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Kenneth Research recently added a report on the Global Polyetherimide Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Polyetherimide Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Polyetherimide Market is valued approximately USD 308.3 million in 2018 and is anticipated to grow with a healthy growth rate of more than 3.8% over the forecast period 2019-2026. Polyetherimide can be defined as an amorphous thermoplastic polymer which has applications in various industry verticals such as automotive, electrical & electronics, aircrafts and many other industries. Polyetherimide is an important component in the manufacturing of various automotive components such as handles, bumpers and many others. The rising adoption of polyetherimide in aerospace and automotive industry is due to its high strength. The technological advancement in material development has resulted in the growing preference of polyetherimide and serves as a replacement of metal in various applications owing to its strength-to-weight ratio which tends to drive the market share of polyetherimide. The high-performance capability of polyetherimide has led to the rising demand in electronics sector. Advancement in semiconductor industry has forced the manufacturers towards new product development coupled with the integration of polyetherimide in various electronics applications such as semiconductors, aircraft antennas tends to drive the market share of polyetherimide. The ability of the polyetherimide to reduce the overall weight of the automotive components tends to foster the growth of the market. Moreover, stringent government regulations regarding the usage of Volatile Organic Compounds (VOCs) may surge the demand for polyetherimide owing to its low smoke emission and can withstand steam heat.
The regional analysis of Global Polyetherimide market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is expected to show significant growth over the forecast period due to presence of major automobile manufacturers increasing the demand of polyetherimide. Various organizations are adopting the strategy of merger and acquisition to expand the product portfolio and to extend geographical outreach. For instance, in February 2018, SABIC announced the launch of two production capacity in Asia and Netherland to increase the production of thermoplastic materials, ULTEM and NORYL.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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