Polybutylene Succinate Market

Polybutylene Succinate Market Size (2023-2028):

polybutylene succinate market will reach an estimated volume of 301.2 thousand by 2028, while it will register this growth at a CAGR of 8.01% for the forecast period 2023-2028

Polybutylene succinate (PBS) is a biodegradable thermoplastic polymer resin that belongs to the polyester family. Polybutylene succinate is produced by the polycondensation of succinic acid with 1,4 butanediol monomers. PBS has properties similar to propylene. Polybutylene succinate remains stable even at high temperatures where it has various applications in various segments such as electrical and electronic, automotive, fiber, textile, packaging, nonwoven manufacturing, and others. The global polybutylene succinate market is expected to grow to the maximum CAGR in the next few years. The growing demand for innovative packaging specially designed to attract large numbers of consumers is supposed to be a dynamic factor in the rapid growth of the polybutylene succinate market during the outlook period. The increasing demand for lightweight automotive components is also expected to have a positive impact on the growth of the polybutylene succinate market. The burgeoning plastics industry is estimated to drive overall demand for polybutylene succinate during the projection period.

Polybutylene SuccinateMarket Trends:

A new initiative of the World Economic Forum, called New Plastic Economy, promotes the use of biopolymers like PBS. So many chemical manufacturing firms are switching their production to biobased PBS from petrochemical-based products. PBS is currently used in a wide range of industries including packaging, agriculture, pharmaceuticals, consumer goods, electronics, and electrical, textiles, automotive, and interiors. It is also used to produce plastic bowls, plates, utensils, and diapers, which is believed to increase the business potential for the polybutylene succinate market in the coming years.

Recent Developments in the Polybutylene Succinate Market:

Wageningen UR launches the development of sustainable bio-PBS compounds. Wageningen UR Food & Biobased Research has launched a joint development program of PBS (polybutylene succinate) biobased compounds for injection molding in cooperation with Reverdia, Template, and RPC Promens.

Polybutylene Succinate Market Drivers:

Polybutylene succinate is mainly used for the packaging of food and pharmaceutical products. One of the main factors driving the demand for polybutylene succinate around the world is the increasing need for smart packaging among customers. Advancement and research activities in packaging are expected to intensify the growth of the polybutylene succinate market worldwide. Increasing demand for the lightweight automotive component is expected to drive growth in the polybutylene succinate market. PBS is also used in agriculture in the form of many films and is expected to spark the growth of the global polybutylene succinate market. The growing demand from the packaging industry, the growing popularity of bio-based polybutylene succinate from butanediol, biological acid, and succinic acid, the growing demand for smart packaging around the world, the rise of the consumer goods industry in developing countries are some of the factors that are expected to drive the growth of the polybutylene succinate industry in the outlook period 2022 - 2027.

Polybutylene SuccinateMarket Restraints:

However, succinic acid and 1,4-butanediol are polybutylene succinate monomers that are produced by feeding oil. The changing price of monomers is estimated to constrain the advancement of the worldwide Polybutylene Succinate market throughout the foreseen period.

Opportunities in the Polybutylene Succinate Market:

Government initiatives and general policies regarding the Polybutylene Succinate product are expected to have a positive impact on the growth of the Conductive Polymer Coatings market during the forecast period. The increasing acceptance of polybutylene succinate for applications in the newer industrial sector will also create several opportunities that will lead to the growth of the polybutylene succinate market during the envisioned period.

Challenges in the Polybutylene Succinate Market:

The high price of research and development, and unpredictable raw material costs related to stringent environmental rules may hamper the expansion of the global polybutylene succinate market throughout the forecast period.

POLYBUTYLENE SUCCINATE MARKET REPORT COVERAGE:

Polybutylene Succinate Market Segmentation:

By Type:

• Conventional
• Bio-Based

By Process:

• Trans-Esterification
• Direct Esterification

By End User:

• Packaging
• Agriculture
• Textile
• Consumer Goods
• Electronics and Electrical
• Automotive
• Others

Packaging and agriculture are the main application segments of the PBS market. The packaging segment is expected to have a significant market share during the calculated period. Agriculture is estimated to follow the packaging segment, in terms of revenue, at the end of the same period.

By End User Products:

• Mulch Film
• Packaging Film
• Bags
• Flushable Hygiene Products
• Fishing Nets
• Coffee Capsules
• Wood Plastic Composites

By Manufacturing Process:

• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
• Film Blowing
• Fiber Spinning

Blow molding is used for the production of shampoo bottles, medicine bottles, cosmetic bottles, and beverage bottles. Fiber spinning is used for the production of garments, nets, and planting bands. Thermoforming is used for the production of packages with less complicated characteristics. The injection molding process is used for the production of cutlery, brushes, and containers.

Polybutylene Succinate Market Regional Analysis:

The Polybutylene Succinate Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

In the regional market, Europe is the leading manufacturer of PBS and is expected to dominate the overall market during the forecast period. Polybutylene succinate is used to make the interior of the North America is also estimated to contribute significantly to the growth of the polybutylene succinate market. The market is developing mainly through the growth and expansion of the packaging industry and plastics industries in this region. Asia-Pacific is also foreseen to see significant growth in the next period. The North American market is growing rapidly due to the wide range of PBS applications. The Asia-Pacific market will dominate the PBS market in the coming years due to strong economic growth in the area. New high-capacity manufacturing plants are being established in the region. Latin America is expected to follow Asia-Pacific in terms of growth rate during the forecast period due to new manufacturing facilities and favorable government regulations in the locale.

Impact of COVID-19 on the Polybutylene Succinate Market:

The coronavirus pandemic coincided with an industry that was already entering a recession cycle. Adapting to the next normal requires management programs that reflect the lessons learned from the first half of 2020. COVID-19 urges petrochemical executives to rethink the future of the business. The slowdown in the expansion of calls, the increase in surpluses and the decrease in the store of value were already present before the pandemic and are only more pronounced. In addition, the industry faces structural disruptions related to the transition to renewable energy resources and a regenerative or circular economy. Chemical industry executives and financial investors will need to update their management perspectives and agendas to focus on recovery scenarios, regionalized supply chains, and capital productivity. High utilization levels and favorable raw material dynamics eventually led to a so-called supercycle (a period in which petrochemical margins are higher than usual). In 2019, significant capacity additions and a slower expansion of calls resulted in a decline in the value of the pool industry.

Polybutylene Succinate Market Key Players:

The major players covered in the global polybutylene succinate market report are

• DuPont
• BASF SE
• PTT MCC Biochem Co., Ltd.
• SK Chemicals
• Teijin Limited
• Eastman Chemical Company
• Anqing Hexing Chemical Co., Ltd.
• Showa Denko
• Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd.
• SuccinityGmbh
• Reverdia
• Kingfa