H1 2023: In H1 2023, the Asia Pacific region emerged as the largest consumer of Polybutylene Adipate Terephthalate (PBAT). However, in the first three months of 2023, PBAT market prices in the Asia-Pacific region mirrored a descending trajectory. Production slowdown during the Lunar holiday and supply disruptions in China had a substantial impact. Despite the resumption of production in China mid-February, persistent disruptions in the supply chain ensued due to a shortage in the workforce. The decline in prices for the feedstock, adipic acid, and butanediol in March 2023 significantly affected PBAT prices, aligning with the reduced production costs. The market dynamics were predominantly shaped by the diminishing trend of the critical feedstocks and a concurrent decrease in product demand. During Q2 2023, the PBAT market in the Asia-Pacific region exhibited a blend of market dynamics, influenced by fluctuating demand patterns. Key factors impacting PBAT price dynamics included the decline in the crucial feedstock, adipic acid, coupled with a notable reduction in energy prices, significantly affecting overall production costs in Asia. China's economy boomed and the Chinese government prioritized the production and adoption of biodegradable packaging materials, particularly in online food services The product witnessed increased demand from pharmaceutical production units and higher consumption of PBAT in the agricultural sector.
The global Polybutylene Adipate Terephthalate (PBAT) market stood at approximately 440 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 6.2% during the forecast period until 2032. Polybutylene adipate terephthalate (PBAT) is a biodegradable thermoplastic polyester with a versatile set of properties suitable for various applications. This copolymer results from the polymerization of four monomers: 1,4-butanediol (BD), adipic acid (AA), terephthalic acid (TA), and dimethyl terephthalate (DMT). The structure of PBAT comprises repeating units derived from these monomers, with the polymer chain featuring segments of butylene glycol (BG), adipic acid, and terephthalic acid or dimethyl terephthalate.
Polybutylene adipate terephthalate (PBAT), a biodegradable thermoplastic polyester, finds diverse applications across industries. PBAT exhibits a unique structure with repeating units derived from these constituents. This biodegradable material addresses environmental concerns and is commonly employed in the production of eco-friendly packaging materials, such as films, bags, and containers. Its application extends to the agricultural sector, where it serves as a biodegradable option for mulches and covers. PBAT is also used in the manufacturing of disposable items like cutlery and plates, contributing to the reduction of single-use plastic waste. In hygiene products, including diapers and sanitary items, PBAT provides a biodegradable alternative. Its compatibility with injection moulding processes allows for the creation of various moulded items with desirable biodegradable properties. Blown film extrusion utilizes PBAT for the production of biodegradable films applicable in packaging and agriculture. Additionally, PBAT contributes to the creation of compostable bags, offering an environmentally conscious substitute for traditional plastic bags. The material's versatility and biodegradability position it as a key player in sustainable solutions across a spectrum of industries, aligning with the growing demand for eco-friendly alternatives.
The Polybutylene Adipate Terephthalate (PBAT) market is intricately influenced by factors fueling its growth. The increasing demand for sustainable packaging materials, driven by heightened environmental awareness and regulatory emphasis on eco-friendly solutions, propels the use of PBAT in biodegradable thermoplastic polyester for packaging. As part of the broader bioplastics sector, PBAT benefits from the growing shift to sustainable and renewable materials, leveraging its versatility and biodegradability across various industries. Stringent government regulations to curb plastic pollution, coupled with initiatives endorsing biodegradable materials, significantly contribute to market expansion. Rising consumer awareness about the environmental impact of traditional plastics acts as a catalyst for PBAT demand, positioning it favorably. Its diverse applications in packaging, agriculture, and disposable products enhance market dynamics, with its compatibility in various manufacturing processes underscoring its versatility. Ongoing technological advancements in biodegradable materials contribute to PBAT's evolution, impacting cost-effectiveness and performance. The market is further shaped by intense competition among PBAT manufacturers, influencing pricing dynamics and prompting strategic moves like capacity expansions and technological innovations. Due to these reasons, the global PBAT market size anticipated to reach nearly 800 thousand tonnes by 2032.
Based on region, Asia Pacific region is the largest consumer of Polybutylene Adipate Terephthalate (PBAT). The Asia-Pacific region is poised to dominate the Polybutylene Adipate Terephthalate (PBAT) market due to its status as a global manufacturing hub, fueled by robust industrialization and economic growth. The region's increasing environmental consciousness, driven by stringent regulations and heightened consumer awareness, aligns with the demand for eco-friendly materials like PBAT. The market is expected to experience growth in the coming years due to the swift urbanization and increased consumer expenditure on online shopping, as well as food and beverages which will require PBAT as packaging material in nations like India, South Korea, and China. As governments in Asia-Pacific region aim for sustainability, initiatives and policies supporting biodegradable materials further contribute to the market's expansion. The growth of end-use industries, such as packaging and textiles, coupled with ongoing investments in research and development, positions the region at the forefront of PBAT adoption. The multifaceted dynamics of industrialization, consumer preferences, and regulatory frameworks collectively make the Asia-Pacific region a key player in shaping the trajectory of the PBAT market.
Based on the end-user industry, the global Polybutylene Adipate Terephthalate (PBAT) market is divided into Packaging, Agriculture & Fishery, Consumer Goods, and Others. Among these, Packaging industry is the major segment and held approximately 35% of the global Polybutylene Adipate Terephthalate (PBAT) market in 2022.
Major players in the Global Polybutylene Adipate Terephthalate (PBAT) market are BASF SE, Zhejiang Biodegradable Advanced Material Co. Ltd, Lubrilog, Far Eastern New Century Corporation, DAK Americas, ECCO Gleittechnik GmbH, HUSK-ITT Corporation, Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Jiangsu Sanfangxiang Group Co., Ltd., Setral Chemie GmbH, IKV Tribology Ltd, Xinhaibio, Hangzhou Ruijiang Chemical Co.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polybutylene Adipate Terephthalate (PBAT) which covers production, demand and supply of Polybutylene Adipate Terephthalate (PBAT) market in the globe.
• To analyse and forecast the market size of Polybutylene Adipate Terephthalate (PBAT)
• To classify and forecast Global Polybutylene Adipate Terephthalate (PBAT) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polybutylene Adipate Terephthalate (PBAT) market in the globe.
To extract data for Global Polybutylene Adipate Terephthalate (PBAT) market, primary research surveys were conducted with Polybutylene Adipate Terephthalate (PBAT) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polybutylene Adipate Terephthalate (PBAT) market over the coming years.
ChemAnalyst calculated Polybutylene Adipate Terephthalate (PBAT) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polybutylene Adipate Terephthalate (PBAT). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polybutylene Adipate Terephthalate (PBAT) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polybutylene Adipate Terephthalate (PBAT) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polybutylene Adipate Terephthalate (PBAT) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polybutylene Adipate Terephthalate (PBAT) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
440 thousand tonnes
Market size Volume in 2032
800 thousand tonnes
Growth Rate
CAGR of 6.2% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Packaging, Agriculture & Fishery, Consumer Goods, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Polybutylene Adipate Terephthalate (PBAT) in terms of volume in 2022?
Ans:
The global market size of Polybutylene Adipate Terephthalate (PBAT) had reached approximately 440 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polybutylene Adipate Terephthalate (PBAT)?
Ans:
Asia Pacific region is the leading consumer of Polybutylene Adipate Terephthalate (PBAT) globally.
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