The global polybutyleneadipate terephthalate market size was valued at USD 184.0 million in 2023. 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 adipateterephthalate (PBAT) means a renewable and biodegradable 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, theCOVID-19 pandemic asserted a mixed impact on the market. 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.
Fortune Business Insights™ provides this information in its research report,titled “Polybutylene AdipateTerephthalate Market, 2024-2032”.
Segmentation:
Exceptional Flexibility of the Product toPropel the Packaging Segment Growth
In terms ofapplication, the market is segregated into consumer goods, 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.
Report Coverage
The strategic initiatives undertaken by top companies in the polybutylene adipate terephthalate market to reinforce theirindustry 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.
Drivers and Restraints:
Product’s Exceptional Features to Impel its Uptake in SustainablePackaging, Escalating the Market Growth
Due to growingawareness of the environmental influence of single-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.
Regional Insights:
Asia Pacific Leads Owing to FavorableGovernment Regulations
The Asia Pacificregisters the largest polybutylene adipate terephthalate market share. This can
be credited to the strong packaging industry along with favorable policies and
regulations by the government that encourage biodegradable materials.
