Polybutylene Terephthalate (PBT) Market (CAGR of 6.91%) 2030: Global Industry Size, Share, Trends, Analysis Report | ChemAnalyst
According to ChemAnalyst report, “Polybutylene Terephthalate (PBT) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, Polybutylene Terephthalate (PBT) market has shown considerable growth in historic period and is anticipated to achieve an impressive CAGR of 6.91% during the forecast period until 2030. Increasing number of innovations to synthesize biobased Polybutylene Terephthalate (PBT) coupled with its rising preference in electrical and electronic industry due to its properties like high heat resistance and dimensional stability is likely to drive the PBT market in the upcoming years. Emerging economies are adopting eco-friendly materials and increased research & development are positively impacting the demand of PBT through 2030. The production of Polybutylene Terephthalate is associated with safety concerns on human health as well as environment before it can be further manufactured and introduced in the market.
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Polybutylene Terephthalate (PBT) is a crystalline thermoplastic elastomer with a high molecular weight produced by the polymerization of butanediol and terephthalic acid. PBT exhibits versatile properties including high heat and chemical resistance along with higher tensile, flexural and dielectric strengths and faster, economical molding characteristics. They are the second most important commercial polyester widely used as insulators in electrical and electronics industries. PBT find its applications in electronics, automotive, construction, textiles, consumer goods and other industries. It is extensively used in interior and exterior parts of the automotive as windshield wiper covers, cowl vents, mirror housings, handles, fans, fuel system components, connectors, sensor housings, etc.
Due to its excellent properties, the demand of PBT is rapidly increasing in order to replace bronze, stainless steel, cast iron, and ceramics in the automotive industry which is further propelling the demand of PBT worldwide. Other properties of PBT including corrosion and wear-resistance, make it a considerable choice for the manufacturing of various components in the electrical and electronic industry. The automotive industry accounts for the largest share of PBT as it is highly used in the manufacturing of numerous automotive parts. Whereas Electric and electronic industry holds the second largest consuming segment due to the ideal electrical and chemical properties offered by PBT. Leading players are merging with new acquisitions to introduce new ideas and innovations in order to expand their business and improve their market footprint, globally. For example, two new products were launched by BASF named Ultradur B6560 M2 FCTF and Ultradur B6551 LNI with provides high dimensional stability and high melting point. The innovation of these new products is expected to augment the company’s foothold in the PBT market worldwide.
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In 2020, as the consequence of COVID-19, Global Polybutylene Terephthalate (PBT) market was negatively impacted during the pandemic. Due to government restrictions and nationwide lockdowns, many end-user industries temporarily halted their operations and production due to disruptions in the global supply chain. However, with the gradual reopening of lockdowns the PBT market is all set to boost the market due to its high demand in automotive, medical and electronic and electrical industry.
Region wise, Asia Pacific region holds the largest consumption share in the global PBT market and is expected to maintain its dominance during the forecast period owing to the rapid expansion of electrical and electronic industry. China happens to be the leading market for Polybutylene Terephthalate due to high consumer demand along with the large number of end use industries. North America followed by Europe is expected to augment the Global PBT industry as the initiatives for next generation 5G plans are increasing thus, providing opportunity to manufacture electrical and electronic components in bulk quantities.
According to ChemAnalyst report, “Polybutylene Terephthalate (PBT) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, some of the major players operating in global Polybutylene Terephthalate (PBT) market include DuPont, BASF SE, Spichem, Toray Industries, Evonik Industries, Royal DSM N.V, SABIC, Lanxess AG, Celanese Corporation, Polyone Corporation, Chang Chun Group, Mitsubishi Engineering Plastic Corporation, Nan Ya Plastic Corporation and Others.
“Being linked to the downstream applications in automotive, electronic and electrical industry and others, the Global Polybutylene Terephthalate (PBT) industry has shown significant growth in previous years and is anticipated to achieve an impressive CAGR during the forecast period until 2030 along with increased macro-economic factors and ever-changing consumer preference. It is expected that India will be one of the world’s biggest consumers in the upcoming years. In addition, growing per capita income in various countries poised a stronger outlook to the country’s Polybutylene Terephthalate (PBT) demand. The governments restrictions due to the novel virus affected the global supply chain logistics and caused the shortage of feedstock chemicals thereby increasing the prices of Polybutylene Terephthalate (PBT). With new competitors emerging across the Asian Polybutylene Terephthalate (PBT) market, it is extremely important to keep a focus on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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