The Global Polybutylene Terephthalate (PBT) Market is Projected to Reach 1.8 Million Metric Tons by 2024

Increasing Electronic Content in Automobiles & Development of New PBT Grades to Drive the Polybutylene Terephthalate Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Polybutylene Terephthalate (PBT) market. The global Polybutylene Terephthalate (PBT) market is projected to reach 1.8 million metric tons by 2024, driven mainly by the growing use of electronics in vehicles and appliances. The growth will also be fueled by the development of new generation PBT grades with superior performance characteristics and increased emphasis on bio-based PBT.

Polybutylene Terephthalate (PBT) is a saturated polyester derived from terephthalic acid, butanediol (BDO) and dimethyl terephthalate (DMT). PBT is characterized by unique properties such as semi-crystalline form, superior mechanical and electrical properties, high chemical resistance, exceptional insulation resistance as well as better dimensional stability compared to other materials. The compound is used in various applications by incorporating fillers, reinforcing materials, and additives, which are compounded based on the requirements of end-use application.

Demand for PBT is largely dependent on the growth trends in major end-use industries including automotive, electrical and electronics, and consumer appliances. The market stands to gain from increasing use of electronics in vehicles and home appliances, and the surge in fiber optic cable deployments. With consumers increasingly focused on comfort and safety, there is growing demand for PBT for use in automotive electrical system components as well as exterior and interior automotive parts. Also sustaining market growth is the increasing use of PBT thermoplastic polymers in electrical and electronic applications, as the material is resistant to solvents, shrinks slightly during formation, and is mechanically strong as well as highly heat resistant. Further, in the aerospace sector, the increasing use of PBT as a substitute for metal components bodes well for the PBT market over the coming years, since PBT usage assists in reducing component weight while also enhancing resistance to corrosion. The PBT market is also being favored by the increasing replacement of metals by engineering plastics, growth in electrical & electronics applications, and growth in emerging economies are expected to drive the PBT market. Increasing R&D efforts aimed at developing bio-based PBT, in line with the shift towards environment-friendly materials also augur well for the market.

As stated by the new market research report on Polybutylene Terephthalate (PBT), Asia-Pacific represents the largest market, worldwide. The region is also forecast to register the fastest CAGR of 7.4% over the analysis period. The growing demand for PBT in the region is attributed to its increasing use in diverse applications across several end-use industries, in particular electronic & electric and automotive industries in countries such as China, India, Singapore, Malaysia, Thailand and Korea. The consistent growth in manufacturing sector is expected to propel demand for PBT thermoplastic materials in the upcoming years. China represents the leading market for PBT driven by expanding production in automobile industry and electric and electronic industry.

Major players in the market include BASF SE, China National BlueStar (Group) Co Ltd., Covestro AG, Celanese Corporation, Chang Chun Group, Royal DSM N.V., DowDuPont Inc., Evonik Industries AG, Jiangsu Heshili New Material Co. Ltd., Lanxess AG, LG Chem Ltd., Nan Ya Plastics Corporation, Polyone Corporation, Polyplastics Co. Ltd., Radici Partecipazioni SpA, SABIC, Toray Industries Inc., and Yingkou Kanghui Petrochemical Co. Ltd., among others.

The research report titled “Polybutylene Terephthalate (PBT): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The Polybutylene Terephthalate (PBT) market is analyzed by the End-Use Applications – Automotive, Electronics/Electrical and Others.

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