Pune India, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East, and Africa. These are the key regions where the PBAT (Polybutylene Adipate Terephthalate) market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the PBAT (Polybutylene Adipate Terephthalate) market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, application, end-user, and others. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global PBAT (Polybutylene Adipate Terephthalate) market are Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Jiangsu Sanfangxiang Group Co., Ltd., Far Eastern New Century Corporation, DAK Americas, BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Lubrilog, ECCO Gleittechnik GmbH, HUSK-ITT Corporation, among others. To achieve a substantial market share in the worldwide PBAT (Polybutylene Adipate Terephthalate) market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Galderma is one of the most significant manufacturers and distributors present in the global PBAT (Polybutylene Adipate Terephthalate) market.
Polybutylene adipate terephthalate (PBAT) is a common and widely known copolymer of adipate acid and is a class of biodegradable plastic. It is an elastomeric polymer known for improving mechanical properties. PBAT or Polybutylene Adipate Terephthalate is ductile and tough and can be processed by conventional film extrusion techniques. PBAT is widely used to yield films with mechanical properties similar to LDPE (low-density polyethylene). However, PBAT is relatively stiff when compared to its homopolymers. As such, PBAT incorporation can help improve the toughness of polymer blends that contain brittle polymers, such as thermoplastic starch (TPS) or PLA (Polylactic Acid), without interfering with their biodegradability.
The growing public awareness about the benefits of using environmentally friendly polymers drives the growth of the Polybutylene Adipate Terephthalate Market. Furthermore, the manufacturers of Polybutylene Adipate Terephthalate are largely focusing on important industries such as agriculture for mulch films, packaging, and consumer goods, which adds impetus to the market’s growth.
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Scope of PBAT (Polybutylene Adipate Terephthalate) Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product type, Application, and end-user |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Jiangsu Sanfangxiang Group Co., Ltd., Far Eastern New Century Corporation, DAK Americas, BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Lubrilog, ECCO Gleittechnik GmbH, HUSK-ITT Corporation, among others |
Segmentation Analysis
Modified/blended PBAT segment is expected to be the fastest growing segment in 2021.
The Product Type segment includes pure PBAT and modified/blended PBAT. The modified/blended PBAT segment is expected to witness the highest growth rate during the forecast period. This is attributed to the multiple advantages of the modified/blended PBAT, as it can be easily bent and given any kind of shape. In addition, such types of PBAT (Polybutylene Adipate Terephthalate) are also useful for manufacturing products in the consumer goods industry, fuelling the segment's growth.
The Shopping bag segment is expected to be the fastest-growing segment in 2021.
The Application segment includes shopping bags, food packages, mulch films, garbage/bin bags, and others. The shopping bag segment is expected to witness the highest CAGR during the forecast period. The growth of this segment is mainly driven by the increasing demand for environmentally friendly shopping can bags, which can be reused and decompose easily within a short period. Furthermore, the rapid use of shopping bags for carrying all kinds of consumer goods supplements the market’s growth.
The packaging & bags segment is expected to be the fastest-growing segment in 2021.
The End-User segment includes packaging & bags, consumer durables, food & beverages, agriculture & horticulture, textiles, and others. The packaging & bags segment is expected to witness the highest CAGR during the forecast period. The increasing demand for packaging & bags owing to the fact that the packaging & bags made from PBAT (Polybutylene Adipate Terephthalate) can easily decompose within 3 to 6 months. Furthermore, they also help lower the carbon footprint, adding impetus to the segment’s growth.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for PBAT (Polybutylene Adipate Terephthalate) include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
Asia Pacific region witnessed a major share. The demand for PBAT (Polybutylene Adipate Terephthalate) has been growing owing to the rising awareness about the use of biodegradable plastics coupled with increasing government policies to promote the use of bioplastics is anticipated to drive the polybutylene adipate terephthalate market in the Asia Pacific region during the forecast period.
Country Analysis
- Germany
Germany's PBAT (Polybutylene Adipate Terephthalate) market size was valued at USD 0.17 Billion in 2021 and is expected to reach USD 0.29 Billion by 2029, at a CAGR of 7.3% from 2022 to 2029. Germany is one of the leading countries in the PBAT (Polybutylene Adipate Terephthalate) owing to the increasing demand for consumer products with a reduced environmental impact in the region. For instance, companies German multinational chemical company such as BASF SE has planned on creating soil-biodegradable mulch films for agriculture to achieve sustainability. Competitor companies in Germany operating in the PBAT (polybutylene adipate terephthalate) market are taking note of such innovations to gain a strong research base in PBAT soil-biodegradable mulch films where soil microbes can use the film as food.
- China
China PBAT (Polybutylene Adipate Terephthalate)'s market size was valued at USD 0.24 Billion in 2021 and is expected to reach USD 0.52 Billion by 2029, at a CAGR of 10.3% from 2022 to 2029. China is one of the leading producers of PBAT (Polybutylene Adipate Terephthalate) owing to the presence of prominent market players in the region. In addition, the increasing demand for biodegradable mulch films in the region is driven by the amount of residual film in farmland soil in China. Such trends and demands are helping manufacturers translate the opportunity into revenue in the PBAT (polybutylene adipate terephthalate) market. However, there is an increasing need for the improvement of the mechanical strength in biodegradable mulch films to prevent rupture during various applications. So, in order to achieve this, manufacturers are planning to invest in R&D to improve the mechanical strength of biodegradable mulch films in China.
- India
India PBAT (Polybutylene Adipate Terephthalate)'s market size was valued at USD 0.14 Billion in 2021 and is expected to reach USD 0.26 Billion by 2029, at a CAGR of 8.2% from 2022 to 2029.
India is one of the growing markets for PBAT (Polybutylene Adipate Terephthalate) as there is an increase in the usage of mulch films in soil and a rise in government initiatives to encourage foreign investments in the agriculture industry and for the use of environmentally friendly packaging materials. Farming is a widely adopted profession in the modern economy and it holds a strong position in the Indian economy, propelling the growth of the PBAT (Polybutylene Adipate Terephthalate) during the forecast period.
Covid-19 Impact
Covid-19 had a major impact on almost all the industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the food sector have seen increased revenue due to significant changes in consumer preferences toward healthcare services. In addition, the pandemic has led to significant healthcare spending growth across developing and developed countries.
The growing public awareness about the benefits of using environmentally friendly polymers drives the growth of the Polybutylene Adipate Terephthalate Market. Furthermore, the manufacturers of Polybutylene Adipate Terephthalate are largely focusing on important industries such as agriculture for mulch films, packaging, and consumer goods, which adds impetus to the market’s growth.
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