The Polybutylene Terephthalate (PBT) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Polybutylene Terephthalate (PBT) Global Market Report 2024, The polybutylene terephthalate (pbt) market size has grown strongly in recent years. It will grow from $2.38 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to adoption in new industries, global economic conditions, electrical vehicle adoption, consumer goods and textile applications, advancements in material properties.
The polybutylene terephthalate (pbt) market size is expected to see strong growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to continued focus on lightweight materials, global economic shifts, electrical vehicle (ev) adoption, consumer goods demand, market growth in asia-pacific region. Major trends in the forecast period include demand in automotive industry, electronics and electrical applications, sustainable and recyclable materials, advancements in material properties, miniaturization in electronics.
The growing automotive industry is expected to propel the growth of the polybutylene terephthalate market going forward. The automotive industry refers to all those companies and activities involved in the manufacturing of motor vehicles, including most components, such as engines and bodies. Polybutylene terephthalate provides good durability under thermal stress and/or harsh chemical environments, particularly in automotive under-the-hood applications. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78-million-unit sales, marking a substantial 10% increase. Therefore, the growing automotive industry drives the polybutylene terephthalate market.
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The polybutylene terephthalate (pbt) market covered in this report is segmented –
1) By Type: Reinforced Polybutylene Terephthalate, Unreinforced Polybutylene Terephthalate
2) By Processing Method: Injection Molding, Extrusion, Blow Molding, Other Processing Methods
3) By End-User Industry: Automotive, Extrusion, Electrical And Electronics, Other End-User Industries
Product innovations are the key trends gaining popularity in the polybutylene terephthalate market. Major companies operating in the polybutylene terephthalate market are focused on developing new product solutions to strengthen their position in the market. For instance, in May 2022, BASF, a Germany-based chemicals company launched PBT Ultradur® B4335G3 HR HSP – an all-rounder for reliable protection. With the polybutylene terephthalate (PBT) Ultradur® B4335G3 HR HSP, BASF has developed a material that would protect sensitive electronics from such influences. This product has unique properties such as hydrolysis resistance, good flowability, and reduce melt viscosity, which enables the production of thin-walled components.
The polybutylene terephthalate (pbt) market report table of contents includes:
1. Executive Summary
2. Polybutylene Terephthalate (PBT) Market Characteristics
3. Polybutylene Terephthalate (PBT) Market Trends And Strategies
4. Polybutylene Terephthalate (PBT) Market - Macro Economic Scenario
5. Global Polybutylene Terephthalate (PBT) Market Size and Growth
..............
31. Global Polybutylene Terephthalate (PBT) Market Competitive Benchmarking
32. Global Polybutylene Terephthalate (PBT) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polybutylene Terephthalate (PBT) Market
34. Polybutylene Terephthalate (PBT) Market Future Outlook and Potential Analysis
35. Appendix
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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.Request PDF Sample of the 170-page report on the polybutylene terephthalate market- https://www.factmr.com/connectus/sample?flag=S_id=2406Polybutylene Terephthalate (PBT) Market – Key TakeawaysThe 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 FactorsUse 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.Polybutylene terephthalate (PBT) Market – Key ConstraintsIncreased 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.Explore 102 tables and 81 figures in the study.
Request TOC of the report at- https://www.factmr.com/connectus/sample?flag=RM_id=2406Competition LandscapeThe 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.
