Global Polybutylene Terephthalate (PBT) Market: Valued at USD 3.25 Billion in 2024 & to Record 6.2% CAGR in 2024-32
As per the research report by Report Cube, the Global Polybutylene Terephthalate (PBT) Market size was valued at nearly USD 3.25billion in 2024, and is estimated to grow at a CAGR of about 6.2% during the forecast period, 2024-32.
A polymer in the polyester family is polybutylene terephthalate (PBT). With characteristics akin to those of polyethylene terephthalate PET, it is a semi-crystalline thermoplastic. PBT is utilized in the manufacturing of seat belts, fuel system components, windshield wiper covers, connectors, and handles for automobiles made of cast iron, ceramic, stainless steel, and bronze. It is one of the top five semi-crystalline polyesters & polymers for engineering purposes with outstanding strength, toughness, and rigidity. It is also very lightweight & temperature-resistant and is utilized in numerous OEM applications. PBT’s inherent material qualities, like its strength-to-weight ratio, resistance to weathering (chemical stability), and heat tolerance, have allowed it to partly substitute conventional materials, like bronze, stainless steel, ceramic, and cast iron.
Furthermore, it is predicted that the industry would rise as PBT becomes more broadly used in the electronics, construction, residential, and electrical sectors. The fire-retarding properties of polybutylene terephthalate have increased the product’s usage in a variety of end products worldwide. PBT’s exceptional chemical & heat resistance, as well as its electrical insulating capabilities, propel the market. Also, the PBT Market is presumed to expand in size in the following years owing to the predicted increase in demand from end-user industries.
Moreover, the increased heat & chemical resistance that PBT is predicted to possess could be advantageous for fuel systems, high-temperature applications, and fluid handling systems. Additionally, another aspect limiting demand is the presence of alternatives, such as PBT that have very identical features. Also, as PBT is increasingly being utilized in the manufacturing of both exterior & interior body elements for electric vehicles, it is foreseen that the market would undergo tremendous growth in the coming years, further states the research study, Polybutylene Terephthalate (PBT) Market Analysis, 2024.
Analyzing the Polybutylene Terephthalate (PBT) Market Segmentation
Automotive Sector to Capture Largest Portion of the PBT Market
By end user, the Polybutylene Terephthalate (PBT) Market is bifurcated into: Aerospace, Automotive, Building & Construction, Electrical & Electronics, and Packaging.
In the Polybutylene Terephthalate (PBT) Market, the Automotive segment captured the largest share and is envisioned to uphold this position in the forthcoming years. The automotive sector is concentrating more & more on lighter vehicles to lessen emissions & boost fuel efficiency. PBT is a high-performance, lightweight thermoplastic that can be employed to lower the overall weight of cars & change heavy metal parts. Moreover, PBT’s remarkable mechanical durability, resilience, and strength make it the perfect material for a diversity of automobile parts, including switches, sensors, and electrical system housing. Also, its thermal stability safeguards consistent performance in heated environments, like engine compartments.
Asia-Pacific to Lead the Global Polybutylene Terephthalate (PBT) Market
The primary contributor to the Global PBT Market in the forthcoming years was the Asia-Pacific region as it grabbed the potential market share. The mounting popularity of goods in the transportation, extrusion, and automotive industries in nations like China & India is anticipated to have an impression on the regional market's growth prospects. Furthermore, the progress of the Asia-Pacific Polybutylene Terephthalate (PBT) Market will be enriched by the presence of prominent market businesses throughout the Asia-Pacific region.
Polybutylene Terephthalate (PBT) Market Companies Analysis
With the strategic analysis & market study the leading companies, including BASF SE, Saudi Basic Industries Corporation (Saudi Arabian Oil Co), Celanese CorporationClariant AG, Daicel Corporation, Evonik Industries AG, Toray Industries Inc., Mitsubishi Chemical Corporation, Chang Chun Group, Nan Ya Plastics Corporation, LG Chem Ltd., are predicted to contribute in the growing market outlook.