Global Polyetherimide Market to Expand at 6% CAGR During 2023-2035
Shanghai Tinchak Import & Export Co., Ltd. is an enterprise specializing in the import, export and distribution of plastic raw materials. As per a recent market report from the firm, the global polyetherimide (PEI) market is expected to reach new heights during the forecast period of 2023-2035. The growth rate has been estimated at a CAGR of 6%.
PEI is a highly valued engineering thermoplastic with exceptional chemical resistance, excellent mechanical properties and good electrical insulation characteristics over a wide temperature range. It offers superior thermal stability under high temperatures as well as being flame retardant and self-extinguishing making it suitable for many applications such as medical devices, automotive components and aerospace parts. PEI also provides excellent wear resistance which makes it ideal for use in pumps and valves which are subject to frequent wear cycles due to their continuous duty cycle operations.
The primary drivers behind this projected growth include increasing demand from end user industries such as electronics & semiconductor industry, automotive industry, healthcare sector etc; growing usage of PEI based composites; rising investments in research & innovation activities in PEI material development; rapid advancements in technologies related to 3D printing; stringent safety regulations that require fire resistant plastics; increase in focus on lightweight materials across various industries etc.. With these factors driving its adoption further upscaling efforts can be seen among major manufacturers towards production capacity expansion or product portfolio enhancement or both simultaneously so they will reap greater benefits post COVID 19 pandemic situation normalization phase when the demand increases significantly again.
On the other hand there are certain restraints that may limit future growth prospects such as higher cost compared to other conventional thermoplastics used for similar applications like Nylon 66/6 (PA66), Acrylonitrile Butadiene Styrene (ABS) etc.; difficulty with machining process owing its low melting point ; lack of awareness about advanced features offered by PEIs among potential customers etc.. In order stimulate further investments OEMs should take more initiatives towards educating consumers about these advantages associated with usage of this particular polymer .
To sum up , global polyetherimide market is anticipated witness considerable surge during 2023-2035 due mainly attributable to factors mentioned above coupled with increasing utilization across numerous application segments including but not limited electronics & semiconductor industry , automotive industry , healthcare sector etc.. Shanghai Tinchak Import & Export Co., Ltd expects penetration rates into virgin markets will also rise steadily within this time frame given appropriate promotional strategies combined with effective cost reduction measures taken by players operating within this space
Post time: Mar-02-2023