Polybutylene adipate terephthalate (PBAT) refers to the renewable and biodegradable synthetic polymer manufactured using a combination of 1,4-butanediol, terephthalic acid, and adipic acid. The superior attributes of the product, which is poised to surge its uptake in sustainable packaging, are fostering the market growth. Owing to its high composability and biodegradability, PBAT is becoming popular in the packaging sector.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Polybutylene Adipate Terephthalate Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Forecast Growth Projected:
According to Fortune Business Insights the global polybutylene adipate terephthalate market size was valued at USD 184.0 million in 2023 and is projected to grow from USD 198.7 million in 2024 to USD 376.5 million by 2032 at a CAGR of 8.3% during the forecast period.
List of the Key Players in the Polybutylene Adipate Terephthalate Market:
BASF SE (Germany)
Novamont S.p.A. (Norway)
Kingfa Sci.&Tech. Co.,Ltd. (China)
OerlikonBarmagHuitong (Yangzhou) Engineering Co., Ltd. (China)
Xinjiang Blue Ridge Tunhe Sci.&Tech. Co., Ltd. (China)
Jin Hui Zhao Long High Tech Co., Ltd. (China)
DAWN (China)
Mitsubishi Corporation (Hong Kong) Limited. (Japan)
Entec Polymers (U.S.)
Hangzhou Peijin Chemical Co., Ltd. (China)
Segmentation:
Surging Consumer Demand for Sustainable Packaging Solutions to Fuel the Segment Expansion
On the basis of application, the market is divided into agriculture & horticulture, consumer goods, coatings & adhesives, packaging, and others. The packaging segment captured the largest polybutylene adipate terephthalate market share in 2023. The growing regulatory and consumer demand for sustainable packaging solutions is bolstering the adoption of the product in the packaging sector.
On the regional front, the market is segmented into Europe, the Asia Pacific, North America, and the rest of the world.
Report Coverage
The research report provides an in-depth analysis of the prominent driving and restraining factors impacting the market growth. It further offers a comprehensive coverage of the major segments, the top trends, and the impact of the COVID-19 pandemic on the market growth. It also comprehensively discusses the strategic measures implemented by leading players in the polybutylene adipate terephthalate market to achieve a competitive advantage.
Drivers and Restraints:
Developments in Bio-based PBAT and Production Process to Surge Sustainability and Economic Viability, Fueling the Market Growth
Renewable feedstock, including agricultural waste or plant oils instead of fossil fuels is used to make bio-based PBAT. This move toward renewable raw materials shows consistency with the growing focus on transforming to a circular economy and sustainability. Along with the development of biobased PBAT, advancements have been made in the production processes of the product manufacturing industry. Thus, these factors are impelling the polybutylene adipate terephthalate market growth.
Regional Insights:
Asia Pacific Dominates Due to Growing Environmental Awareness
The Asia Pacific market for polybutylene adipate terephthalate captures the largest share. This is on the back of the surging awareness pertaining to the environment, urbanization, and quick industrialization in nations including South Korea, India, Japan, and China.
North America market growth can be credited to the rising consumer demand for sustainable options to traditional plastics, which has driven product uptake.
Competitive Landscape:
Key Companies Actively Engage in Various Strategies to Enhance Their Market Position
The polybutylene adipate terephthalate market is witnessing the active engagement of prominent manufacturers of the product in different strategic moves to capitalize on the rising demand for biodegradable materials while making their market position strong. In addition, these players are making investments in R&D and upgradation of technology to enhance product performance and production efficiency.
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