Development in Automotive Market to Act as a Ladder in Growth of Global Polybutylene Terephthalate Market
MarketResearchReports.Biz presents this most up-to-date research on “ Global Polybutylene Terephthalate Market 2016-2020 “
This report presents a thorough evaluation of the market for polybutylene terephthalate and encapsulates the dynamics impacting the development of this market. The current market scenario and its development prospects have also been included in this study. It also throws light on the threats and opportunities experienced by the top vendors operating in the market.
The first section presents the introduction of the polybutylene terephthalate market and encapsulates the top market highlights. The current size of this market and its anticipated growth rate have also been included under this section of the study. The global polybutylene terephthalate (PBT) market is predicted to rise at a CAGR of over 6.0% from 2016 to 2020. PBT refers to a saturated polyester that is primarily made from terephthalic acid and butanediol (BDO). It is utilized on a large scale in the polymers and plastics industry owing to the fact that it presents high performance blends such as acrylonitrile styrene acrylate (ASA), polyethylene terephthalate (PET), and others.
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The next section of the report covers the segmentation of the market. The PBT market is categorized in terms of application and geography. In terms of application, the report segments the market into extrusion products, household appliances, automotive, and electrical and electronics. Amongst these, the segment of electrical and electronics led the market in 2015 and is anticipated to experience a steady development all through the forecast horizon. This is due to the fact that a number of manufacturers are designing numerous types of PBT to be employed for a number of electronic and electrical parts such as power sockets, switches, transformer insulation, sensor coverings, boards, sockets, and connectors.
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In terms of geography, the report segments the market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Of these, APAC held the leading position in the market in 2015 and is predicted to maintain its superiority over the forecast period. This is owing to the fact that PBT resins are employed in numerous applications in the automobile manufacturing industry such as in high-end variants, etc.
In the next section, the forces driving and impeding the growth of the market for polybutylene terephthalate have been presented. The development in the automotive market and innovation in engineering plastics are amongst the key factors providing impetus to the development of the global polybutylene terephthalate market. In addition, new product introductions taking place in the market will also bode well for the growth of this market. The rising demand for bio-based PBT and electrical components’ miniaturization are the top trends seen in the market. However, the acceptance of PBT, awareness in consumers, and dearth of cutting-edge technology may restrain the development of this market in forthcoming years.
BASF, Celanese, DSM, DuPont, Lanxess, SABIC, Almaak International, Toray, China National BlueStar, and Evonik, among others, are the prime players dominant in the global polybutylene terephthalate market, as per this study.
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