SELBYVILLE, Del., Feb. 25, 2019 /PRNewswire/ -- The Polyetherimide (PEI) Market is set to rise from USD 560 million in 2018 to around USD 800 million by 2025, according to a 2019 Global Market Insights, Inc. report. Growing awareness for manufacturing safe products and changing environmental regulations would propel polyetherimide market growth. PEI emits less smoke when it is exposed to open flame owing to which its demand has increased in several industries including automotive, electrical & electronics, and aerospace.
Global polyetherimide industry size from electronics application is anticipated to exceed USD 165 million in the forecast timeline. Its properties including high deformation resistance, self-extinguishing, low flammability & outgassing finds its applications to manufacture electronic and electrical insulators. Rapid developments including Internet of Things and artificial intelligence will foster product demand.
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The product due to its high strength and dimensional stability is used in building applications. Global construction industry is estimated to grow at 4.5% by 2023 due to escalating economic growth in India and China. This will enhance polyetherimide industry growth.
U.S. polyetherimide market size may register significant gains over 5% by 2025. PEI is utilized in petroleum operations as it is thermal and chemical resistant. Rising shale gas production in the country will foster PEI demand.
High raw material & processing costs and limited color ability of PEI as compared to its substitutes might impact the market profitability. Strict government regulations regarding plastics usage might also hamper industry growth.
Browse key industry insights spread across 950 pages with 1681 market data tables & 21 figures & charts from the report, "Polyetherimide (PEI) Market Size By Grade (Unreinforced, Reinforced [Glass Fibre, Carbon Fibre]),By Form (Sheet, Rod, Granule, Film), By Application (Automotive [Under hood components, Automotive Interior, Fuel systems, Bumper], Aerospace [Interiors, Antenna Construction], Electronics [Semi-Conductors, Switches, Coils & Fuses], Pharmaceutical [Surgical Probes, Fixtures], Industrial [Fluid Handling, Oil & Gas, Telecom & Communication, Marine Cleats], Consumer [Appliances, Kitchenware], Food), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, Morocco, Iran, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
Global carbon fiber reinforced polyetherimide industry size may witness significant gains over 5% up to 2025. The product is utilized to manufacture aircraft components including aileron ribs due to its increased strength and stiffness. Global commercial aircraft industry is estimated to grow at 2.5% by 2025 owing to rising air travel affluence hence, fostering PEI demand.
China polyetherimide market size may witness significant over 5.5% at the end of 2025. The product being food contact acceptable and chemical resistant is widely utilized in kitchenware and appliances. Growing consumer awareness and standard of living in the country will promote PEI demand.
Global PEI market size from granule form is anticipated to surpass USD 450 million by 2025. The product being eco-compliant and fit for food contact applications is utilized in food & beverage packaging industry. Global packaged food industry is estimated to grow at 4.5% by 2020 due to rising demand of ready-to-cook foodstuff. This factor will enhance the industry growth.
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Global polyetherimide industry size from automotive application is anticipated to surpass USD 290 million by 2025. Growing PEI demand in automotive components including gears, interiors, bumpers, and fuel systems owing to its low cost and light weight as compared to metals including aluminum will foster PEI demand.
Polyetherimide market is moderately consolidated with key industry participants including RTP Company, Mitsubishi Chemical, Nationwide Plastics, Centroplast Engineering, and Röchling Group, SABIC. Manufacturers are making heavy investments in R&D, product innovation and capacity expansion in order to cater increasing market growth.
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