Market Summary:
The Global Polyetherimide Market is expected to register a CAGR of 6.3% to reach a value of USD 820 million during the forecast period. Polyetherimide offers excellent chemical, thermal, and mechanical properties, which is fueling its demand in end-use industries such as automotive, electrical & electronics, and telecommunication.
Competitive Analysis:
The leading participants are making invests in research and development of innovative products to gain momentum in the global market. For instance, SABIC in April 2018 launched a basalt fiber filament, ULTEM AMHU1010F, with higher biocompatibility for the medical industry. Some of the key players operating in the polyetherimide market are Ensinger (India), SABIC (Saudi Arabia), Westlake Plastics Company (US), Aetna Plastics (US), Mitsubishi Chemical Advanced Materials (Japan), RTP Company (US), PolyOne Corporation (US), Aikolon Oy (Finland), Centroplast Engineering Plastics GmbH (Germany), Lehmann&Voss&Co. (Germany), and Röchling SE & Co. KG (Germany).
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Segment Analysis:
The Global Polyetherimide Market has been segmented based on Process, Type, Form End-Use Industry and Region.
Based on Process, the Global Polyetherimide Market has been divided into injection molding, blow molding, foam molding, and extrusion. The injection molding and blow molding segments are collectively expected to account for the largest share of the Global Polyetherimide Market during the forecast period. The injection molding is expected to be the fastest growing segment, and the growth is attributed to the increasing demand for injection-molded products having superior electrical and thermal properties in the electrical and electronics and telecommunication industries.
By Type, the Global Polyetherimide Market has been segregated into unreinforced and reinforced. The reinforced segment dominated the Global Polyetherimide Market in 2018. The demand for reinforced Polyetherimide is expected to increase significantly during the forecast period. The high mechanical strength and dimensional stability at elevated temperatures make it suitable for applications in the automotive, aerospace, and electrical & electronics industries. The reinforced segment is further divided into carbon fiber and fiberglass. The demand for fiberglass reinforced Polyetherimide is expected to increase in the electrical & electronics industry due to its electroplating and internal mold release properties.
Based on Form, the Global Polyetherimide Market has been categorized into sheets, rods, granules, and films. The demand for Polyetherimide sheets is expected to grow in the automotive and aerospace industries. Polyetherimide rods segment is expected to be the fastest growing due to the high demand in the medical industry.
On the Basis of End-Use Industry, the global market has been segmented into automotive, medical, food & beverage, aerospace, marine, telecommunication, electrical & electronics, and others. The automotive industry accounted for the largest share of the Global Polyetherimide Market, followed by the electrical & electronic industry. The demand for the product in the aerospace industry is expected to increase owing to the lightweight and flame retardant properties of Polyetherimide.
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Regional Analysis:
The Global Polyetherimide Market, by Region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific led by China, Japan, India, and South Korea dominated the global market in 2018. The region is expected to showcase significant growth during the forecast period owing to increasing manufacturing of automobiles. The growing urbanization and industrialization in the region will have a positive impact on the growth of end-use industries, and thus boost the growth of the regional market. The European market is expected to witness moderate growth led by Germany, France, the UK, and Italy, driven by the increasing demand for the product in the medical and automotive industries. North America is expected to be a prominent market for Polyetherimide owing to the increasing demand for the product in the oil & gas, aerospace, and automotive industries. The market in Latin America is expected to exhibit considerable growth during the review period due to the expanding end-use industries in the region. The Middle East & African market is expected to witness moderate growth during the forecast period.
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