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Polytrimethylene Terephthalate Market is expected to garner US$ 1620 Million by 2032

Polytrimethylene Terephthalate Sale Market 2022

Polytrimethylene Terephthalate Market SWOT Analysis of Key Players, Sale, Supply and Applications Forecast 2022 to 2031

NEW YORK, UNITED STATES, November 23, 2022 / -- Polytrimethylene Terephthalate Sale Market 2022

As per a study conducted by Persistence Market Research, the global Polytrimethylene Terephthalate Market is anticipated to secure US$ 948.44 Million in 2022, whereas, it was valued US$ 899 Million in 2021. Owing to the increasing market of textile industries, the demand for PTT is expected to boost during the forecast period, thus, securing US$ 1620 Million while recording a CAGR of 5.5% during the forecast period from 2022-2032.

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The Furthermore, the rising demand for apparel and automotive carpets is expected to increase the product demand resulting in the growth of the overall industry in 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.

Key Companies- 

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

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Key Takeaways from the Market Study

By product, 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.
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.
The fibers segment is expected to dominate application segment in 2022 and account for more than 68% share of the overall revenue.
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.
North America is expected to account for 39% market share for polytrimethylene terephthalate market.

Competitive Landscape

Key players in the global polytrimethylene terephthalate market are taking several initiatives to expand their reach in the global market. Players focus on industry collaborations, mergers & acquisitions, and partnerships. Some prominent players in the global polytrimethylene terephthalate market include DuPont, Huvis Corp, GLORY, RTP Company

Huvis Corp, a key player in the polytrimethylene terephthalate market is focusing on offering the same in fiber format to cater to automotive and textile industry.
GLORY, another key player in the polytrimethylene terephthalate market is focusing on using technology to advance manufacturing processes of the chemical. In addition, the company is also planning to expand its geographical presence.

About the Chemical & Manufacturing Division at Persistence Market Research

Expert analysis, actionable insights, and strategic recommendations - the chemical & manufacturing team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on chemical & manufacturing of which 100+ reports specific for chemical & manufacturing. The team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the chemical & manufacturing industry.

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Key Questions Answered in This Report -

Which is the largest regional market for Polytrimethylene Terephthalate?
What are the upcoming trends of Polytrimethylene Terephthalate Market in the world?
What are the key driving factors for the growth of the Polytrimethylene Terephthalate Market?
What are the top players operating in the Polytrimethylene Terephthalate Market?
What are the key regions in the global Polytrimethylene Terephthalate market?
Who are the key players/companies in the global Polytrimethylene Terephthalate market?

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