What's driving the Polyetherimide Market growth? RTP Company, Mitsubishi Chemical, Nationwide Plastics, Centroplast Engineering, and Röchling Group, SABIC
Among the application sectors of PEI, the most prominent one is the automobile industry. The product’s favorable properties make it ideal for manufacturing different automobile components. That said, PEI’s impressive long-term creep resistance, which prevents it from moving out of place or completely deforming under different types of mechanical stresses, also makes it a must-have thermoplastic in the automobile manufacturing domain, further augmenting the overall growth of the PEI market in coming years.
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Polyetherimide Market size is set to surpass USD 800 million by 2025; according to a new research report by Global Market Insights, Inc.
While the automobile industry is a prominent market place for Polyetherimide Market, the additive manufacturing (AM) industry is also a rather vital avenue that brings the high-performance amorphous polymer to several industrial sectors. The global additive manufacturing industry is an extremely powerful nerve center that is rapidly changing the way enterprises are manufacturing parts & products for various industries.
According to the United Parcel Service & the Consumer Technology Association, the 3D printing industry is poised to garner substantial remuneration by year 2020 due to the ability of the technology to manufacture extremely complex geometries. These are rather difficult and sometimes impossible to achieve through conventional manufacturing methods, making AM a significantly more distinguished mass-production method in different industries.
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Moreover, strongly contributing to its capability of easily producing complex geometries is the fact that AM significantly eliminates the additional costs that are associated with producing complex components. This cost-effectiveness coupled with the powerful manufacturing capabilities make PEI-based components exceedingly more approachable across the industrial domain, ranging from the automobile and consumer electronics to the demanding aerospace industry.
Furthermore, Polyetherimide Market ability to withstand a number of different chemicals such as fully halogenated hydrocarbons, automotive fluids, aqueous solutions & alcohols further allow automotive & aerospace enterprises to effectively utilize AM to easily create complex internal components. This would in consequence, further expedite the global PEI market share from additive manufacturing applications.
There once was a time when plastics were just considered cheaper alternatives for producing non-critical automotive components and were relegated to make vehicles lighter & more affordable by replacing materials previously used for aesthetics. However, significant advancements in the industry have completely upended that notion, with these materials now being considered on-par with different metals in a majority of cases. Moreover, with metal-to-plastic conversion gaining mass acceptance, wherein metal automotive parts such as gears, bumpers, interiors, as well as fuel systems are being replaced with components made out of Injection molded plastics, thermoplastics like PEI have successfully established a unique application niche for themselves in the automotive industry.
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It is rather discernible that the global Polyetherimide Market would gain momentum across myriad geographies in the years ahead, given the product’s highly favorable properties and its subsequently widespread application spectrum. In fact, according to a Global Market Insights, Inc., report the overall polyetherimide (PEI) market size is projected to surpass the $800 million renumeration mark by 2025.
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