Increasing Push Towards Biodegradable Packaging is Forcing Packaging Companies and Food Manufacturers to Include Biopolymers in their Cling Films. This is Poised to Bolster the Market for PBAT
Rockville, Nov. 10, 2022 (GLOBE NEWSWIRE) — Fact.MR has provided detailed information about the price points of key manufacturers of PBAT positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
According to Fact.MR, a market research and competitive intelligence provider, the global PBAT market is estimated at US$ 1.7 billion in 2022 and is expected to expand at a CAGR of 8.6% during the forecast years of 2022-2032.
In recent years the concept of quality and safety of food from the consumer side has undergone profound evolution. In general, awareness of the risk associated with waste disposal and the importance of biodegradable products has increased.
To solve this problem, OEM and food manufacturers are coming up with biodegradable packaging solutions that cause a little-to-no impact on the environment. PBAT (polybutylene adipate terephthalate) is used extensively during the manufacturing and packaging of such items.
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The most common daily-use products that use PBAT formulations are garbage bags, compost bags, cling films for packaging, and mulch agricultural films. PBAT-based packaging is being increasingly used by consumer product and retail (CPR) organizations.
Key Takeaways from Market Study
- The global PBAT market is estimated to grow at a CAGR of 8.6% in the forecast period 2022-2032
- Cling films to dominate the market and is estimated to showcase high growth opportunities as well
- Europe is expected to be the crown of the market with a 43.0% market share in 2022
- China dominates East Asia’s market and is expected to project high investment opportunities to the market players
- Historical CAGR for the duration of 2017-2021 is 6.4%
Prominent Key Players of PBAT ( Polybutylene Adipate Terephthalate )
- BASF SE
- Novamont S.p.A.
- JinHui ZhaoLong High Technology Co., Ltd.
- Eastman Chemical Company
- SK Chemicals
- Far Eastern New Century Corporation
- Lotte Fine Chemical Co., Ltd.
- Jiangsu Torise biomaterials co., Ltd.
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Market Development Strategies
Goliaths within the PBAT market are maintaining a good balance between organic and inorganic growth strategies. Investment towards production capacity and facility expansions, acquisitions, and collaborations have remained some key strategies by market players in order to strengthen their position and deepen their roots across the globe.
Earlier, manufacturers in the PBAT market were focusing only on attaining a high degradation rate, which limited them to manufacturing films and disposable bags.
Whereas new entrants in the market are shifting their focus towards enhancing the hydrophobicity and thermomechanical properties of PBAT so that it could be used in metal coatings to avoid corrosion. Such factors open new doors for the market to explore and grow.
Segmentation of Polybutylene Adipate Terephthalate Industry Research
- By Application:
- Compost & Garbage Bags
- Cling Films
- Mulch film
- Medical Accessories
- By End-Use:
- Agriculture & Horticulture
- Consumer & Homecare
- By Region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global PBAT market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (compost & garbage bags, cling films, mulch film, medical accessories, and others) and end-use (packaging, agriculture & horticulture, consumer & homecare, coatings, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Table of Content
1. PBAT Market – Executive Summary
2. Market Overview
2.1. Market Definition and Introduction
2.2. Market Taxonomy/ Research Scope
3. Market Background and Foundation Data
3.1. Global Chemical Market Outlook, 2021
3.1.1. By Region
3.1.2. By Countries
3.1.3. Market Trends
3.2. Global PBAT Production Capacity, 2021
3.2.1. By Region
3.2.2. By Countries
3.2.3. By Manufactures
3.3. Global PBAT Regional Trade Analysis, 2021
3.3.1. List of top 10 importing countries and quantity
3.3.2. List of top 10 exporting countries and quantity
3.4. Global Plastic Material Production
3.4.1. By Region
3.5. Global Bio-Plastics Market Outlook
3.5.1. By Key Region
3.5.2. By Polymer type
3.5.3. Key Trends
3.6. Production Process & Technology Used for PBAT Polymer
3.7. Bio-degradation & Sustainability of PBAT Polymer
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