Polybutylene Terephthalate (PBT) Market
Polybutylene Terephthalate (PBT) Market Analysis by Reinforced and Unreinforced for Automotive, Packaging, Electrical & Electronics, and Consumer Goods from 2023 to 2033
Analysis of Polybutylene Terephthalate (PBT) market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Polybutylene Terephthalate (PBT) Market Outlook (2023-2033)
The global polybutylene terephthalate market is valued to be US$ 2.8 billion in 2023 and it is anticipated to grow at a CAGR of 5.2% to reach US$ 4.6 billion by the end of 2033.
Polybutylene terephthalate (PBT) offers numerous benefits for both processors and designers in the automotive industry. It can be used in both the interior and exterior parts of the automobile. High electrical resistance and dielectric strength make it more useful in uncountable electrical and electronic applications.
Report Attributes |
Details |
Polybutylene Terephthalate (PBT) Market Size (2022A) |
US$ 2.6 Billion |
Estimated Market Value (2023E) |
US$ 2.8 Billion |
Forecasted Market Value (2033F) |
US$ 4.6 Billion |
Global Market Growth Rate (2023-2033) |
~5.2% CAGR |
Key Companies Profiled |
|
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Historic and Future Pathway Analysis for the Polybutylene Terephthalate (PBT) Market
Rising integration and growing manufacturers adaptability to the positive network externalities across the consumer goods, machinery, and packaging industry are set to thrive in the polybutylene terephthalate market growth.
Further, rising demand from niche applications like packaging, and drug delivery systems in the medical industry is set to fuel the demand for PBT in forthcoming years.
- Short Term (2023-2026): Consumer appliances are anticipated to have steady growth in the Polybutylene terephthalate (PBT) market.
- Medium Term (2026-2029): Growing demand from Asia pacific countries including China and India will drive the market for polybutylene terephthalate in the medium term.
- Long Term (2029-2033): Government guidelines and the booming automotive industry and packaging industry across the world-wide are anticipated to create abundant growth opportunities for the polybutylene terephthalate market in a long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 6.0% CAGR between 2023 and 2033.
“Rising Automotive Industry to Augment Growth of the Polybutylene Terephthalate (PBT) Market”
Polybutylene terephthalate is showing superior chemical stability and resistance to high temperatures due to which it is frequently used in industrial and automotive equipment and for the manufacturing of ceramic-based automotive handles, windscreen wiper covers, seat belts, and other types of equipment PBT is widely used.
In addition, PBT is considered naturally elastic, saltwater resistant, and has color retention properties, thus the textile industry is increasingly using PBT to manufacture swimwear, which is favoring the market expansion. Moreover, the various product innovations, such as the creation of recyclable PBT, are boosting market expansion.
Continuous demand for PBT from various end-use industries has provided opportunities for manufacturers to broaden their profit margins. The aforementioned above factors drive the polybutylene terephthalate market growth, hence, polybutylene terephthalate is anticipated to witness growth on the back of the flourishing end-use industry.
“Up surging demand for substitutes: Restrain the Market Growth”
The demand for polybutylene terephthalate is declining as a result of substitute products being available with nearly identical properties. Numerous industrial companies are competing for PBT supply by providing reliable substitutions. For instance, Shell Chemical is engaged in fabricating polytrimethylene terephthalate (PTT) as a substitute for polybutylene terephthalate (PBT).
Additionally, PBT and PTT have many of the same characteristics, including tensile strength and heat deflection temperature. Moreover, the alternative option has already arrived in the market and is undoubtedly going to have an influence on PBT demand over the course of the long-term forecast period.
Country-wise Insights
What are the Factors Driving Polybutylene Terephthalate (PBT) Demand Across the US?
The rise in the consumption and rapid production of PBT-based products in the US witnessed high demand for polybutylene terephthalate. The preponderant factor that is driving the demand for Polybutylene terephthalate (PBT) in the US is the increasing automotive framework coupled with rising per capita income.
Further, the country's demand for polybutylene terephthalate is expected to increase over the projected period due to the substance's numerous uses in electrical insulation polymers, electrical encapsulation materials, and electrical and electronic plastics.
Why is China Polybutylene Terephthalate (PBT) Market Expected to Be Highly Lucrative?
China is expected to hold a prominent market share globally owing to the presence of a bundle of manufacturers and consumers in proximity. This is anticipated to favor economies of density in the region. China is the demand epicenter, the country known for heightened consumption and production of PBT across the globe.
The electrical and electronics industry together has bolstered at a rapid pace over the past half-decade with most of the production concentrated in China. Moreover, prominent manufacturers are eyeing to shift their production bases to China owing to the economies of proximity favoring the PBT market growth.
Apart from automotive and other industries, the growing use of polybutylene terephthalate in electrical applications in China aids market growth. The market in China is projected to expand at a sizable CAGR during the designated period.
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Category-wise Insights
Why Demand for Polybutylene Terephthalate is Higher for Automotive End Use?
Polybutylene terephthalate is used in the automobile industry to manufacture, covered insulations, ignition systems, body panels, exhaust system components, and other equipment as well. Further, electrical and electronic products use polybutylene terephthalate as a crucial raw material which raises the demand for the product.
In addition, polybutylene terephthalate (PBT) is considered the second most utilized commercial polyester and the automotive industry is going through a significant transformation due to the efforts laid down by the world to reduce the consumption of fossil fuels and expurgated emissions. Further, the significant rise in the number of electric vehicles is anticipated to increase the demand for high-voltage components. Hence, the demand for PBT is increasing.
Will Market Growth Be Led by the Processing Method of Injection Moulding Polybutylene Terephthalate?
The semi-crystalline thermoplastic polybutylene terephthalate (PBT) is a versatile general-purpose resin for a variety of applications, including home applications (food processor, knife blades, coffee makers, and others.), electronics (keycaps for computer keyboards, connectors, and others), and automobiles (body panels, wheel covers, components for doors and windows, etc.)
Further, the injection molding process is essential for the development of medical and pharmaceutical products. Hence, the growing pharmaceutical industry leads to an increase in the demand for PBT.
Eminent Players Key Stratagems
Prominent polybutylene terephthalate manufacturers are DSM, Röchling, RTP Company, Chang Chun Group, Duromer Products Pty Ltd, Nan Ya Plastics, Polyplastics Co., Ltd., Sahara International Petrochemicals Co., Samyang Corporation, Toray Industries, Inc., and others.
The market players operating in the PBT market are focusing on entering into long-term supply contracts with electronics and automotive manufacturing companies to expand their customer base and global footprints.
Further, manufacturers are indulging in improving their overall portfolio by offering customized solutions to their customers. Analyzing customer feedback and developing products accordingly to meet the exact requirement level.
Fact.MR has provided detailed information about the price points of key manufacturers of polybutylene terephthalate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Segmentation of Polybutylene Terephthalate (PBT) Industry Research
-
By Type :
- Reinforced Polybutylene Terephthalate
- 15% Reinforced
- 30% Reinforced
- 50% Reinforced
- >50% Reinforced
- Unreinforced Polybutylene Terephthalate
- Reinforced Polybutylene Terephthalate
-
By Processing Method :
- Injection Moulding
- Extrusion
- Others
-
By 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
- Others
- Automotive
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What is the Global Polybutylene Terephthalate (PBT) Market Size?
The global Polybutylene Terephthalate (PBT) market is valued at US$ 2.8 billion in 2023.
How will the Market Perform over the Forecast Period?
During 2023-2033, sales of Polybutylene Terephthalate (PBT) is forecasted to grow at a CAGR of 5.2%.
Which Regional Polybutylene Terephthalate (PBT) Market Accounts for a Leading Market Share?
East Asia tops the global polybutylene terephthalate market accounting for 33.1% market share in 2023.
Who are the Major Players in the Polybutylene Terephthalate (PBT) Market?
Market players include Sahara International Petrochemicals Co, Duromer Products Pty Ltd., and Chang Chun Group are majorly operating and dominating in the market.
What are the Factors Driving the Polybutylene Terephthalate (PBT) Sales Growth During the Forecast Period?
Factors such as growing demand for Polybutylene Terephthalate (PBT) from the flourishing automotive industry and electrical & electronics bolster sales growth of polybutylene terephthalate.