The global polybutylene succinate market is anticipated to grow at a considerable CAGR of 9.3% during the forecast period (2024-2031). The market growth is mainly attributed to the growing need for PBS across the globe in several industries. PBS has high compatibility with fibre and is widely used in the plastic industry as it has higher crystallinity and is better suited for molding. Mulch film, packing film, bags, flushable hygiene items, fishing nets, coffee capsules, wood-plastic composites, and composites with natural fibres are all made with PBS. It piqued the packaging industry’s interest as a viable alternative to non-biodegradable polyethylene (PE), polypropylene (PP), and polystyrene (PS) plastics. The World Economic Forum has launched a new project dubbed New Plastic Economy, which promotes the use of biopolymers like PBS. Several chemical manufacturing businesses are switching from petrochemical-based PBS to bio-based PBS.
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Moreover, it is known to biodegrade more slowly than PHAs, and the government regulations which ban the use of biodegradable products are further estimated to drive the growth of the polybutylene succinate (PBS) market. PBS also shows high flexibility, has a high heat resistance among the general biodegradability resin and has high biomass utilization efficiency. The rising number of technological advancements along with the rising demand for biodegradable polymers will lead to more usage of polybutylene succinate. Industrialization in emerging economies like China and India will further lead to an increase in the demand for PBS. However, complex approvals in some countries may hamper the growth of the market. Besides, the major players strategic initiative is to drive the market growth during the forecast period. For instance, in 2020, DuPont had made a strategic partnership with DIC Corp. of Japan and its subsidiary Sun Chemical. The aim behind this partnership is to double their sales in 2021 as compared with the sales of 2019 through the degassing modules of industrial water treatment.
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Market Coverage
- Segment Covered-
o By Process
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- BASF SE, Eastman Chemical Co., The Dow Chemical Co., Koninklijke DSM N.V., and Mitsubishi Chemical Corp., among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Polybutylene Succinate Market Report Segment
By Process
- Trans-Esterification
- Direct Esterification
By Application
- Packaging/Disposables
- Agriculture
- Fibers/Non-Woven
- Automotive
- Others
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