The global poly (butylene adipate-co-terephthalate) (PBAT) market is expected to exhibit a solid 14.89% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The global poly (butylene adipate-co-terephthalate) market is expected to reach USD 636.96 million by 2030.
Poly (butylene adipate-co-terephthalate) market is widely used to produce composite bags, bin bags, cling films, and other films. It is a biodegradable plastic derived from adipic acid, dimethyl terephthalate, and 1,4 butanediol. The growing awareness regarding the problems of plastic waste has led to a growing demand for biodegradable plastics. This is likely to be a major driver for the global poly (butylene adipate-co-terephthalate) market over the forecast period. Biodegradable plastics degrade into constituent components over time, rather than remaining in the environment like other, nonbiodegradable plastics. This has driven the demand for poly (butylene adipate-co-terephthalate) over recent years. Growing government support for the use of biodegradable plastics across the world, especially in developed countries, is likely to remain a major driver for the global poly (butylene adipate-co-terephthalate) market over the forecast period. The increasingly supportive government policies towards biodegradable plastics have led to widespread growth in the demand for poly (butylene adipate-co-terephthalate) from the packaging industry. Growing consumer support for biodegradable plastics is also likely to be a major driver for the global poly (butylene adipate-co-terephthalate) market over the forecast period.
Competitive Leader Board:
Leading players in the global poly (butylene adipate-co-terephthalate) market include Jiangsu Torise Biomaterials Co. Ltd., WILLEAP, Lotte Fine Chemical Co. Ltd., Far Eastern New Century Corporation, SK Chemicals, BASF SE, Jinhui Zhaolong High Technology , Eastman Chemical Company, and Novamont SpA. Major players in the global poly (butylene adipate-co-terephthalate) market are likely to focus on product innovations that help reduce the costs of poly (butylene adipate-co-terephthalate), making it more accessible to consumers.
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Market Segmentation:
The global adhesives and sealants market is segmented on the basis of technology, product type, application, and region.
By technology, the global adhesives and sealants market is segmented into water-based, solvent-based, hot melt, and reactively based.
By product type, the global adhesives and sealants market is segmented into acrylic, polyurethane, polyvinyl acetate, epoxy, and others.
By application, the global adhesives and sealants market is segmented into pressure sensitive, construction, automotive, packaging, furniture, and others. The pressure sensitive segment holds a dominant 25% share in the global adhesives and sealants market and is likely to be a major consumer of adhesives and sealants over the forecast period, closely followed by the construction industry.
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Regional Analysis:
Europe is the leading regional market for poly (butylene adipate-co-terephthalate), due to the strong support shown by governments for the use of biodegradable plastics in the region. The growing demand for biodegradable plastic films from the packaging, agriculture and fishery, and consumer goods industries is likely to be a major driver for the poly (butylene adipate-co-terephthalate) market in Europe.
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