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Abstract: Over the last half-century, polyether ether ketone (PEEK) has emerged as a widely adopted thermoplastic polymer, primarily due to its lower density, exceptional mechanical properties, high-temperature and chemical resistance, and biocompatibility. PEEK and its composites have found extensive applications across various fields, including machinery, aerospace, military equipment, electronics, and biomedicine, positioning themselves as promising substitutes for traditional metal structures. Nevertheless, achieving optimal performance and functional molding of PEEK and its composites presents a formidable challenge, given their inherent characteristics, such as semi-crystallinity, high melting temperature, heightened viscosity, low dielectric coefficient, and hydrophobic properties. In this paper, we present a comprehensive review of the molding methods and processes of PEEK and its composites, including extrusion molding, hot compression molding, injection molding, and 3D printing. We also introduce typical innovative applications within the fields of mechanics, electricity, and biomedicine while elucidating methodologies that leverage the distinctive advantages of PEEK and its composites. Additionally, we summarize research findings related to manipulating the properties of PEEK and its composites through the optimization of machine parameters, process variables, and material structural adjustments. Finally, we contemplate the prevailing development trends and outline prospective avenues for further research in the advancement and molding of PEEK and its composites.