H1 2023: In the first half of 2023, the Polybutylene Terephthalate (PBT) market in the Asia Pacific region witnessed dynamic price movements. During the first quarter of 2023, PBT prices displayed varied market sentiments due to a slowdown in downstream automotive industry demand and limited stock availability. Simultaneously, rise in the feedstock Butanediol (BDO) prices, created supply tightness in the PBT market, leading to elevated commodity prices to pass on the cost pressure to Asian consumers. In summary, the narrowing demand-supply gap contributed to an overall upward trend in Asian PBT prices in the quarter ending March 2023. Moving into the second quarter, PBT prices in the APAC market rose, causing concern among market participants due to supply disruptions and inventory shortages. Fluctuating upstream material costs, including PTA and BDO prices in China, significantly impacted the PBT market in Q2, with increased offshore inquiries and reduced production run rates influencing pricing movements. Volatility in crude oil prices and reduced feedstock availability contributed to a surge in PBT prices in mid-Q2. In the first half of Q2 2023, low demand in the downstream processing industry prompted exporters to decrease production run rates in response to the bearish market. Ultimately, the inclination in PBT prices during the latter half of Q2 2023 was a consequence of supply shortages.
The global Polybutylene Terephthalate (PBT) market stood at approximately 1200 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 5.16% during the forecast period until 2030.
Polybutylene Terephthalate (PBT), a highly sought-after thermoplastic, is primarily produced using Butanediol and Terephthalic Acid. PBT's widespread popularity is attributed to its exceptional qualities, including high heat resistance and dimensional stability. These properties are particularly advantageous in the automotive sector, where PBT is extensively used for manufacturing interior and exterior automotive parts due to its ability to withstand high processing temperatures. Additionally, PBT's corrosion and wear resistance make it a preferred choice for various components in the electrical and electronic industry. Currently, the automotive industry dominates PBT consumption, accounting for the highest share, while the electric and electronic industry follows suit, benefiting from PBT's favorable electrical properties at elevated temperatures. As global economies emphasize eco-friendly materials, ongoing research and innovations in biobased Polybutylene Terephthalate present promising growth prospects in the foreseeable future.
The Polybutylene Terephthalate (PBT) market is driven by key factors influenced by the Electrical & Electronics and Automotive industries. In the Electrical & Electronics sector, the demand for PBT is propelled by its ideal electrical properties at elevated temperatures, making it a preferred material for various components. PBT's high heat resistance and dimensional stability are crucial attributes in this industry. Moreover, the Automotive sector significantly contributes to the PBT market, with the thermoplastic being extensively utilized in the production of interior and exterior automotive parts. The automotive industry favors PBT due to its ability to withstand high processing temperatures, ensuring durability and performance. The demand from both sectors underscores PBT's versatility and reliability in meeting the stringent requirements of Electrical & Electronics and Automotive applications, making it a key driver in the market. The global Polybutylene Terephthalate (PBT) market size is anticipated to reach nearly 1800 thousand tonnes by 2030.
Based on region, Asia Pacific region is the biggest consumer of Polybutylene Terephthalate (PBT). China dominates the PBT market due to substantial consumer demand and a significant concentration of end-use industries. Following closely, North America and Europe are anticipated to yield substantial growth for the global PBT industry. This growth is attributed to the rising efforts in advancing technological developments, creating opportunities for large-scale manufacturing of electrical and electronic components in these regions.
Based on the end-user industry, the global Polybutylene Terephthalate (PBT) market is divided into Electrical & Electronics, Automotive, Industrial, Others. However, Electrical & Electronics Industry dominates the global Polybutylene Terephthalate (PBT) market followed by Automotive industry.
Major players in the Global Polybutylene Terephthalate (PBT) market are Kanghui New Material Technology Co., Ltd., Sabic Innovative Plastics, BASF, Henan Kaixiang Chemical, Lanxess/DuPont, Yizheng Chemical Fibre, Nantong Xingchen Synthetic Material (Blue Star group), Saudi International Petrochemical (Sipchem), Toray BASF PBT Resin Sdn Bhd, Chan chun plastic Kaohsiung Plant, Chan chun chemical Changshu Plant, Shinkong Synthetic Fibers, Toray Japan, DuBay Polymer, Toray Industries (India) Private Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Polybutylene Terephthalate (PBT) which covers production, demand and supply of Polybutylene Terephthalate (PBT) market in the globe.
• To analyse and forecast the market size of Polybutylene Terephthalate (PBT)
• To classify and forecast Global Polybutylene Terephthalate (PBT) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polybutylene Terephthalate (PBT) market in the globe.
To extract data for Global Polybutylene Terephthalate (PBT) market, primary research surveys were conducted with Polybutylene Terephthalate (PBT) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polybutylene Terephthalate (PBT) market over the coming years.
ChemAnalyst calculated Polybutylene Terephthalate (PBT) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polybutylene Terephthalate (PBT). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polybutylene Terephthalate (PBT) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polybutylene Terephthalate (PBT) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polybutylene Terephthalate (PBT) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polybutylene Terephthalate (PBT) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1200 thousand tonnes
Market size Volume in 2030
1800 thousand tonnes
Growth Rate
CAGR of 5.16% from 2023 to 2030
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Electrical & Electronics, Automotive, Industrial, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Polybutylene Terephthalate (PBT) in terms of volume in 2022?
Ans:
The global market size of Polybutylene Terephthalate (PBT) had reached approximately 1200 thousand tonnes in 2022
Q2.
Which region is the major consumer of Polybutylene Terephthalate (PBT)?
Ans:
Asia Pacific region is the leading consumer of Polybutylene Terephthalate (PBT) globally
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