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Polybutylene Terephthalate (PBT) Market Boosting the Growth Worldwide at a CAGR of 5.5% from 2019 to 2029
Polybutylene Terephthalate (PBT) Market
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In addition, these grades are optimized to offer enhanced surface quality and high dimensional stability which makes it a resin of choice in numerous applications including automotive and medical. Furthermore, several PBT grades made by market players are in accordance with KTW, DVGW and WRAS guidelines which will bolster its demand in food and medical applications, driving the market at a moderate CAGR of 5.5% over the forecast period.
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Key Takeaways of Polybutylene Terephthalate Market:
Numerous reinforced and unreinforced grades of polybutylene terephthalate offered by market players are expanding applications in automotive and packaging. These are set to propel growth in the market.
Polybutylene terephthalate resins derived from recycled polyethylene terephthalate with enhanced properties will reduce reliance on virgin resins, thus addressing industrial demand for more sustainable materials.
Automotive applications have driven the demand for polybutylene terephthalates and is projected to experience leading growth among other applications accounting for more than one third of the revenue share by 2029
Consumer appliances and extrusion applications are set to witness steady growth rate, creating collective $ opportunity of US$ 300 Mn during the forecast period.
“Attributed to its excellent heat aging properties and high melting point, polybutylene terephthalate has become material of choice for extrusion of films and thermoforming of packaging. These factors combined, will act as growth levers for the market”, says the Fact.MR analyst.
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Positive Cash Flow towards Facility Expansion and Product Innovation by Market Players
Polybutylene terephthalate market is partially consolidated in nature, where top five players accounted for over one fourth of the market share in 2018. BASF SE, DSM, DuPont, Sahara International Petrochemicals Co and Toray Industries, Inc. are the key stakeholders. Prominent companies have been involved in numerous facility expansions, strategic partnerships and product launches to strengthen their market position. In addition, market players are offering hundreds of grades such as glass reinforced, flame retardant and medical grades to leverage immense potential in the market.
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More Valuable Insights on Polybutylene Terephthalate Market:
Fact.MR, in its new offering, presents an unbiased analysis of the polybutylene terephthalate market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on polybutylene terephthalate on the basis application (automotive, consumer appliances, electrical & electronics, extrusion, industrial and others) across six major regions.
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