According to the latest market research study released by Technavio, the global PBT market is expected to grow at a CAGR of around 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global PBT market based on application:
Global PBT market share by application 2015
|
Electrical and electronics |
44.50% |
|
Automotive |
33.50% |
|
Household appliances |
13.70% |
|
Extrusion products |
8.30% |
Source: Technavio
The top three revenue contributing application segments are discussed below:
PBT market in electrical and electronics
The electrical and electronics segment accounted for around 45% of the global PBT market in 2015 and is expected to grow at a steady rate during the forecast period. Different variations of PBT have been designed to be used for diverse electrical and electronic parts in both signal and power uses. Connectors, sockets, boards, sensor coverings, transformer, insulation, switches, and power sockets are some of the main electrical components, which use PBT. PBT exhibits exceptional electrical properties, extensive mechanical characteristics, and high standards of dimensional stability under heat, which facilitates its use in the electrical and electronic applications.
“One of the major PBT products manufactured by BASF, known as Ultradur, is being widely used in different electrical engineering and electronics applications. Ultradur not only maintains dimensional stability under extreme heat, but also has strong hydrolysis resistance, and excellent laser wielding properties. Another product manufactured by DuPont, known as Crastin, also offers dielectric and electrical insulation properties,” says Ajay Adikhari, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
PBT market in automotive
In 2015, the automotive segment accounted for around 34% of the global PBT market. The mixture of extreme high electrical and mechanical properties coupled with higher chemical resistance and good thermal stability characteristics, allow the use of PBT and PBT alloys in several automotive applications. PBT find its main application in cars as it provides cost benefits by helping in reducing the automobile weight. PBT is has extensive usage in all auto electrical system componenets as well as in interior and exterior automotive parts. Some of the examples of automotive components that are manufactured using PBT are mirror housings, windshield wipers, vents, handles, fuel system components, fuse boxes, and all ignition system components. PBT alloys are used in the exterior body of automobiles and in safety components including airbag covers, brakes, cable liners, and power distribution boxes. The use of PBT makes the product rigid, dimensionally stable, heat and weather resistant, impact resilient, and resistant to fuels and lubricants. Besides these, it also offers electrical and thermal behaviours for a long period of time. The rapid growth in the automotive electronics sector has sunsequently increased the use of PBT products. Consumers are demanding a lot of smart and advanced functions for their cars which will increase also augment the demand for PBT in many automotive interior and exterior components.
PBT market in household appliances
Household appliances accounted for around 14% of the global PBT market in 2015. The increased use of bioplastics in industries like food and cosmetic industries has driven growth in the packaging and consumer goods segment. The surge in the use of bioplastics is mainly due to the increase in R&D, technological advancements, and increase in the demand for PBT packaging worldwide. The changes in consumer lifestyle due to the rise in disposable income and increase in demand for packaged convenience foods has accelerated the use of bio-based PBT in countries like China, Japan, and India. Currently, the Indian packaged food market is valued at around $30 billion in terms of market size, and is expected to grow at a rate of over 30% annually. This growth can be attributed to the rise in income level, greater acceptance of packaged food, improvement in standard of living, preference for convenience, and influence of the western world.
The top leading vendors operating in the global PBT market are:
- BASF
- Celanese
- DuPont
- Lanxess
- SABIC
- Toray
Other prominent vendors in the market include Almaak International, China National BlueStar Co. Ltd, DSM, Evonik, Jiangsu Heshili New Material, Polyplastics, Mitsubishi Engineering-Plastics, and SASA Polyester Sanayi A.S.
A more detailed analysis is available in the Technavio report titled, ‘Global PBT Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Bio-based Propylene Glycol Market 2016-2020
- Global Advanced Polymer Composites Market 2015-2019
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