The Global Polybutylene Terephthalate (PBT) market is forecast to reach USD 70.94 Billion by 2027, according to a new report by Reports and Data. Polybutylene terephthalate or PBT is a semi-crystalline, synthetic, engineered thermoplastic with similar composition and properties to polyethylene terephthalate (PET). PBT is a shares features with other thermoplastic polyesters, and it is a part of the polyester group of resins. PBT can be considered as a high-performance material with high molecular weight. It is often characterized as stiff, strong, engineerable plastic. Its color variations range from white to bright colors, making it adaptable for a wide range of applications.
Its high demand in automotive, electronics and electrical components are fostering the growth of this industry. In the case of outdoor uses having the concern of fire, additives are added to PBT to enhance its flammability and UV properties. The scope of these modifications makes PBT appropriate for various industrial applications. PBT is usually the preferred choice when a material with good dimensional stability, high strength, and good insulation is required. PBT’s major advantages are low shrinkage rate when forming and resistance to solvents. Apart from its desired features for the application in various end-user industries, factors like the increasing demand for lightweight automobiles and the rising demand for electrical applications are also supporting the growth of the market.
In regards to region, North America can be seen to hold a considerable share of the market. The market share held by the region is attributed to a well-established automotive industry and electrical & electronics sector.
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Key participants include BASF SE, A.Schulman Inc, Chang Chun Plastics Co. Ltd, Celanese Corporation, Clariant, China National Bluestar (Group) Co. Ltd, Evonik Industries AG, DuPont, Mitsubishi Engineering Plastics Corporation and Polymer Technology and Services LLC.
Further key findings from the report suggest
The Polybutylene Terephthalate market held a market share of USD 41.17 Billion in the year 2018 that is forecasted to grow at a rate of 6.2% during the forecast period.
In context to Type, the PBT resin segment is projected to witness a significant growth rate of 7.0% during the forecast period, which is expected to hold 31.0% of the market by 2027. The growth rate witnessed by this segment is attributed to the growing demand for plastic fiber and increasing demand for resins in the automotive sector, wherein PBT resins are needed for manufacturing PBT fiber, and the base resin derived from it can be used in the automotive & electronics industry, contributing to the growth rate witnessed by this segment.
In context to Processing Methods, the Injection Molding segment held the largest market share of more than 40.0% in 2018, with a CAGR of 6.4% during the forecast period. The market dominance of the Injection Molding segment is attributed to its various advantages like high efficiency, the scope of enhancing the strength of PBT by adding fillers and automation of the process that saves the manufacturing costs, which results in its high demand among the manufacturers of these thermoplastic material.
In regards to Application, the Electrical & Electronics segment is projected to witness the fastest growth rate of 6.6% during the forecast period, which is expected to hold 37.2% of the market by 2027. The growth rate witnessed by the Electrical & Electronics segment is attributed to the traits of PBT is excellent electrical and mechanical properties, making it appropriate for this application. Its effective electrical resistance properties, excellent dimensional stability, and flame retardant properties along with growing demand for electrical products in the Asia Pacific region, is contributing to the growth rate of this segment.
In regards to the region, Europe held 29.0% of the market in 2018, with a CAGR of 6.4% during the forecast period. The market share held by the region is attributed to the well-established automotive industry, growing electronics sector and continuously increasing demand for consumer goods, which is supporting the expansion of the market in this region.
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For the purpose of this report, Reports and Data have segmented the global Polybutylene Terephthalate market according to Type, Processing Methods, Application, and Region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
PBT compound
PBT resin
Processing Methods Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Injection Molding
Extrusion
Blow molding
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Automotive
Electrical & Electronics
Extrusion Products
Household Appliances
Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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