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Polybutylene Terephthalate (PBT) Market

R&D Investments being Directed towards Development of Biodegradable Polybutylene Terephthalate (PBT) Polymers, Opines Fact.MR

Published : 30 Jun 2021 Industry: Chemical & Materials

As per the latest revised report published by Fact.MR - a market research and competitive intelligence provider, the global polybutylene terephthalate (PBT) market is anticipated to exceed a valuation of US$ 2.9 Bn globally in 2021, and expand at an impressive CAGR of more than 6% over the forecast period of 2021 to 2031.

The market is in the growth phase of its lifecycle, registering annual growth of 4.2% from 2016 to 2020. Fact.MR anticipates significant potential in the market, owing to factors such as increasing R&D spending and growing demand for biodegradable PBT polymers.

As a sustainable alternative to petroleum-based plastics, development of bio-based plastics is one of the aspects where a bulk of R&D investments are focused. In the PBT marketplace, research & developments activities are aimed at making PBT greener and efficient by increasing bio-based content along with incorporation of innovative formulations.

As PBT applications range from automotive and electronics to other plastic-based uses, associated environmental concerns and increasing demand for bio-based solutions have led PBT manufacturers to ramp up efforts to devise biodegradable and renewable forms of PBT. Chemical industry titans such as DSM, DuPont, and BASF have introduced bio-based PBT polymers that are equally efficient as their synthetic counterparts, for multiple applications.

Key Takeaways from Market Study

  • The global PBT market is anticipated to expand at a CAGR of over 6% during 2021-31, and is expected to create an absolute $ opportunity worth US$ 2.5 Bn in the same timeframe.
  • Demand for PBT is mainly driven by its increased usage in industries such as electrical and electronics, automotive, and consumer goods.
  • East Asia along with Europe has driven the consumption of PBT during the historical period, and cumulatively accounted for over 75% market share in 2020.
  • North America is one of the emerging market growing at a fast pace, and is expected to progress at a CAGR more than 5% through 2031.
  • On the basis of processing method, the market is projected to be dominated by the injection molding method, which will account for around 70%% market share by 2031.

“Growing applications in automotive sector to sustain future PBT demand,” says a Fact.MR analyst.

Winning Strategy

The market is moderately fragmented and manufacturers are trying to maintain their long-run dominance in the market. Key manufacturers are constantly involved in developing new product lines to enter new application areas. Moreover, their thirst for market dominance is high owing to the rapidly growing market with higher potential.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global PBT market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the PBT market on the basis of type (Reinforced (15% Reinforced (GF), 30% Reinforced (GF), 50% Reinforced (GF), >50% Reinforced (GF)), Unreinforced), Processing Method (Injection Molding, Extrusion, Others), End-use (Automotive (Body Panels, Ignition Coil Bobbins, Covered Insulations, Exhaust System part, Ignition System, Others), Packaging (Food Products, Cosmetics), Electrical & Electronics (Transformer Coil Bobbins, Adapter Coil Bobbins, Deflection Coils, CRT & Potentiometer Stands, Switching connectors, Motor Cover and Bushings, Others), Consumer Goods (Sporting Goods, Kitchen Appliances, Others), Machinery (Transport machinery parts, Sewing Machines, Textile Machinery Parts, Power Tool Parts)), and across six major regions (North America, Latin America, Europe, East Asia, South Asia Oceania, and MEA).

About the Chemicals & Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals & Materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Chemicals & Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Consultant – Chemicals & Materials Division

E-mail: Yash@factmr.com

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Polybutylene Terephthalate (PBT) Market By Type (Reinforced, Unreinforced), By Processing Method (Extrusion, Injection Molding), By End-use (Automotive, Packaging, Electrical & Electronics, Consumer Goods)- Global Market Insights 2021 to 2031