Bio-based Polytrimethylene Terephthalate (PTT) Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMA4500 | Last Updated On: Jul 11 2022 | Available Formats

> Global Bio-based Polytrimethylene Terephthalate (PTT) Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Bio-based Polytrimethylene Terephthalate Market is segmented By Type (Petroleum Based PTT, Bio-Based PTT), By Application(Fiber, Engineering, Plastics, Film Material), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

 

Market Overview

The Global "Bio-based Polytrimethylene Terephthalate Market" is expected to reach at a CAGR of 8.2% during the forecast period (2022-2029).

A polyester developed in 1941, polytrimethylene terephthalate (PTT) is made from polytrimethylene terephthalate. Consistent polymerization or transesterification produces it. When making carpet fibers, PTT is similar to polyethylene terephthalate. When terephthalic acid is combined with 1,3-propanediol, the result is polytrimethylene terephthalate. Polyester is related to PBT and PET in that they are both manufactured from terephthalic acid monomers. For example, they are commonly employed in manufacturing engineering materials such as fiber and film material.

As a member of the aromatic polyester family, PTT is a thermoplastic material that may be spun into yarns and fibers. In addition to its enhanced colorfastness against ozone, UV radiation, and NOx, this potentially recyclable product also offers minimal water absorption qualities. PTTs are increasingly being used in carpets, automotive fabrics, home furnishings, clothes, and other industries due to their ability to combine the chemical resistance of polyester with the durability and elastic recovery of nylon.

Source: DataM Intelligence Analysis (2021)

Market Dynamics

Increasing demand from the carpet and textile sectors is expected to drive the global polytrimethylene terephthalate (PTT) market in the forecast period of 2021-2028. PTT polymers have a higher tensile and flexural strength than PBT polymers, making them more prevalent in various industrial applications.

Growing demand for PTT in the apparel industry is expected to boost the market.

During the forecast period, the fastest-growing market is predicted to be polytrimethylene terephthalate, widely utilized in garment manufacturing. There are several reasons for the demand for polytrimethylene terephthalate in the garment industry. These include improved elastic recovery, softness, stretching resistance, and wrinkle resistance compared to PBT and PET.

In addition to being easy to dye, PTT has excellent elastic recovery, heat retention, stretch resistance, wrinkle resistance, and UV-lightfastness. Its outstanding qualities, such as shape recovery, color retention, and softness, are projected to drive the demand for polytrimethylene terephthalate in the textile industry during the next few years.

Growing technological advancements are expected to boost the growth of the bio-based PTT market.

PTT's commercialization and development initiatives have been greatly aided by green technology. An industrial polymer technology platform has been built at DuPont's China R&D facility to service the Chinese market with PTT manufacturing and application support. New industrial applications for and modifications to PTT are being explored through this platform. Examples include extending PTT's use in EP, enhancing fire retardancy, regulating the melt viscosity of PTT fiber spinning, and using it in nanocomposite synthesis.

Increased manufacturing costs and patenting processes will limit the expansion of the bio-based PTT market.

The bio-based polytrimethylene terephthalate (PTT) market will be constrained by higher manufacturing costs and a patented technology during the forecast period.

COVID-19 Impact Analysis

To combat the unique coronavirus, businesses have been forced to close temporarily, development has been halted, social isolation has persisted and other measures have been adopted that have affected every part of life. The thermoplastic industry has been poorly affected by severe economic depression and the pandemic-related decline of the automotive industry.

Globally, governments are promoting personal protective equipment like face shields to stop the spread of the illness. Currently, manufacturers favor thermoplastic polymers for making this PPE because of its excellent resistance against impact, heat, and chemicals. They will assist thermoplastic businesses to regain their footing, which could lead to an increase in Polytrimethylene Terephthalate manufacturing in the future years.

Global Bio-based Polytrimethylene Terephthalate (PTT) Market Segment Analysis

By type, the bio-based polytrimethylene terephthalate (PTT) market is segmented into petroleum-based PTT and bio-based PTT.

The petroleum-based PTT segment is expected to be the dominant type

Petroleum-based PTT is predicted to dominate the global bio-based PTT market for the upcoming years because of its cheaper cost than bio-based PTTs, which have more significant production costs. In addition to fibers and engineering plastics, petroleum-based PTT is employed in various applications. At the same time, bio-based PTT is mainly used for film materials due to its superior mechanical qualities.

Source: DataM Intelligence Analysis (2021)

Geographical Analysis

Asia-Pacific depicts an excellent growth in the global bio-based polytrimethylene terephthalate (PTT).

Since nations like China and India are likely to grow their demand for polytrimethylene terephthalate throughout the forecast period in the Asia-Pacific. It is primarily employed in clothing and carpets due to its low water absorption properties. To a large extent, clothes have become a sign of aspiration. Aspirational clothing has replaced need-based apparel among customers.

The Polytrimethylene Terephthalate market is predicted to grow due to increased demand for aspiration clothes. It year's annual report from the Indian textile ministry shows that the textile industry contributes 7% of its industrial production, 2% of its GDP, and 15% to its export revenues. It has been reported by the National Development and Reform Commission that domestic apparel and knitwear sales for the first 11 months of 2019 were roughly US$ 172.4 million, which represents an increase of nearly 3 percent compared to 2018.

Competitive Landscape

Globally, the polytrimethylene terephthalate market is largely fragmented, with competitors accounting for a negligible portion of the industry. Players in the sector are focusing on strategic M&A and new product releases to stay ahead of the competition. A recent collaboration between PTT Global Chemical Public Company Ltd. and the Suranaree University of Technology will examine plastics' closed-loop waste management system from source to destination to convert contaminated wastes into feedstocks or fuel via chemical recycling in March 2021.

The Solotex Eco-Hybrid high-stretch S/S conjugated fiber, a plant-derived polymer, and a chemically recycled polyester polymer, was introduced by Teijin Frontier Co., Ltd. in July 2020. It features varied heat-shrinkage characteristics. Eco-Hybrid is a new product line in the Solotex PTT fiber family.

Key players operating in the global market for bio-based polytrimethylene terephthalate (PTT) include XiangLu, Yizheng Chemical Fiber Company, Zimmer, Asahi Kasei, Teijin, SAP SE, Sinopec, Toray Industries, RTP Company, and DuPont.

Toray Industries

Overview: Toray Industries, Inc. was founded in 1926 as a rayon yarn manufacturing company. Plastic resins, fine chemicals, films, carbon fiber composite materials, electronics, and information-related products, pharmaceutical and medical products, and water treatment and environmental products are among the high-value-added products offered by the company. The company has expanded its operations in 29 countries globally.

Product Portfolio: Carbon fibers and intermediate materials such as pre-pregs and textiles and molded products are among the carbon-fiber composite materials offered by the company.

Key Development: Toray Industries, Inc. announced that its partially plant-derived Ecodear PTT composite fiber (filament yarn) and textiles were awarded the Eco Mark certification in 2017. DuPont Sorona polymer is a partially plant-based poly trimethylene terephthalate (PTT) resin used in Ecodear PTT textile products. The Eco Mark Product Category No. 104 Household Textile Products certification was awarded to Ecodear PTT composite fiber and textile products. PTT textile products have received Type I environmental certification for the first time globaly (Eco Mark in Japan). Ecodear PTT composite fiber from Toray is a partially plant-based material incorporating DuPontTM Sorona Polymer.

Why Purchase the Report?

  • Visualize the composition of the bio-based polytrimethylene terephthalate (PTT) segmentation by type and region, highlighting the key commercial assets and players.
  • Identify commercial opportunities in bio-based polytrimethylene terephthalate (PTT) by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of bio-based polytrimethylene terephthalate (PTT) - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global bio-based polytrimethylene terephthalate (PTT) report would provide an approx. 52 market data tables, 42 figures, and 180 pages

Target Audience

  • Bio-based Polytrimethylene Terephthalate Manufacturers and Suppliers
  • Bio-based Polytrimethylene Terephthalate Industry Players
  • Bio-based Polytrimethylene Terephthalate Buyers
  • Emerging Companies
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Distributors

Trading Topics

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