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Polybutylene Succinate Market

Polybutylene Succinate Market By Type (Conventional, Bio-Based), Process (Trans-Esterification, Direct Esterification), Application (Mulch Film, Packaging Film, Bags, Flushable Hygiene Products, Fishing Nets, Coffee Capsules), End Use (Packaging, Agriculture, Consumer Goods, Electrical & Electronics, Automotive) & Region - Forecast 2022 - 2032

Market Insights on Polybutylene Succinate covering sales outlook, demand forecast & up-to-date key trends

Polybutylene Succinate Market Overview

The global polybutylene succinate market demand is anticipated to be valued at US$ 76.4 Billion in 2022, forecast to grow at a CAGR of 7.5% to be valued at US$ 158 Billion from 2022 to 2032. Growth is attributed to the increased demand for Polybutylene Succinate Market, especially across end-use industries including Biomedical, packaging, agriculture among others.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 69.7  Billion

Expected Market Value (2022)

US$ 76.4 Billion

Anticipated Forecast Value (2032)

US$ 158 Billion

Projected Growth Rate (2022-2032)

7.5% CAGR

Polybutylene succinate (PBS), also known as polytetramethylene succinate, which is a biodegradable thermoplastic polyester resin synthesized by the way of polycondensation of succinic acid with 1, 4 butanediol. Polybutylene succinate is extensively used in various end-use industries such as packaging, biomedical, agriculture, and more.

China is considered to sustain as the most lucrative market for Polybutylene Succinate. The demand for interior automotive products in the nation is expected to grow at a substantial rate in the coming years, with major demand from the Asia Pacific region.

The increasing demand for lightweight automotive components is expected to boost the growth of the Polybutylene Succinate market during the forecast period. Moreover, the burgeoning plastics industry is anticipated to fuel the overall PBS market.

However, the 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 global Polybutylene Succinate market during the forecast period.

Which are Some Prominent Drivers Influencing Polybutylene Succinate Market Growth?

Polybutylene succinate is a biodegradable polymer, as such, the growing demand for biodegradable polymers across the globe is predicted to in turn result in a steady growth of global Polybutylene succinate market. In addition, the growth in adoption for agricultural applications, such as for mulch films, is anticipated to set the pace for growth of Polybutylene succinate market. Furthermore, the increase in end use industries including that in packaging industry is expected to bolster the growth of the polybutylene succinate market during the forecast period.

Rising demand of the innovative packaging especially for attracting large number of consumers is anticipated to be a major factor for the rapid growth of the Polybutylene Succinate Market. Moreover, an increasing demand of light weight automobile component is also expected to fuel the growth of the Polybutylene Succinate Market.

There has been an increase in the demand for the polybutylene succinate to produce the important electrical and electronic components, which in turn is expected to accelerate the growth of the Polybutylene Succinate Market. The growing plastic industry is expected to foster the overall demand for polybutylene succinate during the forecast period.

Polybutylene succinate is often blended with natural fibers like switchgrass (SG) for applications in automotive products. Such novel composite materials are touted as potential bio-based alternatives to conventional petroleum-based plastics in the automobile industry because of which they are considerably used in automotive manufacturing. This factor is anticipated to augment the Polybutylene market.

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What are the Challenges Faced by the Polybutylene Succinate Market Industry?

The raw materials for polybutylene succinate, namely succinic acid and 1, 4 butanediol are produced from petroleum feedstock, as such, price of these is susceptible to fluctuations resulting from volatility of crude oil price. This is expected to act as an impediment to the growth of Polybutylene succinate market during the forecast period. However, a recent trend witnessed among Polybutylene succinate market is that efforts are channelized towards developing bio-based Polybutylene succinate from bio based 1, 4 butanediol and succinic acid.

Imports and exports of polybutylene succinate globally have been negatively impacted by the COVID-19 pandemic. Export restrictions on commodities were imposed by the governments of different countries, which are notably disrupting supplies.

In addition, the quality of certain raw materials has declined significantly and the shipment orders are severely affected. The growth in the polybutylene succinate market is moderately limited by all these factors.

Which Region is an Opportunistic market for Polybutylene Succinate Market?

Asia Pacific Polybutylene succinate market is expected to register fastest growth during the forecast period, owing to the increasing demand for biodegradable products among consumers in the region. China is leading the growth of the Asia-Pacific Polybutylene Succinate market due to more demand for interior automotive products.

Moreover, the other factor that drives the demand for Polybutylene Succinate in the Asia Pacific region includes the demand for packaged food and beverages, which is on an upsurge in Asia Pacific countries, owing to the increasing population, rapid urbanization, and rising disposable income of individuals.

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Where does Europe Stand with respect to Growth of the Polybutylene Succinate Market?

As per the Future Market Insights, Europe is expected to be the second largest market for Polybutylene Succinate. The key factor which is promoting the growth of the Polybutylene Succinate market in Europe includes the established automotive market in the region which creates an increasing demand for Polybutylene Succinate for the manufacturing of automotive interior.

Furthermore, major automotive players including Volkswagen, Daimler, BMW, Robert Bosch, Peugeot, Renault, Volvo, and Continental AG among various others have their headquarters in Europe. This is expected to further boost the market growth in the region during the forecast period.

Market Competition

Some of the key participants present in the global Polybutylene Succinate Market include Mitsubishi Chemicals, Showa Denko K.K, PTT MCC Biochem Co., Ltd., SK Chemical, Kingfa Science & Technology Co., Anqing Hexing chemical Co., Ltd. among others.

Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as nap-on Inc and ETIAS account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

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Scope Of Report

Report Attribute

Details

Growth Rate

CAGR of 7.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Type
  • Process
  • Application
  • End Use
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Mitsubishi Chemicals
  • Showa Denko K.K 
  • PTT MCC Biochem Co., Ltd.
  • IRe Chemical Ltd.
  • Sinoven Biopolymers Inc.
  • SK Chemical
  • Kingfa Science & Technology Co.
  • Anqing Hexing chemical Co., Ltd.

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Key Segments Profiled in the Polybutylene Succinate Market Industry Survey

Type:

  • Conventional Polybutylene Succinate
  • Bio-Based Polybutylene Succinate

Process:

  • Trans-Esterification of Polybutylene Succinate
  • Direct Esterification of Polybutylene Succinate

End Use:

  • Polybutylene Succinate for Packaging
  • Polybutylene Succinate for Agriculture
  • Polybutylene Succinate for Textile
  • Polybutylene Succinate for Consumer Goods
  • Polybutylene Succinate for Electronics and Electrical
  • Polybutylene Succinate for Automotive
  • Polybutylene Succinate for Other End Uses

Application:

  • Polybutylene Succinate for Mulch Films
  • Polybutylene Succinate for Packaging Films
  • Polybutylene Succinate for Bags
  • Polybutylene Succinate for Flushable Hygiene Products
  • Polybutylene Succinate for Fishing Nets
  • Polybutylene Succinate for Coffee Capsules
  • Polybutylene Succinate for Wood Plastic Composites

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global polybutylene succinate market to expand at a 7.5% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic polybutylene succinate market

Mitsubishi Chemicals, Showa Denko K.K, PTT MCC Biochem Co., Ltd., IRe Chemical Ltd., Sinoven Biopolymers Inc., SK Chemical are some prominent key players of Polybutylene Succinate Market.

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Nikhil Kaitwade
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Polybutylene Succinate Market