Polybutylene Adipate Terephthalate Market Demand, Segments, Growth, Size Insights, Share, and Future Growth and Key Players Analysis

The Polybutylene Adipate Terephthalate (PBAT) market is growing due to rising demand for biodegradable plastics in packaging, agriculture, and consumer goods. Increasing environmental regulations and sustainability goals drive market expansion, with Europe and Asia-Pacific leading in adoption and production advancements.
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. This report provides a detailed overview of the market scenario, including a thorough analysis of the PBAT market size [https://www.marketsandmarkets.com/Market-Reports/polybutylene-adipate-terephthalate-market-184395122.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=polybutyleneadipateterephthalate], sales quantity, average price, revenue, gross margin and market share. High demand in developing countries due to growing consumer awareness for the use of bio-based products and increasing application of PBAT in packaging and consumer goods industry are driving the market for PBAT. The PBAT market is mainly driven by the increase in consumer awareness and growing demand in end-use industries like packaging, consumer goods, agriculture and bio-medical, among other industries. Moreover, it is also driven by rapidly developing market in the Asia Pacific region.

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"Agriculture industry is projected to grow at fastest CAGR, in terms of value, during the forecast period."

PBAT is widely used in the agricultural end-use industry due to its biobased content and biodegradability. Farmers have been using PBAT and PBS mulch films to improve crop productivity and soil quality. These polymers are also used in the cultivation, harvesting, and processing of agricultural products. Agricultural films can also be used in making plant pots. The mulch films were incorporated into the soil, and the biodegradability and water-solubility of PBAT increased. This led to an increased demand for PBAT in agriculture.

"Extrusion grade is projected to be the largest growing grade in the PBAT market, in terms of value."

Extrusion is a common processing method used for PBAT resin to manufacture various products, such as blown films, sheets, and profiles. The extrusion process involves melting the PBAT resin in an extruder and then pushing the molten material through a die to form the desired shape. Extrusion is used more frequently than thermoforming in the production of PBAT products. This is because PBAT has good melt strength and viscosity, which makes it suitable for processing using extrusion techniques.

"Asia Pacific is expected to be the fastest growing market for PBAT during the forecast period, in terms of value."

The availability of low cost raw material and labour in the Asia Pacifc region attracts foreign manufacturers to establish their manufacturing plants. Government initiatives against global warming and single use plastic bans will also boost the PBAT market in the region. In addition, rising application of PBAT in packaging, consumer goods, agriculture and bio-medical will drive the PBAT market. The low living standard and low disposable income of the people in Asia Pacifc will result in price reduction of PBAT in the region.

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Polybutylene Adipate Terephthalate Companies

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 players have adopted various strategies such as mergers & acquisitions, new product launches and investment & expansion to strengthen their market position. For instance, in May 2020, BASF SE and Red Avenue New Materials Group signed a joint agreement granting Red Avenue New Materials Group the license to produce and sell certified compostable aliphatic-aromatic co-polyester (PBAT) according to high BASF quality standards.

BASF SE is a leading manufacturer and distributor of chemicals, plastics, and performance materials. The company is committed to sustainability and strongly focuses on developing and producing sustainable products, including biopolymers. It operates under six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. The company offers PBAT-based biodegradable products through the performance material business segment. It caters to a wide range of industrial applications, including automotive manufacturing, packaging, sports & leisure, medical technology, construction, solar thermal energy, and photovoltaics. The company holds one of the top three market positions in around 80% of the business areas in which it is active. The company operates in more than 80 countries across the Americas, Europe, Asia Pacific, Africa, and the Middle East. It has 13 operating divisions with 84 strategic business units. BASF SE operates globally through its subsidiaries, with more than 338 production sites worldwide.

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Kingfa is a leading manufacturer and supplier of many biodegradable and advanced materials. The company is primarily engaged in the research & development, production, sales & servicing of chemical products, and innovative materials. The company offers a wide range of PBAT-based biodegradable products under the Kingfa medical business segment. The company caters to a wide range of industrial applications, including packaging, mulching film, disposable tableware, transportation, and others.

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