Market Summary
The global market for polyetherimide 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.
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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.
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).
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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