New York, NY -- (SBWire) -- 11/01/2018 --Global Polyetherimide Materials Market Introduction
Polyetherimide materials exhibit high heat stability at elevated temperatures and, therefore, are used as engineering materials. They are high-performance engineering materials that offer high strength, good electrical properties and dimensional stability at high temperatures. Polyetherimide materials also have good melt processing and good hydrolytic stability, owing to the presence of an ether group. The properties of polyetherimide materials can be altered by reinforcing them with materials such as glass and glass fibers.
Polyetherimide materials finds a wide range of applications in aerospace and automotive industries, which include aircraft structural parts, automotive structural parts and industrial machinery and equipment parts. They are also used in various electronics and electrical parts. These materials are largely preferred in aerospace and automotive industries, owing to their toughness, cleanness and transparency.
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Polyetherimide Materials Market Drivers
The rapid growth of the automotive industry has created an upsurge in demand for polyetherimide materials used in the manufacturing of automotive transmission components, bezels, ignition components, lamp sockets, throttle bodies, electromechanical systems and thermostat housings. Strong growth in the electrical and electronics market, with the increasing use of high performance plastics in the industry, is projected to support the demand for polyetherimide materials over the forecast period.
The increasing demand for heat-resistant plastics from electrical and electronics applications and the increasing disposable income in developing countries are propelling the growth of the market. The rise in aircraft deliveries highlights the growth of the aerospace industry, which is also driving the demand for matrix composite materials. This expected to boost the demand for polyetherimide materials from structural applications in the aerospace and automotive industry.
Polyetherimide Materials Market Restraints
One of the major challenges faced by the global polyetherimide materials market is the high cost of these materials. At present, a few large players are predominant in the market scenario. The large players can rip out the benefits of economies of scale and therefore, make the entry of small players difficult.
Additionally, the presence of various alternative materials including lightweight metals and other polymers and plastics can deter the growth of the market to some extent. Environmental regulations that mandate the recycling of plastics are also restraining the growth of the the polyetherimide materials market.
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Polyetherimide Materials Market Trends
Automotive manufacturers are focusing on using lightweight materials for the manufacturing of components. Polyetherimide materials are preferred in the manufacturing of various automotive and automotive electronic components. The rise in the automotive industry in emerging economies is therefore pushing the demand for polyetherimide materials.
Strong growth in the global electrical and electronics market is propelling the demand for polyetherimide materials from various applications such as electrical motor parts, electrical switches, printed circuit boards, electrical controls and connectors.
Global Polyetherimide Materials Market: Regional Outlook
Automotive manufacturers are shifting from mature regions to emerging countries such as India and China. The global polyetherimide materials market is anticipated to be dominated by the Asia Pacific region with China leading the market in terms of both production and consumption. India is also anticipated to witness sound growth in the demand for polyetherimide materials, owing to the rapid growth in the automotive industry in the country.
North America and Europe are collectively anticipated to hold a significant share in the polyetherimide materials market and the growth in the aerospace industry in the region is anticipated to further drive the demand in the coming years. Significant investments and economic recovery in Brazil and Argentina are projected to drive the Latin America polyetherimide materials market. The Middle East and Africa region is projected to witness moderate growth in the demand for polyetherimide materials over the forecast period, due to the initiatives being taken by various Middle East countries towards diversifying their economies.
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Global Polyetherimide Materials Market: Market Participants
Examples of some of the market participants identified across the value chain of the global polyetherimide materials market are: SABIC,Aikolon Oy,Emco Industrial Plastics,Quadrant Group of Companies,Westlake Plastics Company,Ensinger,Regal Plastics,Nationwide Plastics, Inc.,Total Plastics, Int'l,Eagle Performance Plastics, Inc.,RTP Company,Aetna Plastics Corp,SpecialChem
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
Polyetherimide Materials Market to Expand Substantially Owing to Technological Innovations During 2018 to 2028