Reinforced Polybutylene Terephthalate Demand to Rise at 6.3% CAGR Giving Tailwinds to Polybutylene Terephthalate Market Growth: Fact.MR

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• USA - English

NEW YORK, July 14, 2021 /PRNewswire/ -- The global polybutylene terephthalate market is poised to expand at a CAGR of approximately 6% over the forecast period 2021-2031, surpassing a valuation of US$ 2.3 Bn by the end of 2031. As per an analysis by Fact.MR, surging demand from automotive sector will present a positive demand outlook for polybutylene terephthalate market. The report also projects the market to witness impressive 5.7% year-on-year growth in 2021.

Growing usage of PBT in the thermoforming of packaging and extrusion of films owing to its high melting point is positively influencing demand outlook. PBT applications in electrical encapsulation materials, electrical insulation polymers, and electrical and electronic plastics are set to push sales over the forecast period.

As per the study, the rapid growth of textile sector has led to increasing need for high resistance materials. This will present prospects for PBT market players to capitalize on. Also, growing demand for environmentally-friendly, sustainable green materials has triggered sales of recyclable PBT.

According to the study, the demand for reinforced polybutylene terephthalate will rise at a CAGR of nearly 6.3%, surpassing a valuation of US$ 1.9 Bn by the end of 2031.

The market for polybutylene terephthalate in East Asia is anticipated to surpass a valuation of US$ 1.4 Bn by 2031. Owing to factors such as advancement in the automotive industry and increasing investment in engineering plastics, the market is likely to exhibit a high growth over the assessment period.

"Leading players operating in the market are focusing on expanding their portfolio. The market is therefore registering a slew of product launches with improved recyclability and characteristics to suit diverse applications," says Fact.MR analyst.

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Key Takeaways from Polybutylene Terephthalate (PBT) Market Survey

• In East Asia, China is dominating the polybutylene terephthalate market. It accounted for 1/3 of the global market in 2020 and is expected to expand at a CAGR of approximately 8% over the forecast period.
• Europe is expected to emerge as a lucrative pocket, accounting for 35% of the global market share and exhibiting a CAGR of 4.6% over the forecast period 2021-2031.
• The East Asia market for polybutylene terephthalate is estimated to reach a valuation of US$ 1.4 Bn by 2031.
• Based on type, reinforced polybutylene terephthalate is high in demand and is expected to exhibit sales at a CAGR of 6.3% over the forecast period.
• Growing usage of PBT in manufacturing of adapter coil bobbins is poised to expand at a CAGR of 6.2% over the forecast period.

Key Drivers

• Growing applications of polybutylene terephthalate (PBT) in electrical encapsulation materials, electrical insulation polymers, and electrical and electronic plastics is driving sales of PBT.
• Growing usage of polybutylene terephthalate in electric vehicles for construction of interior as well as exterior body parts is propelling market growth of PBT.
• Increasing need for heat resistance and light weight material in plastic industry will spur sales of PBT.

Key Restraints

• Rising availability of substitutes of PBT is hampering the market sales.
• Poor chemical resistance for alkalis is restricting the growth of market.

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Competitive Landscape

Leading players operating in the market are focusing on adopting strategies such as mergers & acquisitions to cater to the needs of consumers. Also, they are providing new product offerings in order to enhance their product portfolio.

For instance, in 2020, Celanese Corporation, a global chemical and specialty materials company, announced to initiate a three-year plan to burgeon engineered materials compounding capacities at locations including Suzhou and Nanjing in China and Silvassa in India. Celanese developmental strategy is focused on achieving a dominant position in the industry by expanding both polymer and compounding capacities through additions and investments.

In 2020, BASF announced the launch of its two product variants, Ultradur® B6551 LNI for extrusion and Ultradur® B6560 M2 FC TF, the world's first thermoformable PBT.

Some of the prominent market players operating in the polybutylene terephthalate (PBT) market profiled by Fact.MR 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.

More Valuable Insights on Polybutylene Terephthalate (PBT) Market

Fact.MR, in its new report, offers an unbiased analysis of the global polybutylene terephthalate (PBT) market, analysing forecast statistics through 2021 and beyond. The survey reveals growth projections on in polybutylene terephthalate (PBT) market with detailed segmentation:

• By Type
• Reinforced Polybutylene Terephthalate
• 15% Reinforced (GF) Polybutylene Terephthalate
• 30% Reinforced (GF) Polybutylene Terephthalate
• 50% Reinforced (GF) Polybutylene Terephthalate
• >50% Reinforced (GF) Polybutylene Terephthalate
• Unreinforced Polybutylene Terephthalate
• By Processing Method
• Injection Moulding Polybutylene Terephthalate
• Extrusion Polybutylene Terephthalate
• Others
• By End Use
• Polybutylene Terephthalate for Automotive
• Body Panels
• Ignition Coil Bobbins 
• Covered Insulations
• Exhaust System part
• Ignition System
• Others
•  Polybutylene Terephthalate for Packaging
• Food Products
• Cosmetics
• Polybutylene Terephthalate for Electrical & Electronics
• Transformer Coil Bobbins
• Adapter Coil Bobbins
• Deflection Coils
• CRT & Potentiometer Stands
• Switching connectors
• Motor Cover and Bushings
• Others
• Polybutylene Terephthalate for Consumer Goods
• Sporting Goods
• Kitchen Appliances
• Others
• Polybutylene Terephthalate for Machinery
• Transport machinery parts
• Sewing Machines
• Textile Machinery Parts
• Power Tool Parts
• Others

Key Questions Covered in the Polybutylene Terephthalate Market Report 

• The market survey also highlights projected sales growth for polybutylene terephthalate market between 2021 and 2031
• The report offers insight into polybutylene terephthalate demand outlook for 2021-2031
• Polybutylene terephthalate market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Polybutylene terephthalate market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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SOURCE Fact.MR