Polytrimethylene Terephthalate Market

Market Study on Polytrimethylene Terephthalate Market: Rising Use of Polytrimethylene Terephthalate in End User Industries Accelerating Market Growth

Polytrimethylene Terephthalate Market Segmented By Type - Bio-based Polytrimethylene Terephthalate | Petroleum-based Polytrimethylene Terephthalate

Polytrimethylene Terephthalate Market Snapshot (2022-2032)

The global polytrimethylene terephthalate market garnered a market value of US$ 948.44 Million in 2022 and is expected to accumulate a market value of US$ 1620 Million by registering a CAGR of 5.5% in the forecast period 2022-2032. Growth of the polytrimethylene terephthalate market can be attributed to use of the same in various end user industries. the market for polytrimethylene terephthalate registered a CAGR of 4% in the historical period 2016-2021

“Polytrimethylene terephthalate (PTT) is majorly utilized in the textiles industry including stable fiber, film materials, and filament or textured yarns.”

It is majorly used in the industrial and residential carpet market along with engineering applications, such as automotive parts, mobile phone housings, and various other industrial and consumer products due to its good dimensional stability and finishing qualities.

Attributes

Details

Polytrimethylene Terephthalate Market CAGR (2022-2032)

5.5%

Polytrimethylene Terephthalate Market Size (2022)

US$ 948.44 Million

Polytrimethylene Terephthalate Market (2032)

US$ 1620 Million

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Companies

  • DuPont
  • Huvis Corp.
  • Zhangjiagang Glory Chemical Industry Co. Ltd.
  • RTP Company

What are the Factors Propelling the Global Polytrimethylene Terephthalate Market?

Characteristics of polytrimethylene terephthalate making it widely adaptable across end user industries

Textiles comprising polylactic acid offer excellent drapability, breathability, and durability. PTT is a semi-crystalline polymer manufactured by polycondensation of trimethylene glycol with either dimethyl terephthalate or terephthalic acid. PTT-based products exhibit various superior characteristics including quick-drying, heat retention, resistance to stretching, wrinkle resistance, and high stiffness and tensile & flexural strength.

These excellent characteristics have resulted in promoting demand from the textile and carpet industries. In addition, it possesses an enhanced surface and flows finish.

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What are the Prevailing Opportunities in the Polytrimethylene Terephthalate Market?

Government initiatives and increasing production of plastic spurring growth of polytrimethylene terephthalate

The government initiatives and expenditure on the installment of manufacturing units for the production of PTT have created opportunities for investors in recent years, which are likely to boost production in the country. This, in turn, is projected to have a positive impact on product demand in the U.S.

The U.S. is expected to dominate the industry over the forecast period owing to the increasing demand from the textile sector. Furthermore, PTT finds usage across various applications in automotive, medical, and many other end-use segments in the U.S. Rising demand for polytrimethylene terephthalate-based materials is anticipated to expand to the realm of various applications, such as film materials and fibers.

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What are the Factors Hampering the Polytrimethylene Terephthalate Market?

Expensive nature and environmental concerns hindering overall market growth

Higher manufacturing costs and patented process are reducing the chances of its wide adoption. This, in turn, is creating major restraints for the market in upcoming years. In addition, growing environmental pollution from the chemical and petrochemical industries is expected to be one of the key concerns for the PET market. All these factors are derailing the progress of polytrimethylene terephthalate market.

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Comparative View of Polytrimethylene Terephthalate Market

Attributes

Polytrimethylene Terephthalate Market

CAGR (2022-2032)

5.5%

Market Value (2032)

US$ 1620 Million

Growth Factor

The increasing demand for sportswear and growth of plastic manufacturing factories is expected to drive the market in the forecast period.

Opportunity

Growth of end user industries along with versatile nature of polytrimethylene terephthalate is expected to offer lucrative opportunities to the market.

Comparative View of Antioxidants Market

Attributes

Antioxidants Market

CAGR (2022-2032)

4.5%

Market Value (2032)

US$ 5.7 Billion

Growth Factor

High performance of end-use industries and an increase in the adoption of plastic materials are anticipated to have a positive impact on the global antioxidants market.

Opportunity

The market is anticipated to experience rising demand from key end-use industries, including plastics, coatings, lubricants, fuels, and others.

Comparative View of Dioctyl Adipate Market

Attributes

Dioctyl Adipate Market

CAGR (2022-2032)

4.7%

Market Value (2032)

US$ 2.9 Billion

Growth Factor

Rising health concerns about phthalate-based plasticizers and the subsequent rise in the demand for bio-degradable alternatives are fostering the demand for dioctyl adipate.

Opportunity

Adoption as an insulator for cables and wiring in automobiles and electrical appliances to ensure smooth functioning even in extreme weather conditions. is anticipated to offer significant opportunities to the market.

Category-Wise Insights

Distinct Features of Bio-Based Polytrimethylene Terephthalate Fueling Rapid Adoption?

Wide use in different end user industries maximizing sales of bio-based polytrimethylene terephthalate

On the basis of types, the global industry has been further categorized into bio-based and petroleum-based PTT.

The bio-based PTT type segment is anticipated to expand further at the fastest growth rate retaining its dominant position in the global industry throughout the forecast period. Bio-based PTT exhibits higher elastic recovery, softness, and stretching & wrinkle resistance, making it suitable for use in the manufacturing of different film materials and fibers, such as carpet fabrics, automotive fabrics, apparel, and engineering plastics.

The growing awareness about the use of eco-friendly plastic-based products and strict environmental regulations, such as a ban on single-use plastics, have positively boosted the segment growth. Thus, bio-based PTT type segment is expected to dominate the overall industry and accounted for the maximum share of more than 78% of the global revenue in 2022.

Furthermore, petroleum-based PTT is expected to grow at a steady rate from 2022 to 2030 due to a rise in demand from various applications, such as medical, industrial area, commercial, and municipal fields as a result of its properties, such as profound stability and mechanical, thermal, & chemical resistance as well as dimensional stability.

Demand for Sports Wear Increasing Use of Polytrimethylene Terephthalate in Textile Industry?

Properties of Polytrimethylene Terephthalate increasing use in textile industry

owing to its properties including higher strength, enhanced elasticity, higher abrasion, and wrinkle resistance. Increasing investments in sports activities globally are augmenting the growth of the sports clothing and accessories market, which, in turn, is expected to drive the demand for PTT fibers.

Various types of clothing, such as t-shirts and jackets, use fiber produced from PTT. Hence, PTT finds its suitability across the manufacturing of fibers and carpets and is anticipated to witness further growth during the forecast period. Thus, textile is expected to emerged as the dominant end-use segment for polytrimethylene terephthalate market by accounting for more than 30% market share in 2022.

Growth of automotive industry boosting demand for polytrimethylene terephthalate

Furthermore, the automotive industry is expected to grow at a steady pace over the forecast period, owing to the rising disposable income and increasing demand of the middle-class population. The growth of the automotive industry is anticipated to boost the growth of the PTT market owing to their uses in different automobile components and accessories such as automobile carpets, seating fabrics, side, roof, floor, and door panels, safety belts, tires, airbags, air filters, fuel filters, insulation materials, and various others. Moreover, stringent regulations imposed on the automotive industry related to pollution are driving the market.

As a result of these regulations, there is an increased demand for PTT products in the automotive and transportation industries. The growth in demand for personal hygiene products, such as toothbrushes and hand sanitizers, along with housewares, cosmetic goods, and convenience goods, is sharply increasing owing to the stockpiling and panic-purchasing by consumers. This shift in consumer buying behavior and structural change in the consumer goods industry is expected to augment the product demand over the forecast period.

Tenacity and Flexibility of Polytrimethylene Terephthalate Favoring Growth of Market?

Wide adoption in end user industries propelling growth of polytrimethylene terephthalate

The growth of the fiber segment can be credited to the high demand from various applications, such as carpet fabrics, automotive fabric, apparel, and engineering plastics. Fiber application caters properties, such as tenacity, flexibility, elasticity, uniformity, and others, which makes it suitable for various industries including textiles, automotive, and building & construction.

The fibers segment is expected to dominate application segment in 2022 and account for more than 68% share of the overall revenue. The segment is estimated to expand further at the fastest CAGR retaining its leading position throughout the forecast period.

The film materials application is also estimated to witness a significant growth rate during the forecast period. The growth of this segment can be attributed to the increasing demand from industries including consumer goods, medical, and others, along with end-uses, such as microwave, semiconductor devices, light emitting diodes, wireless communications, rectifiers, transistors, telecommunications, and others due to their excellent physical, mechanical, thermal, electrical, and optical properties.

Which are the Key Regions in the Polytrimethylene Terephthalate Market?

Regions

CAGR

United States

4%

U.K

4%

Canada

3.5%

Regional Insights

Textile Industry Favoring Growth of Polytrimethylene Terephthalate in Europe?

Technological advancements in plastic industry bolstering growth

A rise in the number of manufacturers of carpets, apparel, food products, and other items is expected to drive the industry over the forecast period. The increasing technological advancement in the plastic industry to make it more environmentally friendly has fueled the industry growth in Europe.

The U.K. holds the highest revenue share in the Europe region and is expected to record the fastest CAGR from 2022 to 2032. The increasing R&D activities and growing product utilization across applications, such as packaging, automotive, and building & construction industries, are some of the prominent factors driving the region’s growth. Thus, Europe is expected to dominate the global industry in 2022 and account for the largest share of more than 45% owing to the growing textile industry in the region.

Rising Product Demand in End User Industries Shaping Landscape for Polytrimethylene Terephthalate in North America?

Plastic production facilities augmenting growth of polytrimethylene terephthalate in North America

North America is primarily driven by the rising product demand in the medical devices industry for the production of disposables and devices including catheters and surgical instruments. The product demand in various industries including textiles, automobile, building & construction, packaging, medical, and consumer goods is expected to boost the market growth in the region.

U.S. is a major plastic producer with the presence of adequate number of plants and production capacities required to fulfill the local demand. The country manufactures a significant amount of PTT, which is used in various products, such as fibers, carpets, sheets, and films among others. Moreover, the developing automotive industry in the region results in a higher demand of automotive interior parts, such as fabrics, seat belts, dashboards, and others, which, in turn, boosts the PTT demand. Thus, owing to the aforementioned reasons, North America is expected to account for 39% market share for polytrimethylene terephthalate market.

Market Competition

Companies are rapidly expanding their production capacities to consolidate their market position. Moreover, governmental support in various countries focused on environmental concerns as well as the growing textiles, automotive, and packaging industries will intensify the industry competition. Some prominent players in the global polytrimethylene terephthalate market include DuPont, Huvis Corp, GLORY, RTP Company, Huafon Group

  • In June 2022, Huafon Group, a Chinese manufacturer, has been named as the distributor of DuPont’s PTT business. The deal includes Sorona, which is a bio-based PTT fiber for different applications, such as carpets and fabrics.
  • RTP Company, a key player in the polytrimethylene terephthalate market is focusing on manufacturing bio-based and petroleum-based terephthalate to cater to different end user industries.

Report Scope

Attributes

Details

Forecast Period

2022-2032

Historical Data Available For

2015-2021

Market Analysis

US$ Mn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • U.K.
  • BENELUX
  • Nordics
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa
  • Turkey

By Market Segments

  • Type
  • Application
  • End-User
  • Region

Key Companies Profiled

  • DuPont
  • Huvis Corp
  • GLORY
  • RTP Company

Pricing

Available Upon Request

Key Segments Profiled in the Polytrimethylene Terephthalate Industry Survey

Polytrimethylene Terephthalate by Type

  • Bio-based Polytrimethylene Terephthalate
  • Petroleum-based Polytrimethylene Terephthalate

Polytrimethylene Terephthalate by Application

  • Polytrimethylene Terephthalate by Film Materials
  • Polytrimethylene Terephthalate by Fiber
    • Carpet Fabric
    • Automotive Fabric
    • Apparels
    • Engineering Plastics

Polytrimethylene Terephthalate by End-use

  • Polytrimethylene Terephthalate for Automotive
  • Polytrimethylene Terephthalate for Building & Construction
  • Polytrimethylene Terephthalate for Packaging
  • Polytrimethylene Terephthalate for Medical
  • Polytrimethylene Terephthalate for Consumer Goods
  • Polytrimethylene Terephthalate for Textiles

Polytrimethylene Terephthalate by Region

  • North America Polytrimethylene Terephthalate Market
  • Latin America Polytrimethylene Terephthalate Market
  • Europe Polytrimethylene Terephthalate Market
  • Asia Pacific Polytrimethylene Terephthalate Market
  • Middle East & Africa Polytrimethylene Terephthalate Market

- FAQs -

The global polytrimethylene terephthalate market is estimated at a 5.5% growth rate during the forecast period of 2022-2032

The global polytrimethylene terephthalate market is expected to garner US$ US$ 1620 Million by 2032

North America is expected to account for 39% market share for polytrimethylene terephthalate market.

U.S. is expected to register a CAGR of 4% in the forecast period

The Global polytrimethylene terephthalate market was estimated at US$ 899 Million in 2021

Bio-based PTT type segment is expected to dominate the overall industry and accounted for the maximum share of more than 78% of the global revenue in 2022.

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