Market Summary:
The Global Polyetherimide Market is expected to exhibit a CAGR of ~6.3% during the forecast period and is projected to reach a value of ~USD 820 million by the end of 2024. The demand for the product in Asia-Pacific is expected to grow at a significant rate during the forecast period owing to the growth of end-use industries such as automotive, electrical & electronics, and telecommunication. The growing demand for lightweight, advanced materials in the automotive industry have increased the demand for Polyetherimide in developed as well as developing economies such as the US, UK, Germany, India, China, and Japan, which is expected to propel the growth of the Global Polyetherimide Market during the forecast period.
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Key Players:
Some of the Key Players Operating in the Polyetherimide Market are Aetna Plastics (US), SABIC (Saudi Arabia), Westlake Plastics Company (US), PolyOne Corporation (US), Ensinger (India), Röchling SE & Co. KG (Germany), RTP Company (US), Centroplast Engineering Plastics GmbH (Germany), Lehmann&Voss&Co. (Germany), Aikolon Oy (Finland), and Mitsubishi Chemical Advanced Materials (Japan).
Segmentation:
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 categorized into injection molding, blow molding, foam molding, and extrusion. Injection molded polyetherimide is expected to dominate the global market by the end of the forecast period.
Based on Type, the Global Polyetherimide Market has been categorized into unreinforced and reinforced. The reinforced segment is expected to hold largest share in the global market in 2018 and is further segregated into carbon fiber and fiberglass.
Based on 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. Automotive industry to lead the Polyetherimide Market in terms of consumption followed by the electrical & electronics industry.
Regional Analysis:
Geographically, the Global Polyetherimide Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest share of the Global Polyetherimide Market in 2017 and is expected to witness significant growth during the forecast period. The global manufacturing base of automotive, aerospace, and other industries are shifting from mature markets to the developing countries such as India, China, and ASEAN countries, this trend is expected to increase the application of Polyetherimide.
The European Polyetherimide Market is expected to witness healthy growth during the forecast period due to the growing automotive industry as well as demand for lightweight materials to reduce carbon emissions. Furthermore, healthy growth of the medical industry in Europe is expected to further boost the demand for Polyetherimide for application in re-usable and disposable medical devices and for medical monitor probe housing. The North American market is expected to be another prominent market for Polyetherimide. The expanding oil & gas industry and increasing investment in shale gas exploration in the US with the increasing demand for petroleum products are driving the growth of Polyetherimide Market in North America. The Latin American Market is expected to create lucrative growth opportunities owing to the expanding automotive, aerospace, and electrical & electronic industries in Brazil, Mexico, and Argentina. The market in the Middle East & Africa is likely to witness moderate growth during the forecast period.
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