APAC is projected to be the largest market for Polyetherimide (PEI) Market

The PEI market size is estimated to grow from USD 522 million in 2019 to USD 714 million by 2024, at a CAGR of 6.5% between 2019 and 2024. The increasing demand from the transportation sector, electrification of vehicles, and replacement of metals and specialty polymers with PEI in heat resistance applications are expected to drive the market.

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APAC is projected to be the largest polyetherimide (PEI) 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. The increasing population and growing industrialization are also driving the polyetherimide (PEI) market in China, along with the growing export of different consumer electronics products by China to various European and North American countries.

Key Questions Addressed by the Study

• What are the global demand trends for PEI? Will the market witness an increase or decline in demand in the coming years?
• What is the estimated demand for PEI? Which type is used the most in end-use industries?
• What were the revenue pockets for the polyetherimide (PEI) market in 2018?

The use of PEI has been increasing due to its ability to replace metal and other thermosets and bulk molding compounds. PEI is apt for applications that require high heat resistance, strength, and chemical resistance. The largest application of PEI in this segment is in the electrical and lighting systems, followed by under-the-hood applications.

With the rise of electric vehicles, reduction in weight, and increasing demand for fuel-efficient products, the automotive industry is undergoing a transition in terms of material substitution. Therefore the demand for specialty polymers is increasing. PEI is expected to play a key role in this transition of plastics replacing metals in the automotive industry, which is expected to drive the market.

The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), Röchling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay SA (Belgium), (Denmark), and Toray Industries (Japan).