Polyetherimide (PEI) Market worth 4 million by 2024 | At a CAGR of 6.5%
Posted by Robin White on July 8th, 2019
Polyetherimide is a high-performance polymer with both ether links and imide groups in its polymer chain. It is used in high-temperature applications where fast dissipation of heat is essential. Due to its creep resistance, low smoke emission, and flame resistance, the demand for PEI as a thermally conductive plastic has increased significantly. PEI, along with thermally conductive fillers, is a cost-effective solution to metals due to lesser manufacturing steps and joints. PEI is widely used as an alternative to metals in compact electronic gadgets, as it increases the performance of compact electronics by heat dissipation. In addition to the electronics industry, PEI is used in transportation, medical, consumer good, and industrial end-use industries. The global Polyetherimide market is estimated to grow from USD 522 million in 2019 to USD 714 million by 2024, at a CAGR of 6.5% during the forecast period.
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PEI is used in manufacturing various interior and exterior components in the automotive and aerospace industries. The important properties of PEI are its high heat resistance, lightweight, high dimensional stability, and high chemical resistance. In the aerospace industry, it is important to use materials that are fire retardant and emit less smoke and toxic gases in case of fire. PEI fulfills these requirements, resulting in its high demand in the aerospace industry.
Fiber reinforced PEI is a strong, lightweight material used in the manufacturing of numerous products. Although it does not absorb water, fiber reinforced PEI is resistant to several chemical solutions and can withstand extreme conditions without getting corroded. Fiber reinforced PEI has a lower expansion rate and higher compressive strength and stiffness as compared to glass reinforced PEI. Reinforced PEI also has higher thermal conductivity than unreinforced PEI, which improves the service life of a component. These properties of reinforced PEI is driving the market in different end-use industries.
Injection molding is projected to be the fastest-growing process type segment of the PEI market. PEI is used in applications such as medical and electronics due to its strength and rigidity. This amber, high-performance polymer also provides properties such as dimensional stability and chemical resistance. PEI is ideal for environments that include hot air and water, as it is hydrolytically stable, can be resistant to heat for an extended period, and has excellent electrical properties. PEI processed through injection molding is used in applications such as medical devices, instrument trays, and electrical enclosures.
PEI sheet is projected to be the fastest-growing form. It is resistant to UV radiation even in unreinforced grade and offers properties such as high dielectric constant, making it an excellent electrical insulator. The general application of PEI sheet includes electrical switchgear, connectors, microwave cookware, under bonnet components, non-combustible plenum connectors, jet engine components, printed wiring boards, aircraft interiors, and electrical hardware components.
APAC is projected to be the fastest-growing PEI market during the forecast period. According to the IMF, the growth in APAC will remain robust, with the GDP growth rate estimated at 5.1% in 2019. There is an increase in the consumption of PEI in various applications due to continued industrialization and growth in the transportation, electronics, and medical sectors of the region. In addition, growing innovation & development and the rising demand for specialty polymers in the industrial sector are driving the use of PEI.
