PBT Market Regionial Analysis, Type and Application, Forecast to 2024
Posted by Preet on September 16th, 2019
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.
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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.
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.
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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 Polybutylene terephthalate market for the period 2018-2027. According to the report, the PBT market is projected to grow at 5.6% CAGR through 2027.
