What is Global Poly(butylene succinate) (PBS) Market?
The Global Poly(butylene succinate) (PBS) Market is a dynamic and rapidly evolving sector that has gained significant attention in recent years. Poly(butylene succinate) (PBS) is a type of biodegradable plastic that is gaining popularity due to its environmentally friendly properties. It is a thermoplastic polymer resin of the polyester family and is used in various industries such as food and beverage packaging, medical, and others. The global market for PBS was valued at US$ 49 million in 2022 and is expected to reach US$ 69 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period of 2023-2029.
Biological Base, Petroleum Base in the Global Poly(butylene succinate) (PBS) Market:
The Global Poly(butylene succinate) (PBS) Market is divided into two main segments based on their source: Biological Base and Petroleum Base. The Biological Base PBS is derived from renewable resources like corn and sugarcane, while the Petroleum Base PBS is derived from non-renewable resources like petroleum. Despite the environmental benefits of Biological Base PBS, the Petroleum Base PBS holds the largest market share, accounting for over 58% of the total market. This is primarily due to its lower production cost and higher availability. However, with the increasing awareness about environmental sustainability, the demand for Biological Base PBS is expected to rise in the future.
Food and Beverage Packaging, Medical, Others in the Global Poly(butylene succinate) (PBS) Market:
The Global Poly(butylene succinate) (PBS) Market finds its applications in various sectors. The Food and Beverage Packaging sector is the largest consumer of PBS, accounting for over 82% of the total market. This is because PBS is safe for food contact and has excellent barrier properties against moisture and oxygen, making it ideal for food packaging. In the Medical sector, PBS is used in the production of medical devices and equipment due to its biocompatibility and sterilizability. Other applications of PBS include agricultural films, shopping bags, and disposable cutlery.
Global Poly(butylene succinate) (PBS) Market Outlook:
The Global Poly(butylene succinate) (PBS) Market is highly concentrated, with the top two players accounting for almost 100% of the market share. China is the largest market for PBS, holding a share of about 39%, followed by Europe and Japan. This can be attributed to the high demand for biodegradable plastics in these regions due to stringent environmental regulations and increasing consumer awareness about sustainability. Despite the competitive market landscape, the Global Poly(butylene succinate) (PBS) Market is expected to witness significant growth in the coming years, driven by the increasing demand for environmentally friendly alternatives to conventional plastics.
| Report Metric | Details |
| Report Name | Poly(butylene succinate) (PBS) Market |
| Accounted market size in 2022 | US$ 49 in million |
| Forecasted market size in 2029 | US$ 69 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | SHOWA, Mitsubishi Chemical, Anqing He Xing, Kingfa, Sealong Biotechnology, Xinjiang Blue Ridge Tunhe Chemical Industry Joint Stock Co., Ltd, Shandong LanDian Biological Technology Co., LTD., Yifan Pharmaceutical Co., Ltd., JinHui ZhaoLong High Technology Co., Ltd. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
