Global Polybutylene Succinate (PBS) Market, By Product (Conventional Polybutylene Succinate (PBS), 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, Reusable) , Packaging Layer (Primary Packaging, Secondary Packaging, Tertiary Packaging) , End-Use (Packaging, Agriculture, Textile, Consumer Goods, Electrical And Electronics, Automotive, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been surge in growth of the chemical industry. In addition to this, polybutylene succinate are largely employed in the packaging, pharmaceutical, and food and beverages industry, which further boosts the market growth over the forecast period. Moreover, it is emerging as a substitute for polypropylene (PP) and polyethylene terephthalate (PET), which also boosts the market growth rate.
Global Polybutylene succinate (PBS) Market was valued at USD 71.23 billion in 2021 and is expected to reach USD 124.69 billion by 2029, registering a CAGR of 7.25% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Conventional Polybutylene Succinate (PBS), 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, Reusable) , Packaging Layer (Primary Packaging, Secondary Packaging, Tertiary Packaging) , End-Use (Packaging, Agriculture, Textile, Consumer Goods, Electrical And Electronics, Automotive, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Indorama Ventures Public Company Limited (Thailand), Alpek S.A.B. de C.V. (Mexico), Jiangsu Sanfangxiang Group Co., Ltd. (China), Far Eastern New Century Corporation (Taiwan), DAK Americas (U.S.), BASF SE (Germany), Zhejiang Biodegradable Advanced Material Co. Ltd (China), Xinhaibio (China), Lubrilog (France) ECCO Gleittechnik GmbH (Germany), HUSK-ITT Corporation (U.S.), Setral Chemie GmbH (Germany), IKV Tribology Ltd (Germany),Hangzhou Ruijiang Chemical Co., (China) and WILLEAP (South Korea)
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Market Opportunities
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Market Definition
The polybutylene succinate (PBS) is a thermoplastic polymer resin from the polyester family. PBS is a type of biodegradable aliphatic polyester with properties that are comparable to polypropylene. It is biodegradable or decompose polymer with a relatively high melting temperature, good toughness. It is a versatile semi-crystalline polymer with a semi-crystalline structure.
Polybutylene Succinate (PBS) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Surge in Automotive Production
For automotive applications, the polybutylene succinate is frequently combined with natural fibers like switchgrass (SG). These innovative composite materials are widely employed in the automotive sector since they are touted as viable bio-based alternatives to conventional petroleum-based polymers. According to OICA, light commercial vehicle production in France increased by 6.5 percent from 4, 95,123 in 2018 to 5, 27,262 in 2019, while in Spain up by 5.6 percent from 4, 96,671 in 2018 to 5, 24,504 in 2019. As a result of rising automotive production, demand for polybutylene succinate will gradually rise, acting as a market driver.
- Expansion of Government's Agricultural Initiatives
Polybutylene succinate is becoming more widely used in agricultural applications, such as mulch films. Mulch films are commonly used to change soil temperature, control weed development, and reduce moisture loss, and increase crop yield and precociousness. Governments are also investing extensively in agricultural projects and investments because it is one of the most effective ways to improve environmental sustainability. The European government has implemented initiatives such as the Common Agricultural Policy (CAP) and Young Farmers. The government announced the formation of an animal husbandry infrastructure development fund worth Rs. 15,000 crore (US$ 2.13 billion) in May 2020. As a result, the government's many agricultural efforts are boosting the agricultural sector in various locations. And, as the agricultural sector grows, so will the demand for polybutylene succinate to make mulch films, which will act as a growth driver for the polybutylene succinate market during the projection period.
Furthermore, the need for polybutylene succinate to manufacture critical electrical and electronic components has increased, which is projected to promote the growth of the polybutylene succinate market. The increasing plastics industry is predicted to boost total demand for polybutylene succinate during the projection period. Furthermore, the polybutylene succinate market is predicted to rise due to rising demand for light weight car components.
Opportunities
- Surge in Innovation and Policies
The rising demand of the innovative packaging especially for attracting large number of consumers extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the government initiatives and wide policies towards the polybutylene succinate product will further expand the future growth of the polybutylene succinate (PBS) market.
Restraints/Challenges
- Limitation of Polybutylene Succinate (PBS)
Rapid crystallization reaction, which can decrease strength qualities, is one of the primary limitations that may affect the polybutylene succinate (PBS) market. This limitation will create hindrances for the growth of the polybutylene succinate (PBS) market.
- Fluctuation in Crude Oil Prices
The basic materials for polybutylene succinate, notably succinic acid and 1, 4 butane-diols, are derived from petroleum feedstock. As a result, crude oil price fluctuations affect the price of polybutylene succinate raw materials. The price of polybutylene succinate also rises as a result of the uncertainty in crude oil prices. As a result, the polybutylene succinate market makers are likely to face severe fluctuation in crude oil prices. This factor is projected to challenge growth of the global polybutylene succinate (PBS) market.
This polybutylene succinate (PBS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the polybutylene succinate (PBS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Polybutylene Succinate (PBS) Market
The recent outbreak of coronavirus had a negative impact on the polybutylene succinate (PBS) market as it effected the imports and exports around the world. The governments of various countries have put export restrictions on goods, causing substantial supply disruptions. Producers of polybutylene succinate also encounter challenges such as delays in receiving raw materials such as succinic acid and 1, 4 butane diol, causing client shipments to be delayed. Furthermore, the quality of certain raw materials has deteriorated dramatically, and the lack of vessel availability and blank sailing has a considerable impact on cargo orders. 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 covid-19 epidemic is severely limiting the expansion of the polybutylene succinate sector, which is largely employed in the packaging, pharmaceutical, and food and beverage industries. All of these factors have a moderate impact on the growth of the polybutylene succinate market.
Recent Development
- In 2021 April, Mitsubishi Chemical Corporation company have Develop Marine-Biodegradable Form of BioPBS. The company is making development plans to ensure that it's BioPBS line of plant-derived polybutylene succinate (PBS) products. This development helps the company to increase revenue and product portfolio.
Global Polybutylene Succinate (PBS) Market Scope
The polybutylene succinate (PBS) market is segmented on the basis of product, process, application, usage, packaging layer, end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Conventional Polybutylene Succinate (PBS)
- 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
- Reusable
Packaging Layer
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
End-Use
- Packaging
- Agriculture
- Textile
- Consumer Goods
- Electrical and Electronics
- Automotive
- Others
Polybutylene Succinate (PBS) Market Regional Analysis/Insights
The polybutylene succinate (PBS) market is analyzed and market size insights and trends are provided by country, product, process, application, usage, packaging layer, end-use as referenced above.
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, Israel, Egypt, South Africa, 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.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increasing demand for biodegradable product. China is leading the growth of the Asia-Pacific market due to more demand for interior automotive products.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029 due to the more strict policies for single-use plastic products in the region. Moreover, the more demand for the conventional PBS in reusable products also boosts the market growth within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Polybutylene Succinate (PBS) Market Share Analysis
The polybutylene succinate (PBS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to polybutylene succinate (PBS) market.
Some of the major players operating in the polybutylene succinate (PBS) market are
- Indorama Ventures Public Company Limited (Thailand)
- Alpek S.A.B. de C.V. (Mexico)
- Jiangsu Sanfangxiang Group Co., Ltd. (China)
- Far Eastern New Century Corporation (Taiwan)
- DAK Americas (U.S.)
- BASF SE (Germany)
- Zhejiang Biodegradable Advanced Material Co. Ltd (China)
- Lubrilog (France)
- ECCO Gleittechnik GmbH (Germany)
- HUSK-ITT Corporation (U.S.)
- Setral Chemie GmbH (Germany)
- IKV Tribology Ltd (Germany)
- Xinhaibio (China)
- Hangzhou Ruijiang Chemical Co., (China)
- WILLEAP (South Korea)
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