Polyetherimide Market to Grow with a CAGR of 5.25% through 2028
Growing demand of polyetherimide in food industry is expected to drive
the Global Polyetherimide Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Polyetherimide
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Polyetherimide Market stood at USD 578.56
million in 2022 and is anticipated to grow with a CAGR of 5.25% in the forecast
period, 2023-2028. The initiatives taken by government based on Polyetherimide has
led to favorable market conditions for the Global Polyetherimide Market.
Several factors contribute to the growth of various Polyetherimide products. Strict
government policies and regulations have played a crucial role in shaping and
fostering the growth of the PEI market. These well-defined regulations
primarily focus on ensuring safety standards and minimizing environmental
impacts, thus fueling the demand for high-performance materials like PEI. With
its remarkable combination of ductile strength, low smoke emission, and flame
resistance, PEI has emerged as a preferred choice in various industries.
Governments
across different regions are actively encouraging the adoption of PEI products
through targeted initiatives and incentives. By highlighting the exceptional
properties and advantages of PEI, these efforts are driving the market growth
and motivating industries to leverage the benefits offered by this versatile
material. As a result, PEI continues to gain traction and establish itself as a
reliable and sustainable solution in a wide range of applications.
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market data Figures spread through XX Pages and an in-depth TOC on "Global
Polyetherimide Market”
Polyetherimide
(PEI) finds diverse and growing applications in the food industry. Its
exceptional heat resistance and chemical stability make it an excellent choice
for various food processing equipment and machinery. For instance, PEI is
widely used in conveyor parts, filling systems, and sensor housings, ensuring
optimal performance and durability.
Furthermore,
PEI's compliance with FDA regulations and its ability to withstand repeated
sterilization cycles without significant degradation have led to its increased
usage in reusable food and beverage containers as well as utensils. This not
only promotes sustainability but also ensures the safety and hygiene of
food-related products.
In addition, the
rising demand for microwave-safe cookware and bakeware has further fueled the
use of PEI. These products require materials that can withstand high
temperatures without warping or releasing harmful substances, and PEI perfectly
fits the bill. Its exceptional thermal stability and mechanical strength make
it an ideal choice for ensuring the longevity and safety of microwave-safe food
preparation items.With its versatility, reliability, and compliance with
stringent industry standards, PEI continues to play a crucial role in enhancing
food processing, storage, and preparation processes, contributing to the
overall efficiency and safety of the food industry.
Global Polyetherimide
Market is segmented into form, process type, application, regional
distribution, and company
Based on its process type, the injection molding segment
held the largest share in the market. Plastic parts are commonly manufactured
using the highly versatile technique called injection molding. This method
allows for the creation of a wide range of items, catering to various sizes, uses,
and complexities. To carry out the injection molding process, three key
components are required: an injection molding machine, unprocessed plastic
material, and a specifically designed mold.
When it comes to choosing the right material for
situations involving hot air and water, Polyetherimide (PEI) stands out. Not
only does PEI exhibit excellent electrical qualities, but it also demonstrates
hydrolytic stability and remarkable heat resistance over prolonged periods.
These exceptional properties make PEI the perfect material choice for
applications where durability and performance in high-temperature environments
are crucial.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. The Global Polyetherimide (PEI) Market in China is
experiencing a significant boost due to the combination of increasing
population and developing industrialization. Additionally, China's export of
diverse consumer electronics items to various European and North American
countries is further contributing to the market growth.Moreover, the regional
market is expected to witness continuous expansion as a result of the rising
focus on research and innovation, along with the soaring demand for specialty
polymers in the industrial sector. This demand is driven by the need for
advanced materials that offer high-performance properties and can withstand
extreme conditions.
With these factors in play, the Global Polyetherimide
(PEI) Market in China is poised for sustained growth and presents lucrative
opportunities for both local and international players in the industry.
Major companies operating in Global Polyetherimide
Market are:
- Aikolon Oy
- Eagle Performance Plastics Inc.
- Emco Industrial Plastics Inc.
- Ensinger Inc.
- Kuraray Europe GmbH
- Mitsubishi Chemical Advanced Materials
AG
- PlastiComp Inc.
- RTP Company
- SABIC
- Solvay SA
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“Growing application of Polyetherimide in various end
user industries are key drivers of the Polyetherimide market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Polyetherimide with every
passing year are anticipated to register an impressive growth to Global
Polyetherimide Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Polyetherimide Market By Form
(Film, Sheet, Granule, Tube, Rod), By Process Type (Injection Molding,
Extrusion, Thermoforming, Compression Molding), By Application (Automotive,
Aerospace, Electronics, Pharmaceutical, Industrial, Consumer, Food, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Polyetherimide Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Polyetherimide Market.
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