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Polybutylene Terephthalate (PBT) Market Size

The Polybutylene Terephthalate (PBT) market is experiencing significant growth, driven by its application in various industries such as automotive and electrical and electronics, which are the primary sectors contributing to its market size. The electrical and electronics industry, in particular, is the largest end-user, with its expansion fueled by the burgeoning consumer electronics market. Meanwhile, the automotive sector's demand is propelled by increasing vehicle production and the rise of electric vehicles. Geographically, Asia-Pacific and North America dominate the market share, with Asia-Pacific leading due to substantial consumption in countries like China, Japan, and South Korea. Africa is emerging as the fastest-growing region, driven by growth in the electrical and electronics industry.

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Market Size of polybutylene terephthalate (pbt) Industry

Polybutylene Terephthalate (PBT) Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 3.28 Billion
svg icon Market Size (2029) USD 4.50 Billion
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 6.52 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Polybutylene Terephthalate (PBT) Market Analysis

The Polybutylene Terephthalate (PBT) Market size is estimated at 3.28 billion USD in 2024, and is expected to reach 4.50 billion USD by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).

3.28 Billion

Market Size in 2024 (USD)

4.50 Billion

Market Size in 2029 (USD)

4.29 %

CAGR (2017-2023)

6.52 %

CAGR (2024-2029)

Largest Market by End-user Industry

52.41 %

value share, Electrical and Electronics, 2023

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The electronics segment held the largest market share owing to its wide-ranging use of PBT in applications such as circuit breakers, cable liners, switches, connectors, and chip sockets.

Fastest Growing Market by End-user Industry

6.93 %

Projected CAGR, Electrical and Electronics, 2024-2029

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Owing to the resin’s high dielectric strength and electrical resistance, there has been an increase in the applications of PBT resin in the electronics segment making it the fastest end-user segment.

Largest Market by Region

67.94 %

value share, Asia-Pacific, 2023

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Asia-Pacific holds the largest market share owing to its 74.06% revenue share in global electronics production, led by countries such as China, India, Japan, and South Korea.

Fastest Growing Market by Region

9.13 %

Projected CAGR, Africa, 2024-2029

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With its electronics production likely to record a CAGR of 7.62% during the forecast period, Africa is expected to be the fastest-growing regional consumer for the market.

Leading Market Player

12.07 %

market share, Chang Chun Group, 2022

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In 2022, the company held the largest market share globally and accounted for the highest production capacity of PBT resin, amounting to around 240 kilotons per year.

Electrical and electronics industry is expected to dominate the global PBT market

  • PBT is used in various end-user industries due to its good creep resistance, dimensional stability, and low moisture absorption properties. Some common PBT applications are automobile parts, coil cases, and electronic and electrical components. The electrical and electronics industry accounted for around 51.2% of the global PBT market by revenue in 2022.
  • The electrical and electronics industry is the largest end-user industry for PBT resin globally. It is expected to generate a revenue of around USD 2.43 billion by 2029, with a 50.2% increase over 2023. The growth can be attributed to the growing consumer electronics market, which is expected to reach a revenue of around USD 1071.0 billion by 2027 from USD 666.0 billion in 2023.
  • Automotive is the second-largest industry for PBT resin at the global level. The rising vehicle production worldwide is expected to drive the demand for PBT resin in the future. Vehicle production is projected to reach 181.9 million units by 2029 from 150.9 million units in 2023. The introduction of electric vehicles has contributed significantly to the global automotive market's revenue due to their lower energy costs, environmentally friendly nature, and efficient mobility features. For instance, the global electric vehicles market is projected to reach USD 858.0 billion in 2027 from USD 457.6 billion in 2023.
  • Electrical and electronics is the fastest-growing end-user industry for the PBT resin market, expected to record a CAGR of 7.01% by value during the forecast period. The global electronics industry is projected to reach USD 1.3 trillion in 2027 from USD 0.98 trillion in 2023. The growth of the electronics market at the global level is expected to drive the demand for PBT resin in the future.
Global Polybutylene Terephthalate (PBT) Market

Asia-Pacific to remain the top consumer of PBT during the forecast period

  • Polybutylene terephthalate (PBT) exhibits versatile properties like resistance to chemicals, heat, and abrasion. It also offers good dimensional stability, which makes it suitable for applications in the automotive and electrical and electronics industries. Asia-Pacific and North America are among the major consumers of PBT combinedly, which held a share of around 81.26% by volume in 2022.
  • Asia-Pacific accounted for the largest share of the market in 2022 and is predicted to register a CAGR of 6.77% by value during the forecast period, making it the third fastest-growing regional market. This can be attributed to countries like China, Japan, and South Korea, which accounted for shares of 58.42%, 14.57%, and 9.46%, respectively, of the region's overall PBT consumption in 2022. China's automotive industry is at the forefront in terms of the utilization of PBT, as the country's production reached 46.67 million units in 2022 and is likely to reach 64.73 million by 2029, thus driving the consumption of PBT in the future.
  • Africa is the fastest-growing regional market and is likely to register a CAGR of 8.13% by value during the forecast period owing to countries like South Africa, which are predicted to register a CAGR of 6.77% by value during the forecast period. South Africa's electrical and electronics industry is the fastest-growing end-user industry for the PBT market. Electrical and electronics production revenue is expected to reach USD 11.76 billion in 2029, compared to USD 7.18 billion in 2022, which will increase the consumption of PBT in the region. The electronics market in the country is projected to reach a volume of around USD 4.06 billion in 2027 from USD 2.31 billion in 2023.

Polybutylene Terephthalate (PBT) Industry Segmentation

Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • PBT is used in various end-user industries due to its good creep resistance, dimensional stability, and low moisture absorption properties. Some common PBT applications are automobile parts, coil cases, and electronic and electrical components. The electrical and electronics industry accounted for around 51.2% of the global PBT market by revenue in 2022.
  • The electrical and electronics industry is the largest end-user industry for PBT resin globally. It is expected to generate a revenue of around USD 2.43 billion by 2029, with a 50.2% increase over 2023. The growth can be attributed to the growing consumer electronics market, which is expected to reach a revenue of around USD 1071.0 billion by 2027 from USD 666.0 billion in 2023.
  • Automotive is the second-largest industry for PBT resin at the global level. The rising vehicle production worldwide is expected to drive the demand for PBT resin in the future. Vehicle production is projected to reach 181.9 million units by 2029 from 150.9 million units in 2023. The introduction of electric vehicles has contributed significantly to the global automotive market's revenue due to their lower energy costs, environmentally friendly nature, and efficient mobility features. For instance, the global electric vehicles market is projected to reach USD 858.0 billion in 2027 from USD 457.6 billion in 2023.
  • Electrical and electronics is the fastest-growing end-user industry for the PBT resin market, expected to record a CAGR of 7.01% by value during the forecast period. The global electronics industry is projected to reach USD 1.3 trillion in 2027 from USD 0.98 trillion in 2023. The growth of the electronics market at the global level is expected to drive the demand for PBT resin in the future.
End User Industry
Automotive
Electrical and Electronics
Industrial and Machinery
Other End-user Industries
Region
Africa
By Country
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Country
Australia
China
India
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
United Kingdom
Rest of Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
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Polybutylene Terephthalate (PBT) Market Size Summary

The Polybutylene Terephthalate (PBT) market is poised for significant growth, driven by its versatile properties such as chemical resistance, heat resistance, and good dimensional stability. These characteristics make PBT an ideal material for various applications in the automotive and electrical and electronics industries. The electrical and electronics sector is the largest consumer of PBT, accounting for a substantial portion of the market revenue, with the demand fueled by the expanding consumer electronics market. The automotive industry also represents a significant portion of PBT consumption, with increasing vehicle production and the rise of electric vehicles contributing to market expansion. The Asia-Pacific region, particularly countries like China, Japan, and South Korea, dominates the PBT market, supported by robust industrial activities and technological advancements.

The market landscape is moderately consolidated, with major players like BASF SE, Chang Chun Group, Hengli Group Co., Ltd., SABIC, and Wuxi Xingsheng New Material Technology Co., Ltd. holding significant market shares. Recent developments in the industry include product launches and capacity expansions aimed at enhancing PBT's application in sensitive electronic environments and automotive components. The African region is emerging as the fastest-growing market, driven by technological innovation and increasing demand for electrical and electronic products. Overall, the PBT market is expected to experience steady growth, supported by advancements in technology and rising demand across key industries.

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Polybutylene Terephthalate (PBT) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Automotive

      2. 1.1.2 Electrical and Electronics

      3. 1.1.3 Industrial and Machinery

      4. 1.1.4 Other End-user Industries

    2. 1.2 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Country

          1. 1.2.1.1.1 Nigeria

          2. 1.2.1.1.2 South Africa

          3. 1.2.1.1.3 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Country

          1. 1.2.2.1.1 Australia

          2. 1.2.2.1.2 China

          3. 1.2.2.1.3 India

          4. 1.2.2.1.4 Japan

          5. 1.2.2.1.5 Malaysia

          6. 1.2.2.1.6 South Korea

          7. 1.2.2.1.7 Rest of Asia-Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Country

          1. 1.2.3.1.1 France

          2. 1.2.3.1.2 Germany

          3. 1.2.3.1.3 Italy

          4. 1.2.3.1.4 Russia

          5. 1.2.3.1.5 United Kingdom

          6. 1.2.3.1.6 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Country

          1. 1.2.4.1.1 Saudi Arabia

          2. 1.2.4.1.2 United Arab Emirates

          3. 1.2.4.1.3 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Country

          1. 1.2.5.1.1 Canada

          2. 1.2.5.1.2 Mexico

          3. 1.2.5.1.3 United States

      6. 1.2.6 South America

        1. 1.2.6.1 By Country

          1. 1.2.6.1.1 Argentina

          2. 1.2.6.1.2 Brazil

          3. 1.2.6.1.3 Rest of South America

Polybutylene Terephthalate (PBT) Market Size FAQs

The Global Polybutylene Terephthalate (PBT) Market size is expected to reach USD 3.28 billion in 2024 and grow at a CAGR of 6.52% to reach USD 4.50 billion by 2029.

In 2024, the Global Polybutylene Terephthalate (PBT) Market size is expected to reach USD 3.28 billion.

Polybutylene Terephthalate (PBT) Market Report Snapshots

Polybutylene Terephthalate (PBT) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029