Polybutylene Terephthalate Market size is set to grow by USD 659.75 mn from 2023-2027, growing use of polybutylene terephthalate in medical applications boost the market- Technavio

NEW YORK, March 12, 2024 /PRNewswire/ -- The global polybutylene terephthalate market size is estimated to grow by USD 659.75 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  5% during the forecast period. The  PBT's adoption in the manufacturing sector is significant due to its high strength, rigidity, and ability to take on various colors. This material offers toughness, low creep, and resistance to a wide range of chemicals, solvents, oils, and greases. PBT thermoplastic materials are essential in the medical industry for manufacturing medical devices, drug delivery devices, injection pens, and autoinjectors. In the automotive sector, PBT is used for producing components like fuel system components, windshield wiper covers, connectors, and seat belts. Its excellent electrical resistance and dielectric strength make it suitable for electrical and electronic components. The production of PBT involves the polycondensing of terephthalic acid and 1,4–butanediol using special catalysts. 
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Key Company

Polybutylene Terephthalate Market  is fragmented, the vendors are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Polybutylene Terephthalate Market report includes information on the product launches, sustainability, and prospects of leading vendors including BASF SE, Celanese Corp., Chang Chun Group, China Petrochemical Corp., Daicel Corp., DuPont de Nemours Inc., Kingfa SCI. and TECH. Co. Ltd., Kolon Plastics Inc., Lanxess AG, LG Chem, LyondellBasell Industries NV, 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., Toray Industries Inc., Sinochem Group Co. Ltd. .

The adoption in the manufacturing sector, particularly in the automotive industry, is attributed to its excellent long-term thermal, chemical, and weather resistance, electrical characteristics, and high hydrolysis stability in hot and humid conditions. PBT is used in various automotive components such as fuel system components, windshield wiper covers, connectors, seat belts, and electrical and electronic components. Key vendors like Lanxess and BASF provide PBT-based compounds with special catalysts, polycondensing terephthalic acid, and 1,4–butanediol for improved laser transparency and hydrolysis stability. PBT replaces traditional materials like cast iron, stainless steel, bronze, and ceramic-based automobile handles, offering advantages in weight reduction, cost savings, and enhanced performance. 

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Geographic Landscape

The Global PBT Market is experiencing growth in APAC, driven by industries like automotive, construction, medical devices, and electronics. In automotive, PBT is used for fluid handling systems, high-temperature applications, fuel systems, and electrical encapsulation materials. China, Japan, and India are key contributors due to rising automobile demand. However, economic downturns and government restrictions impact China's automotive industry. PBT is also used in electrical insulation polymers and electrical and electronic plastics. The market includes extrusion and blow molding processes. Research and innovations focus on eco-friendly materials like Bio-based PBT. The market is segmented into Automotive, Extrusion Products, and Rest of the World. PBT is used for interior and exterior body parts, and in electrical insulation and electrical encapsulation. Capital expenditure for PBT is influenced by trends in fuel systems and electric vehicles.

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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 by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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