What is the Historic and Current Scenario of the Polybutylene Terephthalate (PBT) Market?
The polybutylene terephthalate (pbt) market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a notable expansion in the polybutylene terephthalate (PBT) market. This market is projected to increase from $2.5 billion in 2024 to $2.64 billion in 2025, recording a compound annual growth rate (CAGR) of 5.5%. The historical growth can be credited to factors such as its adoption in emerging sectors, global economic conditions, electric vehicle usage, consumer goods, and textile applications, along with improvements in material properties.
What Can Be Expected from the Polybutylene Terephthalate (PBT) Market?
The Polybutylene Terephthalate (PBT) market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of Polybutylene Terephthalate (PBT) is projected to witness a robust expansion in the coming years, reaching $3.4 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%.
Factors like the persistent emphasis on lightweight materials, worldwide economic fluctuations, the adoption of electric vehicles (EVs), consumer goods requirement, and market progress in the Asia-Pacific region are contributing to this anticipated growth for the forecast period. Key trends during this period encompass the demand in the automotive sector, electronics and electrical applications; the use of sustainable and recyclable materials, enhancements in material characteristics; and miniaturization in electronic devices.
What Are the Critical Driver Fuelling The Polybutylene Terephthalate (PBT) Market's Growth?
The rise in the automotive industry is anticipated to fuel the expansion of the polybutylene terephthalate market. This industry encompasses all businesses and operations associated with the production of motor vehicles, encompassing core components like engines and bodies. Polybutylene terephthalate offers strong durability under high thermal pressure and/or harsh chemical conditions, especially in automotive under-the-hood applications. For instance, in May 2023, the European Automobile Manufacturers Association, a Belgium-based car manufacturers association, reported that the worldwide production of motor vehicles hit 85.4 million units in 2022, indicating a significant growth of 5.7% from 2021. Moreover, in February 2022, according to statistics from Brand Finance PLC, a UK-based brand valuation firm, the automobile sector recorded a hefty sale of about 78 million units in 2022, a sizeable 10% hike. Hence, the escalating automotive industry propels the growth of the polybutylene terephthalate market.
How Is The Polybutylene Terephthalate (PBT) Market segmented?
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
Subsegments:
1) By Reinforced Polybutylene Terephthalate: Glass Fiber Reinforced PBT, Mineral Reinforced PBT, Other Reinforcements
2) By Unreinforced Polybutylene Terephthalate: Standard PBT, High-Purity PBT
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What New Trends Are Influencing The Polybutylene Terephthalate (PBT) Market?
The trend of product innovation is gaining momentum in the polybutylene terephthalate market, with major businesses in this market focusing on the creation of novel product solutions to enhance their market standing. For example, BASF, a chemical company based in Germany, launched a new product termed as PBT Ultradur B4335G3 HR HSP, in May 2022, posing as a reliable protection for sensitive electronics. The unique attributes of this product, including resistance to hydrolysis and reduced melt viscosity, alongside good flowability, allow for the manufacture of components with thin walls. The polybutylene terephthalate (PBT) Ultradur B4335G3 HR HSP developed by BASF is specifically designed to shield sensitive electronics from varying influences.
Who Are the Key Players In The Polybutylene Terephthalate (PBT) Market?
Major companies operating in the polybutylene terephthalate (PBT) market include:
• 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.
What Is The Most Dominant Region In The Polybutylene Terephthalate (PBT) Market?
Asia-Pacific was the largest region in the polybutylene terephthalate market in 2024. 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.
