DUBLIN--(BUSINESS WIRE)--The "Polyetherimide (PEI) Market by Form (Film, Sheet, Granule, Tube, Rod), Grade (Reinforced, Unreinforced), Process Type (Injection Molding, Extrusion, Thermoforming, Compression Molding), End-use Industry, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The market size of PEI was just over USD 493 million in 2018 and is projected to grow at a CAGR of 6.5% between 2019 and 2024.
The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), Rochling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay (Belgium), and Toray Industries (Japan).
Increasing demand from the transportation sector is expected to drive the global PEI market during the forecast period
An increase in demand in the transportation industry because of the ability of PEI to withstand high temperatures for longer duration without losing their structural integrity and strength has led to its increasing use in the automotive and aerospace industries.
The transportation end-use industry segment is projected to register the highest CAGR in the global PEI market during the forecast period
PEI offers more advantages over metal, and hence several automotive manufacturers are replacing metal parts in the vehicle with a lighter and more economical material. Several vehicle parts including front-end modules, beams, brackets, airbag container, pedal, and seat components have been replaced with PEI, as it has higher heat resistance and better oil resistance. Thereby increasing engine efficiency and reducing vehicle weight due to less consumption of energy.
Some of the important applications of PEI in the automotive industry include thermostat housing, bezel ignition components, reflectors, lamp sockets, electromechanical systems (gears, solenoid bodies, oil pump devices, ignition switches, fuses, transmission components), and throttle bodies.
The injection molding segment is projected to register the highest CAGR in the global PEI market during the forecast period
Injection molding is a manufacturing process used for the fabrication of plastic parts. Different varieties of products, in terms of size, application, and complexity, are manufactured using the injection molding process. This process requires an injection molding machine, raw plastic material, and a mold.
The process includes the melting of the plastic in the injection molding machine and then injecting it into the mold where plastic solidifies into the final product. PEI processed through injection molding is majorly used in medical and electrical applications due to its strength and rigidity and hence driving the PEI market.
The sheet segment is expected to register the highest CAGR in the global PEI market during the forecast period
PEI sheet is made of amorphous PEI that is commonly used as high-performance plastic material. This sheet provides good thermal performance as well as high strength & stiffness. PEI sheet is flame retardant, resistant to acids, and can be operated in the presence of steam and hot water.
PEI provides high heat resistance, high strength modulus, and good electrical & insulation properties. PEI sheet has low moisture absorption and excellent dimensional stability in a variety of environments. It is internally lubricated by carbon fiber for good friction and wear characteristics.
APAC is projected to record the highest growth rate during the forecast period
APAC is expected to the fastest-growing market during the forecast period. There is an increase in the consumption of PEI in various applications due to continued industrialization and growth in the transportation, electronics, and medical sectors of the region.
In addition, growing innovation & development and the rising demand for specialty polymers in the industrial sector are driving the use of PEI.
Market Dynamics
Drivers
- Increasing Demand from the Transportation Sector
- Consumption of PEI Over Metals and Other Conventional Polymers
- Electrification of Vehicles
- Growth in Emerging Economies
Restraints
- Lower Thermal Conductivity than Traditional Materials
- Increasing Competition from Hybrid Polymers & Composites
Opportunities
- Emerging Applications of PEI
Challenges
- Higher Price than that of Conventional Polymers
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 PEI Market, By Grade
7 PEI Market, By Process Type
8 PEI Market, By Form
9 PEI Market, By End-Use Industry
10 PEI Market, By Region
11 Competitive Landscape
12 Company Profiles
- Ensinger Plastics
- Kuraray Europe
- Mitsubishi Chemical Advanced Materials
- Polymer Industries
- Rochling Group
- RTP Company
- SABIC
-
Solvay
- Toray Industries
For more information about this report visit https://www.researchandmarkets.com/r/41g10v
