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CHEMICALS AND ADVANCED MATERIALS

Polyetherimide Market Segmentation by Form (Sheet, Rod, Granule, and Film); by Grade (Reinforced, and Unreinforced); and by End User (Electrical & Electronics, Household Goods, Automotive, Aerospace, Medical, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Polyetherimide Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Polyetherimide Market Highlights 2022 – 2030

The global polyetherimide (PEI) market is estimated to garner a sizeable revenue by recording a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing demand for PEI from end user industries, and rising need for newer and faster electronic products. Along with these, rapidly growing automotive sector coupled with high utilization of PEI for manufacturing handles, bumpers, and automotive interior components, are also expected to drive the growth of the market in the upcoming years. In addition, surge in demand for heat resistant plastics is evaluated to lead the expansion of the market even further. Furthermore, escalating disposable income around the world and significant changes in the consumer pattern are projected to offer ample growth opportunities to the market in the near future. According to the World Bank, the adjusted net national per capita income of the world in 2018 was USD 9,427.278, which increased up to USD 9,483.844.

Global Polyetherimide Market

The market is segmented by end user into electrical & electronics, household goods, automotive, aerospace, medical, and others, out of which, the electrical & electronics segment is anticipated to hold the largest share in the global polyetherimide market. This can be accounted to the high thermo-oxidative stability, superior strength-to-weight ratio, and excellent mechanical strength of polyetherimide. Apart from these, increasing usage of PEI for manufacturing electrical motor parts, switches and controls, and printed circuit boards is also assessed to boost the growth of the market segment by the end of 2030. Additionally, on the basis of form, the segment for sheet is predicted to acquire the largest share over the forecast period owing to the increase in utilization of the product in industrial and aerospace applications as a result of its distinguished chemical stability, chemical resistance and low moisture absorption. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Refinery Catalyst

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Polyetherimide Market Regional Synopsis

On the basis of geographical analysis, the global polyetherimide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated gather the largest share and witness noteworthy growth over the forecast period on the back of the rising urbanization, and rapid population growth in the region. Another report by the World Bank suggests that the population of South Asia has only witnessed a hike since 1960. In 2020, the population of the region was 1.857 billion, up from 1.836 billion in 2019. Apart from these, surge in the growth of aircraft parts and assembly manufacturing sector across the globe is also anticipated to drive the region’s market growth in the future. Moreover, the market in Europe is also assessed to acquire a notable share during the forecast period, which can be credited to the high usage of the product in the region’s healthcare sector and escalating awareness regarding chronic diseases. 

Polyetherimide Market

The global polyetherimide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global polyetherimide market includes the following segments:

By Form

  • Sheet
  • Rod
  • Granule
  • Film

By Grade

  • Reinforced
  • Unreinforced

By End User

  • Electrical & Electronics
  • Household Goods
  • Automotive
  • Aerospace
  • Medical
  • Others

Growth Drivers

  • Increasing Demand for PEI from End User Industries
  • Rising Need for Newer and Faster Electronic Products

Challenges

  • High Manufacturing Cost of Polyetherimide

Top Featured Companies Dominating the Market

  • Solvay SA
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • RTP Company
  • Kuraray Europe GmbH
  • Röchling Group
  • Ensinger Plastics Pvt. Ltd.
  • 3M Company
  • Mitsubishi Chemical Advanced Materials AG
  • Toray Advanced Composites
  • Honeywell International Inc.
  • SABIC

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