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The global polybutylene adipate terephthalate (PBAT) market size attained a value of 407.22 KMT in 2023. The market is expected to grow at a CAGR of 13.7% between 2024 and 2032, reaching almost 1,293.23 KMT by 2032.
Polybutylene adipate terephthalate (PBAT) is a notable biodegradable and compostable polymer, garnering attention for its eco-friendly characteristics and wide-ranging applications. Derived from butylene glycol, adipic acid, and terephthalic acid, PBAT offers exceptional biodegradability and mechanical strength, making it a viable substitute for traditional plastics. Its compostable properties enable decomposition into natural elements, diminishing environmental harm.
As per the global polybutylene adipate terephthalate (PBAT) market, it serves various sectors, including packaging, agriculture, and disposables, aligning with global sustainability. Its versatility, eco-friendliness, and functional properties position PBAT as a promising contender in the pursuit of greener materials.
Global plastic trade involves various plastic products, from toys to electronics, and raw materials like fossil fuels, including waste shipment. UN states that 75% of plastic produced since 1950 becomes waste. This boosts the demand for PBAT for its eco-friendly features.
GLOBAL EXPORTS OF PLASTICS OR GOODS MADE FROM PLASTIC FROM 2005 TO 2021, IN MILLION METRIC TONS
The global polybutylene adipate terephthalate (PBAT) market growth is driven by end-user demand, diverse positive attributes, cost-effectiveness, and government initiatives.
October 2023
The pioneering ecoflex polybutylene adipate terephthalate (PBAT) by BASF celebrated its 25th anniversary, having been launched to the market in 1998 as the world's initial biodegradable, compostable polymer.
September 2023
SKC intended to establish the world's largest biodegradable plant in Vietnam, having secured an investment certificate, with an annual target of 70,000 tons of PBAT production.
July 2023
Fujian Zhongjing Petrochemical Group is building a plant capable of producing 600,000 tons annually of biodegradable PBAT for compostable packaging.
June 2023
Wanhua Chemical is advancing a green industrial chain, introduced Waneco® PBAT/PLA degradable solution, broadening its applications in various sectors to reduce carbon footprint.
End User Demand
The rising acceptance of polybutylene adipate terephthalate (PBAT) in various industries such as packaging, agriculture, medical research, and consumer goods is projected to fuel polybutylene adipate terephthalate (PBAT) market development. PBAT's adaptability extends to consumer goods, athletic equipment, coatings, electronics, and beyond.
Diverse Positive Attributes
PBAT boasts various benefits such as high melting points, flexibility, and adaptability for blending with other biodegradable polymers. Rising awareness of waste disposal and the increasing adoption of biodegradable products are fuelling the growth of the PBAT market.
Cost-Effectiveness
Recent technological advancements have enhanced both the properties and cost-effectiveness of PBAT through ongoing research and development efforts. Improved polymer blending and compounding techniques have led to enhanced performance and processability, expanding PBAT's application potential and market acceptance.
Government Initiatives
Governments worldwide are implementing stringent regulations to reduce plastic waste and promote biodegradable materials, thereby impacting the polybutylene adipate terephthalate (PBAT) market outlook. Measures such as banning single-use plastics and promoting compostable packaging create a favourable market environment for PBAT and other biodegradable polymers, aligning with efforts to enhance sustainability in various industries.
The global rise of the circular economy aims to reduce waste by encouraging material reuse and recycling. PBAT, compostable and recyclable, aligns with this approach, reducing reliance on fossil fuel-derived plastics for a more sustainable resource economy.
The packaging sector is a major user of PBAT, driven by the rising demand for eco-friendly packaging solutions. PBAT's biodegradability and composability meet this demand, making it ideal for various packaging needs, including food, disposable bags, and films.
Global Polybutylene Adipate Terephthalate (PBAT) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Market Breakup by Application
Market Breakup by Distribution Channels
Market Breakup by Region
The extrusion technology is propelling the polybutylene adipate terephthalate (PBAT) market growth
PBAT's transparent and biodegradable properties make it suitable for injection and extrusion processes. Injection moulding compresses polymer granules under high pressure and heat to create the desired shape. Extrusion moulding deforms material under pressure and passes it through a die to shape it.
Based on application, the global polybutylene adipate terephthalate (PBAT) market share is led by flexible packaging
The flexible packaging sector is experiencing notable growth because PBAT offers a lower carbon footprint compared to petroleum-based alternatives. Furthermore, the expanding fast-food industry is driving demand for biodegradable plastic bags.
Similarly, the film sector is growing steadily, spurred by environmental concerns and government efforts to reduce soil pollutants. PBAT coatings are employed to waterproof object surfaces.
Asia Pacific, particularly China and India, represents the largest and fastest-growing economies within polybutylene adipate terephthalate (PBAT) market. Factors such as industrialisation, urbanisation, and environmental awareness drive the adoption of eco-friendly materials like PBAT.
According to the Packaging Industry Association of India (PIAI), the packaging sector is experiencing rapid growth in India, expanding at a rate of 22-25% annually, making the country an increasingly favoured destination for the packaging industry and driving the growth of the PBAT market.
INDIA PACKAGING MARKET GROWTH, 2023, IN MILLION TONS
Moreover, industry expansion is observed in regions like North America and Europe due to heightened awareness of plastic pollution and the availability of sustainable alternatives.
The companies are building several plants to produce huge amounts of PBAT to stay ahead in the market.
BASF SE was established in 1865 and based in Germany, is a leading European multinational corporation and the world's foremost chemical manufacturer. Its operations span six segments, including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions, with a primary emphasis on sustainability, innovation, and digitization.
Reliance Industries Ltd was founded in 1957 and is based in India. From the exploration and extraction of oil and gas to the production of petroleum derivatives, polyester goods, plastics, chemicals, synthetic textiles, and fabrics.
LG CHEM Ltd, founded in 1947 and headquartered in South Korea, is a key player in the global automotive industry, supplying batteries for electric and hybrid vehicles to numerous automakers across the United States, Europe, and China. Additionally, LG Chem collaborates on battery development initiatives and also specializes in electronic components such as polarizers for liquid crystal display panels.
An Phat Holdings, established in 2002, is a Vietnamese firm specialising in the plastics sector, providing services such as research, manufacturing, and advancement of biodegradable and eco-conscious materials and goods.
Other global polybutylene adipate terephthalate (PBAT) market key players are Xinjiang Blue Ridge Tunhe Sci.&Tech. Co., Ltd, Henan Longdu Torise Biomaterials Co., Ltd, Ningbo Changhong Polymer Scientific and Technical Inc., SKC, and GYC Group, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Application |
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Breakup by Distribution Channels |
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Breakup by Region |
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Market Dynamics |
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Price Analysis |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Polybutylene Adipate Terephthalate (PBAT) Market Analysis
8.1 Key Industry Highlights
8.2 Global Polybutylene Adipate Terephthalate (PBAT) Historical Market (2018-2023)
8.3 Global Polybutylene Adipate Terephthalate (PBAT) Market Forecast (2024-2032)
8.4 Global Polybutylene Adipate Terephthalate (PBAT) Market by Technology
8.4.1 Extrusion
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Injection
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Polybutylene Adipate Terephthalate (PBAT) Market by Application
8.5.1 Flexible Packaging (Plastics Bags)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Films
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Coating
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Polybutylene Adipate Terephthalate (PBAT) Market by Distribution Channels
8.6.1 Direct
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Indirect
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Polybutylene Adipate Terephthalate (PBAT) Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Polybutylene Adipate Terephthalate (PBAT) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Polybutylene Adipate Terephthalate (PBAT) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Spain
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific Polybutylene Adipate Terephthalate (PBAT) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Polybutylene Adipate Terephthalate (PBAT) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Polybutylene Adipate Terephthalate (PBAT) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Egypt
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 BASF SE
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Xinjiang Blue Ridge Tunhe Sci.&Tech. Co., Ltd
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Henan Longdu Torise Biomaterials Co., Ltd
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 LG Chem Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Ningbo Changhong Polymer Scientific and Technical Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 SKC
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 GYC Group
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Reliance Industries Ltd
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 An Phat Holdings
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Polybutylene Adipate Terephthalate (PBAT) Market: Key Industry Highlights, 2018 and 2032
2. Global Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Technology (KMT), 2018-2023
3. Global Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Technology (KMT), 2024-2032
4. Global Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Application (KMT), 2018-2023
5. Global Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Application (KMT), 2024-2032
6. Global Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Distribution Channel (KMT), 2018-2023
7. Global Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Distribution Channel (KMT), 2024-2032
8. Global Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Region (KMT), 2018-2023
9. Global Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Region (KMT), 2024-2032
10. North America Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Country (KMT), 2018-2023
11. North America Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Country (KMT), 2024-2032
12. Europe Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Country (KMT), 2018-2023
13. Europe Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Country (KMT), 2024-2032
14. Asia Pacific Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Country (KMT), 2018-2023
15. Asia Pacific Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Country (KMT), 2024-2032
16. Latin America Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Country (KMT), 2018-2023
17. Latin America Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Country (KMT), 2024-2032
18. Middle East and Africa Polybutylene Adipate Terephthalate (PBAT) Historical Market: Breakup by Country (KMT), 2018-2023
19. Middle East and Africa Polybutylene Adipate Terephthalate (PBAT) Market Forecast: Breakup by Country (KMT), 2024-2032
20. Global Polybutylene Adipate Terephthalate (PBAT) Market Structure
In 2023, the global market for PBAT resin attained a volume of nearly 407.22 KMT.
The market is projected to grow at a CAGR of 13.7% between 2024 and 2032.
The revenue generated from the market is expected to reach 1,293.23 KMT in 2032.
The PBAT market is growing due to its ability to offer cost-effectiveness and rising government initiatives.
Based on technology, the polybutylene adipate terephthalate (PBAT) market is divided into extrusion and injection.
Key players in the industry are BASF SE, Xinjiang Blue Ridge Tunhe Sci.&Tech. Co., Ltd, Henan Longdu Torise Biomaterials Co., Ltd, LG Chem Ltd, Ningbo Changhong Polymer Scientific and Technical Inc., SKC, GYC Group, Reliance Industries Ltd, and An Phat Holdings, among others.
Based on application, the market is divided into flexible packaging (plastic bags), film, coating, and others.
The various types of distribution channels are divided into direct and indirect.
The market is broken down into region North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
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