November 4, 2016 - 2:50 PM EDT
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Top 3 Trends Impacting the Global Polybutylene Terephthalate Market Through 2020: Technavio

Technavio’s latest report on the global polybutylene terephthalate (PBT) market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Swapnil Tejveer Sharma, a lead analyst from Technavio, specializing in research on plastics, polymers, and elastomers sector, says, “The demand for PBT is likely to grow by 6.16% per annum during the forecast period. One of the major reasons for this is the increasing demand from the automotive sector. In view of the growing demand for comfort and electronics in automobiles and other home appliances, PBT will continue to be one of the fastest growing engineering polymers.”

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The top three emerging trends driving the global PBT market according to Technavio chemicals and materials research analysts are:

  • Emergence of EVs
  • Miniaturization of electrical components
  • Increased demand for bio-based PBT

Emergence of EVs

Electric Vehicles (EVs) help in curbing pollution and reducing the import of crude oil. Thus, the demand for EVs is growing across the globe. In China, more than 380,000 EVs were sold in 2015. China was followed by Western Europe with sales of 184,500 EVs and the US with sales of 115,260 EVs during the same period. The EV market in China is treading on a growth path due to the cash subsidies provided by the government, ranging between RMB 24,000 per unit to RMB 600,000 per unit.

The emergence of EVs has led to the emergence of new high-voltage applications that require more efficient electrical components such as connectors, sockets, boards, sensor coverings, transformer insulation, switches and power sockets. As PBT has exceptional electrical properties, extensive mechanical properties, and high dimensional stability under heat, it is extensively used in these components. Thus, the adoption of EVs will drive the growth of the PBT market.

Miniaturization of electrical components

A massive drive toward miniaturization of electronic components and systems can be observed globally. The demand for small cables and electrical circuits is increasing in electrical and electronic components. Another key area where miniaturization is taking the forefront is reed sensors and planar transformers.

With the continuance of the trend toward miniaturization of devices, manufacturers are developing more creative engineering designs and technology to fulfil the needs of miniaturized devices. The current R&D facilities are working to develop switches that measure less than 4 millimetres. The near-microscopic components of miniaturized devices that are made of polymers like PBT occupy only 25% of the area of printed circuit boards and less than 20% of the volume, while those made of other materials occupy nearly 40% of the area. The advantages that these miniature components provide, enable them to carry a cost premium, which will benefit PBT manufacturers as PBT is extensively used in the electrical and electronics industry.

Increased demand for bio-based PBT

“The growing environmental concern about the use of synthetic plastic, which is mostly derived from petroleum feedstock, is encouraging market players to develop eco-friendly plastics for consumers,” says Swapnil. Globally, PBT is an important plastic which is widely used in auto components. An increase in the demand for bio-based products has shifted the focus of PBT manufacturers from synthetic to bio-based PBT. For instance, companies such as DSM and Lanxess have been investing heavily in Genomatica’s BDO technology to produce bio-based PBT products through biomass.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
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Source: Business Wire (November 4, 2016 - 2:50 PM EDT)

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