Polyetherimide Market Gains Traction with 3D Printing Technology as Asia and Latin America Emerge as Lucrative Pockets
Global polyetherimide (PEI) market is expected to grow stronger as compared to its historical period on the back of continuous developments in manufacturing processes of polyetherimide to increase global production capacities.
The global polyetherimide industry has witnessed several technological advancements related to weight reduction, 3D printing and carbon fiber technologies of polyetherimide products as compared to aluminum for manufacturing aircraft interior components.
As a result, this has created lucrative opportunities for polyetherimide manufacturers to gain a competitive advantage in the global market.
Furthermore, increasing customer demand of polyetherimide for additive manufacturing processes across emerging economies of Asia and Latin America is anticipated to create potential growth avenues in during the foreseeable period.
Fact.MR, a leading research firm, opines that the global polyetherimide (PEI) market is expected to grow at a CAGR of over 7% over the forecast period (2019-2027) to reach a valuation of ~US$ 870 Mn by 2027. Furthermore, reinforced polyetherimide will drive the global polyetherimide industry and account for ~45% market share in 2018. It is expected to grow 1.8x faster during the forecast period.
Demand of Polyetherimide in Medical Applications on a Strong Growth Trajectory of 6%
High performance plastics such as polyetherimide are gaining massive traction in several end use industries including automotive, aerospace, medical, and others owing to its high potential properties. In the past, automotive and aerospace sectors have dominated the overall demand in global polyetherimide (PEI) market with a market share of around 60%.
However, recent developments in medical grade of polyetherimide have shifted the focus of manufacturers towards utilizing the untapped opportunities in this sector.
Furthermore, application of polyetherimide sheets, rods, and films to provide exceptional fire resistance and high strength is likely to support the strong growth rate of polyetherimide in the medical sector. This is expected to amplify the overall demand of polyetherimide industry across the developed as well as developing economies and medical sector is projected to witness a growth rate of ~6% over the forecast period
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Investments and Expansions to Remain Critical for Sharper Profit Margins
The global market for polyetherimide is expected to remain oligopolistic where SABIC, a leading manufacturer of polyetherimide resins supplies more than 1/3rd of the global demand in polyetherimide industry.
In addition, other top 10 players account for around 25% of the global polyetherimide market. Investment opportunities are rife for utilizing waste material of polyetherimide and this is anticipated to open a plethora of market opportunities for key manufacturers as well as new entrants to increase their operating margin in global polyetherimide industry over the forecast period.
Furthermore, increasing demand for high performance plastics has also pushed the manufacturers to expand their production capacities for polyetherimide to cater to the needs of customers. Some of the notable developments in the global polyetherimide industry are-
- In February 2018, the leading petrochemical company, SABIC has announced the expansion of its production footprint of polyetherimide segment in Singapore to reduce the supply demand gap in Asian countries. Also the company has stated that the new facility in Singapore will be operational from 2021 and is likely to increase the global production capacity of SABIC by 50%.
- Other competitors in the global polyetherimide market such as RTP Company and The Rochling Group have also announced the expansion of their manufacturing facilities in Wroclaw (Poland) and Vadodara (India) respectively to support the high demand of polyetherimide in Europe and Asian Countries.
Global Polyetherimide Market: In-Depth Assessment on Key Segments
The global polyetherimide market is segmented on the basis of form, grade, process, end use industry and region.
|End Use Industry||
Country-specific assessment on demand for polyetherimide has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous polyetherimide manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Polyetherimide (PEI) Market – Scope of the Report
The following report provides forecast and analysis of the global Polyetherimide market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global polyetherimide market along with several macro-economic indicators.
This newly published and insightful report on polyetherimide sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global polyetherimide market.
The report also comprises the study of current issues with end users and opportunities for polyetherimide. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of polyetherimide manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the polyetherimide market provided in the report adds to the credibility of this exhaustive research study.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the polyetherimide market are SABIC, RTP Company, Mitsubishi Chemical Holdings, Ensinger GmbH, and others.
Global Polyetherimide Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered have been validated using the triangulation method to offer useful quantitative and qualitative insights into the polyetherimide market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the polyetherimide market, which includes global GDP growth rate, various industries growth rate, such as automotive, aerospace, electrical & electronics, medical and others.
This report serves as an authentic resource of intelligence on the polyetherimide market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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