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

UNITED STATES, March 16, 2022 /EINPresswire.com/ -- As per the latest revised report published by Fact.MR - a market research and competitive intelligence provider, the global 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.

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.

Request a sample to get extensive insights into the Polybutylene Terephthalate (PBT) Market at https://www.factmr.com/connectus/sample?flag=S&rep_id=2406

What are the Challenges Faced by PBT Suppliers?
Existence of alternate products with almost identical properties are curtailing demand for polybutylene terephthalate. Several manufacturing companies are targeting PBT supply by offering reliable substitutes for it.

For instance, Shell Chemical is focusing on production of polytrimethylene terephthalate (PTT) as a replacement for PBT. In the year 2019, the company announced a cluster of commercial-scale expansions to serve markets related to PBT. The company also planned to sell 600 million pounds worth of PTT as a replacement of PBT.

Like PBT, PTT’s primary monomer is terephthalic acid (TPA), but PBT contains 1,4 butanediol and PPT uses 1,3 propanediol as its glycol. Keeping aside the difference in chemistry, the properties of polytrimethylene terephthalate (PTT), including flexural modulus, tensile strength, and heat deflection temperature are quite similar to PBT. Moreover, the substitute has already penetrated the market, and is likely to affect demand for PBT over the long-run forecast period.

Market Segments Covered in PBT Industry Analysis
By Type
• Reinforced Polybutylene Terephthalate
o 15% Reinforced (GF) Polybutylene Terephthalate
o 30% Reinforced (GF) Polybutylene Terephthalate
o 50% Reinforced (GF) Polybutylene Terephthalate
o >50% Reinforced (GF) Polybutylene Terephthalate
• Unreinforced Polybutylene Terephthalate

By Processing Method
• Injection Moulding Polybutylene Terephthalate
• Extrusion Polybutylene Terephthalate
• Others

By End Use
• Polybutylene Terephthalate for Automotive
o Body Panels
o Ignition Coil Bobbins
o Covered Insulations
o Exhaust System part
o Ignition System
o Others
• Polybutylene Terephthalate for Packaging
o Food Products
o Cosmetics
• Polybutylene Terephthalate for Electrical & Electronics
o Transformer Coil Bobbins
o Adapter Coil Bobbins
o Deflection Coils
o CRT & Potentiometer Stands
o Switching connectors
o Motor Cover and Bushings
o Others
• Polybutylene Terephthalate for Consumer Goods
o Sporting Goods
o Kitchen Appliances
o Others
• Polybutylene Terephthalate for Machinery
o Transport machinery parts
o Sewing Machines
o Textile Machinery Parts
o Power Tool Parts
o Others

To learn more about Polybutylene Terephthalate (PBT) Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=2406

PBT Industry Research on Competitive Landscape
According to the market research analysis, BASF SE, Amco Polymers, Celanese Corporation, SABIC, DuPont, Lanxess AG, and Mitsubishi Chemical Corporation are identified as key players manufacturing PBT.

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Some of the key strategies include innovation, collaborations with key players, partnerships, strategic alliances in order to strengthening of regional and global distribution networks.

• On 24th March 2020, Celanese Corporation announced a three-year plan to expand their engineered materials compounding capacities in Asia, locations including Suzhou and Nanjing in China and Silvassa in India.
• On 2nd January 2019, Celanese Corporation acquired one of India's largest engineering thermoplastic compounders, named Next Polymer Ltd.
• On 26th February 2019, SABIC announced Amco Polymers as the third distribution partner in North America to provide specialty engineering thermoplastic and related services in the US, Canada and Mexico.
• On 3rd July 2020, BASF announced two new product variants in the market, named Ultradur^® B6551 LNI for extrusion and Ultradur^® B6560 M2 FC TF, the world’s first thermo formable PBT.

Key Companies Profiled
• DSM
• Röchling
• RTP Company
• Chang Chun Group
• Duromer Products Pty Ltd
• Nan Ya Plastics
• Polyplastics Co., Ltd.
• Sahara International Petrochemicals Co.
• Samyang Corporation
• Toray Industries, Inc.

Stuck in a neck-to-neck competition with other brands? Purchase a copy of report on Polybutylene Terephthalate (PBT) Market at- https://www.factmr.com/checkout/2406

How Has the COVID-19 Pandemic Impacted Sales of PBT across the Globe?
Despite decline in sales of PBT in FY2020, investors’ confidence level is firm owing to the strong potential of PBT. Major investors in China and Europe have pinned their hopes on the market owing to less demand in FY2020 and speculations of a surge going ahead.

Speculation has surged production and also normalized inventory volumes, thus providing a thrust to PBT prices in Q1 of FY2021. Prices are anticipated to reach a nominal level by the mid of Q2 FY2022.

Check out more studies related to Chemical & Materials Industry, conducted by Fact.MR:

Softwood Pulp Market: https://www.factmr.com/report/softwood-pulp-market

Super Absorbent Polymers Market: https://www.factmr.com/report/superabsorbent-polymers-market

Bonded Magnet Market: https://www.factmr.com/report/bonded-magnet-market

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