Polybutylene Adipate Terephthalate Market Key Players, Demands, Trends, Size, Share, Growth rate and Forecasts to 2027

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.

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Polybutylene Adipate Terephthalate (PBAT) is a biodegradable polymer that is used in various applications such as packaging, agriculture, hygiene products, and textiles. The global PBAT market is expected to grow significantly in the coming years due to the increasing demand for sustainable and eco-friendly products.

One of the major drivers for the PBAT market is the growing awareness among consumers about the harmful effects of plastic waste on the environment. PBAT is a biodegradable material that can be composted, which makes it a sustainable alternative to traditional plastics. Additionally, government regulations and initiatives to reduce plastic waste are also expected to drive the demand for PBAT.

The packaging industry is the largest application segment for PBAT, as it is used in various packaging materials such as bags, films, and containers. The hygiene products segment is also expected to grow significantly due to the increasing demand for eco-friendly disposable products.

Geographically, Asia-Pacific is the largest market for PBAT, as the region has a large population and growing awareness about sustainability. Europe and North America are also significant markets for PBAT due to the strict regulations on plastic waste and increasing demand for sustainable products.

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The key players in this market are BASF SE (Germany), Novamont S.p.A (Italy), Willeap (South Korea), Kingfa (China), Hangzhou Peijin Chemical Co. Ltd (China), Zhejiang Biodegradable Advanced Material Co. Ltd (China), Anhui Jumei Biotechnology (China), Go Yen Chemical Industrial Co., Ltd (Taiwan), Jinhui Zhaolong Advanced Technology Co. Ltd (China), Mitsui Plastics, Inc (US), and Chang Chun Group (China). These companies are investing in research and development to improve the performance and properties of PBAT and to expand their market presence.

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This release was published on openPR.