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BEIJING, Dec. 12, 2022 (GLOBE NEWSWIRE) — The Global Polyetherimide Market Size accounted for USD 655 Million in 2021 and is estimated to achieve a market size of USD 1,063 Million by 2030 growing at a CAGR of 5.7% from 2022 to 2030.
Polyetherimide Market Statistics
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Polyetherimide Market Coverage:
|Polyetherimide Market Size 2021||USD 655 Million|
|Polyetherimide Market Forecast 2030||USD 1,063 Million|
|Polyetherimide Market CAGR During 2022 – 2030||5.7%|
|Polyetherimide Market Analysis Period||2018 – 2030|
|Polyetherimide Market Base Year||2021|
|Polyetherimide Market Forecast Data||2022 – 2030|
|Segments Covered||By Grade, By Form, By Application, And By Geography|
|Polyetherimide Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Ensinger Plastics, RTP Company, SABIC, Mitsubishi Chemical Advanced Materials, Quadrant Group, Röchling Group, Solvay SA, Toray Industries, Honeywell International Inc, 3M Co, and Kuraray GmbH.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Polyetherimide Market Overview
Polyetherimide has high elastic flexibility, is flame resistant, emits little smoke, and has excellent hydrolytic stability. Due to the obvious product’s stability, the manufacturing range is broader than that of its counterpart. Federal programs based on robust research and innovations have promoted the usage of the goods and have been accompanied by significant expenditures in technical advancement.
Polyetherimide Market Trends
The increase in the number of favorable government laws, as well as widespread application in the automobile and food industries are important factors driving the global polyetherimide (PEI) market value. The use of polyetherimide to decrease contamination of food, reduced overall car weight to reduce carbon emissions, and severe regulatory measures like the FDA and European Union limiting VOCs will enhance the desire for the polyetherimide market growth. In addition, the food business is predicted to expand dramatically. Due to stain and durability difficulties with products, it increase use in appliances and cookware. Furthermore, food adulteration is likely to have a negative impact on consumer health. As a result, the FDA has declared that the products that are safe for additions are used in foodstuffs indirectly. These reasons are projected to fuel the worldwide polyetherimide market demand.
Glass fiber in the product sector is likely to lead the worldwide polyetherimide (PEI) market with the largest share and to rise in the coming few years. This expansion might be due to the leading polyetherimide producers’ focus on continuous product introductions to provide high-quality plastics for a variety of applications. For example, in February 2018, SABIC announced plans to increase polyetherimide resin production capacity in the Netherlands and the Asia Pacific region. This aspect will boost the sustainability of the polyetherimide industry.
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Polyetherimide Market Segmentation
The global polyetherimide market has been segmented by Acumen Research and Consulting based on grade, form, and application. By grade, the segment is separated into unreinforced and reinforced (glass fiber and carbon fiber). According to the polyetherimide market forecast, the reinforced category is predicted to develop significantly in the next years.
In terms of form, the market is categorized into integral film, sheet, tube, granule, and rod. Moreover, the market is split into automotive (interiors, under hood components, bumper and fuel systems), electronics (switches, coils & fuses and semiconductors), aerospace (antenna construction and interiors), pharmaceuticals (fixtures and surgical probes), consumer products (kitchenware and appliances), industrial (oil & gas, telecommunication, fluid handling and marine cleats), and food, based on the application.
Polyetherimide Market Regional Overview
Based on the region, the worldwide polyetherimide market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to the current polyetherimide industry analysis, the Asia-Pacific region is anticipated to hold a significant share of the global market followed by Europe and North America territory. Its predominance in the Asia-Pacific region originates from its widespread use in the automobile sector for a wide range of applications such as dashboards and fenders due to its strength. Furthermore, population growth and fast urbanization are important factors that will benefit the car sector. This aspect will promote growth for the Asia-Pacific polyetherimide (PEI) industry. Besides that, the increase in consumption from the medical industry brought on by consumers’ increased awareness of infectious conditions is the key factor driving the polyetherimide (PEI) industry in the Europe region. Latin America and the Middle East and Africa are expected to increase significantly during the projection period.
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Polyetherimide Market Players
The widespread usage of glass fiber polyetherimide in the semiconductor market has drawn the attention of the major participants in the polyetherimide (PEI) market. Furthermore, industry participants are undertaking strategic priorities such as partnerships, collaborations, and acquisitions to increase their market position and improve their presence in the worldwide polyetherimide (PEI) market. These characteristics are expected to provide tremendous potential prospects for the global polyetherimide (PEI) market’s leading industry players. Some of the prominent polyetherimide market companies are RTP Company, Ensinger Plastics, SABIC, Röchling Group, Quadrant Group, Solvay SA, Honeywell International Inc, Toray Industries, 3M Co, Mitsubishi Chemical Advanced Materials, and Kuraray GmbH.
Questions Answered By This Report
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