Global Polybutylene Adipate Terephthalate (PBAT) Market, By Application (Composite Bags, Cling Films, Bin Bags, Medical Clothing), End-Use (Packaging, Agriculture, Fishery, Consumer Goods, Coatings) – Industry Trends and Forecast to 2029.
Global Polybutylene Adipate Terephthalate (PBAT) Market Analysis and Size
Growing public awareness of the benefits of adopting such environmentally friendly polymers has aided the expansion of the Polybutylene Adipate Terephthalate Market. Furthermore, the manufacturers are largely focusing on important industries such as agriculture for mulch films, packaging and consumer goods. Consequently, these factors have largely contributed to the market’s overall growth within forecast timeframe.
- 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. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Global Polybutylene Adipate Terephthalate (PBAT) Market Definition
Polybutylene adipate terephthalate (PBAT) is a biodegradable material that is a copolymer of adipate acid. It's an elastomeric polymer that's known for its ability to improve mechanical characteristics. PBAT is a very flexible and robust polymer that is used in a variety of applications such as packaging, hygiene goods, biomedical areas, and industrial composting.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Application (Composite Bags, Cling Films, Bin Bags, Medical Clothing), End-Use (Packaging, Agriculture, Fishery, Consumer Goods, Coatings)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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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), Xinhaibio (China), Lubrilog (France) ECCO Gleittechnik GmbH (Germany), HUSK-ITT Corporation (U.S.), Setral Chemie GmbH (Germany), IKV Tribology Ltd (Germany),Hangzhou Ruijiang Chemical Co., (China) and WILLEAP (South Korea)
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Market Opportunities
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Polybutylene Adipate Terephthalate (PBAT) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
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High Demand Across End Users
The growing utilization of the polybutylene adipate terephthalate (PBAT) across the various end user industries such as packaging, agriculture, medical research and consumer goods is estimated to carve a way for the growth of the market. The polybutylene adipate terephthalate (PBAT) has a wide range of uses across the industries, as they are used for various consumer goods, athletic goods, coatings, carpets, foam materials, electronics, agriculture and fisheries and packaging applications.
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Various Beneficial Properties
The various advantageous properties of polybutylene adipate terephthalate (PBAT) include large melting temperatures, low elastic modulus and stiffness, high flexibility and toughness. Also, due to its adaptability and hardness, the polymer can be mixed with a solid and rigid biodegradable polymer for bottle manufacturing. Cling films, stabilizers, composite bags, bin bags, mulch films, and other things are all made with PBAT.
The growing awareness regarding the importance of waste disposal will further propelled the growth rate of polybutylene adipate terephthalate (PBAT) market. Additionally, the higher rate of adoption of biodegradable products are projected to bolster the growth of the market.
Opportunities
Furthermore, surging focus of manufacturers across the globe towards the sustainable packaging for their products extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the rising government restrictions and policies towards green procurement coupled with the rising awareness about the benefits of polybutylene adipate terephthalate (PBAT) will further expand the future growth of the polybutylene adipate terephthalate (PBAT) market.
Restraints/Challenges Global Polybutylene Adipate Terephthalate (PBAT) Market
- Availability of Substitutes
The cost competitiveness of polybutylene adipate terephthalate over conventional plastics will create hindrances for the growth of the polybutylene adipate terephthalate (PBAT) market.
- Supply Chain Disruptions
The outbreak of COVID-19 led to rising number of restrictions around the globe due to pandemic, which further disrupted the supply chain. This factor posed as a challenge the polybutylene adipate terephthalate (PBAT) market growth rate.
This polybutylene adipate terephthalate (PBAT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the polybutylene adipate terephthalate (PBAT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Polybutylene Adipate Terephthalate (PBAT) Market
The recent outbreak of coronavirus has wreaked havoc on a wide range of sectors. The pandemic also had a negative impact on the polybutylene adipate terephthalate (PBAT) market. The lockdown regulations further resulted in severe disruptions in various manufacturing as well as the supply-chain operations, which further led to huge financial setback for the market. Moreover, the market even witnessed decline in consumer demand as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. These aforementioned determinants will restrict the market's revenue trajectory.
On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and the return of manufacturing operations will help the market to grow. Therefore, the market is estimated to expand.
Recent Development
- In August 2021, LG Chem Ltd. has announced plans to invest over USD2.2 billion by 2028 to expand its local manufacturing capacity for environmentally friendly materials. The corporation announced plans to build ten new chemical plants in Seosan, about 140 kilometres southwest of Seoul, to manufacture biodegradable polymers and other renewable energy components. Polyolefin elastomer (POE), a biodegradable plastic used in decomposable packaging, and polybutylene adipate-co-terephthalate (PBAT), used for footwear, auto exteriors, solar films, wire coatings, and other applications, are among the products on the list.
Global Polybutylene Adipate Terephthalate (PBAT) Market Scope
The polybutylene adipate terephthalate (PBAT) market is segmented on the basis of application and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Composite Bags
- Cling Films
- Bin Bags
- Medical Clothing
On the basis of application, the polybutylene adipate terephthalate (PBAT) market has been segmented into composite bags, cling films, bin bags and medical clothing.
End-Use
- Packaging
- Agriculture
- Fishery
- Consumer Goods
- Coatings
On the basis of end-use, the polybutylene adipate terephthalate (PBAT) market is segmented into packaging, agriculture, fishery, consumer goods and coatings.
Polybutylene Adipate Terephthalate (PBAT) Market Regional Analysis/Insights
The polybutylene adipate terephthalate (PBAT) market is analysed and market size insights and trends are provided by country, application and end-use as referenced above.
The countries covered in the polybutylene adipate terephthalate (PBAT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the polybutylene adipate terephthalate (PBAT) market because of the high presence of key players and huge consumer base. Additionally, the rise in consumer spending toward online shopping in countries such as India, Japan, South Korea and China also boosts market growth within the region.
Europe on the other hand, is estimated to show lucrative growth due to the huge growth potential to polybutylene adipate terephthalate market and with the consumer demand for products with a reduced environmental impact within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Polybutylene Adipate Terephthalate (PBAT) Market Share Analysis
The polybutylene adipate terephthalate (PBAT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to polybutylene adipate terephthalate (PBAT) market.
Some of the major players operating in the polybutylene adipate terephthalate (PBAT) market are
- 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)
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