세계 폴리부틸렌 테레프탈레이트(PBT) 시장 – 2023-2030

Overview
Global Polybutylene Terephthalate (PBT) Market reached US$ 3.0 billion in 2022 and is expected to reach US$ 4.9 billion by 2030, growing with a CAGR of 6.6% during the forecast period 2023-2030.
The telecommunication sector's demand for PBT is being fueled by the rollout of 5G technology. PBT is utilized in the production of antennas, connections and housing for electronic modules, among other parts of 5G infrastructure. Because of its superior electrical insulating capabilities and resistance to harsh outside environments, this material is a top pick for the quickly developing 5G network infrastructure.
The recyclability of PBT is widely recognized and with the growing emphasis on sustainability, there is an increasing demand for this product. PBT holds a favorable position due to its recyclable nature, aligning well with the increasingly embraced environmental goals of various industries. There will likely be a rise in demand for PBT in several applications as manufacturers and consumers alike start to prioritize sustainability.
Asia-Pacific is among the growing regions in the global polybutylene terephthalate (PBT) market covering more than 1/3rd of the market. Asia-Pacific is a major globally center for the electronics and automobile sectors. The demand for cars and electronics has increased as a result of the middle class's increasing wealth in the area. PBT is widely utilized in several industries due to its advantageous qualities, which include electrical insulation, heat resistance and durability.
Dynamics
Increasing Use of Electrical and Electronic Products
The market is driven by the growing usage of polybutylene terephthalate in the electrical and electronic industries. PBT is a recommended material for the production of electrical components including switches, sockets, connections and circuit breakers due to its superior electrical insulating qualities, resilience to high temperatures and dimensional stability.
For Instance, in 2022, BASF launched Ultradur B4335G3 HR HSP, a polybutylene terephthalate (PBT) designed to protect sensitive electronics in automotive applications. The material, known for its unique combination of properties, provides reliable safeguarding for crucial components like wheel speed sensors.
The sensors, integral for ABS and ESP systems, play a vital role in maintaining vehicle stability during emergencies. Ultradur B4335G3 HR HSP ensures durability and optimal performance, standing out from alternative materials in its ability to shield against extreme climatic conditions and external elements like splash water and salt.
Growing Demand for PBT in Automobile Applications
The increasing need for polybutylene terephthalate in the automotive industry is propelling the globally PBT market forward. PBT's exceptional properties, such as high mechanical strength, resistance to chemicals and low moisture absorption, position it as an ideal material for various automotive components, including sensors, connections and under-the-hood parts.
For Instance, in 2020, SABIC expanded its range of specialist materials for automobile radar sensors by introducing two new LNP STAT-KON compounds that absorb radar. The new grades may be integrated with radomes made of PBT material, which can offer better resistance to automotive chemicals. The new grades are based on PBT resin.
High Cost of Raw Material
The price volatility of raw materials is a key factor limiting the globally market for polybutylene terephthalate (PBT). The production of PBT is closely tied to petrochemical feedstocks and the cost and availability of these raw materials significantly influence the manufacturing of the product.
Fluctuations in oil prices and geopolitical uncertainties can result in unpredictable costs for PBT manufacturers, impacting their profit margins and creating challenges in maintaining stable product prices. The susceptibility of PBT to changes in raw material prices exposes manufacturers to risks, complicating their ability to plan and control costs over the long term.
Competitive Substitutes and Material Substitution
The PBT market is also being impeded by the increasing competition from substitutes and alternative materials. Excellent qualities including strong heat resistance, electrical insulating ability and dimensional stability are provided by PBT, but other technical plastics and thermoplastics are also constantly developing. Rival materials could have comparable or improved properties at varying price points, prompting producers to look at other choices.
Materials such as polyamide (PA) or polyethylene terephthalate (PET) may be taken into consideration as PBT alternatives in some applications, particularly if they can fulfill the particular needs of a certain application at a more affordable price. PBT producers must constantly develop and distinguish their goods in this ever-changing market environment to keep a competitive edge against substitute materials.
Segment Analysis
The global polybutylene terephthalate (PBT) market is segmented based on type, processing method, end-user and region.
Rising Electrical & Electronics Due to High Production of Electric Components
The Electrical & Electronics segment is among the growing regions in the Global Polybutylene Terephthalate (PBT) Market covering more than 1/3rd of the market. The growing Electrical and Electronics sector is one of the primary forces of the polybutylene terephthalate (PBT) market. PBT has emerged as a preferred material for manufacturing electrical components, thanks to its outstanding electrical insulating properties, thermal stability and resistance to flames.
The adoption of PBT in connectors, switches, sockets and various electrical elements has experienced a notable surge, particularly driven by the increasing demand for electronic devices in sectors like consumer electronics, automotive electronics and industrial equipment. Moreover, PBT is well-suited for applications in electronic devices requiring reliable performance across diverse temperature ranges, attributed to its high melting point and dimensional stability.
Geographical Penetration
Growing Applications of Polybutylene Terephthalate in Asia-Pacific and Growing Use of Automotive Polymers in Passenger Cars
The Asia-Pacific has been a dominant force in the global polybutylene terephthalate market. A notable share of the polymers employed in passenger vehicles, especially within the automotive sector, is predominantly derived from polybutylene terephthalate. Although it is mostly utilized in automobile electric systems, polybutylene terephthalate has applications both indoors and outdoors.
PBT finds widespread applications in power relays, switches, motor components, ignition system parts, fuse boxes, actuator cases, windshield wiper covers, connections, mirror housings, cowl vents, handles, fans and fuel system components. Furthermore, China boasts the world's largest automotive manufacturing base, catering to both domestic and international needs.
Furthermore, in March 2021, Toyota Kirloskar Motor witnessed a substantial growth of 114%, selling 15,001 components in India. Anticipated to reach 27 million in 2021, vehicle sales, as reported by the China Association of Automobile Producers, are poised for a 6.7% increase compared to the previous year. Japan, China and South Korea are notable for being major producers of electronics and diverse consumer goods, where polybutylene terephthalate assumes a crucial role as a key component, alongside its substantial impact in the automotive sector.
The demand for polybutylene terephthalate in the area increased in 2020 when China's trading sales of consumer products reached US$ 6 trillion, up 20% from the year before. It is anticipated that polybutylene terephthalate's use will increase in this field since it is also used in industries to make conveyor chain components and housings for power tools. Because of this, the Asia-Pacific area now represents a significant portion of the globally market for polybutylene terephthalate.
COVID-19 Impact Analysis
The global market for polybutylene terephthalate (PBT) has been significantly impacted by the COVID-19 pandemic. Key PBT customers in the automobile, electronics and consumer goods sectors were among the industries affected by the pandemic's lockdowns, supply chain disruptions and economic downturns. During the early stages of the pandemic, the PBT market faced difficulties in production and delivery due to manufacturing facilities temporarily closing and a decline in demand.
The general market for PBT-based goods was further impacted by the uncertainty surrounding the intensity and duration of the pandemic, which also affected investment choices. There is anticipated growth in the Polybutylene Terephthalate market as the world economy progressively recovers from the epidemic. PBT demand is expected to be driven by an increased emphasis on sustainability as well as the expanding need for lightweight, high-performance materials in sectors like electronics and the automotive industry.
The COVID-19 epidemic has highlighted the significance of robust and flexible supply chains, leading businesses to reevaluate and broaden their approaches to procuring raw materials. It is crucial to remember that the precise effects of COVID-19 on the PBT market might change according to geographical variables, governmental actions and the rate at which certain industries recover.
The COVID-19 pandemic's ongoing effects on the supply chain have also had an impact on the cost and availability of raw materials required to make polybutylene terephthalate (PBT). For producers in the PBT sector, fluctuations in the cost of petrochemicals and other essential components have created an extra degree of complication.
Russia-Ukraine War Impact Analysis
The availability and cost of raw resources might be unclear due to supply chain disruption caused by geopolitical conflicts, particularly when they include major manufacturing or resource-producing countries like Russia and Ukraine. Electronics and the automobile industry, among others, frequently employ polybutylene terephthalate (PBT).
The global PBT market may be impacted by any supply chain interruption caused by the war if Russia or Ukraine are major suppliers of essential raw materials for PBT manufacture. Further impacting the market for PBT-containing products, geopolitical tensions may also result in wider economic worries that undermine consumer confidence and investment decisions.
It is advised to consult recent reports from industry experts, market research companies and news sources covering the most recent developments in the region and their potential effects on the global supply chain to obtain the most accurate and up-to-date information on the specific impact of the Russia-Ukraine conflict on the Polybutylene Terephthalate (PBT) market.
By Type
• Reinforced Polybutylene Terephthalate
o 15% Reinforced
o 30% Reinforced
o 50% Reinforced
o >50% Reinforced
• Unreinforced Polybutylene Terephthalate
By Processing Method
• Injection Molding
• Blow Molding
• Extrusion
• Others
By End-User
• Automotive
o Body Panels
o Ignition Coil Bobbins
o Covered Insulations
o Exhaust System part
o Ignition System
o Others
• Packaging
o Food Products
o Cosmetics
o Others
• 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
• Consumer Goods
o Sporting Goods
o Kitchen Appliances
o Others
• Machinery
o Transport Machinery Parts
o Sewing Machines
o Textile Machinery Parts
o Power Tool Parts
o Others
• Building and Construction
• Aerospace
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• On February 14, 2023, Polyplastics Group introduced a novel electrically conductive variant of DURANEX polybutylene terephthalate (PBT) tailored for millimeter-wave radar applications in the automotive sector. DURANEX PBT 201EB not only possesses electrical conductivity but also offers the advantage of electromagnetic wave shielding. The dual functionality aids in minimizing assembly efforts and, consequently, leads to cost reductions in the production process.
• On February 23, 2022, the manufacturing capacity of BASF (Malaysia) Sdn Bhd expanded by 5,000 metric tons annually for its Ultramid polyamide (PA) and Ultradur polybutylene terephthalate (PBT) products. In Q2 2023, the debottlenecking of BASF's production facility in Pasir Gudang, Malaysia, is expected to be finished
• On June 23, 2021, Global chemical and specialty materials giant Celanese Corporation acquired some technology related to the manufacture of polyacetal (POM) products from Grupa Azoty S.A. of Tarnow, Poland, after it decided to stop producing POM. Celanese will assume all current Tarnoform contracts to provide customer service to Azoty.
Competitive Landscape
The major global players in the market include BASF SE, Chang Chun Group, Hengli Group Co., Ltd., SABIC, Celanese Corporation, Polyplastics Co., Ltd., Evonik Industries AG, Koninklijke DSM N.V., Lanxess AG and Mitsubishi Chemical Corporation.
Why Purchase the Report?
• to visualize the global polybutylene terephthalate (PBT) market segmentation based on type, processing method, end-user and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of polybutylene terephthalate (PBT) market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global polybutylene terephthalate (PBT) market report would provide approximately 61 tables, 62 figures and 192 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies