ID: MRFR/CnM/2596-CRR | January, 2018 | Region: Global | 131 pages | Cooked Research Reports
Global Poly (Butylene Adipate-Co-Terephthalate) Market Research Report- application (composite bags, bin bags, mulch films, cling films, stabilizers), end use (packaging, agriculture & fishery, consumer goods, coatings), and region - Forecast till 2023
Synopsis of Poly (Butylene Adipate-Co-Terephthalate)
Poly (Butylene Adipate-Co-Terephthalate) (PBAT) is a class of biodegradable and compostable plastic, derived from adipic acid, dimethyl terephthalate, and 1, 4 butanediol. It is transparent and can be used in standard processes such as extrusion and injection molding. It offers excellent compatibility with polyactide. It is used to manufacture composite bags, bin bags, cling films, stabilizers, mulch films, and others and find a wide application scope in numerous end use industries such as consumer goods, coatings, agriculture & fishery, packaging, and others.
As per MRFR’s analysis, some of the market factors and trends identified in the global PBAT market include continuous growth of consumer goods sector, increasing demand from packaging industry, and government policies toward green procurement. Furthermore, increasing adoption rate of biodegradable plastics among the consumers in packaging along with stringent environmental regulations regarding the use of non-biodegradable plastic is predicted to drive the demand for PBAT over the estimated period. Moreover, increasing per capita disposable income along with rising consumption of packaged food in developed and developing countries has increased the demand for packaging items which in turn is expected to propel the growth of the market over the forecast period. However, the cost of research and development on PBAT is still high as compared to global investment on it which impacts the product and material price due to which it hampers the growth of the market. With the aforementioned reasons market is estimated to reach USD 636.96 million by 2023 with a CAGR of 14.89% over the forecast period.
Global Poly (Butylene Adipate-Co-Terephthalate) (PBAT) Market, By Application, 2016 (%)
Source: MRFR Analysis
Geographically, the Poly (Butylene Adipate-Co-Terephthalate) (PBAT) market is segmented into five regions viz. North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these, Europe emerged as the leading PBAT market in 2016, driven by the growth of numerous industries such as packaging, agriculture & fishery, and consumer goods. Europe region accounted for around 45% of the overall market share (in terms of value) in 2016 and is predicted to grow with the significant CAGR of around 15.01% over the assessment period. In Europe, Germany, Russia, and,
Italy are among the major contributors to the regional market growth and is predicted to continue their dominance during the estimated period on account of wide utilization of PBAT in application such as composite bags, bin bags, and mulch films.
Asia Pacific region is trailed by North America in the overall market share in 2016 and is estimated to witness CAGR of around 14.9% over the forecast period. The demand for PBAT is predicted to surge in various countries of Asia Pacific such as China, India, Japan, and South Korea on account of increasing industrial investments and improved agriculture sector. Additionally, the Middle East & Africa is expected to witness a healthy market growth rate, growing with CAGR of 14.08% over the assessment period. In the Middle East & Africa, Turkey accounted for the largest market share with a value of USD 0.92 million in 2016 and is expected to continue its dominance over the estimated period. The growth is attributed to the rising use in various application such as composite bags, mulch films, and bin bags. In addition, Turkey is followed by Israel on account of numerous growth of end use industries. Furthermore, developed regions such as North America and Europe are expected to witness a significant growth on account of strict regulatory framework coupled with high technology adoption rate.
List of Market Players & Supplier
Novamont S.p.A.,Eastman Chemical Company,Jinhui Zhaolong High Technology,BASF SE,SK chemicals,Far Eastern New Century Corpora,Lotte Fine Chemical Co., Ltd,WILLEAP,Jiangsu Torise Biomaterials Co,Shanghai Huiang Industrial Co., Ltd.,Huaian RuanKe Trade Co., Ltd.,Anhui Jumei Biological Technology Co., Ltd.,Hebei Xiongye Machine Trade Co., Ltd.,Dalian Bona Biological Technology Co., Ltd.,Greenview Materials Inc.,Jiangsu Sunsea International Trade Co., Ltd,Dongguan Min Lee Packaging Materials Co., Ltd.,Silver Dragon Industrial Limited
The PBAT market is fragmented on the basis of application, end use, and region. On the basis of application, the market is categorized into composite bags, bin bags, mulch films, cling films, stabilizers, and others. Among these, composite bags application segment accounted for around 38% market share in 2016. The segment is estimated to retain its dominance in the near future on account of wide utilization in food packaging. On the basis of end use, the market is segmented into packaging, agriculture & fishery, consumer goods, coatings, and others. Packaging accounted for the largest market share among end use due to rising number of working professionals along with increasing consumption of ready to eat packaged food, which has raised the PBAT consumption in packaging sector. On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Some of the key players operating in the global Poly (Butylene Adipate-Co-Terephthalate) (PBAT) market are Novamont S.p.A., Eastman Chemical Company, Jinhui Zhaolong High Technology, BASF SE, SK Chemicals, Far Eastern New Century Corporation, Lotte Fine Chemical Co., Ltd., WILLEAP, and Jiangsu Torise biomaterials co., ltd.
The report covers brief analysis of geographical region such as:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
The Middle East & Africa
Rest of Middle East & Africa
Global Poly (Butylene Adipate-Co-Terephthalate) (PBAT) market is projected to reach USD 636.96 million by 2023, expanding at a CAGR of 14.89% over the forecast period of 2017 to 2023. Europe accounted for the largest share of around 44.5% due to the largest production of PBAT in this region. Moreover, the region is expected to surpass its own numbers of regional shares over the estimated period, on account of the consistently rising production of PBAT in this region. Packaging segment accounted for the largest share in 2016, with a market value of USD 150.43 million and is predicted to grow at the highest CAGR due to the excellent fit of PBAT in the packaging market.
Poly (Butylene Adipate-Co-Terephthalate) (PBAT) manufacturers
Traders and distributors of Poly (Butylene Adipate-Co-Terephthalate) (PBAT)
Production process industries
Raw material suppliers
Poly (Butylene Adipate-Co-Terephthalate)
Biodegradable mulch film
Biodegradable plastic bag
Environment friendly plastics
Low VOC plastics
PBAT mulch film
The report about Global Poly (Butylene Adipate-Co-Terephthalate) (PBAT) by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions