Polybutylene adipate terephthalate (PBAT) exhibits versatile applications across industries, notably in packaging, agriculture, consumer goods, and textiles. Its biodegradable nature makes it a key player in eco-friendly packaging solutions, addressing concerns related to plastic waste. PBAT is utilized in agriculture to produce biodegradable mulch films, contributing to sustainable farming practices. PBAT is employed for various products in the consumer goods sector, meeting the rising demand for environmentally friendly alternatives. The key advantages of PBAT include its biodegradability, flexibility, durability, and the potential utilization of renewable resources, collectively positioning it as a promising solution to reduce the environmental impact of traditional plastics across diverse applications.
According to Data Bridge Market Research analyses, the Global Polybutylene Adipate Terephthalate (PBAT) Market was valued at USD 1.2 billion in 2021 and is expected to reach USD 2.4 billion by 2029, registering a CAGR of 9.4% during the forecast period of 2022-2029.
"Rise in demand by the end-users boosts the market growth"
The Polybutylene Adipate Terephthalate (PBAT) market is experiencing significant growth, driven by its increasing utilization across diverse end-user industries. This versatile polymer is widely adopted in packaging, agriculture, medical research, and consumer goods. Its flexibility, durability, and biodegradability make it particularly appealing in the packaging sector, where the demand for sustainable solutions is increasing. As the market seeks eco-friendly alternatives, PBAT's biodegradable nature positions it as a preferred material, fostering high demand across multiple sectors and propelling the overall growth of the PBAT market.
What restraints the growth of the global polybutylene adipate terephthalate (PBAT) market?
“Supply chain disruptions hinder the market growth”
The polybutylene adipate terephthalate (PBAT) market experienced a significant setback in its growth trajectory due to supply chain disruptions resulting from the COVID-19 pandemic. The global outbreak led to widespread restrictions, causing disruptions in the production, transportation, and distribution of PBAT. Lockdowns and limitations on movement hampered manufacturing processes, created shortages of raw materials, and posed logistical challenges, collectively impeding the normal flow of goods. Consequently, the PBAT market faced difficulties in meeting demand, and industry players struggled to maintain regular operations. The supply chain disruptions emerged as a substantial restraint, negatively impacting the growth rate of the polybutylene adipate terephthalate market during the pandemic period.
Segmentation: Global Polybutylene Adipate Terephthalate (PBAT) Market
The global polybutylene adipate terephthalate (PBAT) market is segmented on the basis of application and end-user.
- On the basis of application , the global polybutylene adipate terephthalate (PBAT) market is segmented into composite bags, cling films, bin bags, medical clothing.
- On the basis of end-user, the global polybutylene adipate terephthalate (PBAT) market is segmented into packaging, agriculture, fishery, consumer goods, coatings
Regional Insights: North America region dominates the Global Polybutylene Adipate Terephthalate (PBAT) Market
North America dominates the polybutylene adipate terephthalate (PBAT) market due to a strong presence of key industry players, fostering innovation, and a substantial consumer base. The region's dominance is further fueled by the global trend of increased online shopping, especially in countries such as India, Japan, South Korea, and China. This surge in e-commerce amplifies the demand for sustainable packaging solutions, where PBAT plays a crucial role, positioning North America as a key driver in the growth of the PBAT market.
Europe will grow in the polybutylene adipate terephthalate (PBAT) market due to its significant potential and increasing consumer demand for environmentally friendly products. The region's focus on sustainability aligns with PBAT's biodegradable nature, making it a key player in various industries. This convergence positions Europe as a lucrative market for PBAT's expansion.
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Recent Developments in Global Polybutylene Adipate Terephthalate (PBAT) Market
- In August 2021, LG Chem Ltd. revealed a substantial investment plan of over USD 2.2 billion by 2028 to enhance its local manufacturing capacity for eco-friendly materials. The company aims to construct ten new chemical plants in Seosan, located 140 kilometers southwest of Seoul, focusing on producing biodegradable polymers and renewable energy components. Notable products in the expansion plan include Polyolefin elastomer (POE), a biodegradable plastic used in decomposable packaging, and polybutylene adipate-co-terephthalate (PBAT), utilized in applications such as footwear, auto exteriors, solar films, and wire coatings. This initiative underscores LG Chem's commitment to sustainable and environmentally friendly material production
The Prominent Key Players Operating in the Global Polybutylene Adipate Terephthalate (PBAT) Market Include:
- Indorama Ventures Public Company Limited (Thailand)
- Alpek S.A.B. de C.V. (Mexico)
- Jiangsu Sanfangxiang Group Co., Ltd. (China)
- Far Eastern New Century Corporation (Taiwan)
- DAK Americas (U.S.)
- BASF SE (Germany)
- Zhejiang Biodegradable Advanced Material Co. Ltd (China)
- Lubrilog (France)
- ECCO Gleittechnik GmbH (Germany)
- HUSK-ITT Corporation (U.S.)
- Setral Chemie GmbH (Germany)
- IKV Tribology Ltd (Germany)
- Xinhaibio (China)
- Hangzhou Ruijiang Chemical Co., (China)
- WILLEAP (South Korea)
Above are the key players covered in the report, to know about more and exhaustive list of global polybutylene adipate terephthalate (PBAT) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Polybutylene Adipate Terephthalate (PBAT) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
