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Global Polybutylene Succinate (PBS) Market Research and Forecast, 2022-2028

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  • 115 Pages
  • August 2022
  • Region: Global
  • Orion Market Research Private Limited
  • ID: 4744481

Global Polybutylene Succinate (PBS) Market Size, Share & Trends Analysis Report By Process (Trans-Esterification, Direct Esterification), By Application (Packaging/Disposables, Agriculture, Fibers/Non-Woven, Automotive, Others) Forecast, 2022-2028

The global polybutylene succinate market is growing at a considerable CAGR of 9.3% during the forecast period (2022-2028). PBS is a thermoplastic polymer resin synthesized from poly-condensation of succinic acid and 1-4 butanediol (BDO). The market growth is mainly attributed to the high use of PBS in several industries for several applications across the globe. It is used in producing plastic by using biopolymer compounds and is also used in other degradable products to the various industries such as packaging/disposables, agriculture, fibers/nonwoven, automotive, and others. PBS decomposes into water and carbon dioxide with the microorganism under the soil and has high heard resistance and flexibility as compared to other general biodegradability resin. These are also estimated to be cost-effective polymers and are better alternatives to biopolymers such as PLA, PBAT, and PHB. Due to its oil migration resistance at elevated temperatures and compostability properties, PBS is estimated to be a preferable alternative over other chemicals.

Furthermore, the rising popularity of packaged on-the-go food items has boosted global convenience food consumption. This is projected to considerably raise demand for PBS for use in food packaging, boosting the market growth during the forecast period. However, the adverse effect associated with the production leading to large emission of greenhouse gas, volatile prices and supply of crude oil, and stringent government regulations is some of the constraints that are estimated to challenge the growth of the market in the forecast period. Conversely, high use in the packing industry, growing of automobile industry, usage of PBS composite wire in 3D printing, and continuous R&D in bio-degradable polymers are estimated to create opportunities for the market players.

Impact of COVID-19 on the Global Polybutylene succinate Market

The global polybutylene succinate market is hardly hit by the COVID-19 pandemic since December 2019. The outbreak of COVID-19 in the major economies has disrupted the manufacturing and supply of polybutylene succinate across the globe which resulted in a decrease in market share. Due to the enforced lockdown imposed by the coronavirus (COVID-19) pandemic, several packaging facilities, as well as food and pharmaceutical companies, were forced to close across the globe. The fall in shipment exports and slow domestic demand in the field of agriculture, packaging, and automotive industries also negatively affected the market growth. Due to the polybutylene succinate is primarily used in the packaging, pharmaceutical, and food & beverage industries, the COVID-19 pandemic is limiting the growth of the polybutylene succinate market. In addition to this, lack of workforce availability, logistics also hindered the growth of the market.

Segmental Outlook

The global polybutylene succinate market is bifurcated based on process and application. Based on the process segment, the market is segmented into transesterification and direct esterification. Further based on the application segment, the market is bifurcated into packaging/disposables, agriculture, fibers/non-woven, automotive, and others. Among these, the packaging/disposables segment holds the largest share in 2020 and is expected to grow during the forecast period.

Global Polybutylene Succinate Market Share by Application Type, 2020 (%)

Global Polybutylene Succinate Market Share by Application

Packaging/Disposables Segment to Hold a Lucrative Share in the Global Polybutylene Succinate Market

Amongst the application type segment of the global polybutylene succinate market, the packaging/Disposables segment held one of the largest shares in the polybutylene succinate market in 2020. These are widely used in the packaging of food and pharmaceutical plants across the globe. As PBS has high heat resistance, compatibility with fiber, and flexibility, it has several other properties including biodegradability, melt processability, as well as thermal and chemical resistance. It is used for direct-melt coating on recycled paperboard for grease resistance in the microwave to hold convenience food packaging applications.

Regional Outlooks

The global polybutylene succinate market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America (the US and Canada), Europe (Germany, Spain, Italy, France, the UK, and the Rest of Europe), Asia-Pacific (India, China, Japan South Korea, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to have a significant share in the market. Increasing demand for bio-based materials for application in the automotive sector, stringent government regulations use of bio-based plastics in the countries like the US, and use of PBS in wide applications are some of the factors that fuel the growth of the polybutylene succinate market in North America region.

Global Polybutylene succinate Market, by Region 2022-2028

Global Polybutylene Succinate Market Share by region

Asia-Pacific is projected to highest Contributor to the growth of the Global 5G IoT market

Asia-Pacific is anticipated to be the fastest-growing region in the global 5G IoT market. In the region, China, South Korea, Japan, Singapore, and India are showing rapid progress. This is due to the high use of PBS in agriculture industries and new plants being set up due to industrialization in emerging economies like India and China. According to the China Petroleum and Chemical Industry Federation (CPCIF), China's petroleum and chemical sector earned $2 trillion in sales in 2017. The Chinese chemical industry's rapid expansion is essential to the Chinese economy's long-term stability. Furthermore, China is rapidly developing its chemical parks, which will considerably raise investment in the chemical sector that will be resulting in future market growth opportunities.

Market Player Outlook

Key players of the global polybutylene succinate market are BASF SE, Eastman Chemical Co., The Dow Chemical Co., Koninklijke DSM N.V., Mitsubishi Chemical Corp., Showa Denko K.K., and Genomatica, Inc., among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others to thrive in a competitive environment. For instance, in April 2019, Eastman Chemical Co. announced the acquisition of Marlotherm from Sasol to expand its heat transfer fluids product offerings to customers around the globe.

The Report Covers

  • Market value data analysis of 2020 and forecast to 2027.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global polybutylene succinate (PBS) market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where in the market.

Table of Contents

1. Report Summary
  • Current Industry Analysis and Growth Potential Outlook
  • Impact of COVID-19 on the Global PBS Market Industry
  • Recovery Scenario of Global PBS Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global PBS Market by Process
5.1.1. Trans-Esterification
5.1.2. Direct Esterification
5.2. Global PBS Market by Application
5.2.1. Packaging/Disposables
5.2.2. Agriculture
5.2.3. Fibers/Non-Woven
5.2.4. Automotive
5.2.5. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Anqing He Xing Chemical Co., Ltd.
7.2. BASF SE
7.3. BioAmber Inc
7.4. BioAmber Inc.
7.5. Eastman Chemical Co.
7.6. Genomatica, Inc
7.7. Kingfa Science & Technology Co.
7.8. Koninklijke DSM N.V.
7.9. Mitsubishi Chemical Corp.
7.10. NaturePlast
7.11. PTT MCC Biochem Co., Ltd.
7.12. Reverdia VOF
7.13. Showa Denko K.K.
7.14. Succinity GmbH
7.15. The Dow Chemical Co.
7.16. Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Anqing He Xing Chemical Co., Ltd.
  • BioAmber Inc
  • BioAmber Inc.
  • Eastman Chemical Co.
  • Genomatica, Inc
  • Kingfa Science & Technology Co.
  • Koninklijke DSM N.V.
  • Mitsubishi Chemical Corp.
  • NaturePlast
  • PTT MCC Biochem Co., Ltd.
  • Reverdia VOF
  • Showa Denko K.K.
  • Succinity GmbH
  • The Dow Chemical Co.
  • Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd.