Overview and Scope
Polybutylene terephthalate refers to a high molecular semicrystalline engineering thermoplastic and a powerful, extremely crystalline synthetic resin created by the polymerization of terephthalic acid with butanediol.
Sizing and Forecast
The polybutylene terephthalate (pbt) market size has grown strongly in recent years. It will grow from $2.38 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to adoption in new industries, global economic conditions, electrical vehicle adoption, consumer goods and textile applications, advancements in material properties..
The polybutylene terephthalate (pbt) market size is expected to see strong growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to continued focus on lightweight materials, global economic shifts, electrical vehicle (ev) adoption, consumer goods demand, market growth in asia-pacific region.. Major trends in the forecast period include demand in automotive industry, electronics and electrical applications, sustainable and recyclable materials, advancements in material properties, miniaturization in electronics..
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Segmentation & Regional Insights
The polybutylene terephthalate (pbt) market covered in this report is segmented –
1) By Type: Reinforced Polybutylene Terephthalate, Unreinforced Polybutylene Terephthalate
2) By Processing Method: Injection Molding, Extrusion, Blow Molding, Other Processing Methods
3) By End-User Industry: Automotive, Extrusion, Electrical And Electronics, Other End-User Industries
Asia-Pacific was the largest region in the polybutylene terephthalate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polybutylene terephthalate (pbt) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing automotive industry is expected to propel the growth of the polybutylene terephthalate market going forward. The automotive industry refers to all those companies and activities involved in the manufacturing of motor vehicles, including most components, such as engines and bodies. Polybutylene terephthalate provides good durability under thermal stress and/or harsh chemical environments, particularly in automotive under-the-hood applications. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the growing automotive industry drives the polybutylene terephthalate market.
Key Industry Players
Major companies operating in the polybutylene terephthalate (pbt) market report are Celanese Corporation, Evonik Industries AG, Saudi Basic Industries Corporation, BASF SE, Chang Chun Group, DuPont de Nemours Inc., Lanxess AG, Koninklijke DSM N.V., Nan Ya Plastics Corporation, Toray Industries Inc., Mitsubishi Chemical Holdings Corporation, Clariant AG, Daicel Corporation, LyondellBasell Industries Holdings B.V., Röchling SE & Co KG, RTP Company Inc., Duromer Products Pty. Ltd., Avient Corporation, Dow Inc., Polyplastics Co. Ltd., Teijin Limited, PolyOne Corporation, Lotte Chemical Corporation, E. I. du Pont de Nemours and Company, Polyram Plastic Industries, SK Chemicals Co. Ltd., WinTech Polymer Ltd., Polymeric Resources Corporation, Lion Idemitsu Composites Co. Ltd., Grupa Azoty S.A., Zhejiang NHU Special Materials Co. Ltd., KOLON Industries Inc., Jiangsu Heshili New Material Co. Ltd., Koch Industries, Kuraray Co. Ltd.
The polybutylene terephthalate (pbt) market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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