Additionally, polybutylene succinate is widely used in the packaging, pharmaceutical, and food and beverage industries, fueling market expansion throughout the projection period.
A recently published study by FMI expects the global polybutylene succinate market to augment at a 14.9% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 1,500 Million is expected for the market. Growth is driven by growing demands for the polybutylene succinate market, particularly across end-use sectors such as biomedical, packaging, and agricultural.
The rising need for novel packaging, particularly for attracting a large number of customers, is expected to be a significant driver driving the polybutylene succinate market’s quick expansion. Furthermore, the growing need for lightweight car components is likely to boost the demand in the Polybutylene Succinate Market.
China is expected to be the most profitable market for Polybutylene Succinate. The need for interior automotive items in the country is predicted to increase significantly in the next years, with primary demand coming from the Asia Pacific area.
During the projected period, the growing need for lightweight automotive components is likely to drive the growth of the Polybutylene Succinate market. In conclusion, the expanding plastics sector is expected to propel the overall PBS market.
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Key Takeaways from the Market Study
“North America is expected to expand profitably between 2022 and 2029 as a result of the region’s stricter laws on single-use plastic items. Furthermore, increased demand for traditional PBS in reusable items drives regional market growth,” says an analyst at FMI
Market Competition
Key players in the polybutylene succinate market are PTT MCC Biochem Co., Ltd., Anhui Sealong Biotechnology Co., Ltd., Vizag Chemicals, Shandong Fuwin New Material Co., Ltd., Shandong LanDian Biological Technology Co., LTD., Xinjiang Blue Ridge Tunhe Sci. &Tech. Co., Ltd. and Shangdong Life Chemical Co., Ltd.
Recent Developments:
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global polybutylene succinate market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on Type (Bio-based, Petro-based), by Application (Mulch Films, Packaging, Medicine) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Profiled in the Polybutylene Succinate Market Industry Survey
Polybutylene Succinate Market by Type:
Polybutylene Succinate Market by Application:
Polybutylene Succinate Market by Region:
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Jun 20, 2023