PUBLISHER: The Business Research Company | PRODUCT CODE: 1425729
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425729
Polybutylene Terephthalate (PBT) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polybutylene terephthalate (pbt) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polybutylene terephthalate (pbt)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The polybutylene terephthalate (pbt) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Polybutylene terephthalate (PBT) stands as a robust, highly crystalline engineering thermoplastic, formed through the polymerization of terephthalic acid with butanediol.
Two primary classifications of polybutylene terephthalate exist such as reinforced and unreinforced. Reinforced PBT constitutes a semi-crystalline engineering thermoplastic material utilized through various processing methods such as injection molding, extrusion, blow molding, and others. Its applications span industries including automotive, extrusion, electrical and electronics, among other sectors.
The polybutylene terephthalate market research report is one of a series of new reports from The Business Research Company that provides polybutylene terephthalate market statistics, including polybutylene terephthalate industry global market size, regional shares, competitors with a polybutylene terephthalate market share, detailed polybutylene terephthalate market segments, market trends and opportunities, and any further data you may need to thrive in the polybutylene terephthalate industry. This polybutylene terephthalate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion witnessed in the past period owes its growth to several factors, including its integration into emerging industries, prevailing global economic conditions, the increased adoption of electric vehicles, utilization in consumer goods and textile applications, and notable 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 anticipated growth in the upcoming period is expected to stem from persistent emphasis on lightweight materials, ongoing global economic transitions, the increasing adoption of electric vehicles (EVs), escalating demand for consumer goods, and the expanding market in the Asia-Pacific region. Key trends anticipated in the forecast period encompass heightened demand within the automotive industry, greater utilization in electronics and electrical applications, a surge in the use of sustainable and recyclable materials, continued advancements in material properties, and the ongoing trend of miniaturization in electronics.
The upward trajectory of the polybutylene terephthalate market is strongly influenced by the burgeoning automotive industry. This sector encompasses all aspects related to manufacturing motor vehicles, including their components. Polybutylene terephthalate (PBT) plays a pivotal role due to its excellent durability in high thermal stress and challenging chemical environments, especially in automotive under-the-hood applications. Notably, in 2022, global motor vehicle production surged to 85.4 million units, marking a substantial 5.7% increase from the previous year, as reported by the European Automobile Manufacturers Association. Similarly, Brand Finance plc highlighted a remarkable 10% rise in automobile sector sales, reaching approximately 78 million units in 2022. This industry growth significantly propels the demand for polybutylene terephthalate.
The escalating demand for consumer electronics stands as a driving force behind the expansion of the polybutylene terephthalate market. These devices cater to everyday individual and household use, focusing on entertainment and communication. Polybutylene terephthalate (PBT) finds application in manufacturing connectors, housing components for electronic devices, and specific elements on printed circuit boards (PCBs). Figures from gfu Consumer and Home Electronics GmbH indicate a noteworthy increase in the consumer electronics segment, with sales reaching $37.4 billion in 2021, up by 9.6% from $34.1 billion in 2020. This surge in demand underscores the significant role of polybutylene terephthalate in meeting the needs of the consumer electronics market.
Innovations in product offerings emerge as a dominant trend shaping the polybutylene terephthalate market landscape. Leading companies within this sector are dedicated to developing novel product solutions to fortify their market presence. For instance, BASF introduced PBT Ultradur® B4335G3 HR HSP in May 2022, designed as a protective material for sensitive electronics. This product boasts unique features including hydrolysis resistance, excellent flowability, and reduced melt viscosity, enabling the production of thin-walled components that safeguard delicate electronics from various influences.
Prominent players in the polybutylene terephthalate market are heavily focused on innovating products such as PBT resin to offer reliable services to their customers. This thermoplastic engineering plastic, known for its polyester basis and excellent chemical and electrical resistance, finds applications across various industries. In February 2023, Polyplastics launched DURANEX 201EB, a PBT resin providing electromagnetic wave shielding alongside electrical conductivity. This product, with its composition akin to radomes, offers exceptional bonding capabilities through double-shot molding, making it ideal for enhancing millimeter wave radar detection accuracy. Its electrical conductivity and electromagnetic noise absorption in the millimeter wave band contribute to improved detection accuracy, making it a sought-after grade in the market.
In November 2022, Celanese Corporation, a prominent materials company based in the United States, completed the acquisition of DuPont's Mobility And Materials (M&M) business, marking a significant addition to its portfolio. The financial specifics of the transaction were not disclosed. This acquisition strategically enhances Celanese's extensive array of renowned brands, intellectual property, global production capabilities, and engineered thermoplastics and elastomers. DuPont, also based in the US, is a notable player in the chemicals industry, particularly in the realm of Polybutylene Terephthalate (PBT).
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., Rochling 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.
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.
The countries covered in the polybutylene terephthalate (pbt) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The polybutylene terephthalate market consists of sales of PBT compounds, PBT resin, and other types. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.