Thermoplastic polyester engineering resins (TPER) forecast to grow upto 2022

Increasing thermoplastic polyester engineering resins (TPER) demand in electronic components and automotive manufacturing is expected to remain a major factor driving the global market growth upto 2022, as per Grand View Research Inc. Major TPER products include polyethylene terephthalate (PET) polybutylene terephthalate (PBT) and polycyclohexylene dimethylene terephthalate (PCT). Increasing application of TPER in industrial equipment food & beverage packaging and thermoforming applications is expected to further drive the global market. U.S. China India Japan Brazil and Mexico are touted to be major regions attracting TPER for automotive components (alloys and exterior panels) manufacturing on account of growing automotive production in these markets. Growing demand for PET for bottling in soft drink industry is expected to drive TPER demand in packaging applications. TPER is gaining importance as an essential material for manufacturing fluorescent bulbs. Government initiatives across the globe to promote energy saving practices along replacement of incandescent bulbs with LED and fluorescent bulbs is expected to drive PBT demand which in turn is expected to complement the global TPER market growth. TPERs are one of the major components in production of glass fiber. Increasing glass fiber consumption in construction particularly in high infrastructure growth regions such as China India Brazil Mexico and Southeast Asia is expected to further augment the global market growth. Environmental regulations by ECHA EPA and EEA ascertaining to degradability and toxicity of plastics is expected to challenge the market growth. North America is expected to register considerable growth over the forecast period driven by increasing TPER application in automotive and electrical & electronics industries. Europe is expected to grow at a sluggish rate on account of poor growth in end-use industries in Western Europe countries. European market is governed by ECHA and EEA regulations along with EU legislations for conventional plastics. Majority of TPER demand in the region is expected to be driven by bottling and construction applications. Increasing automotive production in Germany for export markets is expected to drive PBT demand which in turn would strengthen the regional market growth. Asia Pacific is expected to witness high growth rate on account of increasing automotive production in Japan China India and Korea. Growing electrical & electronics industry in the region aided by increasing production in Korea China and Taiwan is expected to further complement the regional market growth over the forecast period. Major companies operating in the global TPER market include BASF SE SABIC Solvay Plastics DuPont Innovative Plastics LG Chemicals Lotte Chemicals Kuraray RTP Company Mitsubishi Chemicals and Bayer MaterialScience. Market competitiveness is driven by extensive R&D by major companies such as DuPont Bayer Solvay and Mitsubishi Chemicals.