Polybutylene Terephthalate Market: Global Industry Analysis and Forecast (2022-2029)

Polybutylene Terephthalate Market size was valued at US$ 1.94 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 5.28% from 2022 to 2029, reaching nearly US$ 2.93 Bn.
Polybutylene Terephthalate Market Overview:
Polybutylene Terephthalate Market is expected to reach US$ 2.93 Bn. by 2029. PBT, or Polybutylene terephthalate, is a type of polymer that belongs to the polyester family. It is an engineering thermoplastic material that is semi-crystalline and has characteristics similar to polyethylene terephthalate (PET). Using unique catalysts, PBT is created by polycondensing terephthalic acid and 1,4-butanediol. Cast iron, stainless steel, bronze, and ceramic-based automotive handles, fuel system parts, windshield wiper covers, connectors, and seat belts are all produced using PBT. This report focuses on the different segments of the Polybutylene Terephthalate market (Type, Processing Method, End User, and Region). In-depth analysis of the leading industry participants and regions is provided in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a thorough examination of the numerous sectors' explosive modern-era growth. Through numbers, visuals, and presentations, the core data analysis from 2017 to 2021 is highlighted. The market drivers, restraints, opportunities, and challenges for Polybutylene Terephthalate are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Polybutylene Terephthalate market.



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Polybutylene Terephthalate Market Dynamics:
Due to its superior chemical stability, high temperature resistance, and impact resistance, Polybutylene terephthalate can take the role of metals as an engineering material in sectors including automotive and industrial equipment.

Governments in countries like China and a number of EU member states are assisting Polybutylene terephthalate (PBT) manufacturers by looking at ways to reward them for PBT produced and enticing investors to direct their capital toward this high-potential industry.

PBT is widely produced and consumed in East Asia, particularly China, which favours economies of density. This factor is expected to drive foreign companies to participate in the country's PBT manufacturing, which would open up opportunities for larger absolute dollar amounts as well as allow manufacturers to increase their market share globally during the forecast period.

Additionally, government-led initiatives like "Make in India" aimed to lessen the reliance on imports for engineering plastics like Polybutylene terephthalate. The proposal includes inviting international companies to enter the Indian market and encouraging them to establish new manufacturing facilities there. This will increase the supply of engineering plastics at comparatively lower prices.

Demand for Polybutylene terephthalate is expected to be restrained by the availability of substitute goods with almost equivalent characteristics. Many manufacturing firms are vying for PBT supply by providing trustworthy alternatives. Shell Chemical, for instance, is concentrating on producing polytrimethylene terephthalate (PTT) as a substitute for PBT. In order to serve PBT-related markets, the corporation announced a number of commercial-scale developments in 2019. In addition, the corporation intended to replace PBT with PTT worth 600 million pounds.

Terephthalic acid (TPA), the main monomer of PTT, is similar to that of PBT; however, whereas PBT uses 1,4 butanediol as its glycol, PPT employs 1,3 propanediol. In spite of its different chemistry, polytrimethylene terephthalate (PTT) shares many characteristics with PBT, such as flexural modulus, tensile strength, and heat deflection temperature. Additionally, the substitute has already entered the market and is probably going to have an impact on PBT demand during the forecast period.

Increasing use of Polybutylene terephthalate in the construction of interior and exterior body components for electric vehicles is expected to drive market growth during the forecast period. Growing consumer preference for electric vehicles over fuel-based (diesel, petrol, and CNG) vehicles is a result of growing awareness of environmental degradation. Automotive developments including electrification, automated driving, and a push to cut emissions are creating a market for Polybutylene terephthalate that is expected to increase steadily. Furthermore, hydrolytically resistant PBT has a significant influence on the production of a number of electronic sensors for electric vehicles.
Polybutylene Terephthalate Market Segment Analysis:
The Polybutylene Terephthalate Market is segmented by Type, Processing Method, and End User.

Based on the Type, the market is segmented into Reinforced Polybutylene Terephthalate, and Unreinforced Polybutylene Terephthalate. Reinforced Polybutylene Terephthalate segment is expected to hold the largest market share of xx% by 2029. The most popular PBT type on the market is reinforced PBT. Furthermore, during the past five years, demand for PBT that is 30% reinforced has increased. It has been proven that all grades of reinforced PBT (15%, 30%, 50%, and >50%) are more productive in terms of producing goods than unreinforced PBT type. Thus, there is less need for Polybutylene terephthalate without reinforcement.



Based on the End User, the market is segmented into Automotive, Packaging, Electrical & Electronics, Consumer Goods, Machinery, and Others. Automotive industry segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. A variety of automotive, electrical, and electronic products use Polybutylene terephthalate as a key raw material. PBT is used in the automobile industry to make body panels, ignition coil bobbins, covered insulations, exhaust system components, ignition systems, and other components.

Electrical & Electronics segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. PBT is used to make a variety of goods in the electrical and electronics industries, including motor covers, bushings, CRT and potentiometer stands, switching connectors, transformer coil bobbins, adapter coil bobbins, and deflection coils.

Among all the electrical and electronic end uses, the production of transformer coil bobbins makes extensive use of PBT. Thus, it fulfils nearly 29% of the Polybutylene terephthalate demand in the electrical and electronics sector. During the forecast period, Polybutylene Terephthalate use is expected to grow at a CAGR of 6.2% in the production of adaptor coil bobbins.

The demand for Polybutylene terephthalate is expected to increase rapidly due to the widespread use and sales of PBT in the automotive industry, in addition to electrical and electronic devices, globally.

Based on the Processing Method, the market is segmented into Injection Molding, Extrusion, Blow Molding, and Others. Injection molding segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. PBT is primarily processed by injection moulding at temperatures between 230° and 270° C. Many of the components featured on modern cars require a variety of intricately crafted characteristics in order to work properly. To design, organise, and produce the parts they require, many of the top players in the automobile industry have opted to use plastic injection moulding. Bumpers, dashboards, and smaller parts like cup holders and mirror housings are examples of inject moulded components.

The food and beverage industry mainly utilises plastic materials when it comes to injection moulding to make product packaging and containers. Plastic injection moulding is an obvious choice to guarantee that numerous standards are met, including BPA-free, FDA-certified, non-toxic, and GMA-safe laws, because this industry is required to adhere to severe sanitization and safety regulations. The food and beverage industry's packaging and container demands can be met through injection moulding, which offers a one-stop shop for everything from bottle caps to the trays used in TV dinners.

Plastic injection moulding is essential for the creation of medical and pharmaceutical products since many medical items must be shatter-proof, non-porous, and of the highest quality possible. The medical business can profit from injection molding's shortened production schedules and inexpensive production materials while still producing high-grade medical items since it produces goods in large quantities. From pill bottles to x-ray parts, injection moulding can be used to make parts for the medical and pharmaceutical industries.

In the past, it was common for the agriculture sector to spend money on metal-made components because they offered a long-lasting solution. Due to new plastic material properties like UV resistance, impact resistance, humidity resistance, and many more, reinforced plastic choices are now more popular. Plastic injection moulding is a natural fit for the agriculture business since it can produce tough agricultural items that withstand the environment on a farm, from feeding troughs to specialised harvesting components.
Polybutylene Terephthalate Market Regional Insights:
The Asia Pacific region is expected to dominate the Polybutylene Terephthalate Market during the forecast period 2022-2029. The Asia Pacific region is expected to hold the largest market share of xx% by 2029. China accounted for approximately 28% of the world market and more than 70% of the East Asian market for PBT in 2020. Over 40% of all PBT-based goods and materials sold in China are in the electrical and electronics sector.

China is a significant consumer and manufacturer of goods based on PBT. Additionally, the country has seen an increase in exports of PBT-based electronics and automotive components between 2016 and 2020. China has developed as a potential hub for PBT business in addition to becoming a significant investor in engineering plastics. The PBT market in the country is expected to grow as a result.

Europe region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Germany continues to lead in terms of PBT consumption in Europe. The country ranks among the top automobile manufacturers, which contributes to growing PBT usage. Germany accounted for over 10% of the global market share and over 27% of the European market share in 2020. It has been observed that German automakers employ approximately 15–20 percent of PBT-based goods during the assembly phase of automobile manufacturing. The country remains one of the main consumers of PBT due to significant spending in the automobile industry.



The objective of the report is to present a comprehensive analysis of the Global Polybutylene Terephthalate Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Polybutylene Terephthalate Market dynamic and structure by analyzing the market segments and projecting the Global Polybutylene Terephthalate Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Polybutylene Terephthalate Market make the report investor’s guide.
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Global Polybutylene Terephthalate Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.94 Bn.


Forecast Period 2022 to 2029 CAGR:
5.28%
Market Size in 2029:
US $ 2.93 Bn.


 Segments Covered:
by Type
• Reinforced Polybutylene Terephthalate
• Unreinforced Polybutylene Terephthalate


by Processing Method
• Injection Molding
• Extrusion
• Blow Molding
• Others


by End-User
• Automotive
• Packaging
• Electrical & Electronics
• Consumer Goods
• Machinery
• Others



Polybutylene Terephthalate Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Polybutylene Terephthalate Market Key Players
• Polyplastics Co., Ltd.
• LG Chemical
• CLARIANT
• SABIC
• TAISEI
• PolyOne
• BASF
• Lanxess
• TORAY
• Shinkong
• A.Schulman Inc.
• Chang Chun Plastics Co. Ltd
• Celanese Corporation
• China National Bluestar Co. Ltd
• DuPont
• Mitsubishi Engineering Plastics Corporation

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Polybutylene Terephthalate Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Polybutylene Terephthalate Market.

2] Who are the top key players in the Polybutylene Terephthalate Market?
Ans. Polyplastics Co., Ltd., LG Chemical, CLARIANT, SABIC, TAISEI, PolyOne, BASF, and Lanxess are the top key players in the Polybutylene Terephthalate Market.

3] Which segment is expected to hold the largest market share in the Polybutylene Terephthalate Market by 2029?
Ans. Reinforced Polybutylene Terephthalate segment is expected to hold the largest market share in the Polybutylene Terephthalate Market by 2029.

4] What is the market size of the Polybutylene Terephthalate Market by 2029?
Ans. The market size of the Polybutylene Terephthalate Market is expected to reach US $2.93 Bn. by 2029.

5] What was the market size of the Polybutylene Terephthalate Market in 2021?
Ans. The market size of the Polybutylene Terephthalate Market was worth US $1.94 Bn. in 2021.