Polyethylene Terephthalate & Polybutylene Terephthalate Market Trends and Forecasts to 2019

15-May-14

PET & PBT are the main types of thermoplastic polyester resin market. The market value of PET & PBT resin was estimated to be 31,471.1 million in 2013 and is projected to grow at a CAGR of 7.3% from 2014 to 2019, as per RnRMarketResearch.com. 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. These are the most active and the key players of the PBT resin market. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and serve the customers more effectively. Investments in R&D, followed by expansions were the most preferred strategies by the top players in 2013, which is driving the demand of the PET & PBT resin market. Their strategy to capture the market in developing economies includes expansions and agreements. 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.