Polytrimethylene Terephthalate Market Size, Share | Report 2022-2030
The global polytrimethylene terephthalate market was surpassed at USD 896.91 million in 2021 and is expected to hit around USD 1.66 billion by 2030, growing at a CAGR of 7.08% from 2022 to 2030.
Report Highlights
The increasing market of textile industries is anticipated to boost the demand for PTT during the forecast period.Furthermore, the rising demand for apparel and automotive carpets is expected to increase the product demand resulting in the growth of the overall industryin the years to come. Many countries have set stringent regulations due to increased environmental concerns for promoting sustainable & innovative PTT demand. Companies are spending heavily on developing adhesives, which are non-ozone depleting and free from harmful compounds (VOCs), solvents, and toxins.
In June 2020, Teijin Frontier Co., Ltd., a fiber manufacturer, introduced Solotex Eco-Hybrid, a highly stretchable and dyeable product compared to petroleum-derived material. Eco-Hybrid marks a significant line in Teijin Frontier’s PTT fiber Solotex product portfolio. PTT is used across different end-use industries, such as textile, automotive, packaging, building & construction, consumer goods, and the medical industry. It is majorly used in fiber applications like carpet fabrics, automotive fabrics, apparel, and engineering plastics. Bio-based PTT is expected to grow at a significant CAGR over the forecast period owing to its properties, such as resistibility, compressibility, and eco-friendliness.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 896.91 million |
| Revenue Forecast by 2030 | USD 1.66 billion |
| Growth rate from 2022 to 2030 | CAGR of 7.08% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Type, application, end-use, region |
| Companies Covered |
DuPont; Huvis Corp.; GLORY; RTP Company |
Type Insights
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 dominated the overall industry and accounted for the maximum share of more than 76.94% of the global revenue in 2021. The 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. 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.
End-use Insights
Textile emerged as the dominant end-use segment for polytrimethylene terephthalate market accounting for more than 28.21% market share 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.
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.
Application Insights
The fibers segment emerged as the dominant application segment in 2021 and accounted for more than 64.04% 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 growth 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 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.
Regional Insights
Europe dominated the global industry in 2021 and accounted for the largest share of more than 43.55% owing to the growing textile industry in the region. Moreover, 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 CAGRfrom 2022 to 2030. 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.
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. China emerged as the leading plastic manufacturer in 2021 globally. The country 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.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Polytrimethylene Terephthalate Market
5.1. COVID-19 Landscape: Polytrimethylene Terephthalate Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Polytrimethylene Terephthalate Market, By Type
8.1. Polytrimethylene Terephthalate Market, by Type, 2022-2030
8.1.1 Bio-based
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Petroleum-based
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Polytrimethylene Terephthalate Market, By Application
9.1. Polytrimethylene Terephthalate Market, by Application, 2022-2030
9.1.1. Film Materials
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Fiber
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Polytrimethylene Terephthalate Market, By End-use
10.1. Polytrimethylene Terephthalate Market, by End-use, 2022-2030
10.1.1. Automotive
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Building & Construction
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Packaging
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Medical
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Consumer Goods
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.5. Textiles
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Polytrimethylene Terephthalate Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.5.3. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 12. Company Profiles
12.1. DuPont
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Huvis Corp.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. GLORY
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. RTP Company
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers