Increased awareness about environment safety and globally accepted regulations by companies have significantly increased demand for PBAT solutions, especially in the packaging and agriculture sector. Mounting demand for PBAT is due to the fact that it is biodegradable and doesn’t leave any harmful imprint on the environment. According to a study published by ETH Zurich, PBAT undergoes complete biodegradation in the soil over a period of 6 weeks, which makes it an ideal replacement for PE. Increasing research and innovation in nanocomposites are opening up new opportunities for market expansion. PBAT-based nanocomposites are prepared by melt blending PBAT with 5-10 weight % of clay nanoparticles. Preliminary biocompatibility tests indicated that PBAT-based materials with 10% clay content possess good biological safety with almost no cytotoxicity. For this reason, such nanocomposites are being extensively studied for the manufacturing of medical devices and equipment.
As per Fact.MR analysis, the global PBAT market will expand at an impressive CAGR of close to 9% from 2020 to 2030.
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Key Takeaways from Market Study
- The global market is projected to create an absolute $ opportunity of more than US$ 1.6 Bn, and is anticipated to surpass a valuation of US$ 3.2 Bn by the end of forecast period (2020 to 2030).
- By application, cling films are set to hold a share-wide market dominance with over 70% of the total market value by the end of forecast period.
- Packaging industry, as end-use segment, is poised to expand at CAGR of around 9%, gaining 130 BPS over the next ten years.
- The market in Europe is expected to progress at a CAGR of 9.5%, whereas, North America is projected to be valued around 4.0X times of Latin America, and is estimated to account for more than 25% share of the demand pie by the end of the forecast period.
Key Market Segments Covered in Report
- PBAT Compost & Garbage Bags
- PBAT Cling Films
- PBAT Mulch film
- PBAT Medical Accessories
By End Use
- PBAT for Packaging
- PBAT for Agriculture & Horticulture
- PBAT for Consumer & Homecare
- PBAT for Coatings
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Fact.MR has profiled the following prominent PBAT manufacturers in its report:
- 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.