Polybutylene Terephthalate Market size is set to grow by USD 736.3 million from 2024-2028, Increasing demand for polybutylene terephthalate in automotive industry boost the market, Technavio

NEW YORK, June 27, 2024 /PRNewswire/ -- The global polybutylene terephthalate market size is estimated to grow by USD 736.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.29%  during the forecast period. Increasing demand for polybutylene terephthalate in automotive industry is driving market growth, with a trend towards increasing capacity expansion by market vendors. However, fluctuating crude oil prices  poses a challenge. Key market players include BASF SE, Celanese Corp., Chang Chun Group, China Petrochemical Corp., Daicel Corp., DuPont de Nemours Inc., Kingfa SCI. And TECH. Co. Ltd., Kolon Industries Inc., Lanxess AG, LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Chemical Corp., Mitsui and Co. Ltd., Radici Partecipazioni Spa, RTP Co., S.S.B. POLYMERS and S.S.B. ENTERPRISES, Samyang Corp., Saudi Basic Industries Corp., Sinochem Group Co. Ltd., and Toray Industries Inc..

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Market Driver

The global polybutylene terephthalate market is experiencing significant growth due to increasing demands from the automotive and electrical and electronics industries. Vendors, including Lanxess and BASF, are responding by expanding production capacities. Lanxess is building a second line in China, while BASF is increasing production by 5,000 metric tons per year in Malaysia. These expansions will help maintain market positions and positively impact the market throughout the forecast period. 

The Polybutylene Terephthalate (PBT) market is experiencing significant growth due to its versatile applications in various industries. Consumers are increasingly seeking out PBT's unique properties, such as its high strength, excellent electrical insulation, and resistance to chemicals and moisture. PBT is commonly used in the automotive industry for producing engine and transmission parts, as well as electrical connectors. In the consumer electronics sector, PBT is utilized in the production of mobile phone components and computer housings. Additionally, PBT's durability and resistance to temperature changes make it an ideal choice for use in the construction industry for producing pipes and fittings. The market for PBT is expected to continue growing, driven by increasing demand from these industries and the material's superior performance compared to traditional materials. Moreover, the use of PBT in the production of sustainable and eco-friendly products is also on the rise, making it a trending choice for companies looking to reduce their carbon footprint. Overall, the future looks bright for the Polybutylene Terephthalate market. 

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Market Challenges

• The global Polybutylene Terephthalate (PBT) market growth is influenced by fluctuating crude oil prices. The increase in oil prices results in higher raw material costs due to the derivation of PBT's key components from crude oil and natural gas. This trend has led industries, particularly automotive, consumer goods, and medical, to seek eco-friendly alternatives. Geopolitical issues, such as the Russian invasion of Ukraine, further exacerbate oil price volatility, directly impacting PBT production costs and market expansion during the forecast period.
• The Polybutylene Terephthalate (PBT) market faces several challenges. Terpthalic and butylene monomers are essential for PBT production. However, their availability and price volatility pose a significant challenge. The market also faces competition from other polymers like Polyethylene Terephthalate (PET) and Polypropylene (PP). The recycling of PBT is another challenge due to its complex structure. The use of PBT in automotive and electrical applications increases its demand, but the high cost and availability issues persist. The market requires sustainable solutions to address these challenges and ensure its growth. The industry must focus on improving production efficiency, reducing costs, and enhancing the recyclability of PBT to remain competitive.

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Segment Overview 

This polybutylene terephthalate market report extensively covers market segmentation by  

1. Application 
• 1.1 Electrical and electronics
• 1.2 Automotive
• 1.3 Household appliances
• 1.4 Extrusion products
2. Type 
• 2.1 Industrial grade
• 2.2 Commercial grade
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Electrical and electronics-  The Polybutylene Terephthalate (PBT) market is experiencing steady growth due to its versatile applications in various industries. PBT is widely used in automotive, electrical and electronics, and consumer goods sectors. Its unique properties, such as high durability, excellent electrical insulation, and resistance to heat and chemicals, make it a preferred choice for manufacturers. The market is driven by increasing demand for lightweight and durable materials in automotive and consumer goods industries. Additionally, the growing trend towards sustainable manufacturing and recycling of PBT is expected to further boost the market.

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Research Analysis

The Polybutylene Terephthalate (PBT) market encompasses the global production and consumption of engineered plastics, specifically PBT, in various industries. Key applications include automobile parts, such as coil cases for electric vehicles, and consumer electronics. PBT is a thermoplastic polyester resin derived from Terephthalic acid and butanediol. Its unique properties, including high heat resistance and excellent electrical insulation, make it an ideal choice for these applications. The manufacturing process for PBT involves techniques like injection molding, extrusion, and blow molding, resulting in various extrusion products. The global PBT market is driven by the growth in vehicle production and the increasing demand for electric vehicles. The automotive market and consumer electronics sectors are the primary consumers of PBT, contributing significantly to its industry overview. Engineered plastics, including PBT, are increasingly replacing traditional materials due to their superior properties and cost-effectiveness.

The Polybutylene Terephthalate (PBT) market refers to the global trade of PBT, a type of engineering thermoplastic. PBT is known for its excellent electrical insulation properties, high heat resistance, and good chemical resistance. It is widely used in various industries, including automotive, electrical and electronics, and consumer goods. The production process of PBT involves the polycondensation of terephthalic acid and 1,4-butanediol. The global PBT market is expected to grow significantly due to increasing demand from end-use industries and the ongoing trend towards lightweighting in automotive applications. The market is also driven by the rising demand for sustainable and eco-friendly materials in various industries. The future of the PBT market looks promising, with continued innovation and development in the field of engineering thermoplastics.

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Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Electrical And Electronics
• Automotive
• Household Appliances
• Extrusion Products
• Type
• Industrial Grade
• Commercial Grade
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio