The latest report by IMARC Group, titled “Polybutylene Terephthalate (PBT) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global polybutylene terephthalate (PBT) market size reached US$ 2,691.9 Million in 2021. Polybutylene terephthalate (PBT) is a semi-crystalline, synthetic, and semi-aromatic engineered thermoplastic used as an insulator in various electrical components. It is produced by blending dimethyl terephthalate or terephthalic acid with butanediol. It exhibits a high rate of crystallization, and chemical, abrasion and heat resistance properties. It also has a low melting point, higher impact resistance, improved tensile strength, and enhanced flexibility as compared to polyethylene terephthalate (PET). Owing to these properties, PBT finds extensive application across automotive, textile, electrical and electronics industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Polybutylene Terephthalate (PBT) Market Trends:
The market is primarily driven by the expanding automotive industry across the globe. PBT is widely utilized to produce cast iron, bronze and ceramic-based automobile handles, fuel system components, windshield wiper covers, connectors and seat belts. In addition, various product innovations, such as the introduction of recyclable PBT that is produced with sustainable green materials, are contributing to the market growth. Besides this, PBT is used in the textile industry to manufacture swimwear due to its flexibility, saltwater resistance, and color retention properties. This, coupled with the rising product utilization in deflection coils, bushings, and adapter coil bobbins, is creating a positive market outlook across the globe. Furthermore, governments of numerous countries are undertaking favorable initiatives to promote PBT adoption in various industries to minimize harmful emissions, which is expected to propel market growth in the coming years. Looking forward, IMARC Group expects the market to reach US$ 3,450.6 Million by 2027, exhibiting a CAGR of 4.22% during the forecast period (2022-2027).
- Based on the type, the market has been bifurcated into industrial and commercial grades.
- On the basis of the processing method, the market has been segmented into injection molding, extrusion, blow molding and others.
- Based on the end use industry, the market has been segregated into automotive, extrusion products, electrical and electronics and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report, with some of the key players being BASF SE, Celanese Corporation, Chang Chun Group, Clariant AG, Daicel Corporation, DuPont de Nemours Inc., Evonik Industries AG, Koninklijke DSM N.V., Lanxess AG, LG Chem Ltd., Mitsubishi Chemical Corporation, Nan Ya Plastics Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Saudi International Petrochemical Company (Sipchem) and Toray Industries Inc.
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