The global polybutylene adipate 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 adipate terephthalate (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.

Source:

https://www.fortunebusinessinsights.com/polybutylene-adipate-terephthalate-market-109772

Moreover, the COVID-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 Adipate Terephthalate Market, 2024-2032”.

Segmentation:

Exceptional Flexibility of the Product to Propel the Packaging Segment Growth

In terms of application, 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 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.

Drivers and Restraints:

Product’s Exceptional Features to Impel its Uptake in Sustainable Packaging, Escalating the Market Growth

Due to growing awareness 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 Favorable Government Regulations

The Asia Pacific registers 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.