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Polybutylene Adipate Terephthalate (PBAT) Resin Market is Expected to Grow CAGR of 8.5% by 2030 | ChemAnalyst
Polybutylene Adipate Terephthalate is a biodegradable thermoplastic copolymer that is widely known for its flexibility and toughness. PBAT is extensively utilized in various end-use industries due to its excellent properties, such as high mechanical strength, high heat resistance, and outstanding processability. Moreover, the product is considered as the best biodegradable plastic in terms of processability in the market and can be easily blended with calcium carbonate, starch, etc., to produce cost-effective products. The significantly growing demand for PBAT Resin from plastic manufactures to design new biodegradable polymers in order to solve the environmental problems associated with conventional plastics is expected to boost the market growth in the future.
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The production of PBAT Resin is done by the polycondensation reaction of 1-4 butanediol (BDO), Adipic Acid (AA), and Purified Terephthalic Acid (PTA) along with a special catalyst via polyester manufacturing technology. Polybutylene Adipate Terephthalate Resin has various end-use applications in the market, including packaging, mulching films, shopping bags, paper coating labels, cutlery, bin bags, and others. Based on different types, the PBAT Resin market is divided into pure PBAT and blended PBAT. An effective way to improve the properties of PBAT Resin while maintaining its biodegradability is the addition of low-cost and reinforcing materials like starch and Polylactic Acid (PLA). PLA-based PBAT blends are widely preferred over starch-based PBAT blends as they are easily commercially available and have a reasonably similar price in comparison to commodity polymers.
The Polybutylene Adipate Terephthalate (PBAT) Resin Market is segmented on the basis of grade, end-use, sales channel, and region. On the basis of grades, the market is segmented into home film grade, extrusion coating, compounding, and others. Based on various end-use industries, the PBAT Resin market is segregated into packaging, agriculture, consumer goods, coatings, fishery, and others. Consistently rising demand for packaged food & beverages is propelling the market around the globe. Extensive usage of PBAT Resin in the packaging of consumer goods is further expected to fuel the market in the upcoming years.
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In 2020, the PBAT Resin market was drastically affected around the world due to the outbreak of COVID-19. The spread of novel coronavirus forced the government authorities to impose nationwide lockdowns in several countries, causing a severe decline in the demand for PBAT Resins along with the disruption in the global supply chain. Several production units temporarily halted their operational activities in order to curb the spread of the deadly virus. However, the demand for single-use plastics and packaging solutions increased thoroughly during the pandemic, which further bolstered the PBAT Resin market around the world.
Among different regions, the European region holds the largest share in the Polybutylene Adipate Terephthalate Resin market, backed by the rising consumer demand for biodegradable and eco-friendly products. The Asia Pacific region is likely to dominate the market around the world until 2030 as many Chinese Manufacturers are increasing the exports of 100% biodegradable plastic bags across various countries. Expansion of the major end-use industries such as packaging, agriculture, and others will further augment the market growth in the Asia Pacific region in the near future.
Polybutylene Adipate Terephthalate (PBAT) Resin Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Polybutylene Adipate Terephthalate (PBAT) Resin market include BASF SA, K.D Feddersen, Willeap, Eastmen Chemicals, Shanxi Junhui group, Lotte fine Chemicals, DuPont, Huaian Ruanke Trade Co, ltd, Novamont S.P.A, Eastman Chemicals Company, Jiangsu Torise Biomaterials Co.ltd., and Others.
“Rapidly increasing demand for biodegradable and environmentally friendly products from the major end-use industries, including packaging, medical, agriculture, and other industries others is expected to boost the PBAT Resin market around the world in the next few years. Rising consumer demand for biodegradable plastic rather than conventional plastic due to its versatile properties is likely to accelerate the Polybutylene Adipate Terephthalate (PBAT) Resin market through 2026.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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