Global Polybutylene Terephthalate (PBT) Market to Reach 1.5 Million Metric Tons by 2026

SAN FRANCISCO, March 11, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Polybutylene Terephthalate (PBT) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 21; Released: February 2022
Executive Pool: 5327
Companies: 57 - Players covered include Almaak International GmbH; Avient Corporation; BASF SE; China National BlueStar (Group) Co, Ltd.; Covestro AG; Celanese Corporation; Chang Chun Group; Royal DSM N.V.; DuPont de Nemours, Inc.; Enviroplas, Inc.; Evonik Industries AG; Jiangsu Heshili New Material Co., Ltd.; Lanxess AG; LG Chem Ltd.; Mitsubishi Chemical Corporation; Nan Ya Plastics Corporation; Polyplastics Co., Ltd.; Radici Partecipazioni SpA; SABIC; SASA Polyester Sanayi A.S.; Saudi International Petrochemical Company (Sipchem); Toray Industries, Inc.; Yingkou Kanghui Petrochemical Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Automotive, Electronics & Electrical, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Polybutylene Terephthalate (PBT) Market to Reach 1.5 Million Metric Tons by 2026
Polybutylene terephthalate or PBT is a semi-crystalline, synthetic and semi-aromatic engineered thermoplastic representing the second-leading commercial polyester in terms of significance. Polybutylene Terephthalate (PBT) is a saturated polyester derived from terephthalic acid, butanediol (BDO) and dimethyl terephthalate (DMT). A white or off-white, semi-crystalline thermoplastic polyester, PBT exhibits properties and composition similar to that of polyethylene terephthalate (PET). The material comes under the polyester resin category. Amid the COVID-19 crisis, the global market for Polybutylene Terephthalate (PBT) estimated at 1.3 Million Metric Tons in the year 2022, is projected to reach a revised size of 1.5 Million Metric Tons by 2026, growing at a CAGR of 4.7% over the analysis period. Automotive, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach 648.1 Thousand Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electronics & Electrical segment is readjusted to a revised 4.2% CAGR for the next 7-year period. This segment currently accounts for a 35.5% share of the global Polybutylene Terephthalate (PBT) market. Automotive industry represents the largest end-use market for PBT. PBT is widely used in automotive electrical components as well as exterior and interior automotive parts such as fuel system components, fuse boxes, handles, ignition system components, mirror housings, windshield wipers and vents. The high preference for PBT-based products in the automotive industry is due to properties such as rigidity, strength, dimensional stability, weather and heat resistance, along with resistance to lubricants and fuels. The prevailing business climate in the automotive industry therefore tends to impact market prospects for PBT.

The U.S. Market is Estimated at 140.3 Thousand Metric Tons in 2022, While China is Forecast to Reach 561.9 Thousand Metric Tons by 2026
The Polybutylene Terephthalate (PBT) market in the U.S. is estimated at 140.3 Thousand Metric Tons in the year 2022. The country currently accounts for a 11.24% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 561.9 Thousand Metric Tons in the year 2026 trailing a CAGR of 6.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR while Rest of European market (as defined in the study) will reach 599.5 Thousand Metric Tons by the close of the analysis period.

Manufacturers of PBT will continue to remain focused on developing recyclable PBT without compromising the chemical and mechanical properties. Future growth in the PBT market will be defined by the development of innovative material grades by manufacturers to meet the evolving requirements in various application markets. PBT is slated to maintain its high relevance and popularity across a diverse range of industrial applications. The polymer will enjoy lucrative growth opportunities in the automotive industry owing to increasing focus of automakers on lightweight, high-resistance, cost-effective and low-maintenance materials. While traditional PBT materials continue to draw growth in less demanding applications, the introduction of new PBT grades with better performance attributes such as improved electrical performance, hydrolysis resistance, chemical resistance, and outstanding melt stability is redefining future growth patterns. For example, PBT materials can be treated with flame retardants for making the polymer noncombustible. Such materials function in combination with several thermoplastic polyesters for covering or framing electrical devices. PBT molding compounds are also being used for laser welding, which finds use in applications such as automobile housings as it enables welding of disparate materials of varied dimensions. The advantages offered by laser technology help lower production costs, thus lowering product costs and enabling manufacturers to compete on price.

One of the major factors that will drive growth in the PBT market is the rapidly increasing adoption of engineered plastics in various end-use applications. Engineered plastics are considered to be chemical resistant and also exhibit superior heat resistance properties, thus making them apt for use in fluid handling systems, fuel systems as well as high temperature applications. The engineered plastics market is also influenced by the level and rate of replacement of traditional materials. In developed economies, there has been a significant conversion from metal to engineered plastics in almost all major industries. On the other hand, in developing nations, there is gross underutilization of engineering plastics, with per capita consumption level of less than half kg in some countries of the Asia-Pacific. With improvement in the manufacturing sector, demand for PBT thermoplastic materials will also witness a parallel improvement in the upcoming years. The auto making industry in Asia-Pacific will continue to use PBT in several high end models. More

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