Polybutylene Succinate Market - Forecast(2021 - 2026)

 

Polybutylene Succinate Market Overview

Polybutylene Succinate Market is forecast to reach $110.3 million by 2026, after growing at a CAGR of 9.6% during 2021-2026. Polybutylene succinate (PBS) is a polyester-family thermoplastic polymer resin. Polybutylene succinate is highly heat resistant and highly compatible with fiber resins in the general biodegradability resin, owing to which it is extensively used in various end-use industries such as packaging, biomedical, agriculture, and more. The main growth drivers of the polybutylene succinate market are the increasing demand for biodegradable polymers globally, the growing agricultural sector, and the growing demand from the packaging industry. Besides, the growing popularity of bio-based polybutylene succinate is anticipated to create lucrative opportunities for the polybutylene succinate market during the forecast period. 

Due to the coronavirus (Covid-19) pandemic, numerous packaging plants, along with food and pharmaceutical plants across the nation were forced to be shut down, owing to the enforced lockdown. In addition, the nationwide lockdown has also resulted in a shrinking supply of raw materials, lack of workforce, logistic availability, and more, which is directly hindering the operation of the packaging, pharmaceutical, and food & beverages industry. And since polybutylene succinate are largely employed in the packaging, pharmaceutical, and food & beverages industry, the decreasing operation of these end-use industries is limiting the polybutylene succinate market growth during the covid-19 outbreak.

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Report Coverage

The report: “Polybutylene Succinate Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the polybutylene succinate industry. 

By Type: Conventional and Bio-Based

By Process: Trans-Esterification and Direct-Esterification

By Plastic Process: Extrusion, Injection Molding, Blow Molding, Thermoforming, Film Blowing, and Others

By Application: Mulch Film, Packaging Film, Plastic Bags, Flushable Hygiene Products, Coffee Capsules, Textile Fiber, Wood Plastic Composites, and Others 

By End-Use Industry: Packaging (Food Packaging, Cosmetic Packaging, Medical packaging, and Others), Textile (Casual, Sports, Industrial, and Others), Agriculture, Automotive (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others), Electrical & Electronics, and Others

By Geography: North-America, South-America, Europe, Asia Pacific, and RoW

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Key Takeaways

• Asia Pacific dominates the polybutylene succinate market, owing to the increasing agricultural investments by the governments in the region. NABARD announced a venture capital fund investment of Rs 700 crore (US$ 100 million) for equity investments in agriculture and rural start-ups in India in May 2019.
• Polybutylene succinate is a biodegradable polymer. And the demand for biodegradable polymers across the globe is growing, which is projected to boost the polybutylene succinate market growth during the forecast period.
• Due to the coronavirus outbreak, nearly all of the countries have gone under lockdown, due to which the operations of various industries such as agriculture and packaging are disruptively stopped, which is hampering the polybutylene succinate market growth.

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Polybutylene Succinate Market Segment Analysis - By Type

The conventional segment held a significant share in the polybutylene succinate market in 2020 and is expected to grow with a CAGR of 7.1% during the forecast timeframe, owing to the low cost of conventional polybutylene succinate when compared with its bio-based counterpart. However, the bio-based polybutylene succinate segment also holds a prominent share in the market. In the particular case of composite formulations, the higher cost of the polymers can be lowered with the addition of inexpensive fillers. Fillers also allow the modification or improvement of the thermal properties and mechanical properties of the polymer matrices, in addition to reducing costs. Furthermore, the addition of bio-based fillers results in the production of bio-based or compostable materials. Due to these advantages, a variety of different natural fillers have been used to create green composites, owing to which the demand for bio-based polybutylene succinate is projected to increase during the forecast period.

Polybutylene Succinate Market Segment Analysis - By Process

The trans-esterification segment held a significant share in the polybutylene succinate market in 2020. PBS is produced through direct esterification in open and closed systems, in the presence and absence of nitrogen, using two different monomers (succinic acid and anhydride). PBS is also produced through trans-esterification at different temperatures and using different metal catalysts. They are then characterized by gel permeation chromatography, nuclear magnetic resonance, fourier transform infrared spectroscopy, polymer melt rheology, and more. Based on the obtained results, it is projected that the best set of final properties is obtained when PBS is produced through trans-esterification as it provides polybutylene succinate with balanced mechanical properties, excellent biodegradability, and thermoplastic processability.

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