Worldwide consumption for polybutylene terephthalate (PBT) is expected to reach 1,150 kilo tons in 2018, according to Fact.MR valuation. Overall growth of the PBT market can be attributed to,
- Extensive application of PBT formulations across end-user industries
- Increasing demand for bio-based plastic and development of biodegradable and recyclable forms of PBT
- Growing utilization in electronic components whose production is rising on the back of the fast-growing vehicle electrification landscape
- Significant R&D investments focused on improving PBT formulations for greater functional properties
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As per Fact.MR valuation, the steadily rising PBT consumption across the globe is expected to witness an increase of over 50 kilo tons, growing at the rate of 4.8% in 2018 over 2017.
“The landscape of engineering thermoplastic polymers is gaining center stage owing to their superior performance and functional properties. Global consumption of PBT is set to rise on the back of increasing importance of PBT in multiple applications of electronics and automotive industries. Buoyancy in the automotive sector and expansion of the electronics industry have regained the declining sales of PBT in the past decade. In 2018, PBT sales are expected to generate over US$ 2.5 billion market revenues,” says a senior analyst at Fact.MR.
Electrical and Electronics Industry Holds Sway with Two Fifth Volume Share in 2018
Fact.MR study shows that demand for PBT in the electrical & electronics industry will hold nearly 40% of the global consumption in 2018. The electronics industry landscape is growing at a rapid pace against the backdrop of increasing reliance on electrical components across industrial verticals. PBT resins and PBT formulations provide greater performance in terms of dimensional stability, heat resistance and higher stiffness.
Increasing consumption of PBT in electronic components can also be attributed to ongoing miniaturization of electronic components where engineering thermoplastics polymers find extensive application. Fact.MR shows that ranging from insulations to connectors rising incorporation of PBT in electronic components is expected to consume over 450 kilo tons of PBT in 2018 and the consumption rate is growing at 5.1% over 2017.
PBT Consumption in Automotive Industry to Grow at Over 5% y-o-y in 2018
Fact.MR finds that buoyancy in the automotive industry will fuel the PBT consumption wherein demand for fuel-efficient and light-weight vehicles continue to increase industry’s reliance on plastic. With the ongoing electrification of vehicles, the number of electronic components in electric automobiles has increased dramatically. As the design of electric vehicles requires more efficient and high-powered electronic components, consumption of PBT in the EV landscape will grow steadily.
Miniaturization of electronic components has invited some of the excellent innovations in the plastic polymer landscape. In light of this, OEM manufacturers continue to seek advanced engineering thermoplastic polymers for the incorporation of smaller electric circuits, switches and connections in compact-sized components.
The study opines that production and consumption of PBT in APEJ will occupy the pole position. According to the estimates, APEJ will account for over half the global consumption in 2018. Improving economic scenario and living standards have spurred greater spending in the electronic, automotive and consumer electronics markets.
APEJ’s PBT consumption is consolidated in Greater China and will account for over 62% of the regional consumption. Further, flourishing electrical & electronics industry and rapidly growing automotive industry will collectively occupy three fourth of the APEJ consumption in 2018.
The Fact.MR report tracks the PBT market for the period 2018-2027. According to the report, the PBT market is projected to grow at 5.6% CAGR through 2027.
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