Demand led by light products
The demand for Polybutylene Terephthalate (PBT) resin in India is projected to grow at a CAGR of 9.71% during 2019-2030 to reach 109 thousand tonnes by 2030 from 27.20 thousand tonnes in 2018, said a ResearchAndMarkets report.
Growing demand across various industries such as electrical & electronics, automotive and consumer appliances is fueling the market, said the report “India PBT Resin Comprehensive Techno-Commercial Market Analysis and Forecast, 2013-2030” on 20 June 2019.
“Increasing demand for light weight durable products such as airbags, bonnet components, seat belts, seat & door assemblies, chip sockets, coil bobbins, terminal boards, motor end caps, stator insulation and cable liners are boosting the demand for PBT products,” said the report.
Moreover, excellent flame-retardant properties of PBT products is anticipated to drive the demand for PBT resin in the electrical & electronics industry, thereby positively influencing the country’s PBT resin market during forecast period.
Companies covered in the report: Nantong Xingchen Synthetic Material Co Limited (BlueStar), Chang Chun Plastics Co Limited, SABIC, BASF and Toray Industries Inc. fiinews.com
