The Global PBT PET Market size is projected to grow from over USD 1.5 billion in 2021 to more than USD 2.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The major factors driving the growth in this Market include increasing demand for PBT products and steady growth in the automotive sector. However, the high cost of production could hamper the growth of this market over the next few years.
Polybutylene terephthalate (PBT) is a polyester thermoplastic resin. It is offered in crystalline and amorphous form. PBT has excellent mechanical, chemical, electrical properties and thermal resistance which make it suitable for use in applications such as automotive parts, medical devices, plumbing fixtures, and consumer merchandise packaging among others. PBT PET has the thermal stability of both type-A crystalline polyesters, such as PETG or PTTGA. This makes it an excellent choice for high-performance applications that require extreme temperature range exposure.
On the basis of Types, the market is segmented into Unreinforced and Reinforced.
Unreinforced is a type of plastic that has no reinforcing fibers or materials. Unreinforced PET plastics are typically used in applications such as food packaging, bottle manufacturing, and some clothing items. They have high permeability for moisture vapor transmission but limited mechanical strength properties due to their lack of reinforcements, which makes them sensitive to tears and punctures.
Unreinforced plastics are also used in the manufacturing of household appliances such as irons and microwaves, along with other electrical devices. Some applications for unreinforced PET include non-food products that require plastic to be lightweight or have low moisture vapor transmission properties, such as fabrics containing recycled materials and clothing packaging made from recyclable material.
Reinforced PET is a form of PBT plastic that has added strength. It can be used in applications such as car bumpers, electrical insulation, and textiles. Reinforced PET products are less expensive than traditional metal-based counterparts because it’s made with cheaper raw materials like recycled plastics.
It's also a more environmentally friendly option for the manufacturing industry since there is no need to extract metal from mined sources or recycle metals already on the market. This helps reduce pollution caused by mining, smelting, and processing coal into coke (a feedstock). Furthermore, recycling one tonne of this material creates three tonnes worth of polymer so they offer significant environmental benefits over other types of plastics without giving up any performance qualities.
On the basis of Application, the market is segmented into Automotive, Electrical, Consumer Goods, and Others.
PBT PET is extensively used in automotive for various applications such as dashboards, headliners, and instrument panels. The use of PBT PET aids to reduce weight and maintain a high level of strength without compromising on quality. Increasing demand from North America owing to replacement rates may support growth over the forecast period.
PBT PET is increasingly being used in the electrical industry for insulation and as an electric-to-electrical connector. Its insulating ability reduces the chance of a short circuit, while its flexibility makes PBT PET easier to use than PVC or other plastics that are more rigid.
PBT PET is an emerging material in the consumer goods industry. It offers properties that are lighter and more flexible than traditional materials like glass, which can make it a suitable alternative for building packaging. PBT also has the potential to be recycled into new products while still retaining its original quality of clarity or transparency, depending on what type of resin was used during production.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North American was the largest contributor globally due to its large consumption rate per capita as compared to other parts of the world. As such, there has been an increase in the consumption of PET containers, and this has led to a growth in the demand for PBT.
The global PBT PET market is driven by the increasing demand for lightweight materials in automobiles, electrical, and consumer goods. In addition, consumers are driving the growth of this market due to their preference for environmentally friendly products that do not contain harmful chemicals such as BPA or phthalates. PBT PET also offers a superior barrier from water vapor and gases which makes it ideal for packaging food items with sensitive contents such as meat, seafood, or cheese. It can be used for various applications including automotive components (dashboards), electronics parts (wire insulation), etc. Emerging economies such as India and China are expected to boost future consumption rates globally.
Up Market Research published a new report titled “PBT PET Market research report which is segmented by Types (Unreinforced, Reinforced), By Applications (Automotive, Electrical, Consumer Goods, Other), By Players/Companies BASF, SABIC, DSM, Lanxess AG, LG Chem, Polyplastics”.
Report Attributes | Report Details |
Report Title | PBT PET Market Research Report |
By Type | Unreinforced, Reinforced |
By Application | Automotive, Electrical, Consumer Goods, Other |
By Companies | BASF, SABIC, DSM, Lanxess AG, LG Chem, Polyplastics |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Unreinforced, Reinforced and By Application Automotive, Electrical, Consumer Goods, Other.
Some of the companies that are profiled in this report are:
PBT PET Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the PBT PET Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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