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Polybutylene Adipate Terephthalate Market: By Application, By End-User Outlook, By Grade and Region and Forecast
Polybutylene Adipate Terephthalate Market: By Application, By End-User Outlook, By Grade and Region and Forecast
Polybutylene Adipate Terephthalate (PBAT) Market was valued at US$ 1,430.2 million in 2023 and is poised to grow at a significant CAGR of 13.5% from 2024-2030. Polybutylene adipate terephthalate (PBAT) is a copolymer that is a biodegradable, semi-aromatic thermoplastic that is highly flexible, and tough and has a wide range of applications in packaging materials, biomedical products, industrial composting and hygiene products. These novel properties of PBAT make it an ideal choice for manufacturers to make biodegradable products and its packaging to cater to rising environmental issues caused by non-degradable plastics. According to Statista, each year more than 430 million tons of plastic is produced, out of this two third is one time use plastics. In addition, 11 million metric tons of plastic enter our oceans each year. PBAT provides a versatile option for these nonbiodegradable plastics owing to its properties like biodegradability, composability, being a renewable resource and providing a good barrier against gases and liquids helping to extend the shelf life of packaged goods and food items.
Due to its adaptability and hardness, it is used in manufacturing products such as cling films, composite bags, bin bags and mulch films. PBAT products are rapidly gaining popularity in the market owing to the increasing adoption of biodegradable plastics across the globe, increasing awareness among people, demand for high-quality food and preference for biodegradable mulch films in agriculture. But the lockdown imposed due to the COVID-19 pandemic has resulted in decreased demand for PBAT products, also, the revenue growth of PBAT has reduced owing to its high costs, availability of cheaper substitutes, supply chain disruption and more preference for cheaper and conventional non-biodegradable plastics. However, the market is expected to revive owing to the high demand from end-user industries, rise in biodegradable plastic in packaging, increase in preference for packaged food, favourable government policies towards green procurement, profitable opportunities to the market players are expected to fuel the polybutylene adipate terephthalate (PBAT) market in the forecast years. Furthermore, countries like India in 2022, Zimbabwe in 2017 and several countries are imposing a total ban on the use of single-use plastics thus further increasing the polybutylene adipate terephthalate (PBAT) market.
Study Period
2024-2030Base Year
2023CAGR
13.50%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The market is expected to rise owing to the awareness toward the use of biodegradable plastics, increased use of PBAT packaging for food material because of its anti-microbial property, government policies to promote the use of bioplastics, rapid urbanization and increased preference to PBAT mulching films for its composting property. The utilization of polybutylene adipate terephthalate (PBAT) across the various end-user industries such as packaging, agriculture, consumer goods and medical research is estimated to carve a way through the market. Moreover, it has a wide range of applications across industries such as consumer goods, athletic goods, coating, carpets, foam materials, electronics, agriculture, fisheries and packaging applications which are anticipated to fuel the growth of the polybutylene adipate terephthalate (PBAT) market over the forecast period.
The North America polybutylene adipate terephthalate (PBAT) market is expected expand at significant growth rate owing to the high presence of key players, the consumer base high for different products along with high numbers of manufacturers.
Additionally, the rise in consumer spending towards online shopping, the increased need of proper packaging and disposal in effective manners also boosts market growth within this region.
Europe polybutylene adipate terephthalate (PBAT) market is also estimated to show lucrative growth due to its increased awareness of environmental impact.
Asia Pacific polybutylene adipate terephthalate (PBAT) market is expected to register a robust increase in CAGR during the forecast years owing to rapid urbanization, large population demands, increased consumer base, and increased awareness about biodegradable products and sustainability, governmental initiatives to consume PBAT products.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1,430.2 million |
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Market CAGR |
13.50% |
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By Application |
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By Grade |
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By End User |
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By Region |
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The global polybutylene adipate terephthalate market size was valued at US$ 1,430.2 million in 2023 and is projected to grow at a CAGR of 13.50% from 2024 to 2030.
The key segments covered in the polybutylene adipate terephthalate (PBAT) market are technology, components, application, and end-users.
The Polybutylene adipate terephthalate (PBAT) market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The Polybutylene adipate terephthalate (PBAT) market key players are BASF SE, SK Chemicals, DuPont de Nemours, Inc., LyondellBasell Industries N.V., SABIC, Covestro AG, Mitsubishi Chemical Holdings Corporation, LG Chem Ltd., Feddersen Group, Novamont S.p.A., JinHui ZhaoLong High Technology Co., Ltd., Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Jiangsu Sanfangxiang Group Co., Ltd., Far Eastern New Century Corporation, DAK Americas, Mitsui Chemicals, Inc., Reliance Industries Limited
| 1. Executive Summary |
| 2. Global Polybutylene Adipate Terephthalate (PBAT) Market Introduction |
| 2.1.Global Polybutylene Adipate Terephthalate (PBAT) Market - Taxonomy |
| 2.2.Global Polybutylene Adipate Terephthalate (PBAT) Market - Definitions |
| 2.2.1.Application |
| 2.2.2.Grade |
| 2.2.3.End User |
| 2.2.4.Region |
| 3. Global Polybutylene Adipate Terephthalate (PBAT) Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Polybutylene Adipate Terephthalate (PBAT) Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Polybutylene Adipate Terephthalate (PBAT) Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Composite Bags |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Coatings and Adhesive |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Molded Products |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Fibers |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Bin Bags |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Mulch Films |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Cling Films |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 5.8. Stabilizers |
| 5.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.8.3. Market Opportunity Analysis |
| 5.9. Others |
| 5.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.9.3. Market Opportunity Analysis |
| 6.Global Polybutylene Adipate Terephthalate (PBAT) Market By Grade, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Thermoforming grade |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Extrusion Grade |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Others |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Polybutylene Adipate Terephthalate (PBAT) Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Packaging |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Agriculture & Fishery |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Consumer Goods and Homecare |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Biomedical |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Others |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.Global Polybutylene Adipate Terephthalate (PBAT) Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Polybutylene Adipate Terephthalate (PBAT) Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Composite Bags |
| 9.1.2.Coatings and Adhesive |
| 9.1.3.Molded Products |
| 9.1.4.Fibers |
| 9.1.5.Bin Bags |
| 9.1.6.Mulch Films |
| 9.1.7.Cling Films |
| 9.1.8.Stabilizers |
| 9.1.9.Others |
| 9.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Thermoforming grade |
| 9.2.2.Extrusion Grade |
| 9.2.3.Others |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Packaging |
| 9.3.2.Agriculture & Fishery |
| 9.3.3.Consumer Goods and Homecare |
| 9.3.4.Biomedical |
| 9.3.5.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Polybutylene Adipate Terephthalate (PBAT) Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Composite Bags |
| 10.1.2.Coatings and Adhesive |
| 10.1.3.Molded Products |
| 10.1.4.Fibers |
| 10.1.5.Bin Bags |
| 10.1.6.Mulch Films |
| 10.1.7.Cling Films |
| 10.1.8.Stabilizers |
| 10.1.9.Others |
| 10.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Thermoforming grade |
| 10.2.2.Extrusion Grade |
| 10.2.3.Others |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Packaging |
| 10.3.2.Agriculture & Fishery |
| 10.3.3.Consumer Goods and Homecare |
| 10.3.4.Biomedical |
| 10.3.5.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 10.4.7. |
| 11.Asia Pacific (APAC) Polybutylene Adipate Terephthalate (PBAT) Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Composite Bags |
| 11.1.2.Coatings and Adhesive |
| 11.1.3.Molded Products |
| 11.1.4.Fibers |
| 11.1.5.Bin Bags |
| 11.1.6.Mulch Films |
| 11.1.7.Cling Films |
| 11.1.8.Stabilizers |
| 11.1.9.Others |
| 11.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Thermoforming grade |
| 11.2.2.Extrusion Grade |
| 11.2.3.Others |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Packaging |
| 11.3.2.Agriculture & Fishery |
| 11.3.3.Consumer Goods and Homecare |
| 11.3.4.Biomedical |
| 11.3.5.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Polybutylene Adipate Terephthalate (PBAT) Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Composite Bags |
| 12.1.2.Coatings and Adhesive |
| 12.1.3.Molded Products |
| 12.1.4.Fibers |
| 12.1.5.Bin Bags |
| 12.1.6.Mulch Films |
| 12.1.7.Cling Films |
| 12.1.8.Stabilizers |
| 12.1.9.Others |
| 12.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Thermoforming grade |
| 12.2.2.Extrusion Grade |
| 12.2.3.Others |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Packaging |
| 12.3.2.Agriculture & Fishery |
| 12.3.3.Consumer Goods and Homecare |
| 12.3.4.Biomedical |
| 12.3.5.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Polybutylene Adipate Terephthalate (PBAT) Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Composite Bags |
| 13.1.2.Coatings and Adhesive |
| 13.1.3.Molded Products |
| 13.1.4.Fibers |
| 13.1.5.Bin Bags |
| 13.1.6.Mulch Films |
| 13.1.7.Cling Films |
| 13.1.8.Stabilizers |
| 13.1.9.Others |
| 13.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Thermoforming grade |
| 13.2.2.Extrusion Grade |
| 13.2.3.Others |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Packaging |
| 13.3.2.Agriculture & Fishery |
| 13.3.3.Consumer Goods and Homecare |
| 13.3.4.Biomedical |
| 13.3.5.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.BASF SE |
| 14.2.2.SK Chemicals |
| 14.2.3.DuPont de Nemours, Inc. |
| 14.2.4.LyondellBasell Industries N.V. |
| 14.2.5.SABIC |
| 14.2.6.Covestro AG |
| 14.2.7.Mitsubishi Chemical Holdings Corporation |
| 14.2.8.LG Chem Ltd. |
| 14.2.9.Feddersen Group |
| 14.2.10.Novamont S.p.A. |
| 14.2.11.JinHui ZhaoLong High Technology Co., Ltd. |
| 14.2.12.Indorama Ventures Public Company Limited |
| 14.2.13.Alpek S.A.B. de C.V. |
| 14.2.14.Jiangsu Sanfangxiang Group Co., Ltd. |
| 14.2.15.Far Eastern New Century Corporation |
| 14.2.16.DAK Americas |
| 14.2.17.Mitsui Chemicals, Inc. |
| 14.2.18.Reliance Industries Limited |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.