Polyetherimide (PEI) Market

Polyetherimide (PEI) Market Size-(2023-2028)

Polyetherimide (PEI) Market is expected to grow at a CAGR of 9% in the period between 2023-2028.

This growth is attributed to the rise in the demand for cost-effective and high-performance materials and stringent government regulations globally.  

Drivers and Restraints of the Polyetherimide (PEI) Market:

The stringent policies regarding the environment have made it difficult for plastics and opened doors for the growth of the Polyetherimide (PEI) market across the world. The ease of handling of non-utilized plastic material is also a driving factor. These materials prove to be an excellent substitute for the metals in electronic gadgets. The usage of Polyetherimide (PEI) in aerospace, and wind energy turbines is growing and these options often come cheap as compared to their counterparts that help in the growth of the industry. The demand for lightweight material is also increasing in Europe which allows growth opportunities for Polyetherimide (PEI) market.

Challenges in the Polyetherimide (PEI) Market:

Polyetherimide (PEI) market industry is affected by the volatile price and alternatives. The European region is one of the largest markets of Polyetherimide (PEI) market but the Asian Pacific region is growing the fastest and more growth can be expected in the Asia Pacific region.

The mechanical strength of Polyetherimide (PEI) is a major drawback and thus hinders the growth of the industry.

POLYETHERIMIDE (PEI) MARKET REPORT COVERAGE:

Market Segmentation:

On the basis of Form:

• Film

• Sheet

• Granule

• Tube

• Rod

On the basis of Grade:

• Reinforced

• Unreinforced

On the basis of Type:

• Injection Molding

• Extrusion

• Thermoforming

• Compression Molding

On the basis of End-use:

• Transportation

• Electrical & Electronics

• Consumer Goods

• Medical

• Industrial

In terms of value, the reinforced Polyetherimide (PEI) segment dominated the market in 2019. This material offers high-performance properties such as high strength and modulus, low density, dimensional stability, low thermal expansion, and high conductivity. In addition to this, it also offers cost-saving benefits.

On the basis of the process, the injection molding process is expected to show the highest growth rate in the forecasted period of 2020 to 2025. Different products are manufactured based on their size and complexities through the injection molding process. PEI is best suited in environments that include hot air and water. It is also heat resistant for a longer duration as compared to other materials.

The consumer goods industry is showing tremendous growth and especially in the European region triggering high demands for lightweight and rigid materials. In this scenario, the Polyetherimide (PEI) market comes in handy as it solves both problems at an affordable price.

The automotive & transportation end-use industry maintains its firm presence in the global Polyetherimide (PEI) market. Polyetherimide (PEI) is extensively used in the automotive & transportation industry owing to its low weight and high tensile strength properties. The stringent government regulations related to the use of environment-friendly materials and low carbon emissions have added impetus to the demand from automotive & transportation OEMs. Polyetherimide (PEI) is utilized in various parts such as chassis panels, floors, roof panels, spare wheel wells, and boot or bonnet inners, among others in automotive parts. All these features of carbon fibers attract the various end-use industries, thus accelerating growth.

On the basis of Region:

• North America

• Europe

• Asia Pacific 

• Latin America 

• Middle East and Africa 

Asia-Pacific is the largest market for the Polyetherimide (PEI) market industry thanks to the huge investments in the Transportation sector. Several key players in Europe have made investments in research and development activities in order to improve the quality of the material. Another factor is that the European regulations are forcing OEMs to reduce the emissions of CO2 by the vehicles and further regulations are expected towards the fuel products in the coming years.

Europe is the second largest market for Polyetherimide (PEI)s. The market in this region is expected to grow at a CAGR of 8% during the forecasted period of 2020 to 2025.

Recent Developments In Polyetherimide (PEI) Market Industry:

• Toray is set to supply Carbon fiber composite material for the all-electric air vehicle of Lilium. The Munich-based company will be able to deliver clean regional air mobility by 2025.

• SABIC launched a new polyetherimide (PEI) film named ULTEM film UTF120. This product is focused on the increasing need for high-energy-density capacitors that can store huge amounts of electrical energy for long durations with minimal loss of energy. UTF120 has usage in the electrical & electronics end-use industry. Some of the applications of the product include automotive components, electrical compressors, and LED lighting.

Key players operating in the global Polyetherimide (PEI) market are

• Toray Industries.
• Hexcel Corporations
• Solvay
• RTP Company
• SABIC

Polyetherimide (PEI) Market - Impact of covid-19 pandemic

Europe was the early hotspot for the virus in early 2020 and it had a severe impact on major European economies as most of them were shut. A similar trend was followed in North America and Asia and as a consequence, it has negatively affected the demand for Polyetherimide (PEI) across various end-use industries such as automotive, consumer goods, industrial, transportation, and several such industries. The disruption in the supply chain resulted in delays or non-availability of raw materials, disrupted financial flows, and declining morale among production line workers have forced various aircraft and automobile manufacturers to operate at reduced or sometimes at zero capacities. This has resulted in a reduction in demand for Polyetherimide (PEI). However, the demand from the packaging industry increased in this period which led to more production of Polyetherimide (PEI). The market is expected to recover from 2021 onwards.