lighter overall, which helps increase fuel economy. Thus, these benefits of using PEEK fasteners in vehicle components will drive market growth.

Based on the material, the global PEEK Fasteners industry is bifurcated into Virgin PEEK, Glass Filled PEEK, Carbon Filled PEEK, and Others. The carbon-filled PEEK is expected to dominate the market during the forecast period. The segment expansion is attributed to its beneficial properties such as enhanced strength & stiffness, improved wear resistance, and others. PEEK's tensile strength and stiffness are considerably improved by the inclusion of carbon fillers. Due to its increased strength and rigidity, carbon-filled PEEK can endure greater mechanical loads and stresses without deforming or failing. Furthermore, PEEK's wear resistance is improved with carbon fillers, making it far more resilient to friction, abrasion, and sliding contact. Components like seals, bushings, and bearings benefit from this characteristic. Thereby, driving the market growth.

PEEK Fasteners Market: Report Scope

PEEK Fasteners Market: Regional Analysis

Asia Pacific is expected to dominate the market over the forecast period

The Asia Pacific is expected to dominate the global PEEK fasteners market over the forecast period. The market growth in the region is attributed to the growing aerospace and automotive industry. In the aerospace sector, it is used in the assembly of cabin components, such as overhead bins, seats, and interior panels. It is also used in the assembly of engine components, including those in hot sections of jet engines. In the automotive sector, it is used in engine components, interior & cabin components, and suspension & chassis. Therefore, the growing aerospace and automotive sectors offer a potential opportunity for market growth in the region. For instance, in March 2022, India's domestic revenue passenger kilometers increased 32.3 percent year over year, according to the International Air Transport Association. By 2025, the Indian government hopes to have 220 airports operating around the nation, up from 140 nowadays. In addition, there are plans to build 15 new flying schools, and 33 new domestic freight ports, and there is a stronger emphasis on unmanned aircraft systems. According to Boeing, India needs an extra 2,500 passenger planes to fulfill this demand, which is expanding quickly. Thus, this is expected to drive the market growth in the region.

PEEK Fasteners Market: Competitive Analysis

The global PEEK Fasteners market is dominated by players like:

• Arthrex
• Bohlender
• Craftech Industries
• Dongguan Yulong Sealing Technology
• E & T Fasteners
• Essentra
• Extreme Bolt & Fastener
• Guangzhou Engineering Plastics Industries
• Hirosugi-Keiki
• Hitech Fluoro Products
• Junhua ChinaPeek
• Medacta International
• Metrohm
• Misumi
• Nabeya Bi-Tech
• Nippon Chemical Screw
• Orthopromed
• Peek Fits
• Polymerscrew
• Premix
• Sinco-CNC
• Smith+Nephew
• SNC Plastic
• Spectris (Malvern Instruments)
• Supreme Plastics
• TEI Fasteners
• Tulpar Medical Solutions
• UVS Plastics
• Vital Parts and Zimmer Biomet

The global PEEK Fasteners market is segmented as follows:

By Product Type

• PEEK Nuts
• PEEK Bolts
• PEEK Screws
• PEEK Washers
• Others

By Application

• Medical
• Oil & Gas
• Manufacturing
• Semiconductor
• Aerospace & Defense
• Automotive & Transportation
• Others

By Material

• Virgin PEEK
• Glass Filled PEEK
• Carbon Filled PEEK
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa