According to a recent report by Reports and Data, the projected market value for the Global Polybutylene Terephthalate (PBT) market industry is USD 70.94 Billion by 2027. PBT is an engineered thermoplastic that falls under the polyester group of resins and shares similar characteristics with polyethylene terephthalate (PET). It is a semi-crystalline material known for its high molecular weight and is widely used in various applications due to its stiffness, strength, and versatility in color options. The automotive, electronics, and electrical sectors drive the demand for PBT, while additives can be incorporated to enhance its flammability and UV properties for outdoor use. PBT is often preferred for its dimensional stability, strength, insulation, low shrinkage rate during forming, and resistance to solvents.
Key findings from the report include:
- The PBT market had a market share of USD 41.17 Billion in 2018 and is expected to grow at a rate of 6.2% during the forecast period.
- PBT resin is projected to witness a significant growth rate of 7.0% during the forecast period and is expected to hold 31.0% of the market by 2027. This growth is attributed to the rising demand for plastic fiber and resins in the automotive sector.
- Injection molding is the dominant processing method, holding more than 40.0% market share in 2018 and expected to grow at a CAGR of 6.4% during the forecast period. Its advantages include high efficiency, the ability to enhance PBT strength by adding fillers, and cost-saving automation.
- The electrical and electronics segment is expected to witness the fastest growth rate of 6.6% during the forecast period, accounting for 37.2% of the market by 2027. This growth is driven by PBT's excellent electrical and mechanical properties, along with increasing demand in the Asia Pacific region.
- Europe held 29.0% of the market share in 2018, with a CAGR of 6.4% during the forecast period, primarily due to its well-established automotive industry, growing electronics sector, and rising demand for consumer goods.
- Key participants in the industry include BASF SE, A.Schulman Inc, Chang Chun Plastics Co. Ltd, Celanese Corporation, Clariant, China National Bluestar (Group) Co. Ltd, Evonik Industries AG, DuPont, Mitsubishi Engineering Plastics Corporation, and Polymer Technology and Services LLC.
The global PBT market has been segmented based on type, processing methods, application, and region. The segments are as follows:
Get a sample copy of the Polybutylene Terephthalate (PBT) market report: https://www.reportsanddata.com/download-free-sample/2612
Type Outlook:
- PBT compound
- PBT resin
Processing Methods Outlook:
- Injection Molding
- Extrusion
- Blow molding
- Others
Application Outlook:
- Automotive
- Electrical Electronics
- Extrusion Products
- Household Appliances
- Others
Regional Outlook:
- North America (U.S)
- Europe (U.K, France)
- Asia Pacific (China, India, Japan)
- MEA
- Latin America (Brazil)
Polybutylene Terephthalate (PBT) Market: Drive factors
Factors Driving the Polybutylene Terephthalate (PBT) Market
The Polybutylene Terephthalate (PBT) market is experiencing growth due to several driving factors. These factors include:
- High Demand in Automotive Sector: PBT is extensively used in the automotive industry due to its desirable properties such as high strength, dimensional stability, and good insulation. The increasing demand for lightweight automobiles has led to a surge in PBT usage, contributing to the market growth.
- Growth in Electronics and Electrical Components: PBT finds wide application in the electronics and electrical sectors. It offers excellent electrical and mechanical properties, making it suitable for various applications within this industry. The rising demand for electrical products, especially in the Asia Pacific region, has further boosted the market growth.
- Versatility and Adaptability: PBT is known for its adaptability to a wide range of applications. It exhibits a range of color variations from white to bright colors, making it suitable for various industries. Its high-performance characteristics, including stiffness and strength, make it an engineerable plastic of choice for numerous applications.
These driving factors, along with the growing trend of using PBT in diverse industries, have propelled the expansion of the global Polybutylene Terephthalate (PBT) market.
Explore Trending Reports:
Steel Drums Market: https://www.reportsanddata.com/report-detail/steel-drums-market
Cesium Iodide Market: https://www.reportsanddata.com/report-detail/cesium-iodide-market
Ceiling Mounted Fan Coil Market: https://www.reportsanddata.com/report-detail/ceiling-mounted-fan-coil-market
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/2612
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
LinkedIn | Twitter | Blogs
