Press release
Thermoplastic Polyester Engineering Resins Market Will Touch USD 5,896.6 Million by 2030
The growth of the industry is attributed to the increasing utilization of these resins for various nonstructural applications as they can be utilized without filters and are usually tougher and more ductile than thermoset resins. Furthermore, they are extensively accessible to meet domestic requirements and are easy to recycle. The rising need from the automobile and electronic sectors is also propelling the advancement of the industry.
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The polyethylene terephthalate category, based on product type, is expected to advance at a significant growth rate in the years to come. PET, manufactured from terephthalic acid and ethylene glycol, is the most utilized thermoplastic polymer all over the globe. Its requirement is rising because of its electrical and mechanical features, and it is extensively utilized in sensors, motor housings, switches, and other electrical systems.
The polybutylene terephthalate category will advance at a steady rate in the years to come. This is because of the growing requirement for PBT in the electrical and automobile sectors. PBT has unique features, including heat resistance, semi-crystalline, and lightweight, because of which conventional materials including bronze, ceramics, and cast iron in the automotive sector are getting replaced.
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In 2022, the automotive category, based on application, led the thermoplastic polyester engineering resins market, with 40% share, and it will remain leading in the years to come. The automotive sector has gained momentum, over the past few years, and key manufacturers of automobiles are utilizing thermoplastic polyester to produce parts of vehicles, which benefits them to lessen the overall weight of the automobiles.
In 2022, APAC dominated the thermoplastic polyester engineering resins industry, with 55% share, and it will remain dominant in the years to come. This is primarily because of the increasing requirement for automobiles and electronics in the continent. The requirement for vehicles is speedily rising in regional nations such as China, India, Indonesia, and Australia.
Therefore, the count of commercial, passenger, and local manufacturing facilities of automobiles is quickly increasing in these nations to meet international and domestic needs.
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The research offers the size of the thermoplastic polyester engineering resins market for the period 2017-2030.
Market Segmentation by Product Type
Polybutylene Terephthalate
Polyethylene Terephthalate
Polycyclohexylene Dimethylene Terephthalate
Market Segmentation by Application
Automotive
Electrical Appliances
Food & Beverage
Industrial Equipment
Others
Market Segmentation by Region
North America Thermoplastic Polyester Engineering Resins Market
By product type
By application
By country - U.S. and Canada
Europe Thermoplastic Polyester Engineering Resins Market
By product type
By application
By country - Germany, U.K., France, Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Thermoplastic Polyester Engineering Resins Market
By product type
By application
By country - Japan, China, India, South Korea, Australia, and Rest of APAC
Latin America (LATAM) Thermoplastic Polyester Engineering Resins Market
By product type
By application
By country - Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Thermoplastic Polyester Engineering Resins Market
By product type
By application
By country - Saudi Arabia, South Africa, U.A.E., and Rest of MEA
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