The Global PBT PET Market size is expected to grow at a CAGR of 6.1% by 2028. The growth in this market can be attributed to the increasing demand for flexible packaging products owing to their superior properties such as high tensile strength, durability, and non-toxic nature that make them ideal for food packaging.
Polyethylene terephthalate, commonly called PET or PBT, is a thermoplastic polymer that can be transparent and colorless. It was invented by John Rex Whinfield in 1941 in the UK when he worked at the Imperial Chemical Industries (ICI) as their chief chemist. It's used to make fiber for clothing, containers for food and drink, plastic bottles, carpets, tableware, videotapes, and keyboards. PBT is a common thermoplastic used in the manufacturing of engineering plastics. PBT has a high heat resistance and good tensile strength, which makes it an excellent candidate for use as a replacement to thermoset materials such as nylon. Thermally stable up to 260°C (500°F), this resin can be processed by most thermoforming processes. Being high impact resistance and chemical resistance properties it suitable for use in automotive parts & components, electrical equipment & fittings as well as consumer goods applications including toys, bottles, and containers.
On the basis of Type, the global PBT PET market is segmented into Unreinforced and Reinforced.
Unreinforced Polyethylene terephthalate (PBT) is a high-performance thermoplastic resin with excellent optical clarity and toughness. It is used in automotive, electrical, and consumer goods applications such as toys, bottles, and containers that require extremely low permeability to gases or liquids.
Reinforced Polyethylene terephthalate or PBT is a polymer that combines high elasticity, good tensile strength, and excellent dimensional stability. The properties of this resin make it an ideal candidate for use in automotive parts & components, electrical equipment & fittings as well as consumer goods applications including toys, bottles, and containers.
On the basis of Application, the global PBT PET market is segmented into Automotive & Components, Electrical Equipment & Fittings, Consumer Goods.
Polyethylene terephthalate (“PBT”) is a thermoplastic polymer that has numerous applications in the automotive industry. It is used to create fuel tanks, bumpers, and other body parts; it also provides protection for wires from heat and corrosive chemicals inside of the engine compartment. In addition, PBTs are often blended with polypropylene or nylon chain-link reinforcements to make them stronger.
Polyethylene terephthalate (PET) is used in electrical equipment and fittings. These are components that are required for the construction of electric machineries, such as control panels, instruments, and meters, switches, circuit breakers, etc. They can be rigid or flexible depending on the end-use requirements.
The major use of PET in the consumer goods industry is for coating materials. They are also used as a lining or cover on food and beverage containers. In addition, they can be employed to produce items like disposable cutlery and tableware, artificial flowers, wigs, hats, raincoats, umbrellas, and other similar products.
On the basis of Region, the global PBT PET market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American region is the largest market for PBT PET with a share of about 57% in 2017. North America is expected to have a significant contribution to global PBT PET demand owing to expanding automotive sector. Further, the growing disposables manufacturing industry will also contribute significantly towards regional growth. The US accounts for more than half of the total revenue share in this geographic area due to high penetration rates across key end-user industries such as construction and transportation equipment manufacturers. In fact, it has been estimated that vehicle production in Mexico alone has tripled over the last few years with an increase from 275K units per year between 2011 - 2013 to about 750 K vehicles by 2018 (Source: IHS Automotive).
-Value of PET bottles replacing the glass and metal containers for beverage, food, and other packaging solutions.
-Increasing disposable income in emerging markets such as China, India, Brazil, etc. leading to increased demand for consumer goods with higher plastic content.
-Growing focus on environment protection initiatives by government bodies across the globe is driving the adoption of reusable alternatives that are lighter weight than conventional materials like metals or glass which reduces transportation costs associated with their use.
-Chemists are in demand to develop new and improved materials for a wide range of applications. Diversification of the production process is also driving growth due to increased costs associated with energy, feedstock, natural resources, etc.
Up Market Research published a new report titled “PBT PET Sales 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”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | PBT PET Sales 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 | 244 |
Number of Tables & Figures | 171 |
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 Sales 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 Sales 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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