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. Recent advances in electrical infrastructure have significantly aided the polyetherimide (PEI) market growth. Furthermore, the growing necessity for environmental management and smoke emission reduction has boosted the polyetherimide market value.
Polyetherimide Market Report Key Highlights
Polyetherimide (PEI) is a heat-resistant & transparent polymer used in the production of car interior components. Due to its superior electrical, heat, and mechanical qualities, it finds use in a variety of sectors. Furthermore, due to its fewer production stages and connections, PEI, in conjunction with high thermal conductivity fillers, is a cost-effective alternative to metals. It is widely utilized as a metal substitute in compact electronic devices because it enhances the efficiency of small electronics by dispersing heat.
Global Polyetherimide Market Trends
Polyetherimide Market Report 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
|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.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Rising disposable income and shifting purchasing patterns of consumers are the major factors that are expected to boost the global polyetherimide (PEI) market size. Polyetherimide (PEI) is extensively used in aerospace and electronics owing to its heat-resistant properties. Rising demand for heat-resistant plastics from the electronics and aerospace sector will further propel the growth of the PEI market value. Moreover, the technological advancements and integration of polyetherimide in various applications such as semiconductors, switches, and aircraft antenna construction will contribute to the growth of the PEI market size.
Rapid expansion in the automotive industry is expected to boost the demand for polyetherimide. The product is used in manufacturing automotive interiors, bumpers, handles, thermostat housings, under-hood components, and lamp sockets. The continuous development in the electronics industry with the growing application of heat-resistant plastics is expected to support the growth of the polyetherimide (PEI) market revenue.
Polyetherimide Market Segmentation
The global polyetherimide market segmentation is based on grade, form, application, and geography.
Polyetherimide Market By Grade
According to a polyetherimide industry analysis, the reinforced PEI segment accounted for the largest market share in 2021. Reinforced PEI is intended to meet a wide range of engineering needs. It is classified into two types: glass-reinforced and fiber-reinforced. Glass-reinforced PEI provides increased dimensional accuracy as well as enhanced mechanical and electrical properties while retaining strong processibility. Fiber-reinforced PEI is used for purposes such as corrosion prevention due to its compressive performance.
Polyetherimide Market By Form
In terms of form, the sheet led the polyetherimide industry in 2021. PEI sheets offer high flame resistance, and chemical resistance, and can also be used in vapor and hot water settings. PEI has high thermal stability, tensile properties, and electrical and insulating properties. PEI sheet has low absorption of moisture and high dimensional stability in a variety of conditions. Sheet properties that provide improved thermal efficiency, as well as high stiffness and strength, are driving category expansion. Other properties such as heat resistance, acid resistance, as well as ease of use in the vicinity of hot water and steam drive its demand.
Polyetherimide Market By Application
According to the polyetherimide market forecast, the aerospace industry is predicted to increase moderately in the approaching years. Due to its flame retardance and lightweight, it is used to make air control parts and specialty fluids. The equipment also complies with the most recent industry standards for smoke, fire, and toxicity. In addition, the rising demand for heat-resistant polymers in the aircraft industry and telecommunications industries has boosted the market growth. PEI is also commonly employed in the healthcare field due to its great chemical resistance.
Polyetherimide Market Regional Outlook
The Middle East & Africa
Asia-Pacific Leads The Global Polyetherimide Market
The Asia-Pacific region is expected to dominate the global polyetherimide (PEI) market followed by Europe and North America region. The dominance of the polyetherimide (PEI) market in the Asia-Pacific region is due to its widespread adoption in the automotive sector in various applications such as under hood components, interiors, and bumpers due to its high strength features. Also, the growing population and rapid increase in urbanization will have an impact on the automotive industry. This factor will drive the demand for the polyetherimide (PEI) market in the Asia-Pacific region. The polyetherimide (PEI) market in the Europe region is mostly driven by the rising demand from the healthcare sector due to the increase in awareness of chronic diseases among people.
Polyetherimide Market Players
Some of the top polyetherimide market companies offered in the professional report include 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.
The estimated value of global polyetherimide market in 2021 was accounted to be USD 655 Million.
The projected CAGR polyetherimide market during the analysis period of 2022 to 2030 is 5.7%.
The prominent players of the global polyetherimide market are 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.
Asia-Pacific held the dominating polyetherimide market during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for polyetherimide market during the analysis period of 2022 to 2030.
Growing demands from the transportation industry, as well as advancements in hybrid and electric vehicles drives the growth of global polyetherimide market.
Based on form, sheets segment is expected to hold the maximum share of the polyetherimide market.