Poly (Butylene Adipate-Co-Terephthalate) Market Size | Industry Analysis and Dem
Posted by Rishab Gupta on February 19th, 2020
Global Key Players
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. and others.
Poly (Butylene Adipate-Co-Terephthalate) Market Overview
The global Poly (Butylene Adipate-Co-Terephthalate) PBAT Market Size is being driven by factors such as increasing application in packaging industry coupled with rising government policies toward green procurement. Significant increase in plastic packaging production and sales, specifically in emerging economies of Europe, Asia Pacific and Latin America such as France, Germany, U.K, Italy, China, India, Thailand, South Korea, Brazil, Mexico and Argentina is set to propel market growth over the forecast period. Better economic situation and consumer preference toward environment-friendly products have resulted in the increasing demand for PBAT. The major initiatives taken by the government and non-government organizations across the globe towards reducing pollution is set to uplift its demand over the next seven years.
The biodegradable plastics like Poly(lactic acid) (PLA) and Poly(butylene succinate) (PBS) have applications range from packaging, foam materials, apparel, carpets, foam materials, electronics and construction materials all the way through the toys and sports articles. They basically have the same properties as conventional plastics, but offer additional benefits such as greater elasticity and heat resistance and to some extent water vapor permeability. But their ecological benefits will be even more important in the future because of their biologically-degradable or can be recycled for generating thermal energy or for reuse as a material. PBAT is also the part of the biodegradable plastics and the awareness of among consumer for the use of such green plastics in these application segments would offer new opportunities for PBAT market.
Industry/ Innovation/ Related News
October 2016 – Hetron's TPE-E in Europe has done simultaneous agreement for sale of Jiangsu Heshili's PBAT
July 2014 – Meredian Inc., one of the leading producers of biodegradable polymer and DaniMer Scientific merged under a wholly owned subsidiary Meredian Holdings Group Inc. With this merger, company's structure will increase the size and market awareness of the company along with expansion of product portfolio.
August 2015 – MHG, a biotechnology company increased its production capacity with the installation of new fermentation vessel. With this installation of equipment, company's biodegradable polymer can be scaled up for commercialization
November 2014 – Perstorp, a Sweden based specialty chemical company, increased its activities in bioplastic with Capa biodegradable plastic. Biopolymers along with Capa added will improve its mechanical properties and biodegradability. Company's aim is to strengthen its position in biopolymer area across the globe.
March 2017 - PepsiCo, Inc. made an agreement with Danimer Scientific a biotechnology leader to develop Danimer Scientific biodegradable film resin to meet the packaging requirement for PepsiCo's gobal business. With this agreement Danimer Scientific will scale up its biodegradable resin production
September 2017 - Bio-on company starterd construction of a new plant for the production of PHAs biopolymer, which will utilized in cosmetic industry. With this expansion, company strengthen its position among global biodegradable manufacturers
November 2017 - Novamont S.p.A announced that the company will double the production of its Origo-Bi-brand biopolyester by early 2018. With this expansion the company will increase its production capacity for Origo-Bi from 50000 to 100000 tons per year
December 2016 - Evonik Industries expanded its production capacity of biodegradable polymer at its manufacturing facilities in Birmingham (U.K) and Darmstadt (Germany). With this expansion the company will serve the growing demand for biodegradable plastic
In the competitive landscape, the report analyses the degree of competition among the industry players as well as industry growth and market scenario. The global PBAT market is at a growing stage, which represents moderate stats in terms of market value and overall volume. Over the past few years, PBAT market has witnessed healthy demand from industries like packaging, agriculture & fishery, coatings, and others. Nevertheless, the degree of competition among the market players is still less on account of limited market players across the globe. Globally, market for PBAT is fragmented and it is moving towards growth expansion by specifically adopting partnership, expansion, joint-venture strategies, and product launch strategies.
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Market Research Future has segmented the global PBAT market in five different regions namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American market is further divided into the US and Canada while the European market is segmented into Germany, Russia, Italy, France, U.K., Rest of Europe. The Asia Pacific market is sub-divided into China, India, Japan, South Korea and Rest of Asia Pacific. The global PBAT market is expected to reach USD 637.0 million by the end of forecasted period i.e. 2023. Europe has accounted for the largest market share followed by North America and Asia Pacific. The Europe region offers huge growth potential for PBAT market and is slated to register the highest CAGR of 15.01% to reach USD 285.4 million by 2023 owing to the growing consumer demand for products with a reduced environmental impact in the region
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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