Global Polybutylene Terephthalate (PBT) market outlook 2024, Forecast To 2033
4 Mar, 2024
The polybutylene terephthalate (PBT) market size has witnessed robust growth in recent years, rising from$2.38 billion in 2023 to$2.52 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.8%. This growth in the historic period can be attributed to its adoption in new industries, global economic conditions, electrical vehicle adoption, consumer goods, and textile applications, as well as advancements in material properties. Looking ahead, the market is expected to maintain its momentum, reaching$3.15 billion in 2028, driven by a continued focus on lightweight materials, global economic shifts, electrical vehicle (EV) adoption, consumer goods demand, and market growth in the Asia-Pacific region. Major trends in the forecast period include demand in the automotive industry, electronics and electrical applications, sustainable and recyclable materials, advancements in material properties, and miniaturization in electronics.
Global Polybutylene Terephthalate (PBT) Market Key Driver
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. The 2023, 2024, and 2028 market size values underscore the critical role of polybutylene terephthalate in automotive applications as manufacturers seek durable and reliable materials to meet performance and safety standards, thus driving market growth.
Get A Free Sample Of The Global Polybutylene Terephthalate (PBT) Market ReportGlobal Polybutylene Terephthalate (PBT) Market Segments
The global 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
By Geography: The regions covered in the polybutylene terephthalate (pbt) market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the polybutylene terephthalate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polybutylene terephthalate (pbt) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Polybutylene Terephthalate (PBT) Industry Players
Celanese Corporation, Evonik Industries AG, Saudi Basic Industries Corporation, BASF SE, Chang Chun Group, DuPont de Nemours Inc., Lanxess AG, Koninklijke DSM N.V., Nan Ya Plastics Corporation, Toray Industries Inc., Mitsubishi Chemical Holdings Corporation, Clariant AG, Daicel Corporation, LyondellBasell Industries Holdings B.V., Röchling SE & Co KG, RTP Company Inc., Duromer Products Pty. Ltd., Avient Corporation, Dow Inc., Polyplastics Co. Ltd., Teijin Limited, PolyOne Corporation, Lotte Chemical Corporation, E. I. du Pont de Nemours and Company, Polyram Plastic Industries, SK Chemicals Co. Ltd., WinTech Polymer Ltd., Polymeric Resources Corporation, Lion Idemitsu Composites Co. Ltd., Grupa Azoty S.A., Zhejiang NHU Special Materials Co. Ltd., KOLON Industries Inc., Jiangsu Heshili New Material Co. Ltd., Koch Industries, Kuraray Co. Ltd.
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Polybutylene Terephthalate (PBT) Market Overview
Polybutylene terephthalate refers to a high molecular semicrystalline engineering thermoplastic and a powerful, extremely crystalline synthetic resin created by the polymerization of terephthalic acid with butanediol.
Polybutylene Terephthalate (PBT) Global Market Report 2023 provides data on the global polybutylene terephthalate (pbt) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The polybutylene terephthalate (pbt) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.