India’s Polybutylene Terephthalate (PBT) Demand to Grow at a CAGR of 5.25% by 2030
by Chem Analyst Chemical Database PriceAccording
to ChemAnalyst report,” India Polybutylene Terephthalate (PBT) Market: Plant
Capacity, Production, Operating Efficiency, Technology, Demand & Supply,
End Use, Sales Channel, Region, Competition, Trade, Customer & Price
Intelligence Market Analysis, 2015-2030.” The demand for Polybutylene
Terephthalate (PBT) in India is anticipated to grow at a healthy CAGR of around
5.25% in the forecast period on rising stress over making India a manufacturing
hub to promote the domestic economy, thereby, leading to an enhanced
consumption of PBT in electrical and electronic industries for production of
finished goods. In addition, manufacturing of junction systems, sockets, fuse
boxes and other elements in automotive industry acquires a significant demand
for PBT in India. This demand is anticipated to witness gradual surge in the
forecast period on high hopes of recovery in country’s overall economic value.
The commercial preparation of PBT accounts for the synthesis of 1,4 Butanediol
(BDO), Dimethyl Terephthalate (DMT) and Purified Terephthalic Acid (PTA). The
product offers a valuable combination of technical properties with good
processability, good economics and an incredible resistance to heat, chemicals
and creep. Owing to its light weight and supreme properties as a thermoplastic,
the consumption of PBT is anticipated to grow for extrusion applications in the
coming years.
Browse
Complete Report : India
Polybutylene Terephthalate (PBT) Prices
Polybutylene
Terephthalate finds more than 30 per cent consumption share in automotive
industry. Bharat VI emission norm demanding the production of BS VI fuel
compatible vehicles by April 1 2020 led to an appreciable recovery in the
demand for PBT in the past few years owing to its high usage in production of
various automotive parts as it offers high heat resistance and good
processability.
Sudden
Outbreak of Coronavirus in the final quarter of 2020 has caused an astonishing
slump in the demand for ABS from automotive industry as several manufacturing
industries induced halt in their production activities in response to the
lockdown put up by the government to contain the spread of Coronavirus. This temporary
turnaround in majority of the business segments across nation has further
exacerbated the prolong downturn in the automotive sector. Hence, resulting a
devastating decline in revenues from dive in sales of major companies at the
back of severe economic crises. However, the downtrend in demand for PBT from
the automotive industry is anticipated to recover in the coming years on
increase in number of government initiatives like self-reliant India and relief
budget for Covid-19, aiming to enhance the industrial manufacturing by
providing relief funds to the companies in crises. In contrast, demand for PBT
from electrical and electronic sector is expected to surge at a persistent pace
on increased manufacturing of electronic and electrical goods in the domestic
market after Coronavirus led to the disruption in trade dynamics in the initial
phase. Moreover, high stress on making India a manufacturing hub is anticipated
to cut the imports of finished electronic goods from China and other importing
countries and thus, will provide a silver lining for the domestic manufacturers
to widen their profit margins by catering to majority of the demand from the
country. As PBT is widely consumed in the manufacturing of devices such as
capacitors, connectors and cable enclosures in electrical and electronic
industry, the increased manufacturing in this industry would directly bolster
the consumption of PBT in India. Increasing demand for PBT for extrusion
applications owing to its efficient properties as a thermoplastic, highlights
potential growth in demand for PBT in the coming years.
According
to ChemAnalyst report,” India Polybutylene Terephthalate (PBT) Market: Plant
Capacity, Production, Operating Efficiency, Technology, Demand & Supply,
End Use, Sales Channel, Region, Competition, Trade, Customer & Price
Intelligence Market Analysis, 2015-2030.” In India, Toray Industries Private
Limited is the only industry engaged in the manufacturing of PBR resin. Hence,
due to limited manufacturing facilities, a high share of the domestic demand
for PBT is catered through imports. Other players operating in India PBT Market
include Chang Chun Plastics Co. Limited, Nantong Xingchen Synthetic Material
Co. Limited (BlueStar), BASF SE, Evonik Industries AG, DuPont, Lanxess AG, Mitsubishi
Chemical Corporation, Sahara International Petrochemical Corporation, Celanese
Corporation etc. High demand and supply gap for PBT in India portrays huge
opportunity for new manufacturers to emerge in the India PBT Market and
consolidate high revenues.
“Polymer and Resin sector following Pharmaceuticals and Specialty Chemicals has been one of the most leveraged sectors in the chemical and petrochemical industry amidst Coronavirus crises. The persistent demand for various plastics for packaging and medical applications has upheld the revenue to a significant percent in the middle of dive in demand for various chemical and petrochemical products. Consequently, the demand for another highly preferred polymer and resin, PBT has witnessed gradual fluctuations but has managed to maintain stability due to increasing consumption from its major consuming electrical and electronic industry. The disruption in trade dynamics caused by Covid-19 from China, the largest supplier of electronic goods in India, initially made the domestic manufacturers to upscale their production to grapple the sudden demand and supply gap. This ramped up production thus led to a sudden increment in consumption of PBT along with other polymers utilized in the electrical and electronic sector in the final quarter of FY 20. However, the lockdown implemented by Indian government to combat the virus has caused devastating effects to the demand for PBT from automotive as well as electrical and electronic sector as an effect of halt in production implemented by end-user industries in compliance to the government norms. This temporary slump in demand is anticipated to witness a gradual recovery in the coming years as India is keener to rely on domestic manufacturing of goods to consolidate high economic value for the nation hence, pushing up the domestic production and consumption of PBT in electronic and electrical sector.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Browse Related Reports
India
Ethylene Vinyl Acetate (EVA) Prices, Market Analysis
India
Linear Low-Density Polyethylene (LLDPE) Pricing, Demand and Supply
About
Us
ChemAnalyst
is a ‘one stop’ digital platform that offers comprehensive market intelligence
data and in-depth analysis of the Indian chemical and petrochemical industry.
ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily,
production capacity, demand and supply outlook, manufacturing plant locations,
foreign trade data and news/deals for more than 400 major chemicals produced in
India. ChemAnalyst is promoted by
TechSci Research which is an award winning research based management consulting
firm providing market research and advisory solutions to the customers
worldwide, spanning a range of industries including Chemicals & Material,
Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace &
Defense, Water and Waste Management, BFSI and more
For more information, please visit us at
www.chemanalyst.com
Contact Us:
Nilesh Vishwakarma
B-44 Sector-57 Noida,
National Capital Region
Tel:
0120-4523948
Mob: +91-8882336899
Sponsor Ads
Created on Jun 15th 2020 04:01. Viewed 281 times.