Surging Demand for Bio-Based Plastics Film in Agriculture Accelerates the Growth Rate of Polybutylene Succinate (PBS) Market

In recent years in the packaging industry, there has been increased use of polybutylene succinate (PBS) as it is easily biodegradable and also due to its promising sustainability and biodegradability properties. Nowadays, industries are heading towards a greener way, so most companies prefer polybutylene succinate (PBS) packaging products to pack items. Therefore, the global polybutylene succinate (PBS) market is estimated to show lucrative growth over forecasted timeline.

Data Bridge Market Research analyses that the Polybutylene Succinate (PBS) Market is expected to grow at a CAGR of 7.3% in the forecast period of 2021 to 2028 and is expected to reach USD 242,803.69 million by 2028. In the automotive industry, products like polylactic acid (PLA) and polybutylene succinate (PBS) are the major products to have high regard amongst other polymer products because of their biodegradable nature and without compromising the industry quality standards.

Key Findings of the Study

  • The polybutylene succinate (PBS) market is anticipated to reach a value of USD 242,803.69 million by 2028, with a CAGR of around 7.3% during the forecast period from 2021 to 2028.
  • Asia Pacific dominated the polybutylene succinate (PBS) market in 2021 due to the increasing demand for biodegradable product and high demand for interior automotive products.
  • The conventional polybutylene succinate (PBS) segment is expected to dominate the global polybutylene succinate (PBS) market with a 72.59% market share.
  • The polybutylene succinate (PBS) market was adversely affected by COVID-19 outbreak due to the emergence of various challenges such as supply chain disruption and halt of various operations, which affected the market negatively.
  • North America is expected to register lucrative growth over the forecast period there is strict policies for single use plastic products within the region.

Rising Demand for Bio-Based Plastics Film in Agriculture is expected to bolster the Market's Growth Rate

The bio-based plastics films have been produced to substitute non-biodegradable plastic films that basically aids in resolving the environmental issues. The production of bio-plastic has made a significant contribution to global warming mitigation. Modern bio-based plastics, based on polybutylene succinate (PBS), can completely degrade in compost or soil as it is very difficult to recycle fossil-based PE mulch films due to contamination with soil and agrochemicals. Bio-based mulch films are becoming more popular as films perform just as well as others films perform on agricultural land and they can be plowed into the soil as films break down into water and carbon dioxide. Therefore, high adoption of bio-based plastic films in agriculture applications is expected to boost the growth of the global polybutylene succinate (PBS) market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2021 to 2028

Base Year

2020

Historic Years

2019 (Customizable to 2018 - 2013)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product (Conventional Polybutylene Succinate (PBS) And Bio-Based Polybutylene Succinate(PBS)), Process (Trans-Esterification, Direct Esterification), Application (Bags, Mulch Film, Packaging Film, Flushable Hygiene Products, Fishing Nets, Coffee Capsules, Wood Plastic Composites, Others), Usage (Single-Use And Reusable) , Packaging Layer (Primary Packaging, Secondary Packaging And Tertiary Packaging) , End-Use (Packaging, Agriculture, Textile, Consumer Goods, Electrical And Electronics, Automotive, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

BASF SE (Germany), Huntsman International LLC. (U.S.), Mitsubishi Chemical Company (Japan), DuPont (U.S.), Wacker Chemie AG (Germany), Eastman Chemical Company (U.S.), SHOWA DENKO K.K. Japan), Roquette Frères (France), ARD (Canada)., FILLPLAS (Vietnam), NaturePlast (France), Kingfa Science & Technology (India) Limited (India),

Data Points Covered in Report

The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Segment Analysis:

The polybutylene succinate (PBS) market is segmented on the basis of product, process, application, usage, packaging layer, end-use.

  • Based on product, the polybutylene succinate (PBS) market is segmented into conventional polybutylene succinate (PBS) and bio-based polybutylene succinate (PBS). In 2021, the conventional polybutylene succinate (PBS) segment is expected to dominate the global polybutylene succinate (PBS) market with a 72.59% market share as conventional polybutylene succinate (PBS) can be easily decompose in the soil without impacting environment, which increases its demand globally. Additionally, the increasing demand for biodegradable, composite plastic products and for the petroleum-based blended products also increases the demand of conventional polybutylene succinate (PBS) globally.
  • Based on process, the polybutylene succinate (PBS) market is segmented into trans-esterification and direct esterification. The trans-esterification segment is expected to dominate the global polybutylene succinate (PBS) market.

In 2021, the trans-esterification segment is expected to dominate the market with a 66.61% market share

In 2021, the trans-esterification segment is expected to dominate the global polybutylene succinate (PBS) market with a 66.61% market share as trans-esterification process can be used for the large scale production and the purification of the polymers can be done from biodiesel which foster the demand for trans-esterification in the polybutylene succinate (PBS) production. Additionally, the trans-esterification has several environmental advantages over the other methods, has shorter reaction times, and helps maintain the proper composition of PBS, increasing the demand for fluids for onshore locations.

  • Based on application, the polybutylene succinate (PBS) market is segmented into bags, mulch film, packaging film, flushable hygiene products, fishing nets, coffee capsules, wood plastic composites and others. In 2021, the mulch film segment is expected to dominate the global polybutylene succinate (PBS) market with 26.96% market share as the rising demand for agriculture products globally is increasing its requirement globally. Moreover, the cultivation of new crops and field areas is increasing, which boosts the demand for biodegradable mulch film in the region. Also, owing to their properties such as ability to prevent moisture loss of soil and to maintain the quality of soil, which makes the mulch films segment to dominate across the globe.
  • Based on usage, the polybutylene succinate (PBS) market is segmented into single-use and reusable. In 2021, the reusable segment is expected to dominate the global polybutylene succinate (PBS) market with a 71.99% market share as re-useable PBS products are cost effective than single use PBS products and they have good strength properties and can be used for the storage of goods which makes reusable dominates the market. Moreover, the government or the higher authorities are also initiating the use of the re-usable packaging products and the high demand for reusable due to the ban on plastic bags also boosts this segment globally.
  • Based on packaging layer, the polybutylene succinate (PBS) market is segmented into primary packaging, secondary packaging and tertiary packaging. In 2021, the primary packaging segment is expected to dominate the global polybutylene succinate (PBS) market with a 47.11% market share as primary packaging attracts more customers for buying more goods as it protects the items from external damages. Additionally, the increasing demand for protective packaging and customized primary packaging for different products along with the surging demand for attractive and reusable packaging products.
  • Based on end-use, the polybutylene succinate (PBS) market is segmented into packaging, agriculture, textile, consumer goods, electrical and electronics, automotive, and others. The packaging segment is expected to dominate the global polybutylene succinate (PBS) market.

In 2021, the packaging segment is expected to dominate the market with a 28.28% market share

In 2021, the packaging segment is expected to dominate the global polybutylene succinate (PBS) market with a 28.28% market share as the demand for packaging products is increasing in all industries along with high adoption of compostable packaging. Moreover, the factors such as growing demand for customized packaging products for different products and increasing demand for biodegradable packaging products as it protects the high-end items from external damages will also boost the growth of the packaging segment.

Major Players

Data Bridge Market Research recognizes the following companies as the major polybutylene succinate (PBS) market players  in polybutylene succinate (PBS) market are Aliaxis Group S.A. (Belgium), Polybutylene succinate (PBS)life Austria GmbH & CO KG (Austria), SEKISUI CHEMICAL CO., LTD (Japan)., Wienerberger AG (Austria), ORBIA (Mexico), ADVANCED DRAINAGE SYSTEMS (U.S.), SUPREME.CO.IN. (India), SAUDI ARABIAN AMIANTIT CO. (Saudi Arabia), Forterra Inc. (New Zealand), Old Castle Infrastructure Inc. (U.S.), OKA CORPORATION BHD (Malaysia) and NAN YA PLASTICS CORPORATION (Taiwan).

Market Development

  • In April 2021, Mitsubishi Chemical Corporation has Develop Marine-Biodegradable Form of BioPBS. The company is making development plans to ensure its BioPBS line of plant-derived polybutylene succinate (PBS) products. This development helps the company to increase revenue and product portfolio.
  • In May 2019, Eastman Chemical Company announced investments in expanding its capabilities to produce hydrogenated and non-hydrogenated hydrocarbon resins at Middelburg. This development helps the company to increase revenue and production capacity.
  • In 2019 NaturePlast have entered into collaborative projects for bio-plastics Europe project. This development helps the company to develop sustainable strategies and solutions for bio-based plastic products.

Regional Analysis

Geographically, the countries covered in the polybutylene succinate (PBS) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in polybutylene succinate (PBS) market during the forecast period 2021 -2028

Asia-Pacific dominated the polybutylene succinate (PBS) market and will continue to dominate the polybutylene succinate (PBS) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing demand for biodegradable product combined with the high demand for interior automotive products. in this region.

North America is estimated to be the fastest growing region in polybutylene succinate (PBS) market the forecast period 2021 -2028

North America is expected to grow during the forecast period due to the strict policies for single use plastic products and the high demand for biodegradable packaging within the region.

COVID-19 Impact Analysis

The emergence of COVID-19 largely impacted the chemicals and materials industry and the global polybutylene succinate (PBS) market was also critically affected by the pandemic. The imposition of various lockdown, social and travel restrictions by government authorities to curb the diseases, led to various challenges for the market. Various manufacturing industries were shut down worldwide, which further led to an overall decline in its production and supply chain disruptions (raw material delays or non-arrival, delayed finance flows), which also largely hampered the market. Numerous packaging plants and food and pharmaceutical plants were forced to close across the country due to the coronavirus (Covid-19) pandemic's enforced lockdown. Furthermore, the statewide lockdown has resulted in a diminishing supply of raw materials, a workforce shortage, logistical availability, and other issues, all of which have hampered the operations of the packaging, pharmaceutical, and food and beverage businesses.

The epidemic has severely limited the expansion as well as he growth of the polybutylene succinate sector, which is largely employed in the packaging, pharmaceutical, and food and beverage industries.

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