- 170 Pages Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider, Highlights Key Factors Driving the Growth of Polybutylene Terephthalate (PBT)Market Over the Forecast Period 2021-2031
- The polybutylene terephthalate (PBT)market survey offers compelling insights into key factors impacting growth across key segments, including types and processing method. It also highlights strategies adopted by vendors to increase sales in the polybutylene terephthalate (PBT)market
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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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.
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.
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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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:
Chang Chun Group
Duromer Products Pty Ltd
Nan Ya Plastics
Polyplastics Co., Ltd.
Sahara International Petrochemicals Co.
Toray Industries, Inc.
More Valuable Insights on Polybutylene Terephthalate (PBT) Market
Polybutylene Terephthalate for Electrical & Electronics
Transformer Coil Bobbins
Adapter Coil Bobbins
CRT & Potentiometer Stands
Motor Cover and Bushings
Polybutylene Terephthalate for Consumer Goods
Polybutylene Terephthalate for Machinery
Transport machinery parts
Textile Machinery Parts
Power Tool Parts
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
Explore Fact. MR's Coverage on the Chemical & Materials Domain
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