Prominent players in polybutylene terephthalate (PBT) market are focusing on capacity expansions to widen the scope of their regional footprints in untapped markets.
ROCKVILLE, MD / ACCESSWIRE / March 12, 2020 / The polybutylene terephthalate (PBT) industry is projected to rise at a healthy CAGR of 5.6% between 2019 and 2029. High demand in electrical and automotive applications is the predominant factor driving sales. Rising demand for automation, electrical encapsulation and insulation also aids the growth of polybutylene terephthalate market, reveals Fact.MR in its new study.
"Global consumption of PBT is set to rise on the back of increasing applications in electronics and automotive industries. In 2018, PBT sales were expected to generate over US$ 2.5 billion in market revenues," concludes the Fact.MR report.
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Polybutylene Terephthalate (PBT) Market - Key Takeaways
- The electrical and electronics segment will account for two fifths of the global polybutylene terephthalate (PBT) market, on the back of high versatility in industry verticals.
- Automotive applications will display strong growth through the forecast period, on account of the demand for light-weight, fuel-efficient vehicles.
- Greater China will account for more than 62% of regional consumption through the forecast period.
- Asia Pacific excluding Japan will remain the major regional market for polybutylene terephthalate (PBT), accounting for more than 50% of global consumption.
Polybutylene Terephthalate (PBT) Market - Key Driving Factors
- Use of PBT in interior and exterior components of electric vehicles majorly contribute towards demand growth.
- Characteristics such as superior heat aging, dimensional stability, and hydrolytic resistance are significant drivers for the polybutylene terephthalate (PBT) market.
- High speed and high frequency processes in electricals and electronics support the demand for polybutylene terephthalate.
- Increase in film extrusion and thermoformed packaging applications will offer a prominent push to polybutylene terephthalate (PBT) market.
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Polybutylene terephthalate (PBT) Market - Key Constraints
- Increased competition from other forms of engineered plastics, restricts the use of polybutylene terephthalate (PBT) consumption to an extent.
- Issues of brittle fractures in PBT would remain an important and longstanding challenge to the growth of market.
Competition Landscape
The global polybutylene terephthalate (PBT) market is consolidated. Leading players profiled in the report include, but are not limited to BASF SE, Toray Industries, DuPont, Spichem, and Lanxess. Market leaders are pushing for organic and inorganic growth strategies, for regional expansion. Competitors are investing in developing application specific products to consolidate their market position, as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the polybutylene terephthalate (PBT) market. Global, regional and country level analysis of the latest industry trends impacting the polybutylene terephthalate (PBT) market are covered in this Fact.MR study. The report offers compelling insights on polybutylene terephthalate (PBT) market on the basis of grade (reinforced and unreinforced), application (electrical & electronics, automotive, consumer appliances, industrial, extrusion and others), across six regions (Middle East and Africa, Asia Pacific excluding Japan, Japan, Europe, Latin America, North America).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Chemicals & Materials sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest chemical industry market reports and industry analysis help businesses navigate challenges and take
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SOURCE: Fact.MR
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