Middle East Polyether Ether Ketone (PEEK) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

Middle East Polyether Ether Ketone (PEEK) Market Trends

Growing investments from the government and private players

• In the Middle East, Saudi Arabia is quickly emerging as one of the key markets for the electrical and electronics industry. Aside from the oil and gas industry, the country has a sizable consumer base and a broad range of industrial pursuits, contributing to the rapid annual increase in production for the electrical and electronics industry. Thus, electrical and electronics production in the region registered a CAGR of 18% from 2017 to 2019 in revenue terms.
• In 2020, the demand for consumer electronics for remote working and home entertainment increased due to the COVID-19 pandemic. In 2020, Saudi Arabia registered the highest smartphone penetration rate, around 97%, in the world, which enabled approximately 60% of Saudi customers to discover new sellers through social networks. Saudi Arabia faced a higher rate of e-commerce growth, nearly 60% (between 2019 and 2020), mainly due to the pandemic. The revenue from electrical and electronics production increased by 1.8% compared to the previous year.
• Electrical and electronic production is expected to witness a CAGR of 8.51% in value during the forecast period (2023-2029). The major driving component behind the growth is likely to be the growing investments from the government and the manufacturers like Samsung. Samsung has also been pitching its 5G wireless technology to the Middle East. Saudi Arabia implemented a 5G network in line with the Vision 2030 initiative. All such factors are expected to boost electronics production over the forecast period in the region.

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

Segment Analysis: End User Industry

Electrical & Electronics Segment in Middle East PEEK Market

The electrical and electronics industry emerged as the dominant end-user segment in the Middle East PEEK market, commanding approximately 25% market share in 2024. This significant market position can be attributed to the widespread applications of high-performance PEEK-based products in advanced and smart electrical devices. The material's exceptional electrical insulation properties, coupled with its ability to withstand high temperatures, make it particularly valuable in semiconductor manufacturing, electronic insulating films, connectors, printed circuit boards, and battery housing applications. The growing semiconductor industry in the region, exemplified by initiatives like Saudi Arabia's Advanced Electronics Company (AEC) signing an MoU for localizing semiconductor chip manufacturing, has substantially contributed to the segment's dominance. Additionally, the rising adoption of PEEK in consumer electronics manufacturing, particularly in the UAE where the electronics market is experiencing robust growth, has further solidified its market leadership.

Electrical & Electronics Segment Growth in Middle East PEEK Market

The electrical and electronics segment is projected to maintain its growth momentum with an estimated CAGR of approximately 11% during the forecast period 2024-2029. This exceptional growth trajectory is primarily driven by the increasing demand for PEEK in high-end applications such as smart devices and electronic insulators used in harsh environmental conditions. The implementation of 5G networks across the Middle East, particularly in Saudi Arabia as part of its Vision 2030 initiative, is expected to create substantial opportunities for PEEK applications in telecommunications infrastructure. Furthermore, the segment's growth is bolstered by significant investments from major manufacturers like Samsung, which has been actively promoting its 5G wireless technology in the region. The expanding consumer electronics market, coupled with the growing focus on developing local semiconductor manufacturing capabilities, is expected to sustain this robust growth rate through 2029.

Remaining Segments in End User Industry

The other significant segments in the Middle East PEEK market include PEEK aerospace, PEEK automotive, and industrial machinery sectors. The PEEK aerospace segment benefits from PEEK's lightweight properties and high temperature resistance, making it ideal for flight control components and aircraft interiors. The PEEK automotive sector utilizes PEEK in various applications including powertrain components, seal rings, and sensors, driven by the increasing focus on vehicle weight reduction and performance enhancement. The industrial machinery segment, though smaller, plays a crucial role in applications such as oil and gas equipment, chemical processing machinery, and heavy industrial components. These segments collectively contribute to the market's diversification and demonstrate the versatility of PEEK applications across different industrial sectors in the Middle East region.

Middle East Polyether Ether Ketone (PEEK) Market Geography Segment Analysis

Polyether Ether Ketone (PEEK) Market in United Arab Emirates

The United Arab Emirates dominates the Middle East polyether ether ketone market, holding approximately 31% market share in 2024, while demonstrating remarkable growth potential with an expected growth rate of around 10% from 2024 to 2029. The country's prominence in the market is largely driven by its robust aerospace and electronics industries. The electrical and electronics industry stands as the largest consumer of PEEK in the UAE, particularly in semiconductor applications and consumer electronics manufacturing. The country's strategic focus on developing its electronics sector, including initiatives to boost semiconductor production and digital ecosystem development, continues to drive PEEK demand. The aerospace sector represents another significant consumer of PEEK materials, leveraging its lightweight properties and resistance to extreme conditions. The UAE's commitment to advancing its aviation sector, both civil and military, further strengthens the demand for high-performance PEEK aerospace materials.

Polyether Ether Ketone (PEEK) Market in Saudi Arabia

Saudi Arabia represents a significant market for PEEK materials, driven primarily by its expanding industrial base and diversification efforts. The country's electrical and electronics industry demonstrates particularly strong demand for PEEK resins, especially in semiconductor applications and consumer electronics manufacturing. The aerospace sector in Saudi Arabia has emerged as another crucial consumer of PEEK materials, with increasing investments in military aerospace manufacturing capabilities and MRO (Maintenance, Repair, and Overhaul) facilities. The country's commitment to developing its domestic manufacturing capabilities, particularly in advanced materials and components, has led to increased adoption of PEEK in various industrial applications. The automotive sector also contributes significantly to PEEK consumption, with applications in powertrain components and other critical automotive parts. Saudi Arabia's push toward industrial diversification under its economic transformation initiatives continues to create new opportunities for PEEK automotive applications across various sectors.

Polyether Ether Ketone (PEEK) Market in Other Countries

The PEEK market in other Middle Eastern countries, including Oman, Qatar, Iran, Iraq, Turkey, and Yemen, demonstrates varying levels of development and potential. These markets are characterized by diverse industrial applications, with particular emphasis on automotive and electrical/electronics sectors. Oman's domestic automotive market shows promising growth potential, driving increased PEEK consumption in automotive applications. Qatar's industrial sector, particularly in oil and gas applications, presents significant opportunities for PEEK materials. Iran's manufacturing sector, despite challenges, continues to utilize PEEK in various industrial applications. The growing focus on industrial modernization across these countries, coupled with increasing investments in manufacturing capabilities, suggests positive prospects for PEEK market development. The automotive sector remains a key driver across these markets, with increasing demand for lightweight and high-performance materials in vehicle manufacturing. Additionally, the use of PEEK composite materials is gaining traction due to their superior properties, enhancing their appeal in engineering plastic applications.

Free With This Report

We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.