Which End User Hold Lucrative Avenues for Polybutylene Terephthalate Manufacturers

As per the latest revised report published by Fact.MR – a market research and competitive intelligence provider, the sales of polybutylene terephthalate (PBT) market is anticipated to exceed a valuation of US$ 2.9 Bn globally in 2021, and expand at an impressive CAGR of more than 6% over the forecast period of 2021 to 2031.

The market is in the growth phase of its lifecycle, registering annual growth of 4.2% from 2016 to 2020. Fact.MR anticipates significant potential in the market, owing to factors such as increasing R&D spending and growing demand for biodegradable PBT polymers.

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As a sustainable alternative to petroleum-based plastics, development of bio-based plastics is one of the aspects where a bulk of R&D investments are focused. In the PBT marketplace, research & developments activities are aimed at making PBT greener and efficient by increasing bio-based content along with incorporation of innovative formulations.

As PBT applications range from automotive and electronics to other plastic-based uses, associated environmental concerns and increasing demand for bio-based solutions have led PBT manufacturers to ramp up efforts to devise biodegradable and renewable forms of PBT. Chemical industry titans such as DSM, DuPont, and BASF have introduced bio-based PBT polymers that are equally efficient as their synthetic counterparts, for multiple applications.

Key Takeaways from Market Study

  • The global PBT market is anticipated to expand at a CAGR of over 6% during 2021-31, and is expected to create an absolute $ opportunity worth US$ 2.5 Bn in the same timeframe.

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  • Demand for PBT is mainly driven by its increased usage in industries such as electrical and electronics, automotive, and consumer goods.
  • East Asia along with Europe has driven the consumption of PBT during the historical period, and cumulatively accounted for over 75% market share in 2020.
  • North America is one of the emerging market growing at a fast pace, and is expected to progress at a CAGR more than 5% through 2031.
  • On the basis of processing method, the market is projected to be dominated by the injection molding method, which will account for around 70%% market share by 2031.

polybutylene terephthalate market region by FactMR

Market Segments Covered in PBT Industry Analysis

By Type

    • Reinforced Polybutylene Terephthalate
      • 15% Reinforced (GF) Polybutylene Terephthalate
      • 30% Reinforced (GF) Polybutylene Terephthalate
      • 50% Reinforced (GF) Polybutylene Terephthalate
      • >50% Reinforced (GF) Polybutylene Terephthalate
    • Unreinforced Polybutylene Terephthalate

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By Processing Method

      • Injection Moulding Polybutylene Terephthalate
      • Extrusion Polybutylene Terephthalate
      • Others

Winning Strategy

The market is moderately fragmented and manufacturers are trying to maintain their long-run dominance in the market. Key manufacturers are constantly involved in developing new product lines to enter new application areas. Moreover, their thirst for market dominance is high owing to the rapidly growing market with higher potential.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/06/17/1869629/0/en/Sodium-Formate-Sales-to-Revive-as-Manufacturers-Emphasize-on-Non-Traditional-Application-Areas-Fact-MR-Study.html

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