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, 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184395122
“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.
Get a Sample Copy of This Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=184395122
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.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=184395122
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.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/polybutylene-adipate-terephthalate-market-184395122.html