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Increased demand for heat-resistant plastics in the aerospace and electronics industries has bolstered Polyetherimide Market growth.

HYDERABAD, TELANGANA, INDIA, November 15, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Polyetherimide Market size is forecast to reach US$802.6 million by 2027, after growing at a CAGR of 6.4% during 2022-2027. Polyetherimide (PEI) is an amorphous thermoplastic with properties similar to polyether ether ketone (PEEK). The growing demand from the transportation industry is a major driver driving the market studied. For instance, as per the data by trade.gov, commercial vehicles sales in China touched 5.23 million units in 2020, increasing 20% from 2019. The material is used to make automobile interior parts such as handles, pistons, bezels, electromechanical devices, thermostat housings, and light sockets. Furthermore, an increasing need for environmental control and smoke emission reduction has propelled the market's growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Polyetherimide Market highlights the following areas -

1. The global polyetherimide industry has seen several technological advancements related to weight reduction, 3D printing, and carbon fibre technologies of polyetherimide products when compared to aluminium for manufacturing aircraft interior components. As a result, this has generated lucrative opportunities for polyetherimide producers to obtain a competitive edge in the international market.

2. The electrical and electronics segment held the largest share in 2021 in the global polyetherimide market. This can be attributed to polyetherimide's high thermo-oxidative stability, superior strength-to-weight ratio, and excellent mechanical strength.

3. In 2021, injection moulding dominated the polyetherimide market. Injection moulding is a method of making plastic items. In terms of size, application, and complexity, the injection moulding method is used to create a wide range of items. Injection-grade PEI is used in medical equipment, instrument trays, and electrical enclosures, among other things.

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Segmental Analysis:

1. Reinforced PEI dominated the polyetherimide market in 2021 and is growing at a CAGR of 6.7% during the forecast period. Reinforced PEI is designed to suit a variety of engineering requirements. It is divided into two categories: glass reinforced and fibre reinforced. While maintaining high processibility, glass reinforced PEI delivers greater dimensional stability and improved electrical and mechanical qualities.

2. Asia Pacific dominated the Polyetherimide market with a share of 34% in 2021 and is growing at a CAGR of 6.1% during the forecast period 2022-2027. The Indian electronics sector is one of the world's largest and fastest-growing. According to the data by India Brand Equity Foundation, the consumer electronics and appliance sector is projected to grow twice the current market size and is anticipated to become a market value of US$ 21.18 billion by 2025.

3. PEI sheet dominated the polyetherimide market in 2021. The qualities of sheets, which give superior thermal performance as well as high strength and stiffness, are responsible for the segment's growth. Its demand is also driven by its other characteristics, such as flame retardancy, acid resistance, and ease of operation in the presence of steam and hot water.

4. In 2021, electrical and electronics dominated the Polyetherimide market and are growing at a CAGR of 6.8% during the forecast period. Polyetherimide is employed in the electrical and electronics industries because of its features, which include a high strength-to-weight ratio, thermo-oxidative stability, superior mechanical strength, and high-temperature resistance. Electrical switches and controls, electrical motor parts, printed circuit boards, and connectors are all examples of where it is employed.

Competitive Landscape:

The top 5 players in the Polyetherimide Industry are -

1. SABIC.
2. RTP Company
3. Röchling Group
4. Mitsubishi Chemical Advanced Materials
5. Solvay SA

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. PMI Foam Market and Other High Performance Foam Core Market
https://www.industryarc.com/Report/16468/pmi-foam-high-performance-foam-core-market.html

B. Polyether Ether Ketone Market
https://www.industryarc.com/Report/16131/polyether-ether-ketone-market.html

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