Global Bio Based Polytrimethylene Terephthalate (PTT) Market – Industry Trends and Forecast to 2029

Global Bio Based Polytrimethylene Terephthalate (PTT) Market, By Application (Fiber, Engineering Plastics and Film Material), End User (Textile, Automotive, Film and Coating, Consumer Goods, Industrial, Electrical & Electronics, Others) – Industry Trends and Forecast to 2029

Bio Based Polytrimethylene Terephthalate (PTT) Market Analysis and Size

The global bio based polytrimethylene terephthalate (PTT) is expected to witness significant growth during the forecast period.  Growing demand for bio-based and recyclable solutions in the packaging sector coupled with rising awareness among consumers regarding the benefits of bio-based products is anticipated to boost the growth of the polytrimethylene terephthalate (PTT) market over the forecast period. Growing concerns regarding toxic issues along with depleting crude oil reserves, have been driving the growth of bio based polytrimethylene terephthalate (PTT).  Furthermore, government regulations on restricting the consumption of petro-based plastics in certain applications, such as textile and food packaging , will be expected to drive the bio-based polyamide market growth over the forecast period.

Data Bridge Market Research analyses that the bio based polytrimethylene terephthalate (PTT) market was valued at USD 213.66 million in 2021 and is expected to reach USD 364.37 million by 2029, registering a CAGR of 6.90% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Bio based polytrimethylene terephthalate (PTT) is produced from the renewable sources such as sugarcane or corn rather than being derived from the petrochemical feedstocks such as crude oil. This biobased polytrimethylene terephthalate has better environmental credentials as compared to the petroleum based Polytrimethylene terephthalates because it does not generate carbon emissions, greenhouse gases or air pollutants during its production process.

Global Bio Based Polytrimethylene Terephthalate (PTT) Market Dynamics

Drivers

• High demand of bio based bio based polytrimethylene terephthalate (PTT) due to environmental concern

Bio-based bio based polytrimethylene terephthalate (PTT) is the bio based form of polytrimethylene terephthalate (PTT) which are gaining traction due to the growing environmental concerns by the consumption of fossil fuel-based polyamide. These polyamide improved low moisture absorption rate, strong resistance, and higher impact strength as compared to their traditional counterparts which have increased the usage of this bio based polyamide in several applications such as tires, sporting goods, cable jackets, carpets, and flexible gas and oil hoses. These factors are expected to drive the growth of the bio based polytrimethylene terephthalate (PTT) market.

• Rising demand of bio based polytrimethylene terephthalate (PTT)  in food sector

Bio-based polyethylene terephthalate (PTT) has a better and strong resistance property as compared to normal polyethylene furanoate, it is used in packaging material because it prevents the food from oxidation and don’t affect the quality of food product. So, the rising demand of bio based polytrimethylene terephthalate (PTT) in the food and beverage sector are expected to drive the growth rate of the market.

Furthermore, rising demand for bio-based packaging of beverages such as soft drinks, water, fruit juices and alcohol beverages, escalating demand for sustainable products, growing demand for bio-based polymers, shifting trend towards the use of environment friendly alternatives among consumers are some of the major factors which are expected to propel the growth of the bio-based polytrimethylene terephthalate (PTT) market during the forecast period of 2022-2029

• Usage in textile industry

Bio based polyamide (PA) are also used for the manufacturing of the fibres and these are produced in a variety of forms, as carpet filament, textile filament and as industrial filament, For instance, for ropes. However, for both staple fibres and continuous filament, which are spun from the molten bio based polymer at very high speeds and produced high quality material which has required for the several purposes in textile.

Opportunities

• Multi applications associated with bio based polytrimethylene terephthalate (PTT)

Bio based polyethylene furanoate fibers are derived from natural fibers but it has also recycled from manufactured 100% biobased t-shirts and polyethylene furanoate-based bottles. These fibers are used in the packaging of industrial products such as cement, fertilizers and insecticides. It is also found in carpets, clothing and athletic gear. These are some major factor which will create lucrative opportunities for the growth of the bio based polyethylene furanoate market.

Furthermore, the rise in the inclination of consumers towards bio based polytrimethylene terephthalate (PTT) comparison to chemical based polyamide further influence the market and create lucrative opportunities for the market growth during the forecast period.

Restraints/ Challenges

• Fluctuating prices 

Volatility in the prices of raw materials is posing a major issue to the growth of the bio based polytrimethylene terephthalate (PTT). Additional, uneven availability of the raw materials at one specific location is demeaning the growth of the market which are the major market restraint for the market.

Reducing crude oil prices and dearth of raw material accessibility may hamper the growth of the bio-based polytrimethylene terephthalate (PTT) market during the above mentioned forecast period.

This bio based polytrimethylene terephthalate (PTT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bio based polytrimethylene terephthalate (PTT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Bio based Polytrimethylene Terephthalate (PTT) Market

The bio based polytrimethylene terephthalate (PTT) industry was unaffected by COVID-19 pandemic but the lockdowns during pandemic  posed a number of problems for industry participants which is including logistical difficulties in shipping end goods, disrupted supply chains, and recruiting staff from quarantines. The coronavirus outbreak the government has imposed lockdowns that have temporarily disturbed the activities of several industries such as bio-based polytrimethylene terephthalate (PTT) industry. Due to this pandemic, the growth of the bio based polytrimethylene terephthalate (PTT) industry is in a downward spiral. Thus, COVID-19 left a major impact on the growth of the bio based polytrimethylene terephthalate (PTT) market.

 Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Bio Based Polytrimethylene Terephthalate (PTT) Market Scope

The bio based polytrimethylene terephthalate (PTT) market is segmented on the basis of application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Fiber
• Engineering Plastics
• Film Material

 End User

• Textile
• Automotive
• Film and Coating
• Consumer Goods, Industrial
• Electrical & Electronics
• Others

Bio Based Polytrimethylene Terephthalate (PTT) Market Regional Analysis/Insights

The bio based polytrimethylene terephthalate (PTT) market is analysed and market size insights and trends are provided by country, application and end user as referenced above.

The countries covered in the bio based polytrimethylene terephthalate (PTT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Asia-Pacific dominates the bio based polytrimethylene terephthalate (PTT) market in terms of market share due to the existence of a large number of manufacturers of FDCA in this sector.

Europe and North America are anticipated to be the fastest developing region during the forecast period of 2022-2029 because of increasing demand for bio-based polymers in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Bio Based Polytrimethylene Terephthalate (PTT) Market Share Analysis

The bio based polytrimethylene terephthalate (PTT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bio based polytrimethylene terephthalate (PTT) market.

Some of the major players operating in the bio based polytrimethylene terephthalate (PTT) market are:

• AVERY DENNISON CORPORATION (U.S.)
• Dupont (U.S.)
• Dow (U.S.)
• 3M (U.S.)
• H.B. Fuller Company (U.S.)
• Sealed Air (U.S.)
• SABIC (Saudi Arabia)
• Arkema (France)
• LyondellBasell (Netherlands)
• Exxon Mobil Corporation (U.S.)
• Mitsui Chemicals Inc., (Japan)
• Braskem (Brazil)
• TotalEnergies (France)
• Novamont SpA (Italy)
• SOLVAY (Belgium)
• DAIKIN (Japan)
• Biome Bioplastics (U.K.)
• PTT Global Chemical Public Company Limited (Thailand)
• KURARAY CO., LTD. (Japan)