April 20, 2020
As per the report titled ‘Polyetherimide (PEI) Market Size By Grade, By Form, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global polyetherimide market is projected to cross USD 800 million by the year 2025.
Escalating demand for high-performance engineering plastics that possess dimensional stability and temperature resistance properties is propelling the growth of polyetherimide (PEI) market. Widespread use of PEI in various industries including pharmaceutical, telecom & communication, and oil & gas is stimulating the market growth.
Usage of PEI in additive manufacturing industry for the manufacturing of products such as 3D printed beds owing to its high mechanical strength and thermal resistance, is expected to enhance the market growth. Adoption of cost-effective and efficient methods to manufacture customized products will expand the 3D printing industry, in turn bolstering the demand for polyetherimide.
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Furthermore, utilization of PEI in manufacturing of steering wheels, food tray containers, and interior cladding parts of aircrafts is contributing towards the market growth. Declining air fares and increasing international trade are complementing the product demand.
However, stringent government policies towards the reduction of plastic waste due its adverse impact on health and environment, coupled with high cost of raw materials will hinder the market growth over the forecast timeline.
In terms of grade, reinforced polyetherimide market segment is estimated to accrue USD 535 million by the year 2025. The product’s applicability in HVAC units, alongside fluid handling applications in manufacturing heat exchange systems, hot water reservoirs, and expansion valves are driving the segment growth. Apparently, surging demand for passenger vehicles across the globe will boost the demand for expansion valves, thereby enhancing the segment growth.
Based on the form, sheets segment is presumed to witness 5% growth during the projected timeline. High dielectric strength and low moisture absorption are fueling the demand for PEI sheets in manufacturing of electrical and electronic components. Thriving electronics and electrical industry owing to the advanced manufacturing techniques will foster the demand for PEI sheets.
Speaking of the application spectrum, polyetherimide market from automotive segment is anticipated to amass USD 290 million by the year 2025. PEI is widely used in automotive parts such as headlight reflectors, transmission components, and sensors due its cost-effectiveness as compared to metals. Improving standard of living and consumer purchasing power in emerging economies like India and China will boost the sales of vehicles, hence stimulating the segmental share.
Considering the geographical landscape, Germany polyetherimide market is expected to grow by 5.5% through 2025. Increase in number of quality conscious consumers in tandem with wide use of PEI in manufacturing kitchenware such as microwave bowls and plates is supporting the business growth in Japan.
Germany polyetherimide market is also projected to grow with a CAGR of 5.5% over the estimated timeframe, owing to extensive use of PEI in pharmaceutical industry for packaging of medicines. Growing healthcare awareness is further expanding the regional business landscape.
Key players operating in global polyetherimide market are RTP Company, Quadrant Group, Ensinger, SABIC, Mitsui Chemicals, Inc., Nationwide Plastics, Inc., Centroplast Engineering Plastics GmbH, Mitsubishi Chemical Holdings, PlastiComp, Inc., and Solvay among others.
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