The Polybutylene Terephthalate (PBT) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Polybutylene Terephthalate (PBT) Global Market Report 2024, 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.
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.
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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
Product innovations are the key trends gaining popularity in the polybutylene terephthalate market. Major companies operating in the polybutylene terephthalate market are focused on developing new product solutions to strengthen their position in the market. For instance, in May 2022, BASF, a Germany-based chemicals company launched PBT Ultradur® B4335G3 HR HSP – an all-rounder for reliable protection. With the polybutylene terephthalate (PBT) Ultradur® B4335G3 HR HSP, BASF has developed a material that would protect sensitive electronics from such influences. This product has unique properties such as hydrolysis resistance, good flowability, and reduce melt viscosity, which enables the production of thin-walled components.
The polybutylene terephthalate (pbt) market report table of contents includes:
1. Executive Summary
2. Polybutylene Terephthalate (PBT) Market Characteristics
3. Polybutylene Terephthalate (PBT) Market Trends And Strategies
4. Polybutylene Terephthalate (PBT) Market – Macro Economic Scenario
5. Global Polybutylene Terephthalate (PBT) Market Size and Growth
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31. Global Polybutylene Terephthalate (PBT) Market Competitive Benchmarking
32. Global Polybutylene Terephthalate (PBT) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polybutylene Terephthalate (PBT) Market
34. Polybutylene Terephthalate (PBT) Market Future Outlook and Potential Analysis
35. Appendix
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