Polybutylene Terephthalate Market to Record an Exponential CAGR by 2024

Polybutylene terephthalate (PBT) is an engineering polymer which is thermoplastic in nature and is used in electronics and electrical industriesas an insulator. It is a type of polyester and a thermoplastic (semi-crystalline polymer). PBT is solvent resistant, is mechanically strong, slightly shrinks during forming and is heat-resistant up to a temperature of 150 °C (or 200 °C with glass-fiber strengthening). It can be made noncombustible when treated with flame retardants.Polybutylene terephthalate is related closely to different thermoplastic polyesters. Polybutylene terephthalate has slightly lower rigidity and strength as compared to polyethylene terephthalate (PET), better contact resistance, and a lower glass shift temperature. Polybutylene terephthalate and polyethylene terephthalateare sensitive to warm water above the temperature of 60 °C (140 °F).

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Polybutylene terephthalate and polyethylene terephthalateif used outdoors needs UV protection and most variations of these polyesters are combustible. To improve flammability and UV properties, additives can be used. The global market for polybutylene terephthalate is segmented on the basis of application and geography. On the basis of application, the market is segmented into extrusion products, household appliances, automotive, and electrical & electronics. Electrical & electronics was the dominant segment in 2015 and is forecasted to have a steady growth rate over the forecast period.Polybutylene terephthalate has extensive application in the electrical & electronics industry in different electronic parts such as power sockets, switches, transformer insulation, sensor coverings, boards, sockets, and connectors. This extensive applicationis due to its efficient electrical properties, high stability dimensionally under heat, and wide mechanical properties which makes it efficient in applications that involves flow of electrical power.Polybutylene terephthalatemade products are used in the automobile industryowing to theirdimensional stability,rigidity, weather and heat resistance, and lubricant and fuel resistance. Polybutylene terephthalatehas a wide range of applicationin the plastics and polymers industry because it offers highly efficient performance blends like acrylonitrile styrene acrylate (ASA) and polyethylene terephthalate (PET). It provides an important integration of high technical features and good stability dimensionally. This is attributed to its considerablestiffness,low water absorption,and excellent heat resistant properties.

Major drivers of the global polybutylene terephthalate market include growing demand for eco-friendly, more sustainable green materials which has triggered market growth of recyclable polybutylene terephthalateblends. The introduction of Electronic Vehicles (EV) has resulted in the surfacing of latest high-voltage applications that require electrical components which are more efficient such as power sockets, switches, transformer insulation, sensor coverings, connectors, boards and sockets among others. Owing to the high performance electrical properties of polybutylene terephthalate, it is widely used in these components, which is driving its application in the EVs market thus triggering overall market growth. In addition, growing popularity of miniaturization of electrical parts is also driving the demand for polybutylene terephthalate in a positive way. The microscopic parts of miniaturized devices that ismadeof polymers like polybutylene terephthalateholds only around 25% of the printed circuit board area and are less than 20% of the total volume.

Geographically, the global market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. APAC held the dominant market share in the globalpolybutylene terephthalate market in 2015 and is forecasted to continue its dominance over the forecast period. Polybutylene terephthalateresins are used in varied applications in the automobile industry such as in luxury car variants. The growing demand for compound functions in cars has led to the extensive use of polybutylene terephthalatein automobileexterior and interior parts. In addition, molding of composites and design innovations is forecasted to further trigger growth of the polybutylene terephthalatemarket in the APAC region.

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Major players of the global polybutylene terephthalate market include BASF SE (Germany), Celanese Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), Lanxess Aktiengesellschaft (Germany), SABIC (Saudi Arabia), and Toray Industries, Inc. (Japan).

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