The global poly(butylene succinate) (PBS) market size is expected to reach USD 115,306.8 thousand in 2023 and USD 361,225.6 thousand by 2033. Over the forecast period, global poly(butylene succinate) sales are likely to soar at 12.1% CAGR.
| Attributes | Key Insights |
|---|---|
| Estimated Polybutylene Succinate Market Size (2023) | USD 115,306.8 thousand |
| Projected Value of Polybutylene Succinate Market (2033) | USD 361,225.6 thousand |
| Expected Polybutylene Succinate Market Value CAGR (2023 to 2033) | 12.1% |
| Collective Value Share: Top 5 Countries (2023E) | 60% to 70% |
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Market to Expand Nearly 3.2X through 2033
The global market for poly(butylene succinate) is expected to expand threefold through 2033. This is attributable to rising usage of poly(butylene succinate) across industries like agriculture, medical, and textiles.
Bio-based Poly(butylene Succinate) to Lead the Market
As per the latest report, bio-based BPS is expected to remain a highly sought-after product type during the forecast period. This is attributable to growing end user preference for bio-based BPS due to its cost-effectiveness, low toxicity, and other benefits.
Western Europe to Remain Undisputed Leader in PBS Consumption
As per the latest poly(butylene succinate) market analysis, Western Europe is projected to retain its dominance in the global poly(butylene succinate) market through 2033. It is expected to hold a prominent share of 46.5% by 2033 due to factors like:
The shifting trend towards bioplastics, including biodegradable polymers like PBS, is a key factor driving the Western Europe polybutylene succinate market. Europe-based consumers and businesses are rapidly shifting towards eco-friendly alternatives. This is expected to elevate demand for polybutylene succinate in the region.
Governments and regulatory bodies like the European Union are introducing new regulations and policies to curb usage of plastics. This is putting biodegradable materials like poly(butylene succinate) into the spotlight across European countries.
Poly(butylene succinate) is suitable for various uses, including packaging materials, agricultural films, disposable products, and medical applications since it is a renowned biodegradable plastic polymer. Its preference can be attributed to good mechanical strength, flexibility, and processability.
Poly(butylene succinate) is utilized in industries like agriculture and food packaging, where biodegradability and environmental compatibility are essential factors. This is due to its ability to break down into natural compounds like carbon dioxide and water under appropriate conditions.
Adoption of poly(butylene succinate) significantly reduces environment contamination. This makes it an ideal alternative to non-biodegradable plastics and fuels its demand across diverse industries. The properties of PBS can be tailored by adjusting its composition, molecular weight, and processing conditions. This allows PBS manufacturers to meet specific requirements for different applications.
Principal Consultant
The global poly(butylene succinate) witnessed a drastic downfall during the historical period. It exhibited a -32.9% CAGR between 2018 and 2022. A robust CAGR of 12.1% has been predicted for the poly(butylene succinate) market for the assessment period.
| Historical CAGR (2018 to 2022) | -32.9% |
|---|---|
| Forecast CAGR (2023 to 2033) | 12.1% |
The global market experienced a significant drop in production in 2022, leading to negative market growth during the historical period. This downfall can be attributed to several factors, including raw material unavailability, pricing volatility, disruptions in the supply chain due to geopolitical circumstances, and the COVID-19 wave in China in late 2022.
In the forecast period, the demand and production of poly(butylene succinate) is anticipated to rise rapidly at a CAGR of 12.1%. This is attributable to rapid expansion of industries like medicine and agriculture, growing preference for biodegradable materials, and rising demand for packaged food products.
The surging popularity of on-the-go packaged food items is leading to a global rise in convenience food consumption. This surge is set to drive uplift demand for PBS in food packaging over the forecast period.
The substantial usage of PBS in the packaging sector and growing automotive industry are expected to bolster global sales of polybutylene succinate. Similarly, the utilization of PBS composite wire in 3D printing and ongoing research and development initiatives in biodegradable polymers are expected to create opportunities for poly(butylene succinate) manufacturers.
On the other hand, certain factors are anticipated to impede market expansion throughout the projection period. These include substantial greenhouse gas emissions during production, crude oil prices, supply fluctuations, and stringent government regulations.
Rising Demand for Eco-friendly Packaging to Boost Sales
The increasing adoption of eco-friendly products in the packaging industry is a crucial driving force behind PBS sales. Packaging is a fundamental application area for plastics, and with the rising need for sustainable packaging solutions, PBS has emerged as a viable choice.
The versatility of PBS allows it to be molded into various packaging formats, including films, bags, containers, and more. As governments and consumers push for reduced plastic waste and increased recyclability, PBS offers a compelling solution. PBS’s biodegradability reduces the long-term environmental impact associated with conventional plastics. This makes it an attractive choice for brands that align with sustainable packaging trends.
The versatility of PBS extends to its compatibility with other bioplastics and traditional polymers, enabling the formulation of hybrid materials that harness the strengths of multiple materials while mitigating their individual weaknesses. This adaptability fosters innovation in packaging design, fostering a dynamic landscape of possibilities.
The upsurge in demand for eco-friendly packaging solutions serves as a formidable driving factor propelling the growth of the global Poly(butylene succinate) (PBS) market. Its biodegradability and versatile material properties position PBS as an ideal candidate to revolutionize the packaging industry, instigating a positive cascade of change toward a more sustainable future.
Delay in Legislation to Ban Non-biodegradable Plastic Products Limiting Growth
The delay in legislation to ban non-biodegradable plastic products can be seen as a restraining factor for the global poly(butylene succinate) market's growth. It might reduce overall product demand in certain regions through 2033.
Poly(butylene succinate) has gained attention as an environmentally friendly alternative to conventional plastics derived from fossil fuels because it is biodegradable and compostable. It finds extensive applications in packaging, textiles, automotive components, etc.
While PBS is positioned as an eco-friendly alternative, the presence of non-biodegradable plastics in the market due to delayed legislation can create competition. Consumers and industries might continue to rely on traditional plastics, inhibiting the adoption of PBS for applications that would benefit from its biodegradability.
Regulatory measures such as bans or restrictions on non-biodegradable plastics could drive demand for biodegradable alternatives like PBS. However, if these regulations are delayed, businesses and consumers may not feel the immediate pressure to switch to greener options, impacting the incentive to invest in PBS-based products.
The delay in legislation could slow down the overall development of the bioplastics market, affecting not just PBS but other biodegradable materials as well. A robust and diverse market for biodegradable plastics requires efforts across industries, consumers, and governments.
Key Poly(butylene Succinate) Market Trends Shaping Growth
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The table below highlights key countries’ growth rates. China, the United Kingdom, and Germany are expected to witness higher CAGRs of 14.2%, 14.7%, and 14.2%, respectively, through 2033.
| Country | Value CAGR |
|---|---|
| United States | 12.0% |
| Germany | 14.2% |
| United Kingdom | 14.7% |
| Japan | 11.4% |
| South Korea | 14.0% |
| China | 14.2% |
The United States poly(butylene succinate) market size is forecast to reach USD 86,868.9 thousand by 2033. Over the assessment period, poly(butylene succinate) sales in the United States will likely rise at 12.0% CAGR.
The growing utilization of poly(butylene succinate) in the United States medical sector is creating substantial growth prospects for the PBS market. PBS, known for its biocompatibility, biodegradability, and customizable mechanical properties, is gaining prominence across several medical applications.
PBS is finding application in medical packaging due to its ability to maintain device sterility while aligning with sustainability requirements. Implantable medical devices benefit from PBS's biocompatible and biodegradable nature, reducing the need for removal surgeries and enhancing patient outcomes.
PBS's controlled release properties hold promise for innovative drug delivery systems, potentially improving treatment efficacy and patient adherence. The growing focus on research and development efforts within the United States medical sector is poised to fuel market growth in the forecast period.
As per the latest poly(butylene succinate) market analysis, Germany is expected to dominate the Western Europe poly(butylene succinate) market through 2033. This is due to increasing demand from the packaging sectors and growing popularity of bio-based BPS.
Germany poly(butylene succinate) market value is forecast to reach USD 42,548.6 thousand by 2033. Overall polybutylene succinate sales revenue in the country is predicted to rise at 14.2% CAGR.
There is a diminishing demand for petro-based PBS in Europe as customers increasingly favor bio-based PBS as a seamless substitute. The healthcare and agriculture sectors in countries like Germany are experiencing substantial growth, which is expected to impact the PBS industry positively.
The establishment of new packaging facilities in the country is anticipated to drive the expansion of the packaging, leading to increased demand for bio-based packaging material. This, in turn, is poised to be advantageous for the PBS market in the coming years.
The United Kingdom poly(butylene succinate) market is expected to reach a valuation of USD 40,361.5 thousand by 2033. Over the forecast period, demand for polybutylene succinate in the country is set to increase at 14.7% CAGR.
Several factors drive growth in polybutylene succinate market across the United Kingdom. These include growing demand for sustainable and bio-based materials and expansion of industries like packaging and medical.
Growing environmental concerns due to increasing levels of plastic pollution are prompting businesses across the United Kingdom to shift towards bioplastics. As PBS is bio-based and biodegradable, it is becoming an ideal alternative for companies and consumers.
China poly(butylene succinate) market revenue is anticipated to total USD 27,047.2 thousand by 2033. Over the assessment period, polybutylene succinate sales in China are predicted to climb at 14.2% CAGR.
Multiple factors are anticipated to drive growth in China market. These include rapid shift towards biodegradable packaging materials and increasing demand for packaged food products.
Rapid population growth and changing lifestyles are creating high demand for packaged food products across China. This, in turn, is expected to boost sales of polybutylene succinate as it is often used to make several food packaging products, including films, bottles, and trays.
Japan's poly(butylene succinate) market is set to thrive at a robust CAGR of 11.4% during the assessment period. It is expected to total a valuation of USD 10,037.6 thousand by 2033. This is attributable to enforcement of government regulations and policies on plastic usage.
Japan government has introduced strict regulations to reduce plastic usage, particularly single-use plastics. This creates demand for sustainable and biodegradable alternatives like PBS, which is expected to continue through 2033.
The below section predicts the bio-based PBS segment's prominence based on product type. It is projected to exhibit a CAGR of 12.5% between 2023 and 2033.
Based on end-use industry, agriculture segment is expected to dominate the market. It will likely expand at 12.7% CAGR during the assessment period.
| Top Segment (Product Type) | Bio-based BPS |
|---|---|
| Value CAGR (2023 to 2033) | 12.5% CAGR |
As per the latest poly(butylene succinate) market analysis, demand is expected to remain high for bio-based BPS throughout the forecast period. This is attributable to increasing utilization of bio-based BPS in packaging materials due to its cost-effectiveness, non-reactive nature, and low toxicity, aligning with ecological sustainability.
The bio-based poly(butylene succinate) segment is forecast to thrive at 12.5% CAGR over the assessment period. It is predicted to attain a valuation of 321,060.2 thousand by 2033. Typical applications of bio-based BPS in the packaging sector include producing boxes, films, and bags.
In contrast, petroleum-based PBS is comparatively more refined than its bio-based counterpart. The continuous and efficient manufacturing of products from petro-based raw materials is particularly well-suited for large-scale commercial applications.
| Top Segment (End-use Industry) | Agriculture |
|---|---|
| Predicted Value (2033) | 12.7% CAGR |
The global poly(butylene succinate) market is expanding primarily due to burgeoning adoption of poly(butylene succinate) in agriculture. PBS, a biodegradable thermoplastic, is gaining traction as a sustainable solution for various agricultural applications.
PBS-based mulch films improve soil quality, control weeds, and regulate temperature while eventually breaking down into environmentally benign components. As a result, its consumption will continue to remain high in the agriculture sector.
PBS is used in plant pots and trays, reducing the need for transplanting seedlings and minimizing plastic waste in agriculture. This aligns with the increasing demand for sustainable farming practices, positioning PBS as pivotal in steering the global PBS market towards a more environmentally friendly and sustainable future.
As per the latest report, agriculture segment is expected to progress at 12.7% CAGR during the forecast period. It is projected to total a valuation of 160,613.5 thousand by 2033.
Global poly(butylene succinate) market is oligopolistic, with key players holding significant market shares along with emerging players. Key poly(butylene succinate) manufacturers are devoted to gaining significant market share and avoiding various market challenges.
Key manufacturers are also signing agreements and contracts with end-use industries for long-term supply of material & and to gain more profit. They are engaged in research and development for the launch of new polymer blends and their applications.
Innovations in production technologies, such as more efficient and cost-effective polymerization processes, could increase production capacity and reduce manufacturing costs. New catalysts and process improvements could also impact the supply landscape.
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 115,306.8 Thousand |
| Projected Market Value (2033) | USD 361,225.6 Thousand |
| Anticipated Growth Rate (2023 to 2033) | 12.1% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Thousand, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered | Purity, Production process, End-use industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia; South Asia and Pacific; Middle East and Africa |
| Key Countries Covered | United States, Canada, Mexico, Argentina, Brazil, Germany, Italy, France, United Kingdom, Spain, Nordics, BENELUX, Poland, Hungary, Romania, Czech Republic, Russia, China, Japan, South Korea, India, Association of South East Asian Nations, Australia and New Zealand, Gulf Cooperation Council Countries, Türkiye, Northern Africa, South Africa |
| Key Companies Profiled | Mitsubishi Chemical Corporation; Hengli Group Co., Ltd.; Anhui Sealong Biotechnology Co., Ltd.; Xinjiang Blue Ridge Tunhe Sci. &Tech. Co., Ltd.; Ire Chemical India; Shandong Landian Biological Technology Co., Ltd.; Shangdong Life Chemical Co., Ltd.; GO YEN CHEMICAL INDUSTRIAL CO LTD ( GYC Group); Chang Chun Group |
The global market was valued at US$ 104,502.3 thousand in 2022.
The global market size is set to reach US$ 115,306.8 thousand in 2023.
Global demand is expected to rise at 12.1% CAGR through 2033.
The global market is expected to reach US$ 361,225.6 thousand by 2033.
Usage of poly(butylene succinate) remains high in the agriculture industry.
Rising demand for eco-friendly packaging is boosting sales of poly(butylene succinate).
BASF and Hindustan Polymers are key suppliers of PBS in India.
Polybutylene succinate is mostly used for packaging and agriculture applications.
Mitsubishi Chemical Corporation and Hengli Group Co., Ltd. are key manufacturers.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Thousand) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Product Type 9.1. Bio-Based 9.2. Petro-Based 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Processing Method 10.1. Injection Moulding 10.2. Extrusion 10.3. Blow Molding 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End-use Industry 11.1. Packaging Industry 11.1.1. Films 11.1.2. Bags 11.1.3. Containers 11.2. Agriculture 11.2.1. Mulch Films 11.2.2. Planting Pots 11.2.3. Others 11.3. Medical 11.3.1. Implants 11.3.2. Drug Delivery Systems 11.4. Textile 11.4.1. Sportswear 11.4.2. Apparels 11.4.3. Interior Textiles 11.5. Others 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Western Europe 12.4. Eastern Europe 12.5. East Asia 12.6. South Asia & Pacific 12.7. Middle East & Africa 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Country Wise Market Analysis 21. Market Structure Analysis 22. Competition Analysis 22.1. Mitsubishi Chemical Corporation 22.2. Hengli Group Co., Ltd. 22.3. Anhui Sealong Biotechnology Co., Ltd. 22.4. Xinjiang Blue Ridge Tunhe Sci. &Tech. Co., Ltd. 22.5. Ire Chemical India 22.6. Shandong Landian Biological Technology Co., Ltd. 22.7. Shangdong Life Chemical Co., Ltd. 22.8. GO YEN CHEMICAL INDUSTRIAL CO LTD (GYC Group) 22.9. Chang Chun Group 23. Assumptions and Acronyms Used 24. Research Methodology
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Poly(butylene Succinate) Market
