Polybutylene Succinate (PBS) Market Forecast & Future Industry Trends 2028

The global polybutylene succinate (PBS) market is estimated to reach a high CAGR during the forecast period (2021-2028).

CLEVELAND, OHIO, UNITED STATE AMERICA, October 19, 2021 /EINPresswire.com/ --

Market Overview
PBS (polybutylene succinate) is a polyester-based thermoplastic polymer resin. PBS is an aliphatic polyester that is biodegradable and has properties similar to polypropylene. Bionolle (Showa Denko), GsPLA, and BioPBSTM are brand names (Mitsubishi Chemical). The biopolymer comprises succinic acid condensation and 1-4 butanediol (BDO), which provides a building block for biopolymer compounds to plastic manufacturers. PBS is a biodegradable aliphatic polyester with polypropylene-like properties. The US Department of Energy has named it one of the top 12 chemical bio-based building blocks for the future.

Its superior mechanical properties and processability can be used in various end-user applications using traditional processing techniques such as extrusion, injection, or blown work. It's becoming a viable alternative to polypropylene (PP) and polyethylene terephthalate (PET) (PET). In certain applications, it can substitute polyolefin and polystyrenes and polylactic acid (PLA).

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Market Dynamics
The growing market for the packaging industry drives the global polybutylene succinate (PBS) market. The increasing demand for biodegradable polymers across the globe is expected to boost the market share of PBAT in the forecast period.

The growing market for the packaging industry is triggering the demand for PBS in the recent times

As per recent studies, packaging demand worldwide has reached US$917.1billion in 2019 and is projected to grow even further in the forecast period. In 2018, Asia was the largest region, accounting for 40.6 percent of global packaging consumption. North America is in the second position, accounting for 22.6 percent of global packaging usage, ahead of Western Europe, which accounts for 20.3%. However, the growing demand for packaging is responsible for triggering plastic's demand in various packaging industries worldwide. These rising plastic numbers are damaging the entire ecosystem for the past many decades.

It's not just about recycling when it comes to environmentally friendly packaging. The manufacturing process can also improve packaging's sustainability and the raw materials used. Bio-based plastics allow for the development of more environmentally friendly packaging with improved performance. Polybutylene succinate (PBS) makes an excellent candidate to contribute to cleaner end-of-life options at affordable disposal costs. PBS can get processed into films, bags, or boxes in the packaging field for both food and cosmetic packaging. In addition, it's a biodegradable and biobased polymer that can be used in various industries such as food packaging such as paper cups, disposable tableware, and gas barrier packaging. One of the best examples of its fiber compatibility is the PLA-PBS blend used to make nonwoven fabric. Furthermore, by combining different biopolymers and constructing the desired compound, improved properties can be achieved. So far, only one company has successfully commercialized bio-PBS and is still developing various bio-PBS products.

The increasing demand for biodegradable polymers across the globe is expected to boost the market share of PBAT in the forecast period.

PBS is a perfect biopolymer with a lot of versatility, heat resistance, and biodegradability. Compared to other bio-based building blocks, it has a high biomass consumption efficiency (BUE). By mixing it with other polymers, its efficiency can be tailored to particular applications. The World Economic Forum has launched a new program called New Plastic Economic, which promotes biopolymers like PBS. Several chemical processing firms are switching from petrochemical-based PBS to bio-based PBS.

Furthermore, the biodegradable PBS polymer gets decomposed into water and carbon dioxide with the microorganism present under the soil. PBS holds high heat resistance among the general biodegradability resin and shows compatibility with a fiber. Thus the features mentioned above are triggering the demand of the PBS market in recent times.

Market Segmentation:
By Type
• Bio-based Polybutylene Succinate
• Conventional Polybutylene Succinate
By Process
• Trans-esterification
• Direct Esterification
By Manufacturing Process
• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
• Film Blowing
• Fiber Spinning
By End-User
• Packaging
• Agriculture
• Textile
• Consumer Goods
• Electronics and Electrical
• Automotive

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Geographical Analysis
Asia Pacific region is projected to hold the largest market share in the polybutylene succinate market due to rising demand for the food and beverage industry, which bolsters the growth of the packaging industry in the region

Asia Pacific region is projected to hold the largest market share in the polybutylene succinate market in 2020 due to increasing demand for the food and beverage industry, which bolsters the region's growth of the packaging industry. Through the Ministry of Food Processing Industries (MoFPI), the Government of India is taking all necessary measures to increase investment in the food processing industry. As of October 29, 2020, the government has approved 37 food parks under the Mega Food Parks Scheme, 20 of which are operational and 17 of which are under construction. According to Invest India, India's food processing industry will be worth more than half a trillion dollars by 2025. According to the United States Department of Agriculture (USDA), gross retail food and beverage sales in Japan totaled $479.29 billion (53,339 billion) in 2018, up 2.3 percent from the previous year. Thus, boosting the demand for packaged food and beverages in the Asia Pacific.

Competitive Landscape
The polybutylene succinate (PBS) market is highly competitive with local and global companies. Some of the key players contributing to the market's growth include Anqing Hexing Chemical Co., Ltd, Eastman Chemical Company, Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd, Succinity Gmbh, Reverdia, Anqing Hexing Chemical Co., Ltd, PTT MCC Biochem Co., Ltd, TEIJIN LIMITED, DuPont, BASF and among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the polybutylene succinate (PBS) market globally. The key players are favoring partnership and acquisition as a growth strategy to build their business.

For instance, on 21st November 2016, Reverdia and Xinfu Sign announced the Biosuccinium Supply and Collaboration news. The collaboration aims to adopt Biosuccinium in bio-based polymers for the packaging industry.

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Sai Kiran
DataM Intelligence 4Market Research LLP
+1 8774414866
sai.k@datamintelligence.com
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