Polybutylene Adipate Terephthalate Market Top Companies Study - American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Polybutylene Adipate Terephthalate Market- (By Grade (Extrusion Grade, Thermoforming Grade, Other Grades), By Application (Films, Sheets & Bin Liners, Coating & Adhesive, Molded Products, Fibers And Other Applications), By End-Use Industry (Packaging, Consumer Goods, Agriculture, Bio-Medical, Other End Users)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Polybutylene Adipate Terephthalate Market is valued at US$ 1.54 Bn in 2022, and it is expected to reach US$ 4.29 Bn by 2031, with a CAGR of 12.25% during a forecast period of 2023-2031.

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Polybutylene Adipate Terephthalate (PBAT), a copolymer of adipic acid, is a biodegradable elastomeric polymer known for its ability to enhance mechanical properties. PBAT is a highly versatile and durable material widely utilized across various industries, including packaging, personal care products, biomedical applications, and commercial composting. The growing adoption of PBAT in diverse end-use sectors such as packaging, agriculture, medical research, and consumer products is expected to drive market growth.

PBAT is incorporated into a range of consumer goods and industrial applications, including sporting equipment, coatings, carpets, foam materials, electronics, agriculture, fisheries, and packaging. Its advantageous properties include high melting points, low stiffness and elastic modulus, as well as exceptional flexibility and toughness. Furthermore, PBAT's adaptability and strength allow it to be combined with rigid, biodegradable polymers for manufacturing bottles and other products. PBAT is used in the production of various items such as mulch films, stabilizers, composite bags, bin bags, and cling films, highlighting its broad applicability and functional benefits.

List of Prominent Players in the Polybutylene Adipate Terephthalate Market:
• BASF SE (Germany),
• Novamont S.p.A (Italy),
• Willeap (South Korea),
• Kingfa (China),
• Hangjhou 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),
• Chang Chun Group (China)
• Dongguan Xinhai Environmental-Friendly Material Co., Ltd
• Green Science Alliance
• Hengli Petrochemical
• Junyuan Petroleum Group
• KD. Feddersen & Co.
• Lotte Chemicals
• Nanjing Baitong New Material Co. Ltd
• 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
• Xinjiang Blue Ridge Tunhe Sci. & Tech. Co. Ltd
• Others.

Market Dynamics:
Drivers-
To reduce the overall production costs of PBAT materials, numerous market players are making significant investments in research and development. These efforts are focused on incorporating cost-effective components, such as starch, to lower manufacturing expenses while enhancing the mechanical properties of PBAT materials. Furthermore, the growing demand for smart packaging solutions aimed at minimizing food waste and single-use plastic products is expected to create lucrative opportunities for both established and emerging market participants.

PBAT's versatility and strength also enable it to be combined with rigid, biodegradable polymers for the production of bottles and other durable products. The polymer is widely used in manufacturing various products, including mulch films, stabilizers, composite bags, bin bags, and cling films, highlighting its broad industrial applications. The increasing awareness of effective waste management and the rising adoption of biodegradable products are expected to further drive the growth of the PBAT market.

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Challenges:
The elevated cost of polybutylene adipate terephthalate (PBAT) and cellulose acetate materials, coupled with the availability of more affordable alternatives and the widespread preference for conventional plastic products due to their lower cost and accessibility, pose significant challenges to the growth of the global PBAT market. Additionally, PBAT-based plastics exhibit relatively low thermomechanical properties and involve high production costs, which may further limit market expansion during the forecast period.

Regional Trends:
The Asia-Pacific PBAT market is expected to capture a substantial share of global revenue and is projected to grow at a significant compound annual growth rate (CAGR) in the near future. This growth is driven by strong market potential, increasing regional demand for environmentally sustainable products, rising disposable income levels, and rapid expansion in the food and beverage sector. Furthermore, growing consumer demand for biodegradable products, heightened interest in compostable packaging, and stringent government regulations supporting sustainable practices are key factors contributing to this trend.

Europe also holds a significant market share, supported by a large consumer base and the presence of major industry players. The growth of the regional PBAT market is further supported by increased consumer spending on e-commerce and the rising demand for sustainable packaging solutions.

Recent Developments:
• In May 2022, Lotte Chemical announced its intention to allocate a substantial investment of 11 trillion won ($8.6 billion) towards developing hydrogen energy, secondary battery material, and bioplastic industries by the conclusion of 2030. A proportion of this investment will be directed towards ventures within the United States. During the press conference on Thursday, the company announced its plans to allocate 11 trillion won towards several business sectors. Specifically, 4 trillion won will be directed towards the battery materials industry, 6 trillion won will be invested in the hydrogen energy business, and 1 trillion won will be allocated to the bioplastic business.
• In June 2020, A cooperation agreement was formed between BASF and China's Red Avenue New Materials Group, wherein the latter was granted a licence to manufacture and distribute certified compostable aliphatic-aromatic co-polyester, polybutylene adipate terephthalate (PBAT), adhering to BASF's established quality criteria.

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Segmentation of Polybutylene Adipate Terephthalate Market-
By Grade-
• Extrusion Grade
• Thermoforming Grade
• Other Grades
By Application-
• Films, Sheets & Bin Liners
• Coating & Adhesive
• Molded Products
• Fibers And Other Applications
By End-Use Industry
• Packaging
o Food Packaging
o Non-Food Packaging
• Consumer Goods
• Agriculture
o Mulch Films
o Netting
o Others
• Bio-medical
o Medical Devices
o Medical Consumables
o Bone Implants
• Other End-Use Industries
o Textiles
o Electronics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.