Polyetherimide (PEI) Market worth $714 million by 2024, at a CAGR of 6.5%

Polyetherimide (PEI) Market worth $714 million by 2024, at a CAGR of 6.5%
Browse 161 market data Tables and 40 Figures spread through 150 Pages and in-depth TOC on "Polyetherimide (PEI) Market"
Polyetherimide (PEI) Market by Form (Film, Sheet, Granule, Tube, Rod), Grade (Reinforced, Unreinforced), Process Type (Injection Molding, Extrusion, Thermoforming, Compression Molding), End-use Industry, and Region

The market for Polyetherimide (PEI) is projected to grow from USD 522 million in 2019 to USD 714 million by 2024, at a CAGR of 6.5%. PEI is a high-performance polymer with both ether links and imide groups in its polymer chain. It is used in high-temperature applications where fast dissipation of heat is essential. Due to its creep resistance, low smoke emission, and flame resistance, the demand for PEI as a thermally conductive plastic has increased significantly. PEI, along with thermally conductive fillers, is a cost-effective solution to metals due to lesser manufacturing steps and joints. PEI is widely used as an alternative to metals in compact electronic gadgets, as it increases the performance of compact electronics by heat dissipation. In addition to the electronics industry, PEI is used in transportation, medical, consumer good, and industrial end-use industries.

Browse 161 market data Tables and 40 Figures spread through 150 Pages and in-depth TOC on "Polyetherimide (PEI) Market"

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“The transportation end-use industry to witness the highest growth in the global PEI market”

In the transportation segment, automotive is one of the largest end-use industries of PEI. The use of PEI has been increasing due to its ability to replace metal and other thermosets and bulk molding compounds. PEI is apt for applications that require high heat resistance, strength, and chemical resistance. The largest application of PEI in this segment is in the electrical and lighting systems, followed by under-the-hood applications.

With the rise of electric vehicles, reduction in weight, and increasing demand for fuel-efficient products, the automotive industry is undergoing a transition in terms of material substitution. Therefore the demand for specialty polymers is increasing. PEI is expected to play a key role in this transition of plastics replacing metals in the automotive industry, which is expected to drive the market during the forecast period.

“The injection molding segment to boost the market”

Injection molding is a manufacturing process used for the fabrication of plastic parts. Different varieties of products, in terms of size, application, and complexity, are manufactured using the injection molding process. This process requires an injection molding machine, raw plastic material, and a mold. The process includes melting of the plastic in the injection molding machine and then injecting it into the mold where plastic solidifies into the final product. PEI is ideal for environments that include hot air and water, as it is hydrolytically stable, can be resistant to heat for a long period, and has excellent electrical properties. PEI processed through injection molding is used in applications such as medical devices, instrument trays, and electrical enclosures.

The key countries contributing to the growth of the PEI market in Europe are Germany, France, the UK, Italy, and Spain. Favorable government policies are expected to provide growth opportunities for R&D in the electronics & semiconductor and automotive industries in these countries. The growth in R&D investment in the region is mainly driven by the automotive, information and communications technology (ICT), and healthcare industries, which is expected to boost the demand for PEI in the region.

The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), Röchling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay SA (Belgium), (Denmark), and Toray Industries (Japan).

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