The global polybutylene terephthalate market was valued US$ 50.11 Bn in 2019 and is expected to reach US$ 68.74 Bn by 2027, at a CAGR of X.5% during a forecast period. Utilization of polybutylene terephthalate in automotive industry has developed 35% market and expected to show constant growth.
Global Polybutylene Terephthalate Market
Polybutylene terephthalate are defined as thermoplastic polymers that is semi-crystalline in nature which delivers certain property like sustainability, high robustness, and stability at high temperatures. It is abbreviated as PBT which belongs to the polyester family. PBT is synthesised by polycondensation of terephthalic acid using 1, 4–butanediol.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Drivers and Restraints:
High thermal stability is increasing demand for polybutylene terephthalate market. Growth in end-user industries like medical, electronics and household industries are documented as major growth factor contributing for markets popularity in commercial sector and hence, expected to show constant growth during the forecast year. One of the excellent properties of polybutylene terephthalate is its outstanding mechanical and electrical properties which play important role in numerous growing end-users. It permits operative usage in lessening weight and cost of materials. Mechanical property of the material includes high strength, stiffness, toughness, and together with numerous applications. It similarly offers admirable stain resistance and machining properties.
The stated qualities of PBT consequences in its widespread application in several emerging industries supporting the growth of the targeted market. Additionally, advance in the locomotive subdivision and related uplifting request for frivolous automobiles is another factor to lift the market demand in the coming years.
Moreover, the availability of prominent substitute in raw material with high product cost due to complex process is expected to hinder the market. Government initiative for limited use of plastic will hamper the market demand.
Polybutylene Terephthalate Market Segment analysis:
In terms of application, automotive sector has enumerated the major polybutylene terephthalate application segment in 2019 and industries are observing development in the automotive industries which is expected to last over the next seven years because of huge adoption in transportation and commercial sector. Polybutylene terephthalates plays very essential role in the automotive sector as it distributes characteristics like chemical stability, resistance towards extreme temperature and environmental condition which is attracting the vendors to invest in the market helping the segment to grow in terms of value and volume.
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In motorized and other transport amenities, where PBT permits weight reduction, restriction of explosion risks in fuel tanks, shock absorption for bumpers, seat belts, energy absorption, subsystems, airbags, bumpers, door and seat assemblies, under-bonnet components, exterior trim, and numerous other applications.
Escalation in the demand for the electrical automotive and subdivision like electric system which includes handles, mirror, fans, windshield wiper covers, sensor housings, switches, connectors, actuators, motor components and others is expected to increase the demand for polybutylene terephthalate over the estimated growing years.
Polybutylene Terephthalate Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the polybutylene terephthalate market and is expected to grow at a CAGR of XX % during the forecast period. Developing regions like India, China, and Japan are considered the major contributors for the polybutylene terephthalate market growth in the Asia Pacific region. Technological development and significant growth in numerous end-user industries including electrical and electronics, automotive, household and other industries in emerging economies like India, Vietnam, Indonesia and China. In 2019 market size was valued US$ XX Bn while in China, market size was valued US$ XX Bn and expected to increase by US$ XX Bn in the coming years.
The objective of the report is to present a comprehensive analysis of the Global Polybutylene Terephthalate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Polybutylene Terephthalate Market dynamics, structure by analysing the market segments and project the Global Polybutylene Terephthalate Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Polybutylene Terephthalate Market make the report investor’s guide.
Scope of Polybutylene Terephthalate Market
Global Polybutylene Terephthalate Market, By Type
• PBT compound
• PBT resin
Global Polybutylene Terephthalate Market, By Applications
• Electrical & Electronics
• Extrusion Products
• Household Appliances
Global Polybutylene Terephthalate Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Polybutylene Terephthalate Market,
• MTSUBISHI CHEMICAL
• Changchun Group
• LG Chemical
• Nan Ya
• A.Schulman Inc
• Chang Chun Plastics Co. Ltd
• Celanese Corporation
• China National Bluestar Co. Ltd
• Mitsubishi Engineering Plastics Corporation
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