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Major drivers of the global polybutylene terephthalate market include growing demand for eco-friendly, more sustainable green materials which has triggered market growth of recyclable polybutylene terephthalateblends. The introduction of Electronic Vehicles (EV) has resulted in the surfacing of latest high-voltage applications that require electrical components which are more efficient such as power sockets, switches, transformer insulation, sensor coverings, connectors, boards and sockets among others. Owing to the high performance electrical properties of polybutylene terephthalate, it is widely used in these components, which is driving its application in the EVs market thus triggering overall market growth. In addition, growing popularity of miniaturization of electrical parts is also driving the demand for polybutylene terephthalate in a positive way. The microscopic parts of miniaturized devices that ismadeof polymers like polybutylene terephthalateholds only around 25% of the printed circuit board area and are less than 20% of the total volume.
Geographically, the global market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. APAC held the dominant market share in the globalpolybutylene terephthalate market in recent years and is forecasted to continue its dominance over the forecast period. Polybutylene terephthalateresins are used in varied applications in the automobile industry such as in luxury car variants. The growing demand for compound functions in cars has led to the extensive use of polybutylene terephthalatein automobileexterior and interior parts. In addition, molding of composites and design innovations is forecasted to further trigger growth of the polybutylene terephthalatemarket in the APAC region.
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