The global polyetherimide market is expected to witness significant demand, as it is a high performance engineering thermoplastic owing to its high strength and rigidity at elevated temperatures. In addition, low smoke emission, flame resistance, creep resistance, and thermal conductive properties are expected to drive the growth of global market over the forecast period.
The polyetherimide (PEI) also has high dimensional stability and chemically resistant to alcohols, halogenated carbons, and hydrocarbons. Furthermore, it is used as an alternative for metals in electrical and electronics owing to its heat dissipation property. The aforementioned factors help them to generate up to 40 per cent more electricity than the unmovable panel, which is expected to boost the product growth.
The PEI market is segmented based on grade and application. Based on the grade the segment includes reinforced and unreinforced. The reinforced segment is anticipated to witness high growth on account of its usage in corrosion protection applications. Along with that, its high mechanical and electrical properties is further expected to boost the product demand.
On the basis of end-use industries, the global polyetherimide market is segmented in transportation, electrical & electronics, medical, consumer goods, industrial, and others. The transportation segment is the fastest growing market owing to its ability to replace bulk molding compounds, metal, and thermosets. The principal use of polyetherimide includes transmission components, bezels, ignition components, throttle bodies, and thermostat housing.
Asia Pacific is expected to dominate the global market on account of the robust base of the end-use industry. In addition, rising investment in industrialization, electronics, medical, and transportation sector in emerging economies such as China and India is further expected to supplement the growth of polyetherimide in the region.
Some of the key players in the global dual-axis solar tracker market include SABIC, Ensinger Plastics, RTP Company, Kuraray Group, Röchling Group, Toray Industries, Mitsubishi Chemical Advanced Materials, and Solvay SA.The key players have undertaken various initiatives such as technology innovations, research & development, partnerships, and merger & acquisitions.
The competitive rivalry among manufacturers of polyetherimide is high as the market is characterized by the presence of a large number of global and regional players. High processing and manufacturing costs are challenging the growth and profitability for the manufacturers across the globe. Other than the high production, cost, initial capital investment is anticipated to pose a challenge over the forecast period.
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