Poly (Butylene Adipate-Co-Terephthalate) Market is Expected to Exhibit a CAGR of 8.9% by Forecast Period 2030

Poly (Butylene Adipate-Co-Terephthalate) Market is projected to be worth USD 2.7 Billion by 2030, registering a CAGR of 8.9% during the forecast period (2022-2030). With increased use in a variety of end-use industries, including packaging, agricultural & fishery, consumer goods, coatings, and others, PBAT is becoming more well-known on the international market.

Increased demand from the packaging sector, expanding PBAT-based production, rising awareness of the advantages of PBAT, and increasing urbanisation are some of the main market variables that favourably affect the growth of the PBAT market. Throughout the projection period, it is expected that rising per capita disposable income and rising living standards in both developed and developing nations will fuel market expansion. Additionally, as consumers’ preferences for eco-friendly packaging have grown, plastic manufacturers’ attention has switched to biodegradable plastic, which has increased PBAT output. During the projection period, it is anticipated that rising consumer acceptance of sustainable packaging and green products will fuel PBAT demand. However, relative to the overall investment in PBAT, the cost of research and development is still considerable, which has an impact on the cost of raw materials and finished goods. Additionally, the current low oil prices make it difficult for PBAT to compete on price with traditional non-degradable plastics, which could limit the use of polybutylene adipate-co-terephthalate.

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Market Segmentation:

Application, end-use, and geographic region are used to categorise the PBAT market. The market is divided into composite bags, bin bags, mulch films, cling films, stabilisers, and others based on application. Due to their widespread usage in the packaging sector, the composite bags application category, which accounted for around 38% of the market in 2016, is expected to continue to dominate the industry. Bin bags were the second-largest market category for PBATs and are expected to develop strongly as a result of favourable regulatory regulations on the usage of biodegradable bags, rising environmental and health consciousness, and growing consumer demand. The market is divided into packaging, agricultural & fisheries, consumer products, coatings, and others based on end-use. Due to PBAT’s great fit in the packaging sector, packaging accounted for the largest market share among end users. Due to the global shortage of arable land and the rising demand for high-quality food, agriculture and fishing made up the second largest group.

Regional Analysis:

The PBAT market is divided geographically into five areas: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2016, the European area held the greatest market share, and it is anticipated that it will continue to expand with a robust CAGR of about 15.01% over the foreseeable future. North America trails the European market, which is then followed by Asia Pacific. Due to the widespread usage of PBAT in end-use sectors, the demand for PBAT is anticipated to increase in developing nations in Latin America and the Asia-Pacific region. Due to widespread acceptance across the various end users, nations in the Middle East and Africa like Turkey and Israel are among the largest contributors to the regional industry.

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Key Players:

The key players in PBAT Market are as follows:

following companies as the key players in the global Poly (Butylene Adipate-Co-Terephthalate) (PBAT) market: Novamont S.p.A., Eastman Chemical Company, Jinhui Zhaolong High Technology, BASF SE, SK Chemicals, Far Eastern New Century Corporation, Lotte Fine Chemical Co., Ltd., WILLEAP, and Jiangsu Torise biomaterials co., ltd.

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