Market Analysis
The global polyetherimide market is predicted to touch USD 820 million at a 6.3% CAGR over the forecast period (2020-2027), in accordance with the latest Market Research Future (MRFR) report. Polyetherimide or PEI is a high performance and highly versatile engineering thermoplastic that has a wide range of applications across numerous industries including medical & healthcare, electrical and electronics, automotive, aerospace, pharmaceutical, metal replacement, bearings, household goods, and others.
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Various factors are propelling the polyetherimide market growth. These factors, in accordance with the MRFR report, include the rapidly growing automotive sector, growing application of high-performance plastics, robust development in the electronics market, consumers changing purchasing patterns, and rising disposable income. Moreover, the growing use of polyetherimide in the food industry to decrease contamination, strong research and development, the potential integration of polyetherimide in various applications such as aircraft antenna construction, semiconductors, and switches, and technological advancements are also propelling market growth.
On the contrary, the availability of various other lightweight substitutes and high cost are factors that may deter the polyetherimide market growth over the forecast period.
Market Segmentation
The MRFR report provides a complete segmental analysis of the polyetherimide market report on the basis of end use industry, form, type, and process.
Based on process, the polyetherimide market is segmented into extrusion, foam molding, blow molding, and injection molding. Of these, both the blow molding and injection molding segments collectively will have the largest share in the market over the forecast period. This is owing to the growing demand for injection-molded products with superior thermal and electrical properties in telecommunication and electrical & electronics industries.
Based on type, the polyetherimide market is segmented into reinforced and unreinforced. The reinforced segment is again segmented into fiberglass and carbon fiber. Of these, the reinforced segment will dominate the market over the forecast period. This is on account of the fact that the dimensional stability and high mechanical strength at elevated temperatures make the reinforced polyetherimide suitable for various applications in various end use industries such as electrical & electronics, aerospace, and automotive.
Based on form, the polyetherimide market is segmented into films, granules, rods, and sheets. Of these, the sheets segment will lead the market over the forecast period followed by rods. This is owing to the growing demand for polyetherimide sheets in the aerospace and automotive industries.
Based on end-use industry, the polyetherimide market is segmented into electrical and electronics, telecommunication, marine, aerospace, food and beverage, medical, automotive, and others. Of these, the automotive segment will have the maximum share in the market over the forecast period. This is owing to the growing demand for polyetherimide in the aerospace industry.
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Regional Analysis
By region, the polyetherimide market report covers the latest trends and growth opportunities across Europe, North America, Latin America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Asia Pacific region will dominate the market over the forecast period. This is owing to the growing manufacturing of automobiles and growing industrialization and urbanization. South Korea, India, Japan, and China are the key contributors in this region.
The polyetherimide market in Europe is predicted to have moderate growth over the forecast period. This is owing to the growing demand for polyetherimide in the automotive and medical industry. Italy, the UK, France, and Germany are the key contributors in this region.
The polyetherimide market in North America is predicted to have favorable growth over the forecast period. This is owing to the growing demand for polyetherimide in the automotive, aerospace, and oil and gas industries.
The polyetherimide market in Latin America is predicted to have considerable growth over the forecast period. This is owing to the region’s growing end use industries.
The polyetherimide market in the MEA is predicted to have moderate growth over the forecast period.
Key Players
Key players profiled in the polyetherimide market report include Röchling SE & Co. KG (Germany), Lehmann&Voss&Co. (Germany), Centroplast Engineering Plastics GmbH (Germany), PolyOne Corporation (US), Aikolon Oy (Finland), PolyOne Corporation (US), RTP Company (US), Mitsubishi Chemical Advanced Materials (Japan), Aetna Plastics (US), Westlake Plastics Company (US), SABIC (Saudi Arabia), and Ensinger (India). Key players adopted production capacity expansion, partnership, joint ventures, mergers and acquisitions to cater to the growing product demand.
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September 2019: A team at the University of Regina have developed a huge 3D printer with an aim in bringing their space exploration designs to life. The main structural component in the airlock is the end caps that are made of polyetherimide. Polyetherimide is an extremely strong plastic and is also lightweight and cost-effective. Putting this in low temperature will not make it brittle as most plastics in use.
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