BEIJING, Dec. 12 2022 (GLOBE NEWSWIRE) — The Global polyetherimide market The size accounted for USD 655 million in 2021 and is expected to reach a market size of USD 1,063 million by 2030, growing at a CAGR of 5.7% from 2022 to 2030.
Polyetherimide Market Statistics
- Global polyetherimide market revenue was USD 655 million in 2021 growing at a CAGR of 5.7% from 2022 to 2030
- Asia-Pacific accounted for 34.2% of polyetherimide market share in 2021
- North America polyetherimide market growth is expected to increase at a CAGR of 6.3% from 2022 to 2030
- By shape, the sheet metal segment captures more than 27.9% of the total market share in 2021
- Growing use in the aviation industry boosts the market value of polyetherimide
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Polyetherimide Market Coverage:
|polyetherimide market Size 2021||$655 million|
|polyetherimide market Forecast 2030||$1,063 million|
|polyetherimide market CAGR from 2022 to 2030||5.7%|
|polyetherimide market Analysis period||2018 – 2030|
|polyetherimide market base year||2021|
|polyetherimide market Forecast data||2022 – 2030|
|Segments Covered||By level, by form, by application and by geography|
|polyetherimide market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||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 cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Polyetherimide Market Overview
Polyetherimide has high elastic flexibility, is flame retardant, emits little smoke and has excellent hydrolytic stability. Due to the obvious stability of the product, the manufacturing range is wider than that of its counterpart. Federal programs based on solid research and innovation have encouraged the use of goods and have been accompanied by significant expenditures in technical progress.
Polyetherimide Market Trends
Rising number of favorable government laws, along with their widespread application in automotive and food industries are significant factors driving the global Polyetherimide (PEI) market value. Use of polyetherimide to reduce food contamination, reduction in overall car weight to reduce carbon emissions, and stringent regulatory measures such as FDA and European Union limiting VOCs will enhance the desire for market growth polyetherimide. In addition, the food sector is expected to expand dramatically. Due to staining and product durability issues, it is increasing the use in household appliances and kitchen utensils. In addition, food adulteration is likely to have a negative impact on consumer health. As a result, the FDA has declared products safe for additions to be used indirectly in foodstuffs. These reasons are expected to fuel the demand for the global polyetherimide market.
Fiberglass in the product segment is likely to dominate the global polyetherimide (PEI) market with the largest share and increase in the coming years. This expansion could be due to the focus of major polyetherimide producers on continued 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 enhance the sustainability of the polyetherimide industry.
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Segmentation of the polyetherimide market
The global polyetherimide market has been segmented by Acumen Research and Consulting on the basis of grade, form and application. By grade, the segment is separated into unreinforced and reinforced (fiberglass and carbon fiber). According to the polyetherimide market forecast, the reinforced category is expected to grow significantly in the coming years.
In terms of form, the market is categorized into integral film, sheet, tube, granule, and rod. Further, the market is divided into automotive (interiors, underhood components, bumpers and fuel systems), electronics (switches, coils and fuses and semiconductors), aerospace (antenna construction and interiors), pharmaceutical (surgical devices and probes), consumer products (kitchen utensils and appliances), industrial (oil and gas, telecommunications, fluid handling and marine cleats) and food products, depending on the application.
Regional Overview of Polyetherimide Market
Based on region, the global polyetherimide market segmentation is done into Asia-Pacific, Europe, North America, Middle East & Africa and Latin America. According to the current polyetherimide industry analysis, the Asia-Pacific region is expected to hold a major share of the global market, followed by Europe and North America. Its dominance in the Asia-Pacific region comes from its widespread use in the automotive sector for a wide range of applications such as dashboards and fenders due to its strength. In addition, population growth and rapid urbanization are important factors that will benefit the automotive sector. This aspect will promote the growth of polyetherimide (PEI) industry in Asia Pacific. Furthermore, increasing consumption by the medical industry brought about by increased consumer awareness of infectious conditions is the key factor driving the polyetherimide (PEI) industry in the Europe region. Latin America and the Middle East & Africa are expected to grow significantly over the projection period.
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Polyetherimide Market Players
The widespread use of fiberglass polyetherimide in the semiconductor market has attracted the attention of major players in the polyetherimide (PEI) market. Additionally, industry players are undertaking strategic priorities such as partnerships, collaborations, and acquisitions to increase their market position and enhance their presence in the global polyetherimide (PEI) market. These characteristics are expected to provide huge potential prospects for major industrial players in the global polyetherimide (PEI) market. Some of the key companies in the polyetherimide market 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 this report answers
- What was the market size of Polyetherimide Market in 2021?
- What will be the CAGR of the polyetherimide market during the forecast period, 2022 to 2030?
- Who are the key players in the global polyetherimide market?
- Which region held the largest polyetherimide market share in 2021?
- What are the key drivers of the polyetherimide market?
- Who is the largest end user of polyetherimide market?
- What will be the market value of polyetherimide in 2030?
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