“Increasing demand from the transportation sector is expected to drive the global PEI market during the forecast period.”
The PEI market size is estimated at USD 522 million in 2019 and is projected to reach USD 714 million by 2024, at a CAGR of 6.5% between 2019 and 2024. Increase in demand in the transportation industry because of the ability of PEI to withstand high temperatures for longer duration without losing their structural integrity and strength has led to its increasing use in the automotive and aerospace industries.
“The transportation end-use industry segment is projected to register the highest CAGR in the global PEI market during the forecast period.”
PEI offers more advantages over metal, and hence several automotive manufacturers are replacing metal parts in the vehicle with a lighter and more economical material. Several vehicle parts including front-end modules, beams, brackets, airbag container, pedal, and seat components have been replaced with PEI, as it has higher heat resistance and better oil resistance. Thereby increasing the engine efficiency and reducing the vehicle weight due to less consumption of energy. Some of the important applications of PEI in the automotive industry include thermostat housing, bezels ignition components, reflectors, lamp sockets, electromechanical systems (gears, solenoid bodies, oil pump devices, ignition switches, fuses, transmission components), and throttle bodies.
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“The injection molding segment is projected to register the highest CAGR in the global PEI market during the forecast period.”
Injection molding is a manufacturing process used for the fabrication of plastic parts. Different varieties of products, in terms of size, application, and complexity, are manufactured using the injection molding process. This process requires an injection molding machine, raw plastic material, and a mold. The process includes melting of the plastic in the injection molding machine and then injecting it into the mold where plastic solidifies into the final product. PEI processed through injection molding is majorly used in medical and electrical applications due to its strength and rigidity and hence driving the PEI market.
“The sheet segment is expected to register the highest CAGR in the global PEI market during the forecast period.”
PEI sheet is made of amorphous PEI that is commonly used as high-performance plastic material. This sheet provides good thermal performance as well as high strength & stiffness. PEI sheet is flame retardant, resistant to acids, and can be operated in the presence of steam and hot water. PEI provides high heat resistance, high strength modulus, and good electrical & insulation properties. PEI sheet has low moisture absorption and excellent dimensional stability in a variety of environments. It is internally lubricated by carbon fiber for good friction and wear characteristics.
“APAC is projected to record the highest growth rate during the forecast period.”
APAC is expected to the fastest-growing market during the forecast period. 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.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and information gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type - Tier 1 – 50%, Tier 2 – 20%, and Tier 3 – 30%
- By Designation - C level – 30%, Director level – 20%, and Others – 50%
- By Region - North America – 10%, Europe – 10%, APAC – 70%, Rest of the World – 10%
The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), R?chling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay SA (Belgium), and Toray Industries (Japan).
- This research report categorizes the global PEI market on the basis of form, grade, process type, end-use industry, and region.
- The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities.
- Detailed analysis of the key market players provides insights into business overviews, services, key strategies, and recent developments associated with the market.
Reasons To Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global PEI market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business.
- The competitive landscape section includes expansions, acquisitions, and new product developments.