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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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).
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.
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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