Polytrimethylene Terephthalate Market to Record an Exponential CAGR by 2021
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The market for PTT was mainly driven by industrial and residential carpet market. PTT is used in textile industry as it can be spun both in yarn and fibers. It can be used in textiles and apparels, non-woven, films, engineering thermoplastics and monofilaments. PTT is used in carpets for automotive market. This material finds applications in apparel, home furnishing and automobile upholstery. PTT composites and bio-composites can be major opportunity for the market. However, higher manufacturing costs and patented process can be major restraint for the market in upcoming years.
In terms of demand, Europe was the leading region in PTT market. The demand is high due to huge demand from automobile upholstery industry. Germany and UK are the major markets for PTT. Europe was followed by Asia Pacific. The demand for PTT is significant from carpets and apparel market. North America market is anticipated to grow and is likely to show greater demand in upcoming years owing to huge demand for PTT from home furnishing and composites market. The Rest of the World market is likely to exhibit steady demand for polytrimethylene terephthalate in next few years.
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Some of the key manufacturers in the polytrimethylene terephthalate market are Eastman Chemical Co., E. I. du Pont de Nemours and Company, Huvis Corporation, Royal Dutch/Shell Group of Companies, Teijin Ltd., SK Chemicals and Toray Industries Inc. among others.
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