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The polyetherimide (PEI) marketplace is a scene which is depicted as energetic and diverse with the nature forces that define the environment. A PI material has got a spectacular performance due to its high thermal and mechanical properties. And the demand for this PI is quite high. One the drivers that ensure that the certain market dynamics are running smoothly is the imposition of the growing demand from the automobile industry where polyester imide is applied as a component inbuilt in parts requiring high heat resistance and mechanical strength. PEI recomendation for replacing other metals in different automotive applications is favored among automotive manufacturers, while lightening their body weight and therefore increasing fuel efficiency.
In the way to say, the electronics and electric industry are the top representatives of the Maldives economy having the ability to influence market dynamics. Having been brought up in an era of downsizing and computers with high-end embedded systems as a common component, Peeky claims to have become the material of choice for the manufacture of connectors, insulators and other components that are signature in these types of devices. The intrinsic flameproofing and electrical insulating characteristics of the PEI, on the other hand, comes in handy for such purposes, making PEI eligible for application in the fast-evolving electronic sector.
In addition, global environmental problems and regulatory initiatives have widespread impact on the PEI market towards product choices. When it comes to material selections, a lot of industries in the world adopt a more eco-friendly and sustainable practice. It is, therefore, becoming more important for manufacturers to ensure that such green materials address the needs of performance and environmental concerns. The PEI resin’s recyclable ability as well as its resistance to stress cracking under environmental conditions matches up with these goals leading to increased attention from eco-friendly industry players.
At the end, crops' cultivation and location influence market dynamics that determine these distribution of products over the geographical regions that are pondered on by consumers. Asia-Pacific and China – most prominent economies of the region- what springs to mind is a role-player in the sharpening of PEI industry. Other than this, the rapid expansion of P.E.I's highly productive manufacturing base, which has mostly been carried out in the automotive and electronic industries as well as oil services, sees the region's levels of demand for PEI surge. Furthermore, the strong regional middle class could be a background driver for the sale of various consumer goods, and the markets dynamics can be influenced as well.
Conversely, PEI market doesn’t exempt from facing the similar challenges. The fact that prices of raw materials, which are often linked to the processes of petrochemical industry, varies significantly means that the stability of market is threatened. In addition a COVID-19 pandemic has paralysed supply chains and caused halted some production activities thereby bringing PEI market to tentative brakes. Players of the industry can successfully handle these challenges by means of adaptations and implementation of extra strategic measures which will fully determine how market dynamics should evolve.
Polyetherimide Market Highlights:
Polyetherimide Market Overview
The global polyetherimide market is estimated to reach over USD 870 million by the end of 2028, registering a CAGR of 7%. The major factors driving the Polyetherimide Market are the increasing demand for the electronics and electrical departments. A periodic developmental factor has been declared about the development and growth of the market considering the CAGR period. The properties of the Polyetherimide are what drive the major factors, owing to its properties like mechanical strength, temperature resistance, and thermo-oxidative properties. The usage of the same has become easier by the day due to the installation of faster and newer technological advancements like connectors, motor parts, and printed circuit boards. The advancement in the technology has made it quite accessible for the electronic department to increase in size and lead the market industry. This is exactly why there is a substantial growth that has been seen and expected for the Polyetherimide Market during the forecast period.
List of Key Players in the Polyetherimide Market are
Some of the key players operating in the polyetherimide market are SABIC (Saudi Arabia), Ensinger (India), Aetna Plastics (US), Westlake Plastics Company (US), Mitsubishi Chemical Advanced Materials (Japan), RTP Company (US), Centroplast Engineering Plastics GmbH (Germany), Röchling SE & Co. KG (Germany), PolyOne Corporation (US), Lehmann&Voss&Co. (Germany), Aikolon Oy (Finland), and others
Global Polyetherimide Market Share, By End-Use Industry, 2018 (%) Â
Source: MRFR Analysis
Regional Analysis
The global polyetherimide market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia-Pacific dominated the global polyetherimide market in 2018, on account of robust manufacturing output in the region, particularly from China, India, and ASEAN countries. India is expected to witness healthy growth in terms of demand for polyetherimide, owing to rapid industrialization and growth of the automotive industry in the country. The North American and European markets are expected to account for significant shares of the global polyetherimide market. Increasing investment in shale gas production in the US is expected to foster the demand for polyetherimide during the forecast period. The demand for polyetherimide is projected to increase significantly in the end-use industries in Europe and North America such as automotive and aerospace, owing to high adoption of lightweight composite materials. The Middle East & African market is projected to witness relatively moderate growth during the forecast period. Latin America is expected to be an opportunistic regional market for polyetherimide owing to recovering economic conditions in Brazil and Argentina. Furthermore, increasing investments in end-use industries such as automotive, aerospace, and electrical & electronics industry is expected to further propel the growth of the regional market during the forecast period.
Segmentation Analysis
The global polyetherimide market has been segmented based on process, type, form end-use industry, and region.
On the basis of process, the global polyetherimide market has been categorized into injection molding, blow molding, foam molding, and extrusion.
On the basis of type, the global polyetherimide market has been categorized into unreinforced and reinforced. The reinforced segment is further segregated into carbon fiber and fiberglass.
On the basis of form, the global polyetherimide market has been categorized into sheets, rods, granules, and films.
By end-use industry, the global polyetherimide market has been divided into automotive, medical, food & beverage, aerospace, marine, telecommunication, electrical & electronics, and others.
The global polyetherimide market, by region, has been segregated into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
Recent Development
In February 2018,
One of the leading petrochemical firms, SABIC, declared its collaborations with expanding its food production and segmentation in Singapore. This new launch in the country shall be able to be contribute to the global production by 50%. This simultaneously helps to increase the Polyetherimide production in the region by a deck.
Other companies like RTP Company had also launched their own manufacturing facilities, having collaborated with Wroclaw in Poland and other states in India. This also led to an increased production in the market in the European as well as Asian countries.
Target Audience
- Manufactures of polyetherimide
- Traders and distributors of polyetherimide
- Research institute/education institute
- Potential investors
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