The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of PBAT. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of PBAT Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of PBAT market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of PBAT
This newly published and insightful report sheds light on Market Insights of PBAT, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of PBAT Market. The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the market across the globe.
A comprehensive estimate has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of PBAT during the forecast period. Price point comparison by region with global average price is also considered in the study.
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Key Market Segments Covered in Report
- By Application
- 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
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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.
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.
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.
“Integration of nanocomposites with improved mechanical properties and best standards will provide an opportunity for PBAT manufacturers over the coming years,”
says a Fact.MR analyst.
Globally established PBAT players are BASF SE, Novamont S.p.A., and JinHui ZhaoLong High Technology Co., Ltd. Key players are continuously focusing on capacity expansion in order to meet increasing demand. Strict regulations and ban on single-use plastics by various governments all across the globe have resulted in global players collaborating with other companies to penetrate into untapped markets and provide reliable solutions to their clients.
For instance, in May 2020, BASF SE and Red Avenue New Materials Group signed a joint agreement that grants the latter the license to manufacture and sell certified PBAT using BASF`s process technology. For that purpose, Red Avenue New Material Group has agreed to build a 60,000 ton PBAT plant in Shanghai in exchange for the access to raw material from BASF. Production from the new plant is expected to start in 2022.
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Key Question answered in the survey of PBAT market report:
- Sales and Demand of PBAT
- Growth of PBAT Market
- Market Analysis of PBAT
- Market Insights of PBAT
- Key Drivers Impacting the PBAT market
- Which are the Key drivers impacted by PBAT market
- Restraints Shaping Market Growth
- Market Survey of PBAT
More Valuable Insights on PBAT Market
Fact.MR, in its new report, offers an unbiased Market Analysis of PBAT, Sales and Demand of PBAT, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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