The global   polybutylene adipate terephthalate market   size was valued at USD 184.0 million in 2023. The industry is expected to expand from USD 198.7 million in 2024 to USD 376.5 million by 2032, exhibiting a CAGR of 8.3% over the study period.

Polybutylene adipate terephthalate (PBAT) means a renewable and biodegradable synthetic polymer made by combining terephthalic acid, 1,4-butanediol, and adipic acid. It possesses superior toughness, processability, and flexibility, which makes it a popular choice for applications including agricultural films, packaging, and others. The growing demand for biodegradable plastics is impelling the market expansion.

Fortune Business Insights™   provides this information in its research report, titled   “Polybutylene Adipate Terephthalate Market, 2024-2032”.

Segmentation:

Exceptional Flexibility of the Product to Propel the Packaging Segment Growth

In terms of application, the market is segregated into consumer goods, packaging, coatings & adhesives, agriculture & horticulture, and others. The packaging segment occupied the largest share in the market in 2023. The product demonstrates superior processability, flexibility, and biodegradability, which makes it a preferred choice for different packaging formats such as pouches, bags, rigid containers, and flexible films. This factor is accelerating the packaging segment expansion.

Regionally, the market for polybutylene adipate terephthalate is classified into North America, Europe, the Asia Pacific, and the rest of the world.

Report Coverage

The strategic initiatives undertaken by top companies in the polybutylene adipate terephthalate market to reinforce their industry position have been mentioned in the report. Besides this, it provides vital insights into the latest trends, the COVID-19 pandemic impact, and notable industry developments. Other aspects of the report include the significant factors affecting the market growth.

Drivers and Restraints:

Product’s Exceptional Features to Impel its Uptake in   Sustainable Packaging, Escalating the Market Growth

Due to growing awareness of the environmental influence of single-use plastics among regulators and consumers, there is a rising requirement for sustainable packaging options. It is an appealing option to traditional petroleum-based plastic, especially for disposable tableware, shopping bags, and food packaging, owing to its capacity to degrade under industrial composting settings. Thus, these factors are augmenting the polybutylene adipate terephthalate market growth.

However, the finite production, weak waste infrastructure, and prohibitive costs may impede the market growth. The full realization of the product’s biodegradability advantages can be hindered due to the scarcity of composting facilities and comprehensive waste management infrastructure.

Regional Insights:

Asia Pacific Leads Owing to Favorable Government Regulations

The Asia Pacific registers the largest polybutylene adipate terephthalate market share. This can be credited to the strong packaging industry along with favorable policies and regulations by the government that encourage biodegradable materials.

Europe market growth can be ascribed to strict environmental regulations, such as EU’s Single-Use Plastics Directive, which has boosted the product uptake in packaging and other applications.

Get More Information:   https://www.fortunebusinessinsights.com/polybutylene-adipate-terephthalate-market-109772

Competitive Landscape:

Manufacturers Emphasize Development of Innovative Products to Diversify Their Portfolios

The emphasis of manufacturers is on the development of innovative PBAT-based formulations and applications for the diversification of their product portfolios. In addition, prominent players are opting for strategic partnerships and collaborations to boost their geographical reach, improve their overall competitiveness, and access new markets. Joint ventures, mergers & acquisitions, and product innovations are some of the strategies opted for by leading companies to stand out from the competition in the polybutylene adipate terephthalate market.

List of Key Players Mentioned in the Report:

• 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)