NEW
YORK, June 27, 2024 /PRNewswire/ -- The
global polybutylene terephthalate market size is
estimated to grow by USD 736.3
million from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of 5.29% during the
forecast period. Increasing demand for polybutylene terephthalate
in automotive industry is driving market growth, with a
trend towards increasing capacity expansion by market vendors.
However, fluctuating crude oil prices poses a challenge.
Key market players include BASF SE, Celanese Corp., Chang Chun
Group, China Petrochemical Corp., Daicel Corp., DuPont de Nemours
Inc., Kingfa SCI. And TECH. Co. Ltd., Kolon Industries Inc.,
Lanxess AG, LG Chem Ltd., LyondellBasell Industries N.V.,
Mitsubishi Chemical Corp., Mitsui and Co. Ltd., Radici
Partecipazioni Spa, RTP Co., S.S.B. POLYMERS and S.S.B.
ENTERPRISES, Samyang Corp., Saudi Basic Industries Corp., Sinochem
Group Co. Ltd., and Toray Industries Inc..
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Polybutylene
Terephthalate Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.29%
|
Market growth
2024-2028
|
USD 736.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.93
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 56%
|
Key
countries
|
China, US, Germany,
India, and UK
|
Key companies
profiled
|
BASF SE, Celanese
Corp., Chang Chun Group, China Petrochemical Corp., Daicel Corp.,
DuPont de Nemours Inc., Kingfa SCI. And TECH. Co. Ltd., Kolon
Industries Inc., Lanxess AG, LG Chem Ltd., LyondellBasell
Industries N.V., Mitsubishi Chemical Corp., Mitsui and Co. Ltd.,
Radici Partecipazioni Spa, RTP Co., S.S.B. POLYMERS and S.S.B.
ENTERPRISES, Samyang Corp., Saudi Basic Industries Corp., Sinochem
Group Co. Ltd., and Toray Industries Inc.
|
Market Driver
The global polybutylene terephthalate market is experiencing
significant growth due to increasing demands from the automotive
and electrical and electronics industries. Vendors, including
Lanxess and BASF, are responding by expanding production
capacities. Lanxess is building a second line in China, while BASF is increasing production by
5,000 metric tons per year in Malaysia. These expansions will help maintain
market positions and positively impact the market throughout the
forecast period.
The Polybutylene Terephthalate (PBT) market is experiencing
significant growth due to its versatile applications in various
industries. Consumers are increasingly seeking out PBT's unique
properties, such as its high strength, excellent electrical
insulation, and resistance to chemicals and moisture. PBT is
commonly used in the automotive industry for producing engine and
transmission parts, as well as electrical connectors. In the
consumer electronics sector, PBT is utilized in the production of
mobile phone components and computer housings. Additionally, PBT's
durability and resistance to temperature changes make it an ideal
choice for use in the construction industry for producing pipes and
fittings. The market for PBT is expected to continue growing,
driven by increasing demand from these industries and the
material's superior performance compared to traditional materials.
Moreover, the use of PBT in the production of sustainable and
eco-friendly products is also on the rise, making it a trending
choice for companies looking to reduce their carbon footprint.
Overall, the future looks bright for the Polybutylene Terephthalate
market.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- The global Polybutylene Terephthalate (PBT) market growth is
influenced by fluctuating crude oil prices. The increase in oil
prices results in higher raw material costs due to the derivation
of PBT's key components from crude oil and natural gas. This trend
has led industries, particularly automotive, consumer goods, and
medical, to seek eco-friendly alternatives. Geopolitical issues,
such as the Russian invasion of Ukraine, further exacerbate oil price
volatility, directly impacting PBT production costs and market
expansion during the forecast period.
- The Polybutylene Terephthalate (PBT) market faces several
challenges. Terpthalic and butylene monomers are essential for PBT
production. However, their availability and price volatility pose a
significant challenge. The market also faces competition from other
polymers like Polyethylene Terephthalate (PET) and Polypropylene
(PP). The recycling of PBT is another challenge due to its complex
structure. The use of PBT in automotive and electrical applications
increases its demand, but the high cost and availability issues
persist. The market requires sustainable solutions to address these
challenges and ensure its growth. The industry must focus on
improving production efficiency, reducing costs, and enhancing the
recyclability of PBT to remain competitive.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This polybutylene terephthalate market report extensively covers
market segmentation by
- Application
- 1.1 Electrical and electronics
- 1.2 Automotive
- 1.3 Household appliances
- 1.4 Extrusion products
- Type
- 2.1 Industrial grade
- 2.2 Commercial grade
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Electrical and electronics- The Polybutylene
Terephthalate (PBT) market is experiencing steady growth due to its
versatile applications in various industries. PBT is widely used in
automotive, electrical and electronics, and consumer goods sectors.
Its unique properties, such as high durability, excellent
electrical insulation, and resistance to heat and chemicals, make
it a preferred choice for manufacturers. The market is driven by
increasing demand for lightweight and durable materials in
automotive and consumer goods industries. Additionally, the growing
trend towards sustainable manufacturing and recycling of PBT is
expected to further boost the market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Polybutylene Terephthalate (PBT) market encompasses the
global production and consumption of engineered plastics,
specifically PBT, in various industries. Key applications include
automobile parts, such as coil cases for electric vehicles, and
consumer electronics. PBT is a thermoplastic polyester resin
derived from Terephthalic acid and butanediol. Its unique
properties, including high heat resistance and excellent electrical
insulation, make it an ideal choice for these applications. The
manufacturing process for PBT involves techniques like injection
molding, extrusion, and blow molding, resulting in various
extrusion products. The global PBT market is driven by the growth
in vehicle production and the increasing demand for electric
vehicles. The automotive market and consumer electronics sectors
are the primary consumers of PBT, contributing significantly to its
industry overview. Engineered plastics, including PBT, are
increasingly replacing traditional materials due to their superior
properties and cost-effectiveness.
Market Research Overview
The Polybutylene Terephthalate (PBT) market refers to the global
trade of PBT, a type of engineering thermoplastic. PBT is known for
its excellent electrical insulation properties, high heat
resistance, and good chemical resistance. It is widely used in
various industries, including automotive, electrical and
electronics, and consumer goods. The production process of PBT
involves the polycondensation of terephthalic acid and
1,4-butanediol. The global PBT market is expected to grow
significantly due to increasing demand from end-use industries and
the ongoing trend towards lightweighting in automotive
applications. The market is also driven by the rising demand for
sustainable and eco-friendly materials in various industries. The
future of the PBT market looks promising, with continued innovation
and development in the field of engineering thermoplastics.
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Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Electrical And Electronics
- Automotive
- Household Appliances
- Extrusion Products
- Type
-
- Industrial Grade
- Commercial Grade
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio