Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Polybutylene Adipate Terephthalate Market by Grade, Application (Films, Sheets & Bin Liners, Coatings & Adhesives, Molded Products, Fibers), End-Use Industry (Packaging, Consumer Goods, Agriculture, Bio-medical), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global PBAT market is projected to reach USD 2.8 billion by 2027, at a CAGR of 13.1% from USD 1.5 billion in 2022.
Rising demand from emerging markets and growing consumer awareness are expected to offer significant growth opportunities to manufacturers of PBAT.
The non-food packaging accounted for the largest share of the packaging segment of the PBAT market in terms of value.
PBAT is a biodegradable polymer widely used in the production of sustainable and environmentally friendly packaging materials. In the non-food packaging industry, PBAT-based packaging materials are used for products other than food items, such as cosmetics, household goods, and personal care products. Moreover, the non-food packaging industry is increasingly adopting sustainable solutions to reduce environmental impact. This trend is driving the growth of the PBAT market as more companies are looking for eco-friendly alternatives to traditional packaging materials.
Molded products are the second-fastest growing application of PBAT, in terms of value.
PBAT can be used in the manufacturing of various molded products due to its thermoplastic nature. This enables it to be easily melted and molded into different shapes. Some common applications of PBAT molded products include disposable cutlery, food packaging, medical devices, and consumer goods.
Europe is estimated to be the second-largest market for PBAT.
Europe is the second market for PBAT. Germany, Italy, France, Spain, and the UK are the major countries in the European PBAT market. The region has a strong industrial base in developed economies, such as the UK, France, Italy, Spain, and Germany. The region is expecting a rebound in the growth of the biodegradable polymers market, with the countries investing heavily in new packaging technology to suit customer demands and needs.
Europe accounts for a significant share of the PBAT market due to the high consumer demand for sustainable packaging materials. The governments of European countries are promoting the use of biodegradable plastics, such as PBAT, by setting up the infrastructure for composting these plastics.
Market Dynamics
Drivers
- Shift in Consumer Preference Toward Bio-Based Plastics
- Increasing Use of Packaging and Compostable Applications
- Technological Advancements in Biodegradable Plastics
- Government Focus on Green Procurement Policies and Regulations
Restraints
- Technical Characteristics and Performance Issues of PBAT
- High Production Cost of PBAT
Opportunities
- Development of New Applications
- High Potential of PBAT in Emerging Economies
Challenges
- Easy Availability of Competitive Products
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 242 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $1.5 Billion |
| Forecasted Market Value (USD) by 2027 | $2.8 Billion |
| Compound Annual Growth Rate | 13.1% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Polybutylene Adipate Terephthalate Market, by Grade
6.1 Introduction
6.2 Extrusion Grade
6.2.1 Good Melt Strength and Viscosity of Polybutylene Adipate Terephthalate to Make Extrusion Favorable
6.3 Thermoforming Grade
6.3.1 Low Shrinkage and Excellent Clarity of Polybutylene Adipate Terephthalate to Help in Thermoforming Process
6.4 Other Grades
7 Polybutylene Adipate Terephthalate Market, by Application
7.1 Introduction
7.2 Films, Sheets & Bin Liners
7.2.1 Biodegradability and Compostability of Polybutylene Adipate Terephthalate to Drive Demand
7.3 Coatings & Adhesives
7.3.1 Polybutylene Adipate Terephthalate Coating to Improve Shelf Life of Materials
7.4 Molded Products
7.4.1 Thermoplastic Nature of Polybutylene Adipate Terephthalate to Help Manufacture Molded Products
7.5 Fibers
7.5.1 Polybutylene Adipate Terephthalate Fibers to be Considered Sustainable Alternative to Synthetic Fibers
7.6 Other Applications
8 Polybutylene Adipate Terephthalate Market, by End-Use Industry
8.1 Introduction
8.2 Packaging
8.2.1 Rising Demand for Environment-Friendly Food Packaging Solutions to Drive Market
8.2.2 Food Packaging
8.2.3 Non-Food Packaging
8.3 Consumer Goods
8.3.1 Increasing Inclination of Manufacturers Toward Green Products to Boost Market
8.4 Agriculture
8.4.1 Increasing Usage of Polybutylene Adipate Terephthalate in Mulch Films to Propel Market
8.4.2 Mulch Films
8.4.3 Netting
8.5 Bio-Medical
8.5.1 Growing Usage of Polybutylene Adipate Terephthalate in Bone Implant Sector to Drive Market
8.6 Other End-Use Industries
9 Polybutylene Adipate Terephthalate Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Anhui Jumei Biotechnology Co., Ltd
- BASF SE
- Chang Chun Group
- Dongguan Xinhai Environmental-Friendly Material Co., Ltd
- Go Yen Chemical Industrial Co., Ltd. (Gyc Group)
- Green Science Alliance
- Hangzhou Peijin Chemical Co., Ltd
- Hengli Petrochemical
- Jinhui Zhaolong Advanced Technology Co., Ltd.
- Junyuan Petroleum Group
- KD. Feddersen & Co.
- Kingfa Sci & Tec Co
- Lotte Chemicals
- Mitsui Plastics, Inc.
- Nanjing Baitong New Material Co. Ltd
- Novamont S.P.A
- Orinko Advanced Plastics Co. Ltd
- Qingdao Zhoushi Plastic Packaging Co. Ltd
- Red Avenue New Materials Group Co. Ltd
- SGA Polychem Pvt Ltd
- Tasnee New Material (Weifang) Co. Ltd
- Torise Biomaterials Co. Ltd
- Willeap
- Xinjiang Blue Ridge Tunhe Sci. & Tech. Co. Ltd
- Zhejiang Biodegradable Advanced Material Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vuvznd
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