Polybutylene Adipate Terephthalate Market
Polybutylene Adipate Terephthalate Market Forecasts to 2028 - Global Analysis By Type (Pure PBAT and Modified/Blended PBAT), Grade (Thermoforming Grade, Extrusion Grade and Other Grades ), Application, End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.3 BN |
|
Projected Year Value (2028) |
US $2.1 BN |
|
CAGR (2022 - 2028) |
8.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Polybutylene Adipate Terephthalate Market is accounted for $1.3 billion in 2022 and is expected to reach $2.1 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Polybutylene Adipate Terephthalate (PBAT) is a copolymer of adipate acid. PBAT is from a class of biodegradable plastic. It is an elastomeric polymer whose enhanced mechanical characteristics are well recognised. A wide range of applications, ranging from packaging, hygiene items, biomedical areas, and industrial composting, employ PBAT due to its great flexibility and durability.
According to an ETH Zurich study, they found that PBAT completely biodegrades in soil over the course of six weeks, making it a perfect substitute for PE.
Market Dynamics:
Driver:
Enhances toughness without affecting biodegradability
PBAT is ductile and durable. It is produced using standard film extrusion methods. This makes it easier to produce films with low density polyethylene. Incorporating PBAT can increase the toughness of polymer blends that comprise brittle polymers like PLA (Polylactic Acid) or thermoplastic starch (TPS) without affecting their biodegradability. It is relatively stiff when compared to its homopolymers. These elements are accelerating its market demand.
Restraint:
High cost of production
The production of bio-based polymers is relatively costly in comparison to conventional plastics. Pure PBAT production necessitates the use of advanced machinery and tools. In addition to this, producing such chemicals often comes with a significant operating expense. This factor limits its large-scale production and hinders the market growth.
Opportunity:
Raising popularity of mulch films
Mulch films are growing in prominence among farmers all over the world since their installation helps to create favourable microclimate conditions that hasten crop development. Mulch plastic films are expected to see robust demand in accordance with rising food demand because of their unrivalled efficacy in enhancing agricultural output.
Threat:
Easy availability of alternatives
There are many biodegradable materials that could turn out to be more advantageous than PBAT in certain circumstances. They include polylactic acid (PLA), polyhydroxyalkanoate (PHA), and starch-based polymers. PLA is the biodegradable material that is most frequently chosen over PBAT. More preference for the alternatives hampers the market demand.
Covid-19 Impact
During the corona virus pandemic, manufacturers invested in new materials due to the erratic demand. The COVID-19 epidemic has increased demand for plastic and single-use packaging. Shopping bags, packaging options and other polymer-based items have been produced at breakneck speeds by manufacturers in the PBAT (polybutylene adipate terephthalate) sector.
The packaging & bags segment is expected to be the largest during the forecast period
The packaging & bags segment is estimated to have a lucrative growth, due to constantly expanding population. The need for packaged goods, the widespread use of intelligent packaging, and growing consumer awareness of sustainable packaging are all examples of how consumer tastes are evolving and driving the segment's expansion.
The films & sheets segment is expected to have the highest CAGR during the forecast period
The films & sheets segment is anticipated to witness the fastest CAGR growth during the forecast period. Depending on the required end-use application, PBAT films can be transparent, translucent, or opaque. In addition to having excellent printability and sealability, PBAT films are appropriate for use in flexible packaging applications. The market demand is being fuelled by its advantages, comprising high stretchability, flexibility, and good processability.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the high presence of key players and sizeable consumer base. This region is a desirable investment location for PBAT makers due to the availability of cheap manpower and raw materials. Rapid urbanisation and rising consumer expenditure on food and drinks as well as online shopping in the emerging economies such as India, Japan, Australia and China are propelling the market growth in this region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the raising environmental concerns. This region has stringent governmental regulations that are forcing industries to reduce their carbon footprint. During the forecast period, it is predicted that increased government policies to support the use of bioplastics and increased awareness of the usage of biodegradable plastics would drive demand for polybutylene adipate terephthalate in the area.
Key players in the market
Some of the key players profiled in the Polybutylene Adipate Terephthalate Market include BASF SE, Eastman Chemical Company, Novamont S.p.A., FillPlas Co. Ltd, SK Chemicals, Feddersen Group, Amco Polymers, GO YEN CHEMICAL INDUSTRIAL CO LTD, Lotte Fine Chemical Co., Ltd., JinHui ZhaoLong High Technology Co., Ltd, WILLEAP, Chang Chun Group, Far Eastern New Century Corporation and Jiangsu Torise biomaterials co., Ltd.
Key Developments:
In May 2022, BASF has launched a material polybutylene terephthalate (PBT) Ultradur B4335G3 HR HSP which protects sensitive electronics which are critical in driving situations such as an emergency break. The new product grade represents a significant expansion of the Ultradur HR portfolio.
In October 2021, Amco Polymers (AMCO) has launched a redesigned Mobility Focused Business Strategy. This initiative includes the addition of experienced industry leadership and a new mobility-focused product portfolio designed to provide leading solutions to support the latest developments in the mobility industry.
Types Covered:
• Pure PBAT
• Modified/Blended PBAT
Grades Covered:
• Thermoforming Grade
• Extrusion Grade
• Other Grades
Applications Covered:
• Molded Products
• Fibers
• Coatings & Adhesives
• Films & Sheets
• Shopping Bags
• Composite Bags
• Mulch Films
• Cling Films
• Stabilizers
• Food Packages
• Garbage/Bin Bags
• Fishing Nets
• Medical Clothing
• Other Applications
End Users Covered:
• Consumer Durables
• Packaging & Bags
• Textiles
• Agriculture
• Horticulture
• Fishery
• Bio-Medical
• Coatings
• Homecare
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Polybutylene Adipate Terephthalate Market, By Type
5.1 Introduction
5.2 Pure PBAT
5.3 Modified/Blended PBAT
6 Global Polybutylene Adipate Terephthalate Market, By Grade
6.1 Introduction
6.2 Thermoforming Grade
6.3 Extrusion Grade
6.4 Other Grades
7 Global Polybutylene Adipate Terephthalate Market, By Application
7.1 Introduction
7.2 Molded Products
7.3 Fibers
7.4 Coatings & Adhesives
7.5 Films & Sheets
7.6 Shopping Bags
7.7 Composite Bags
7.8 Mulch Films
7.9 Cling Films
7.10 Stabilizers
7.11 Food Packages
7.12 Garbage/Bin Bags
7.13 Fishing Nets
7.14 Medical Clothing
7.15 Other Applications
8 Global Polybutylene Adipate Terephthalate Market, By End User
8.1 Introduction
8.2 Consumer Durables
8.3 Packaging & Bags
8.4 Textiles
8.5 Agriculture
8.6 Horticulture
8.7 Fishery
8.8 Bio-Medical
8.9 Coatings
8.10 Homecare
8.11 Other End Users
9 Global Polybutylene Adipate Terephthalate Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 BASF SE
11.2 Eastman Chemical Company
11.3 Novamont S.p.A.
11.4 FillPlas Co. Ltd
11.5 SK Chemicals
11.6 Feddersen Group
11.7 Amco Polymers
11.8 GO YEN CHEMICAL INDUSTRIAL CO LTD
11.9 Lotte Fine Chemical Co., Ltd.
11.10 JinHui ZhaoLong High Technology Co., Ltd
11.11 WILLEAP
11.12 Chang Chun Group
11.13 Far Eastern New Century Corporation
11.14 Jiangsu Torise biomaterials co., Ltd
List of Tables
1 Global Polybutylene Adipate Terephthalate Market Outlook, By Region (2020-2028) ($MN)
2 Global Polybutylene Adipate Terephthalate Market Outlook, By Type (2020-2028) ($MN)
3 Global Polybutylene Adipate Terephthalate Market Outlook, By Pure PBAT (2020-2028) ($MN)
4 Global Polybutylene Adipate Terephthalate Market Outlook, By Modified/Blended PBAT (2020-2028) ($MN)
5 Global Polybutylene Adipate Terephthalate Market Outlook, By Grade (2020-2028) ($MN)
6 Global Polybutylene Adipate Terephthalate Market Outlook, By Thermoforming Grade (2020-2028) ($MN)
7 Global Polybutylene Adipate Terephthalate Market Outlook, By Extrusion Grade (2020-2028) ($MN)
8 Global Polybutylene Adipate Terephthalate Market Outlook, By Other Grades (2020-2028) ($MN)
9 Global Polybutylene Adipate Terephthalate Market Outlook, By Application (2020-2028) ($MN)
10 Global Polybutylene Adipate Terephthalate Market Outlook, By Molded Products (2020-2028) ($MN)
11 Global Polybutylene Adipate Terephthalate Market Outlook, By Fibers (2020-2028) ($MN)
12 Global Polybutylene Adipate Terephthalate Market Outlook, By Coatings & Adhesives (2020-2028) ($MN)
13 Global Polybutylene Adipate Terephthalate Market Outlook, By Films & Sheets (2020-2028) ($MN)
14 Global Polybutylene Adipate Terephthalate Market Outlook, By Shopping Bags (2020-2028) ($MN)
15 Global Polybutylene Adipate Terephthalate Market Outlook, By Composite Bags (2020-2028) ($MN)
16 Global Polybutylene Adipate Terephthalate Market Outlook, By Mulch Films (2020-2028) ($MN)
17 Global Polybutylene Adipate Terephthalate Market Outlook, By Cling Films (2020-2028) ($MN)
18 Global Polybutylene Adipate Terephthalate Market Outlook, By Stabilizers (2020-2028) ($MN)
19 Global Polybutylene Adipate Terephthalate Market Outlook, By Food Packages (2020-2028) ($MN)
20 Global Polybutylene Adipate Terephthalate Market Outlook, By Garbage/Bin Bags (2020-2028) ($MN)
21 Global Polybutylene Adipate Terephthalate Market Outlook, By Fishing Nets (2020-2028) ($MN)
22 Global Polybutylene Adipate Terephthalate Market Outlook, By Medical Clothing (2020-2028) ($MN)
23 Global Polybutylene Adipate Terephthalate Market Outlook, By Other Applications (2020-2028) ($MN)
24 Global Polybutylene Adipate Terephthalate Market Outlook, By End User (2020-2028) ($MN)
25 Global Polybutylene Adipate Terephthalate Market Outlook, By Consumer Durables (2020-2028) ($MN)
26 Global Polybutylene Adipate Terephthalate Market Outlook, By Packaging & Bags (2020-2028) ($MN)
27 Global Polybutylene Adipate Terephthalate Market Outlook, By Textiles (2020-2028) ($MN)
28 Global Polybutylene Adipate Terephthalate Market Outlook, By Agriculture (2020-2028) ($MN)
29 Global Polybutylene Adipate Terephthalate Market Outlook, By Horticulture (2020-2028) ($MN)
30 Global Polybutylene Adipate Terephthalate Market Outlook, By Fishery (2020-2028) ($MN)
31 Global Polybutylene Adipate Terephthalate Market Outlook, By Bio-Medical (2020-2028) ($MN)
32 Global Polybutylene Adipate Terephthalate Market Outlook, By Coatings (2020-2028) ($MN)
33 Global Polybutylene Adipate Terephthalate Market Outlook, By Homecare (2020-2028) ($MN)
34 Global Polybutylene Adipate Terephthalate Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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