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Polybutylene Terephthalate (PBT) Market Analysis, Trends, Growth, Research And Forecast 2033
Polybutylene Terephthalate (PBT) Market
The Business Research Company presents an extensive market research report on the Polybutylene Terephthalate (PBT) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 growth in the historic period can be attributed to adoption in new industries, global economic conditions, electrical vehicle adoption, consumer goods and textile applications, 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 growth in the forecast period can be attributed to continued focus on lightweight materials, global economic shifts, electrical vehicle (ev) adoption, consumer goods demand, market growth in asia-pacific region.. Major trends in the forecast period include demand in automotive industry, electronics and electrical applications, sustainable and recyclable materials, advancements in material properties, miniaturization in electronics..
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Key Market Players:
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., Röchling 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.
Market Drivers:
The growing automotive industry is expected to propel the growth of the polybutylene terephthalate market going forward. The automotive industry refers to all those companies and activities involved in the manufacturing of motor vehicles, including most components, such as engines and bodies. Polybutylene terephthalate provides good durability under thermal stress and/or harsh chemical environments, particularly in automotive under-the-hood applications. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the growing automotive industry drives the polybutylene terephthalate market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/polybutylene-terephthalate-pbt-global-market-report
The polybutylene terephthalate (pbt) market covered in this report is segmented -
1) By Type: Reinforced Polybutylene Terephthalate, Unreinforced Polybutylene Terephthalate
2) By Processing Method: Injection Molding, Extrusion, Blow Molding, Other Processing Methods
3) By End-User Industry: Automotive, Extrusion, Electrical And Electronics, Other End-User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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