Market Synopsis of Poly (Butylene Adipate-Co-Terephthalate) —
Poly (Butylene Adipate-Co-Terephthalate) (PBAT) is a plastic produced from 1, 4 butanediols, dimethyl terephthalate and adipic acid. It is transparent, biodegradable, and compostable in nature and can be used in extrusion and injection molding processes. Globally, PBAT has a range of applications as composite bags, bin bags, mulch films, cling films, stabilizers, and others with the end use in industry such as packaging, agriculture & fishery, consumer goods, coatings, and others.
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The global PBAT market is being driven by various factors such as increasing application in packaging industry coupled with rising government policies toward green procurement. A significant increase in the plastic packaging production and sales, specifically in emerging economies of Europe, the Asia Pacific and Latin America such as France, Germany, the U.K, Italy, China, India, Thailand, South Korea, Brazil, Mexico, and Argentina are set to propel the market growth over the forecast period. Better economic situation and consumer preference toward environment-friendly products have resulted in the increasing demand for PBAT. In addition to this, the major initiatives taken by the government and non-government organizations across the globe towards reducing pollution is set to uplift the demand over the next seven years. As per the MRFR analysis, the global PBAT market is estimated to reach USD 636.96 million by 2023 at a CAGR of 14.89% over the forecast period due to aforementioned factors that fuel the overall market.
The scope of the global PBAT market study includes the value market size and a detailed analysis of vendor products and strategies. The report covers North America, Latin America, Asia Pacific, Europe and the Middle East & Africa. Europe is the largest market followed by North America and the Asia Pacific. The European region offers a huge growth potential to PBAT market and is slated to register the highest CAGR of 15.01% to reach USD 285.4 million by 2023 owing to the growing consumer demand for products with a reduced environmental impact in the region. Asia Pacific region is estimated to witness a CAGR of 14.9% during the forecast period due to the improved agriculture sector and increasing industrial investment in the developing economies in the region. Turkey’s PBAT consumption market was USD 0.92 million in 2016 and is accounted for largest market share in the Middle East & Africa. The region is expected to witness a CAGR of 14.08% due to rising use of PBAT in various applications such as composite bags, mulch films, and bin bags.
Global PBAT market is segmented based on application, end-user, and region. Based on the application, PBAT market is segmented into composite bags, bin bags, mulch films, cling films, stabilizers, and others. In terms of the end user, the global PBAT market is divided into packaging, agriculture & fishery, consumer goods, coatings, and others. Based on the regions, the market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
Some of the key players in the global PBAT market are Lotte Fine Chemical Co., Ltd., BASF SE, SK Chemicals, Novamont S.p.A., Eastman Chemical Company, WILLEAP, Jinhui Zhaolong High Technology, Jiangsu Torise biomaterials co., ltd, and Far Eastern New Century Corporation.
The report covers brief analysis of geographical region such as:
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• The Middle East & Africa
o Rest of Middle East & Africa
Global PBAT market is projected to reach USD 636.96 million by 2023 at a CAGR of 14.89% during the review period 2017-2023. Based on value and volume, Europe accounted for the largest regional market share of around 44.5%. Based on end user, packaging segment accounted for the largest share of 62.0% in 2016, with a market value of USD 150.43 million and is projected to grow at the highest CAGR of 15.03% due to the excellent fit of properties of PBAT in the packaging market.
• Poly (Butylene Adipate-Co-Terephthalate) (PBAT) manufacturers
• Traders and distributors of Poly (Butylene Adipate-Co-Terephthalate) (PBAT)
• Production process industries
• Potential investors
• Raw material suppliers
• Poly (Butylene Adipate-Co-Terephthalate)
• Biodegradable plastics
• Biodegradable mulch film
• Biodegradable plastic bag
• Green plastic
• Environment friendly plastics
• Low VOC plastics
• Biodegradable film
• Green film
• PBAT mulch film
Table of Content: Key Points
1 Report Prologue
2 Market Definition
3 Research Methodology
4 Market Dynamics
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