Polyethylene & Polybutylene Terephthalate market forecast to grow to 2019

21-May-14

PET & PBT are the main types of thermoplastic polyester resin market. As per a report by RnRMarketResearch.com, the important PET resin markets by applications are bottles, films, food packaging, and others; and the PBT resin markets are automotive, electrical & electronics, consumer appliances, and others. The market value of PET & PBT resin was estimated to be US$31,471.1 mln in 2013 and is projected to grow at a CAGR of 7.3% from 2014 to 2019. The data mentioned in the report is based on the overall demand for the global PET & PBT resin market. The key drivers of PBT resin market, such as the trend of metal being replaced by engineering plastics, growth in electrical & electronics applications, growth of emerging economies; and restraints, such as reducing halogen content in flame-retardant PBT and replacement by bio-based PBT. The key drivers of PET resin industry are population growth, rise in disposable income, urbanization in developing economies, and growing fast moving consumer goods, and restraint such as being a capital and technology intensive industry. The economic slowdown in Europe and North America also affected the economies of other developed countries that are of key importance for the commercial success of new material and its end-user market. The key companies in PET resin market are Indorama Ventures (Thailand), M&G Chemicals (Luxembourg), Jiangsu Sanfangxiang Group (China), Far Eastern New Century (Taiwan), Alpex (Mexico), and others. The key companies in PBT market are BASF (Germany), Toray Industries (Japan), Royal DSM N.V. (The Netherlands), E. I. du Pont de Nemours and Company (U.S.), Saudi Basic Industries Corporation (Saudi Arabia), Nan Ya Plastics (Taiwan), Lanxess Corporations (Germany), Celanese Corporation (U.S.), and others. The Asia-Pacific region emerged as the driving factor for both PET & PBT resin market, contributing about 38% and 53.6% shares respectively, of the total demand in terms of consumption. In the PBT resin market, China is the leading country in terms of consumption in the Asia-Pacific region, due to the increased demand from the automotive and electrical & electronic industries. The important emerging economies, such as Brazil, India, Germany, U.S., and others are further lined up for a brighter future in this market with the presence of companies, such as BASF, LANXESS Corporation, DSM, and Du Pont.