Polybutylene Terephthalate (PBT) Market Size, Share, Analysis, Trends, Growth Report, 2030

Polybutylene Terephthalate (PBT) Industry Prospective:

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.

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Polybutylene Terephthalate (PBT) Market: Overview

Polybutylene Terephthalate (PBT) is a thermoplastic engineering polymer that finds application as an insulator in the electrical and electronics sectors. Furthermore, polybutylene terephthalate (PBT) is solvent-resistant, shrinks less at the time of its formation, and is mechanically strong. Apart from this, it is heat-resistant and can be treated with flame retardants making it non-combustible. Reportedly, it is closely related to various other kinds of thermoplastic polymers. Apart from this, polybutylene terephthalate offers many benefits to passenger & commercial car designers.

Key Insights

• As per the analysis shared by our research analyst, the global polybutylene terephthalate (PBT)  market is projected to expand annually at the annual growth rate of around 5.88% over the forecast timespan (2023-2030)
• In terms of revenue, the global polybutylene terephthalate (PBT) market size was evaluated at nearly $2730 million in 2022 and is expected to reach $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.

Polybutylene Terephthalate (PBT) Market: Growth Factors

The rise in the use of the product in various end-use sectors will help the global market reach new heights of growth by 2030

Humungous application of polybutylene terephthalate (PBT) in electrical, electronics, automotive, construction, and residential sectors will prop up the elevation of the polybutylene terephthalate (PBT) market across the globe. Furthermore, fire-retarding features of the product have enhanced its scope across a plethora of end-use sectors globally. Additionally, PBT demonstrates exceptional electrical insulating features and is resistant to heat & chemicals, thereby steering the global market trends. A surge in demand for the product in the telecommunications and consumer electronics sectors has expedited the size of the global market.

For the record, polybutylene terephthalate helps in reducing weight in automobiles and this has resulted in fuel conservation as well as low fuel emission from vehicles. This, in turn, has enhanced its acceptance as there is a growing focus on minimizing greenhouse effects and GHG emissions in the atmosphere. Moreover, new product launches are predicted to not only expand the product line of the firm but will also contribute sizably towards the global market profitability in the forecasting years. For instance, in the second quarter of 2022, Qosina, a key supplier of single-use products to the pharma and healthcare sectors, launched pinch clamps made up of PBT as a substitute for nylon for single-use products.

Polybutylene Terephthalate (PBT) Market: Restraints

High product sensitivity to water and the need for UV protection outdoors can impede the global industry surge over 2023-2030

Polybutylene terephthalate (PBT) is sensitive to hot water and requires protection against ultraviolet rays when used outdoors and this can affect the demand for the product across various end-use sectors. This, in turn, can decimate the expansion of the polybutylene terephthalate (PBT) industry across the globe.

Polybutylene Terephthalate (PBT) Market: Opportunities

Demand for green & renewable products can assist the global market in unraveling new growth prospects over the forecast timespan

Polybutylene terephthalate is rapidly becoming a sustainable substitute for other products owing to its recyclability and eco-friendly features. This, in turn, is predicted to generate huge growth prospects for the polybutylene terephthalate market globally in the upcoming years.

Polybutylene Terephthalate (PBT) Market: Challenges

Rising raw component prices can prove to be a big challenge for the global industry in the coming decade

The production of polybutylene terephthalate (PBT) requires raw materials such as 1, 4-butanediol and terephthalic acid whose costs can vary due to disparity in their supply and demand. This aspect can interrupt the growth of the polybutylene terephthalate (PBT) industry globally.

Polybutylene Terephthalate (PBT) Market: Segmentation

The global polybutylene terephthalate (PBT) market is sectored into type, end-use, and region.  

In type terms, the global polybutylene terephthalate market is segregated into reinforced and unreinforced segments. Furthermore, the reinforced segment, which garnered nearly half of the global market revenue in 2022, is projected to record the fastest CAGR in the ensuing years. The growth of the segment in the upcoming years can be due to a rise in the demand for reinforced polybutylene terephthalate (PBT) across various end-use industries.

Based on end-use, the global polybutylene terephthalate industry is bifurcated into automotive, electrical & electronics, packaging, and consumer goods segments. Moreover, the automotive segment, which accounted lucratively towards the global industry share in 2022, is anticipated to retain its dominant position in the global industry in the upcoming years. The segmental expansion over the projected timespan can be subject to massive use of the product in automotive production as a result of their beneficial features such as heat resistance, chemical stability, and equitable strength-to-weight ratio.    

Polybutylene Terephthalate (PBT) Market: Report Scope

Polybutylene Terephthalate (PBT) Market: Regional Insights

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.

Polybutylene Terephthalate (PBT) Market: Competitive Space

The global polybutylene terephthalate (PBT) market profiles key players such as:

• 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.

The global polybutylene terephthalate (PBT) market is segmented as follows:

By Type

• Reinforced
• Unreinforced

 By Application

• Automotive
• Electrical & Electronics
• Packaging
• Consumer Goods

By Region

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