Scienza e Tecnologia
Reinforced Polybutylene Terephthalate Demand to Rise at 6.3% CAGR Giving Tailwinds to Polybutylene Terephthalate Market Growth: Fact.MR
NEW YORK , July 14, 2021 /PRNewswire/ -- The global polybutylene terephthalate market is poised to expand at a CAGR of approximately 6% over the forecast period 2021-2031, surpassing a valuation of polybutylene terephthalate market. The report also projects the market to witness impressive 5.7% year-on-year growth in 2021.
Growing usage of PBT in the thermoforming of packaging and extrusion of films owing to its high melting point is positively influencing demand outlook. PBT applications in electrical encapsulation materials, electrical insulation polymers, and electrical and electronic plastics are set to push sales over the forecast period.
As per the study, the rapid growth of textile sector has led to increasing need for high resistance materials. This will present prospects for PBT market players to capitalize on. Also, growing demand for environmentally-friendly, sustainable green materials has triggered sales of recyclable PBT.
According to the study, the demand for reinforced polybutylene terephthalate will rise at a CAGR of nearly 6.3%, surpassing a valuation of by the end of 2031.
The market for polybutylene terephthalate in East Asia is anticipated to surpass a valuation of by 2031. Owing to factors such as advancement in the automotive industry and increasing investment in engineering plastics, the market is likely to exhibit a high growth over the assessment period.
says Fact.MR analyst.
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Leading players operating in the market are focusing on adopting strategies such as mergers & acquisitions to cater to the needs of consumers. Also, they are providing new product offerings in order to enhance their product portfolio.
For instance, in 2020, Celanese Corporation, a global chemical and specialty materials company, announced to initiate a three-year plan to burgeon engineered materials compounding capacities at locations including Suzhou and
Nanjing in China and Silvassa in India. Celanese developmental strategy is focused on achieving a dominant position in the industry by expanding both polymer and compounding capacities through additions and investments.
In 2020, BASF announced the launch of its two product variants, Ultradur® B6551 LNI for extrusion and Ultradur® B6560 M2 FC TF, the world's first thermoformable PBT.
Some of the prominent market players operating in the polybutylene terephthalate (PBT) market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global polybutylene terephthalate (PBT) market, analysing forecast statistics through 2021 and beyond. The survey reveals growth projections on in polybutylene terephthalate (PBT) market with detailed segmentation:
Polypropylene Foams Market - During the projected period, rising demand for polypropylene foams in the automotive industry is expected to drive market growth. Because of the rising demand for electric vehicles, the scenario is expected to rise at a rapid pace, providing attractive prospects for industry players. The global polypropylene foams market is expected to increase steadily as a result of the aforementioned factors.
Liquid Polybutadiene Market - Liquid polybutadiene is a colourless, transparent chemical molecule that is the highly reactive counterpart to solid polybutadiene. It's a common ingredient in paint and coating intermediates. The electronics industry is also increasing its need for liquid polybutadiene due to its hydrophobic properties. Rubber use has raised the market value of liquid polybutadiene over the last half-decade.
Functional Coil Coatings Market - Conventional functional coil coatings are anticipated to be replaced with bio-based and eco-friendly coil coatings in the near future as stronger rules to reduce air pollution caused by hazardous emissions are enacted. A number of major firms have begun to invest in the development of bio-based, environmentally friendly coil coatings. When compared to bio-based coating alternatives, solvent-based functional coil coatings have a larger market share and emit more VOCs.
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