Global Polybutylene Adipate Terephthalate (PBAT) Market Report and Forecast 2023-2028
According to the report by Expert Market Research (EMR), the global polybutylene adipate terephthalate (PBAT) market is projected to grow at a CAGR of 7.07% between 2023 and 2028. Aided by the growing demand for biodegradable polymers and the increasing application of PBAT in diverse industries, the market is expected to grow significantly by 2028.
Polybutylene adipate terephthalate, abbreviated as PBAT, is a biodegradable random copolymer, specifically a copolyester of adipic acid, 1,4-butanediol, and terephthalic acid. PBAT is renowned for its excellent toughness, flexibility, and compatibility with other biodegradable polymers. It is extensively used in industries such as packaging, agriculture, textile, and consumer goods due to its inherent biodegradability and lower environmental impact compared to conventional polymers.
The increasing global demand for sustainable and eco-friendly materials is a significant driver for the polybutylene adipate terephthalate (PBAT) market growth. As environmental concerns escalate and regulatory bodies impose stricter regulations on non-degradable polymers, the need for alternatives like PBAT has increased. Additionally, the growing awareness among consumers about environmental conservation has led to a shift towards sustainable products, driving demand for PBAT-based products.
The expansion of PBAT applications across various industries also plays a crucial role in the polybutylene adipate terephthalate (PBAT) market development. In the packaging industry, PBAT is used in the manufacture of compostable bags, films, and coatings. Its excellent toughness and sealability make it ideal for agricultural applications like mulch films, aiding in improved crop yield. The textile industry utilises PBAT for producing biodegradable non-woven fabrics, while consumer goods industry uses it for disposable cutlery, cups, and waste bags. These applications are expected to stimulate the polybutylene adipate terephthalate (PBAT) market growth further.
Furthermore, the surge in research and development activities focusing on enhancing the properties of PBAT to expand its application scope has led to increased attention towards PBAT as an effective solution for various end-uses. Innovations in the production process have led to PBAT with better heat resistance and mechanical properties, making it suitable for more advanced applications.
The rise in veganism and increasing popularity of plant-based products have also impacted the polybutylene adipate terephthalate (PBAT) market expansion positively. As PBAT is synthesised from bio-based monomers, it aligns with the trend of switching to plant-based materials, thereby expanding its consumer base.
The market can be divided based on grade, end-user, distribution channel, and region.
Market Breakup by Grade
Market Breakup by End-User
- Flexible Packaging (Plastics Bags)
- Agriculture (Mulch Film)
Market Breakup by Distribution Channel
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global polybutylene adipate terephthalate (PBAT) companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- BASF SE
- Shanxi Junhui Group
- Jiangsu Torise Biomaterials Pvt Ltd
- Novamont SPA
- Ningbo Changhong Polymer Technology Company Limited
- Lotte Fine Chemicals
- LX International
- Go Yen Chemical Industrial Co. Ltd
- Reliance Industries Ltd
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.