Polybutylene Adipate Terephthalate Market by Grade (Extrusion Grade, Thermoforming Grade), End-use Industries (Agriculture, Consumer Goods, Electronics) - Global Forecast 2024-2030

Polybutylene Adipate Terephthalate Market by Grade (Extrusion Grade, Thermoforming Grade), End-use Industries (Agriculture, Consumer Goods, Electronics) - Global Forecast 2024-2030

The Polybutylene Adipate Terephthalate Market size was estimated at USD 1.91 billion in 2023 and expected to reach USD 2.12 billion in 2024, at a CAGR 12.14% to reach USD 4.27 billion by 2030.

Polybutylene Adipate Terephthalate (PBAT) is an environment-friendly and compostable thermoplastic that finds applications in various industries such as agriculture, packaging, consumer goods, and textiles. The growth of PBAT is primarily driven by environmental regulations that promote the use of sustainable materials, growing awareness of plastic pollution, and the increasing demand for bio-based polymers. Innovations in compostable food packaging have opened up new opportunities for utilizing PBAT. This versatile material can be used in various applications, including textile fibers and disposable cutlery or utensils. However, the high cost compared to petroleum-based plastics has limitations in performance under certain conditions or environments. Technological advancements are being made to enhance the performance characteristics of PBAT and reduce production costs to overcome the challenges. Ongoing research is exploring the use of novel catalysts and process improvements to boost reaction efficiency and lower production expenses. Moreover, hybrid materials combining PBAT with other bio-based or biodegradable polymers offer synergistic properties tailored for specific applications while maintaining sustainability credentials.

Regional Insights

Polybutylene Adipate Terephthalate (PBAT) is experiencing increased demand in the Americas, driven by government regulations promoting eco-friendly materials and the growth of e-commerce. In the European Union, strict regulations aimed at reducing single-use plastics have contributed to the rising demand for sustainable alternatives like PBAT. Similarly, in Asia Pacific markets such as China, Japan, and India, environmental concerns are influencing consumer preferences and driving investments in green technology initiatives that involve PBAT applications across various sectors. Moreover, emerging regions such as Africa and the Middle East are presenting potential growth opportunities for PBAT adoption, with research collaborations, patent filings, and innovative product launches contributing to this trend in the coming years.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Polybutylene Adipate Terephthalate Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Consumer inclination toward degradable plastics
Government support for the sustainable material/product use
Significant application in packaging industries

Market Restraints

High production and material cost of polybutylene adipate terephthalate

Market Opportunities

3D printing of polybutylene adipate terephthalate-based products
Widening application across textile and agriculture films

Market Challenges

Presence of several substitutes for polybutylene adipate terephthalate

Market Segmentation Analysis

Grade: Need-based preference for PBAT grades seeking sustainable alternatives to traditional plastics
End-use Industry:

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Polybutylene Adipate Terephthalate Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Polybutylene Adipate Terephthalate Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SKC to Build Global Hub for Biodegradable Plastics in Vietnam

SKC, a South Korean company, has received an investment license from the Hai Phong City Party Committee to establish an eco-friendly biodegradable material production hub in Vietnam. The facility aims to manufacture polybutylene adipate terephthalate (PBAT), a crucial material for biodegradable products,

SKC Collaborates with Chandra Asri to Grow the Biodegradable Industry

SK Group's chemical division, SKC, has signed a memorandum of understanding with Chandra Asri, Indonesia's largest petrochemical manufacturer. The purpose of this collaboration is to expand their eco-friendly materials business in Southeast Asia.

Reliance Industries Develops Compostable and Bio-degradable Polymer – Polybutylene Adipate Terephthalate

Reliance Industries Ltd (RIL) has successfully developed Polybutylene Adipate Terephthalate (PBAT), a bio-degradable and compostable polymer. This innovative material serves as a sustainable alternative to fossil fuel-based materials, aligning with India's ban on single-use plastic.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Polybutylene Adipate Terephthalate Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Polybutylene Adipate Terephthalate Market, highlighting leading vendors and their innovative profiles. These include AMCO Polymers, LLC, Anhui Jumei Biotechnology Co., Ltd., BASF SE, Chang Chun Group, Dongguan Xinhai Environmental-Friendly Material Co., Ltd., Eastman Chemical Company, Far Eastern New Century Corporation, Go Yen Chemical Industrial Co., Ltd, GS Alliance Co., Ltd., Hengli Group, Jiangsu Torise Biomaterials Co., Ltd, Jin Hui Zhao Long High Tech Co., Ltd., Junyuan Petroleum Group, K.D. Feddersen Holding Gmb, Kingfa Sci. & Tech. Co., Ltd., Lotte Chemical Corporation, Merck KGaA, Mitsui Plastics, Inc., Novamont S.p.A., PycnoPlast BV, Qingdao Zhoushi Plastic Packaging Co., Ltd., Red Avenue New Materials Group Co., Ltd., Setral Chemie GmbH, Sga Polychem Pvt. Ltd., Sipol S.p.a., Swicofil AG, and Welinks Group (Zhangjiagang) Co., Ltd.

Market Segmentation & Coverage

This research report categorizes the Polybutylene Adipate Terephthalate Market to forecast the revenues and analyze trends in each of the following sub-markets:

Grade
Extrusion Grade
Thermoforming Grade
End-use Industries
Agriculture
Consumer Goods
Electronics
Medical Devices & Consumables
Packaging
Textiles
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year