The Polybutylene Adipate Terephthalate Market size was valued at USD 1.72 billion in 2023 and is expected to grow to USD 4.61 billion by 2031 and grow at a CAGR of 12.95% over the forecast period of 2024-2031.
Poly (butylene adipate-co-terephthalate) (PBAT), also known as poly butyrate, is a versatile and eco-friendly thermoplastic copolyester that can be easily molded and thermoformed. This semi-aromatic material boasts a range of attractive properties that are similar to H polyethylene, including high elongation at break (30-40%), moderate impact and puncture toughness, and excellent biodegradability. However, it does have moderate tensile strength and low stiffness. PBAT has found widespread use in a variety of applications, including shopping bags, garbage bags, cutlery, and mulch film. Its biodegradability makes it an ideal choice for environmentally conscious consumers and businesses looking to reduce their carbon footprint. Additionally, its ease of processing and versatility make it a popular choice for manufacturers seeking a sustainable alternative to traditional plastics.
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PBAT's versatility makes it a valuable material in various industries. Its water-resistant properties make it an ideal coating for products that require protection from moisture, such as paper cups. In the smart textile industry, PBAT is used to create durable and long-lasting fabrics. Consumer goods like tableware and tablecloths benefit from PBAT's strength and resistance to wear and tear. In the medical field, PBAT is used to create gauze that is both strong and absorbent. Additionally, PBAT is utilized in the production of hygiene products like diapers, which require materials that are both soft and durable. Finally, PBAT is used in the creation of personal protective equipment like gloves and breathing masks, which require materials that are both strong and flexible.
Drivers
Increasing demand for PBAT to reduce the environmental issues
Increasing awareness about bio-based products
Policies imposed by the government to use the biodegradable plastics
Favorable properties of PBAT
As the world becomes increasingly aware of the environmental impact of non-biodegradable plastics, governments are taking action to reduce their usage. This has led to a surge in demand for PBAT, a biodegradable plastic that is made from renewable resources and can be easily decomposed by natural processes. The PBAT Market is expected to continue its growth as more countries adopt policies that promote the use of sustainable materials. This presents a significant opportunity for businesses operating in the PBAT industry to expand their operations and meet the growing demand for eco-friendly products.
Restrain
Availability of alternative products
High cost of PBAT as compared to other competitive products
PBAT is a biodegradable polymer that has gained popularity due to its eco-friendly properties. However, the market for PBAT faces challenges due to the availability of alternative products such as PLA, PHA, etc. that offer similar benefits. This constraint has led to increased competition in the market, with manufacturers striving to differentiate their products and offer unique value propositions.
Opportunities
High potential of PBAT in the developing countries
Trend toward online shopping of food and beverages
Increasing need for sustainable packaging across various manufacturing unit
Challenges
High preference for conventional plastic products due to the cheaper
The Covid-19 pandemic affected the polybutylene adipate terephthalate (PBAT) market significantly. PBAT is a biodegradable polymer that is widely used in various industries, including packaging, agriculture, and textiles. However, the pandemic has disrupted the supply chain and demand for PBAT, leading to a shift in the market dynamics. The pandemic has caused a decrease in the demand for PBAT due to the closure of several industries and a decrease in consumer spending. The packaging industry, which is one of the major consumers of PBAT, has been affected by the pandemic due to the closure of restaurants, hotels, and other businesses. This has led to a decrease in the demand for PBAT-based packaging products. On the other hand, the pandemic has also led to an increase in the demand for PBAT in the healthcare industry. PBAT is used in the production of medical equipment, such as face shields, masks, and gowns. The pandemic has led to a surge in demand for these products, leading to an increase in the demand for PBAT. The pandemic has also disrupted the supply chain of PBAT. The closure of borders and restrictions on the movement of goods has led to a shortage of raw materials and delayed shipments. This has led to an increase in the prices of PBAT products, making them less affordable for consumers.
The ongoing conflict between Russia and Ukraine impacted various industries, including the polybutylene adipate terephthalate (PBAT) market. The war has disrupted the supply chain of PBAT, as Ukraine is one of the major producers of adipic acid, a key raw material used in the production of PBAT. The conflict has led to a decrease in the production of adipic acid, resulting in a shortage of PBAT in the market.
The economic downturn impacted the polybutylene adipate terephthalate (PBAT) market significantly. The recession has caused a decline in demand for PBAT products, leading to a decrease in market growth. The decrease in consumer spending has led to a decline in demand for PBAT products, particularly in the packaging industry. As consumers are spending less money, they are also purchasing fewer products, resulting in a decrease in demand for packaging materials. This has had a direct impact on the PBAT market, as packaging is one of the primary applications of PBAT.
By Grade:
Extrusion Grade
Thermoforming Grade
Others
By End-use Industry:
Packaging
Agriculture and Fishery
Consumer Goods and Homecare
Coatings
By Application:
Composite Bags
Bin Bags
Mulch Films
Cling Films
Stabilizers
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The PBAT market in the Asia-Pacific region is currently dominating and is expected to continue growing at a significant CAGR during the forecast period. This growth can be attributed to the large customer base in countries such as India, Japan, and China. As disposable income increases and the population grows, customers are shifting their focus towards packaged food, which is driving the packaging sector and ultimately propelling the PBAT market in this region. Furthermore, there is an increasing awareness of the benefits of using biodegradable plastic compared to conventional plastics. Governments are also imposing regulations on the use of biobased products, which will further drive the market for PBAT in the coming years.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Feddersen Group, Novamont S.p.A., JinHui ZhaoLong High Technology Co., Ltd., Eastman Chemical Company, SK Chemicals, Willeap, and other key players will be included in the final report.
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.72 Bn |
| Market Size by 2031 | US$ 4.61 Bn |
| CAGR | CAGR of 12.95% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Grade (Extrusion Grade, Thermoforming Grade, and Others) • By End-use Industry (Packaging, Agriculture and Fishery, Consumer Goods and Homecare, Coatings) • By Application (Composite Bags, Bin Bags, Mulch Films, Cling Films, and Stabilizers) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Feddersen Group, Novamont S.p.A., JinHui ZhaoLong High Technology Co., Ltd., Eastman Chemical Company, SK Chemicals, Willeap |
| Key Drivers | • Increasing demand for PBAT to reduce the environmental issues • Increasing awareness about bio-based products |
| Market Opportunities | • High potential of PBAT in the developing countries • Trend toward online shopping of food and beverages |
The expected CAGR of the global Polybutylene Adipate Terephthalate Market during the forecast period is 12.95%.
The market size of the Polybutylene Adipate Terephthalate Market is USD 1.72 billion in 2023.
The major key players in the Polybutylene Adipate Terephthalate Market are BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Feddersen Group, Novamont S.p.A., JinHui ZhaoLong High Technology Co., Ltd., Eastman Chemical Company, SK Chemicals, and Willeap.
Asia-Pacific region dominated the Polybutylene Adipate Terephthalate Market.
The availability of alternative products and the high cost of PBAT as compared to other competitive products are the restraining factors of the Polybutylene Adipate Terephthalate Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Polybutylene Adipate Terephthalate Market Segmentation, By Grade
8.1 Extrusion Grade
8.2 Thermoforming Grade
8.3 Others
9. Polybutylene Adipate Terephthalate Market Segmentation, By End-use Industry
9.1 Packaging
9.2 Agriculture and Fishery
9.3 Consumer Goods and Homecare
9.4 Coatings
10. Polybutylene Adipate Terephthalate Market Segmentation, By Application
10.1 Composite Bags
10.2 Bin Bags
10.3 Mulch Films
10.4 Cling Films
10.5 Stabilizers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Polybutylene Adipate Terephthalate Market by Country
11.2.2North America Polybutylene Adipate Terephthalate Market by Grade
11.2.3 North America Polybutylene Adipate Terephthalate Market by End-use Industry
11.2.4 North America Polybutylene Adipate Terephthalate Market by Application
11.2.5 USA
11.2.5.1 USA Polybutylene Adipate Terephthalate Market by Grade
11.2.5.2 USA Polybutylene Adipate Terephthalate Market by End-use Industry
11.2.5.3 USA Polybutylene Adipate Terephthalate Market by Application
11.2.6 Canada
11.2.6.1 Canada Polybutylene Adipate Terephthalate Market by Grade
11.2.6.2 Canada Polybutylene Adipate Terephthalate Market by End-use Industry
11.2.6.3 Canada Polybutylene Adipate Terephthalate Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Polybutylene Adipate Terephthalate Market by Grade
11.2.7.2 Mexico Polybutylene Adipate Terephthalate Market by End-use Industry
11.2.7.3 Mexico Polybutylene Adipate Terephthalate Market by Application
11.3 Europe
11.3.1 Europe Polybutylene Adipate Terephthalate Market by Country
11.3.2 Europe Polybutylene Adipate Terephthalate Market by Grade
11.3.3 Europe Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.4Europe Polybutylene Adipate Terephthalate Market by Application
11.3.5Germany
11.3.5.1 Germany Polybutylene Adipate Terephthalate Market by Grade
11.3.5.2 Germany Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.5.3 Germany Polybutylene Adipate Terephthalate Market by Application
11.3.6 UK
11.3.6.1 UK Polybutylene Adipate Terephthalate Market by Grade
11.3.6.2 UK Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.6.3 UK Polybutylene Adipate Terephthalate Market by Application
11.3.7 France
11.3.7.1 France Polybutylene Adipate Terephthalate Market by Grade
11.3.7.2 France Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.7.3 France Polybutylene Adipate Terephthalate Market by Application
11.3.8 Italy
11.3.8.1 Italy Polybutylene Adipate Terephthalate Market by Grade
11.3.8.2 Italy Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.8.3 Italy Polybutylene Adipate Terephthalate Market by Application
11.3.9 Spain
11.3.9.1 Spain Polybutylene Adipate Terephthalate Market by Grade
11.3.9.2 Spain Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.9.3 Spain Polybutylene Adipate Terephthalate Market by Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Polybutylene Adipate Terephthalate Market by Grade
11.3.10.2 Netherlands Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.10.3 Netherlands Polybutylene Adipate Terephthalate Market by Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Polybutylene Adipate Terephthalate Market by Grade
11.3.11.2 Rest of Europe Polybutylene Adipate Terephthalate Market by End-use Industry
11.3.11.3 Rest of Europe Polybutylene Adipate Terephthalate Market by Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Polybutylene Adipate Terephthalate Market by Country
11.4.2 Asia Pacific Polybutylene Adipate Terephthalate Market by Grade
11.4.3 Asia Pacific Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.4 Asia Pacific Polybutylene Adipate Terephthalate Market by Application
11.4.5 Japan
11.4.5.1 Japan Polybutylene Adipate Terephthalate Market by Grade
11.4.5. 2Japan Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.5. 3 Japan Polybutylene Adipate Terephthalate Market by Application
11.4.6 South Korea
11.4.6.1 South Korea Polybutylene Adipate Terephthalate Market by Grade
11.4.6.2. South Korea Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.6.3. South Korea Polybutylene Adipate Terephthalate Market by Application
11.4.7 China
11.4.7.1 China Polybutylene Adipate Terephthalate Market by Grade
11.4.7.2. China Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.7.3. China Polybutylene Adipate Terephthalate Market by Application
11.4.8 India
11.4.8.1 India Polybutylene Adipate Terephthalate Market by Grade
11.4.8.2. India Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.8.3 India Polybutylene Adipate Terephthalate Market by Application
11.4.9 Australia
11.4.8.1 Australia Polybutylene Adipate Terephthalate Market by Grade
11.4.8.2. Australia Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.8.3. Australia Polybutylene Adipate Terephthalate Market by Application
11.4.10 Rest of Asia-Pacific
11.4.10.1 APAC Polybutylene Adipate Terephthalate Market by Grade
11.4.10.2. APAC Polybutylene Adipate Terephthalate Market by End-use Industry
11.4.10.3. APAC Polybutylene Adipate Terephthalate Market by Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Polybutylene Adipate Terephthalate Market by Country
11.5.2 The Middle East & Africa Polybutylene Adipate Terephthalate Market by Grade
11.5.3 The Middle East & Africa Polybutylene Adipate Terephthalate Market by End-use Industry
11.5.4 The Middle East & Africa Polybutylene Adipate Terephthalate Market by Application
11.5.5 Israel
11.5.5.1 Israel Polybutylene Adipate Terephthalate Market by Grade
11.5.5.2 Israel Polybutylene Adipate Terephthalate Market by End-use Industry
11.5.5.3 Israel Polybutylene Adipate Terephthalate Market by Application
11.5.6 UAE
11.5.6.1 UAE Polybutylene Adipate Terephthalate Market by Grade
11.5.6.2 Israel Polybutylene Adipate Terephthalate Market by End-use Industry
11.5.6.3 Israel Polybutylene Adipate Terephthalate Market by Application
11.5.7 South Africa
11.5.7.1 South Africa Polybutylene Adipate Terephthalate Market by Grade
11.5.7.2 South Africa Polybutylene Adipate Terephthalate Market by End-use Industry
11.5.7.3 South Africa Polybutylene Adipate Terephthalate Market by Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Polybutylene Adipate Terephthalate Market by Grade
11.5.8.2 Rest of Middle East & Asia Polybutylene Adipate Terephthalate Market by End-use Industry
11.5.8.3 Rest of Middle East & Asia Polybutylene Adipate Terephthalate Market by Application
11.6 Latin America
11.6.1 Latin America Polybutylene Adipate Terephthalate Market by Country
11.6.2. Latin America Polybutylene Adipate Terephthalate Market by Grade
11.6.3 Latin America Polybutylene Adipate Terephthalate Market by End-use Industry
11.6.4 Latin America Polybutylene Adipate Terephthalate Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Polybutylene Adipate Terephthalate Market by Grade
11.6.5.2 Brazil Polybutylene Adipate Terephthalate Market by End-use Industry
11.6.5.3Brazil Polybutylene Adipate Terephthalate Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Polybutylene Adipate Terephthalate Market by Grade
11.6.6.2 Argentina Polybutylene Adipate Terephthalate Market by End-use Industry
11.6.6.3 Argentina Polybutylene Adipate Terephthalate Market by Application
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Polybutylene Adipate Terephthalate Market by Grade
11.6.7.2 Rest of Latin America Polybutylene Adipate Terephthalate Market by End-use Industry
11.6.7.3Rest of Latin America Polybutylene Adipate Terephthalate Market by Application
12.Company Profile
12.1 BASF SE
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Zhejiang Biodegradable Advanced Material Co. Ltd
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Feddersen Group
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Novamont S.p.A.
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 JinHui ZhaoLong High Technology Co., Ltd.
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Eastman Chemical Company
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 SK Chemicals
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Willeap
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Use Cases and Best Practices
15. Conclusion
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