The polybutylene succinate (PBS) market features diverse applications with the dominating segment being biodegradable plastics. PBS is widely used in packaging materials such as films, bottles, and containers, providing a sustainable alternative to traditional plastics. Its excellent mechanical properties make it suitable for textiles, automotive components, and construction materials. Additionally, PBS finds applications in agriculture for mulch films and in medical devices due to its biocompatibility. Its versatility and eco-friendly characteristics position PBS as a key player in the sustainable materials market.
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Data Bridge Market Research analyses that the 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. The increased demand for sustainable packaging materials has led to a higher utilization of Polybutylene Succinate (PBS). Its eco-friendly properties make it a preferred choice for manufacturers seeking to reduce their environmental footprint while delivering packaging solutions aligned with consumer preferences for sustainability.
Key Findings of the Study
Consumer preference is expected to drive the market's growth rate
Manufacturers are increasingly integrating polybutylene succinate (PBS) into their products due to heightened consumer preferences for eco-friendly options. PBS's biodegradability and reduced environmental impact resonate with consumers seeking sustainable alternatives. This shift reflects a broader trend toward environmentally responsible consumption, prompting businesses to prioritize PBS in their offerings, from packaging materials to consumer goods. PBS aligns with consumer values and supports companies in meeting sustainability goals while meeting the growing demand for eco-conscious products.
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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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 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, South Africa, Egypt, Israel, 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.
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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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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global polybutylene succinate (PBS) market is segmented on the basis of product, process, application, usage, packaging layer, and end-use.
- On the basis of product, the global polybutylene succinate (PBS) market is segmented into conventional polybutylene succinate (PBS), and bio-based polybutylene succinate (PBS). In 2022, the conventional polybutylene succinate (PBS) segment is set to assert dominance in the PBS market with a 72.59% market share during the forecast period of 2022-2029. Its well-established presence, versatility, and broad industrial applications position it as the preferred choice.
In 2022, the conventional polybutylene succinate (PBS) segment of the product segment is anticipated to dominate the global polybutylene succinate (PBS) market
In 2022, the conventional polybutylene succinate (PBS) segment is set to assert dominance in the PBS market with a 72.59% market share during the forecast period of 2022-2029. Its well-established presence, versatility, and broad industrial applications position it as the preferred choice. As sustainability gains traction, conventional PBS, with its proven track record, emerges as the leading contender to meet the growing demand for eco-friendly and biodegradable plastics.
- On the basis of process, the global polybutylene succinate (PBS) market is segmented into trans-esterification, and direct esterification. In 2022, the trans-esterification segment is poised to take the lead in the polybutylene succinate (PBS) market with a 66.61% market share during the forecast period of 2022-2029. This method plays a pivotal role in PBS production, offering enhanced control over material properties and quality.
In 2022, the trans-esterification segment of the process segment is anticipated to dominate the global polybutylene succinate (PBS) market
In 2022, the trans-esterification segment is poised to take the lead in the polybutylene succinate (PBS) market with a 66.61% market share during the forecast period of 2022-2029. This method plays a pivotal role in PBS production, offering enhanced control over material properties and quality. Its versatility and efficiency make it the preferred choice for manufacturers, ensuring its dominance in meeting the rising demand for sustainable and biodegradable plastics.
- On the basis of application, the global polybutylene succinate (PBS) market is segmented into bags, mulch film, packaging film, flushable hygiene products, fishing nets, coffee capsules, wood plastic composites, and others. In 2022, the mulch film segment is projected to dominate the polybutylene succinate (PBS) market with a 26.96% market share during the forecast period of 2022-2029. PBS's biodegradable properties make it an ideal choice for producing environmentally friendly mulch films, contributing to sustainable agriculture practices, and addressing the need for biodegradable materials in this application.
- On the basis of usage, the global polybutylene succinate (PBS) market is segmented into single-use, and reusable. In 2022, the reusable segment is anticipated to lead the polybutylene succinate (PBS) market with a 71.99% market share during the forecast period of 2022-2029. PBS's durability and biodegradability make it an attractive choice for manufacturing reusable products that align with sustainability goals, such as eco-friendly containers, textiles, and consumer goods.
- On the basis of packaging layer, the global polybutylene succinate (PBS) market is segmented into primary packaging, secondary packaging, and tertiary packaging. In 2022, primary packaging is set to dominate the polybutylene succinate (PBS) market with a 47.11% market share during the forecast period of 2022-2029. PBS's biodegradability and suitability for creating sustainable primary packaging materials cater to the growing demand for eco-friendly and responsible packaging solutions, positioning it as a dominant choice in this sector.
- On the basis of end-use, the global polybutylene succinate (PBS) market is segmented into packaging, agriculture, textile, consumer goods, electrical and electronics, automotive, and others. In 2022, the packaging segment is poised to lead the polybutylene succinate (PBS) market with a 28.28% market share during the forecast period of 2022-2029. PBS's biodegradability, mechanical strength, and suitability for eco-friendly packaging solutions align with the increasing demand for sustainable packaging materials, making it a dominant choice in this application.
Major Players
Data Bridge Market Research recognizes the following companies as global polybutylene succinate (PBS) market players in global 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).
Market Developments
- In April 2021, Mitsubishi Chemical Corporation introduced a significant innovation by developing a marine-biodegradable variant of BioPBS, a plant-derived polybutylene succinate (PBS) product line. This strategic move aligns with the company's commitment to sustainability and addresses environmental concerns related to plastic waste in marine ecosystems. The introduction of this marine-biodegradable BioPBS not only enhances its product portfolio but also positions the company to capture opportunities in the growing market for eco-friendly materials, potentially increasing revenue.
- In April 2019, Eastman Chemical Co. made a significant announcement regarding its acquisition of Marlotherm from Sasol. This strategic move aimed to expand Eastman's portfolio of heat transfer fluids and provide a broader range of offerings to its global clientele. By integrating Marlotherm into its product line, Eastman aimed to enhance its capabilities in serving various industries that rely on heat transfer fluids, strengthening its position as a leading provider in this sector.
Regional Analysis
Geographically, the countries covered in the global polybutylene succinate (PBS) market report are the 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, South Africa, Egypt, Israel, 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.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global polybutylene succinate (PBS) market during the forecast period 2022 - 2029
Asia-Pacific dominates the polybutylene succinate (PBS) market, boasting the largest market share and revenue, with continued dominance expected from 2022 to 2029. The region's growth is driven by surging demand for biodegradable products, particularly in China. China's interior automotive sector is a significant contributor, as the nation witnesses increased demand for PBS in manufacturing environmentally friendly interior automotive components. This growth underscores Asia-Pacific's pivotal role in the global PBS market.
North America is expected to dominate the global polybutylene succinate (PBS) market in the forecast period 2022 - 2029
North America is poised for substantial growth in the polybutylene succinate (PBS) market from 2022 to 2029. Stringent regulations against single-use plastic products are driving demand for biodegradable alternatives, including conventional PBS. The region's focus on sustainability aligns with the increased use of PBS in reusable products. This dual emphasis on regulatory compliance and eco-friendly solutions positions North America as a key growth region in the global PBS market.
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