Global Polytrimethylene Terephthalate Market Size, Share and Forecast 2024 released By Global Market Insights, Inc. Report provides Market information about industry Top Key Players, Countries, Type and Application. This Strategy Consulting report also states Company Profile, sales, Strategy Consulting Market revenue and price, market share, market growth and gross margin by regions, Strategic recommendations for the new entrants, Market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.
Global polytrimethylene terephthalate (PTT) market size is likely to witness an increase in demand owing to growing application scope in textile industry. Its superior properties such as elastic recovery, stain resistance and ease in dyeing are expected to compliment the demand. Carpet manufacturing sector is one of the key applications of this industry.
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It has physical properties similar to that of polyethylene terephthalate (PET) i.e. strength, toughness, stiffness & heat resistance) and processing properties comparable to polybutylene terephthalate (PBT) i.e. rapid crystallization and low melt & mould temperatures. It is also similar to polyamide (nylon 6 & nylon 6,6) and polypropylene (PP) for applications in fiber manufacturing. It is also possesses properties similar to that of polycarbonate (PC) required for moulding applications. PTT also overlaps in terms of processability and properties with respect to polylactic acid (PLA) and cellophane for fiber & films applications.
It is also likely to substitute PET for applications such as fiber and packaging. It can also be used for manufacturing in application such as X-ray films, labels and strapping. It is also used in novel applications. For e.g. institutes and hospitals use selenium which is composite flooring material and relies in PTT’s durability, colorfastness and elastic gain properties.
DuPont is focusing to develop Sorona for fiber applications used in apparel and carpet industry. It has also commercialized bio PTT grade for applications in packaging and high performance engineering. These aforementioned factors are anticipated to drive PTT market over the forecast period.
North America was dominant region over the past few years as countries such as the U.S. and Canada witnessed an increase in applications coupled with technological advancements. Europe was the second largest region and is likely to witness an increase in demand owing to growth of carpet and textile industry. Asia Pacific is likely to witness highest gains over the forecast period owing to growth witnessed in home furnishing and automobile sector.
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The global polytrimethylene terephthalate market share is moderately consolidated with fierce competition on the basis of PTT price, application development and services. Key companies include Toray, RTP Company, DuPont, Sinopec and CNPC (China National Petroleum Corporation). Other prominent manufacturers include Teijin, Asahi Kasei, Shanghai Huayuan Company Limited, Zimmer, Yizheng Chemical Fiber Company Limited and Xianglu.
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