Polybutylene Adipate Terephthalate Has Seen a Soaring 8.7% Growth and was valued at USD 1382 Million in 2023

According to a new report by Univdatos Market Insights, the Polybutylene Adipate Terephthalate Market was valued at USD 1382 Million in 2023 and growing at a CAGR of 8.7%. Polybutylene Terephthalate (PBT) is a high-performance engineering plastic material that is used in a variety of applications because of its high mechanical, chemical, and thermal performances. Polybutylene terephthalate known as PBT is a member of the polyester family, mainly used in automotive, electrical, and electronics, and some consumer durable applications. The PBT market is predicted to grow rapidly in the next few years due to new developments, key player activity, and the support for sustainable materials by authorities.

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The Asia-Pacific is expected to emerge as the leading PBT market owing to the increasing industrialization, urbanization trends, and the growing demand for superior performance materials across the automotive, electronics, and consumer goods industries. The market of PBT is expected to grow at a fast pace and China in particular will be instrumental in the growth of the market due to the abundant manufacturing companies in China. Amid escalating concern for sustainable living and non-plastic waste management in the region, governments have undertaken several measures towards its reduction; thus, will offer great growth opportunities for PBT makers.

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