Global PBT & PET market expected to see robust growth of over 7% in next five years

06-Jan-15

The global PBT & PET resin market is estimated to be $47.4 billion by 2019, signifying a robust growth rate of about 7.3% from 2014 to 2019, as per Research and Markets. The global Polyethylene Terephthalate (PET) resin market has witnessed a significant growth in the past few years, which is estimated to continue in the coming years in all applications. However, the global Polybutylene Terephthalate (PBT) market has witnessed a moderate growth. Replacement of traditional packaging applications and reduced atmospheric emissions are the reasons for increase in the demand of PET market. The factors, such as thermal stability, high heat resistance, and superior electrical properties are the reasons for an upsurge in the demand for PBT resin. The rising demand for recyclable PET and innovative packaging will be the key influencing factors for the PET resin market, with an increased emphasis on different applications. Asia Pacific was the largest consumer of PET & PBT resin in 2013. China is the largest country in terms of PET bottle consumption and PBT electrical & electronic products. An emerging middle class, high economic growth, increasing OEM production and rapid urbanization are the driving factors for the Asia-Pacific PET market. About 72% of the PET resin demand was from the bottle application, driven by the beverage bottles for mineral water, carbonated soft drinks, ready to drink tea, and functional, dairy, and energy drinks. It is expected that light weight PET bottle trend will continue in future as it is a cost saving measure. Around 43% of the total PBT resin demand was for the electrical and electronic segment, especially in switches, connectors, circuit breakers, motor shell, and automotive electronics components in the year 2013. The factors, such as fuel efficiency, safety, and comfort functions in car are driving the demand for auto-electronic components. The Asia-Pacific region has been the most active market in terms of strategic initiatives for the period 2010 to 2014 and will continue to be so for the next five years. The automotive end-user industry led the rapid growth in the PBT market, backed by the automotive vehicle production, which reached 81 mln units in 2013.