The report "Polyetherimide (PEI) Market by Form (Film, Sheet, Granule, Tube, Rod), Grade (Reinforced, Unreinforced), Process Type (Injection Molding, Extrusion, Thermoforming, Compression Molding), End-use Industry, and Region - Global Forecast to 2024" The PEI market size is estimated to grow from USD 522 million in 2019 to USD 714 million by 2024, at a CAGR of 6.5% between 2019 and 2024. The increasing demand from the transportation sector, electrification of vehicles, and replacement of metals and specialty polymers with PEI in heat resistance applications are expected to drive the market.

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“The transportation end-use industry to witness the highest growth in the global PEI market during the forecast period.”

In the transportation segment, automotive is one of the largest end-use industries of PEI. The use of PEI has been increasing due to its ability to replace metal and other thermosets and bulk molding compounds. PEI is apt for applications that require high heat resistance, strength, and chemical resistance. The largest application of PEI in this segment is in the electrical and lighting systems, followed by under-the-hood applications.

With the rise of electric vehicles, reduction in weight, and increasing demand for fuel-efficient products, the automotive industry is undergoing a transition in terms of material substitution. Therefore the demand for specialty polymers is increasing. PEI is expected to

“The injection molding segment to boost the 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 is ideal for environments that include hot air and water, as it is hydrolytically stable, can be resistant to heat for a long period, and has excellent electrical properties. PEI processed through injection molding is used in applications such as medical devices, instrument trays, and electrical enclosures.

The key countries contributing to the growth of the PEI market in Europe are Germany, France, the UK, Italy, and Spain. Favorable government policies are expected to provide growth opportunities for R&D in the electronics & semiconductor and automotive industries in these countries. The growth in R&D investment in the region is mainly driven by the automotive, information and communications technology (ICT), and healthcare industries, which is expected to boost the demand for PEI in the region.

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