Polyetherimide Market Size, Key Market Insights, Opportunities and Challenges, Sales and Revenue and Forecast Period 2021-2028| PolyOne Corporation (US), Aikolon Oy (Finland), PolyOne Corporation (US), RTP Company (US)
Market Analysis
The global polyetherimide
market is predicted to touch USD 820 million at a 6.3% CAGR over the forecast
period (2016-2023), 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.
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.
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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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.
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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.
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.
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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