Global Polybutylene Terephthalate (PBT) Market Size Anticipates $4.31 Billion by 2030 with 5.88% CAGR | Polymer Power, Reshaping the Future

New York, NY, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Polybutylene Terephthalate (PBT) Market By Type (Reinforced And Unreinforced), By End-Use (Automotive, Electrical & Electronics, Packaging, And Consumer Goods), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Polybutylene Terephthalate (PBT) Market size & share in terms of revenue was valued at USD 2730 million in 2022 and it is expected to surpass around USD 4310 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.88% during the forecast period 2023 to 2030.”

What is Polybutylene Terephthalate (PBT)? How big is the Polybutylene Terephthalate (PBT) Industry?

Report Overview:

The global polybutylene terephthalate (PBT) market size was evaluated at $2730 million in 2022 and is slated to hit $4310 million by the end of 2030 with a CAGR of nearly 5.88% between 2023 and 2030.

Insulation is a common use for the thermoplastic industrial polymer known as polybutylene terephthalate, or PBT for short. PBT is commonly used in the electrical and electronic industries. In addition, polybutylene terephthalate, or PBT, is resistant to the effects of solvents, shrinks less throughout the production process, and possesses a high level of mechanostrength. In addition to this, it is resistant to heat and can be coated with flame retardants, which will prevent it from catching fire. According to the reports, it has a close relationship with a number of other types of thermoplastic polymers. In addition to this benefit, polybutylene terephthalate provides several other advantages to the designers of passenger and commercial vehicles.

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Global Polybutylene Terephthalate (PBT) Market: Growth Factors

By the year 2030, the global market will have reached new heights of growth thanks to the increased consumption of the product across a variety of end-use industries.

The global market for polybutylene terephthalate (PBT) is expected to experience significant growth as a consequence of the extensive use of PBT in a variety of end-use industries, including the electrical and electronic, automotive, construction, and residential markets. In addition, the product's ability to resist fire has broadened its applicability across a wide variety of end-use industries all over the world. In addition, PBT exhibits remarkable electrical insulating properties and is resistant to heat and chemicals, which enables it to influence the trends of the global market. The expansion of the product's global market has been accelerated by the spike in demand seen for it in the telecommunications and consumer electronics industries.

For the record, polybutylene terephthalate contributes to the reduction of weight in automobiles. As a consequence, fuel consumption has been cut significantly, and fewer fuel emissions have been produced by vehicles. This has, in turn, contributed to an increase in its adoption, which comes at a time when there is a growing emphasis on minimising greenhouse impacts and GHG emissions into the environment. In addition, it is anticipated that the introduction of new products will not only result in an expansion of the company's product offering but will also make a major contribution to the profitability of the worldwide market in the years to come. For instance, in the second quarter of the year 2022, the company Qosina, which is a major provider of single-use products to the pharmaceutical and healthcare industries, introduced pinch clamps made of PBT as an alternative to nylon for use in single-use products.

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Report Scope

Polybutylene Terephthalate (PBT) Market: Segmentation Analysis

The market for polybutylene terephthalate (PBT) on a global scale can be segmented according to type, end-use, and geography. 

The global market for polybutylene terephthalate can be broken down into two categories, reinforced and unreinforced, based on the material's nature. In addition, the reinforced category, which accounted for over half of the total revenue generated by the global market in 2022, is anticipated to report the highest CAGR in the years to come. It is possible that an increase in demand for reinforced polybutylene terephthalate (PBT) across a variety of end-use sectors will be the driving factor behind the expansion of the segment in the years to come.

The global market for polybutylene terephthalate can be segmented into the automotive, electrical & electronics, packaging, and consumer goods submarkets, depending on the end-use application of the product. In addition, it is projected that the automotive sector, which contributed lucratively to the global industry share in 2022, would keep its dominant position in the global industry in the years to come. This prediction is based on the fact that the automotive sector is expected to continue its strong growth. Because of their advantageous characteristics, which include resistance to heat and chemicals, chemical stability, and a strength-to-weight ratio that is equitable, the segmental expansion over the anticipated time period may be subject to huge use of the product in the manufacturing of automobiles.

The global Polybutylene Terephthalate (PBT) market is segmented as follows:

By Type

• Reinforced
• Unreinforced

 By Application

• Automotive
• Electrical & Electronics
• Packaging
• Consumer Goods

Browse the full “Polybutylene Terephthalate (PBT) Market By Type (Reinforced And Unreinforced), By End-Use (Automotive, Electrical & Electronics, Packaging, And Consumer Goods), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/polybutylene-terephthalate-pbt-market

Competitive Landscape

Some of the main competitors dominating the global Polybutylene Terephthalate (PBT) market include - 

• Evonik Industries AG
• Nan Ya Plastics Corporation
• BASF SE
• Daicel Corporation
• DuPont de Nemours Inc.
• Lanxess AG
• Saudi International Petrochemical Company (Sipchem)
• Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
• Koninklijke DSM NV
• Mitsubishi Chemical Corporation
• Celanese Corporation
• Clariant AG
• LG Chem Ltd.
• Chang Chun Group
• Toray Industries Inc.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Polybutylene Terephthalate (PBT) market is likely to expand at a CAGR of around 5.88% during the forecast period (2023-2030).
• In terms of revenue, the Polybutylene Terephthalate (PBT) market size was valued at around US$ 2730 million in 2022 and is projected to reach US$ 4310 million by 2030.
• The global polybutylene terephthalate market is anticipated to record massive growth over the forecast period owing to a humungous application of polybutylene terephthalate (PBT) in electrical, electronics, automotive, construction, and residential sectors.
• In terms of type, the reinforced segment is slated to register the fastest CAGR over the analysis period.
• Based on the end-use, the automotive segment is anticipated to dominate the segment over the projected period.
• Region-wise, the North American polybutylene terephthalate (PBT) market is projected to register the highest CAGR during the assessment timeline.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Polybutylene Terephthalate (PBT) industry?
• What are the main driving factors propelling the Polybutylene Terephthalate (PBT) Market forward?
• What are the leading companies in the Polybutylene Terephthalate (PBT) Industry?
• What segments does the Polybutylene Terephthalate (PBT) Market cover?
• How can I receive a free copy of the Polybutylene Terephthalate (PBT) Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Asia-Pacific is likely to retain its global market dominance during the forecast period

Asia-Pacific, which accounted for half of the global polybutylene terephthalate (PBT) market revenue in 2022, will be the leading region during the projected timeline. Moreover, the growth of the regional market over the expected timespan can be subject to the rise in product preference in the automotive, transport, electrical & electronics, and extrusion sectors in countries such as India and China. Apparently, the presence of giant manufacturers in the sub-continent will majorly influence the market profitability of the region, thereby boosting the regional market trends. 

The North American polybutylene terephthalate (PBT) industry is set to register the highest CAGR in the next couple of years due to the use of the product in the flourishing manufacturing sector in countries such as Canada and the U.S. Increase in the purchase of consumer goods will further proliferate the regional industry demand in the coming years.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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