The global polybutylene adipateterephthalate market size was valued at USD 184.0 million in2023. The industry is expected to expand from USD 198.7 million in 2024 to USD
376.5 million by 2032, exhibiting a CAGR of 8.3% over the study period.
Polybutylene adipate terephthalate (PBAT) means a renewable andbiodegradable synthetic polymer made by combining terephthalic acid,
1,4-butanediol, and adipic acid. It possesses superior toughness,
processability, and flexibility, which makes it a popular choice for
applications including agricultural films, packaging, and others. The growing
demand for biodegradable plastics is impelling the market expansion.
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Moreover, the COVID-19 pandemic asserted a mixed impact on themarket. The market witnessed an increase in the demand for a few applications,
such as disposable and packaging products, which can attributed to the high
concerns pertaining to hygiene. On the other hand, the overall market was
challenged by reduced industrial activity coupled with interruptions in supply
chains.
FortuneBusiness Insights™ provides this information in itsresearch report, titled “Polybutylene Adipate TerephthalateMarket, 2024-2032”.
Segmentation:
ExceptionalFlexibility of the Product to Propel the Packaging Segment Growth
In terms of application, the market is segregated into consumergoods, packaging, coatings & adhesives, agriculture & horticulture, and
others. The packaging segment occupied the largest share in the market in 2023.
The product demonstrates superior processability, flexibility, and
biodegradability, which makes it a preferred choice for different packaging
formats such as pouches, bags, rigid containers, and flexible films. This
factor is accelerating the packaging segment expansion.
ReportCoverage
The strategic initiatives undertaken by top companies in thepolybutylene adipate terephthalate market to reinforce their industry position
have been mentioned in the report. Besides this, it provides vital insights
into the latest trends, the COVID-19 pandemic impact, and notable industry
developments. Other aspects of the report include the significant factors
affecting the market growth.
Driversand Restraints:
Product’sExceptional Features to Impel its Uptake in Sustainable Packaging,
Escalating the Market Growth
Due to growing awareness of the environmental influence ofsingle-use plastics among regulators and consumers, there is a rising
requirement for sustainable packaging options. It is an appealing option to
traditional petroleum-based plastic, especially for disposable tableware,
shopping bags, and food packaging, owing to its capacity to degrade under
industrial composting settings.
RegionalInsights:
AsiaPacific Leads Owing to Favorable Government Regulations
The Asia Pacific registers the largest polybutylene adipateterephthalate market share. This can be credited to the strong packaging
industry along with favorable policies and regulations by the government that
encourage biodegradable materials.
