Polybutylene Succinate Market - By Type (Bio-based, Petroleum based), By Synthesis Method (Trans-esterification process, Direct esterification process), By Application (Packaging, Agriculture, Medical, Textile) & Forecast, 2024 – 2032

Polybutylene Succinate Market Size

Polybutylene Succinate Market was valued at around USD 115 million in 2023 and is anticipated to register a CAGR of over 12.2% between 2024 and 2032.
 

The industry is witnessing significant growth attributed to its versatile applications and environmental benefits. PBS, a biodegradable polymer derived from succinic acid and 1,4-butanediol, is gaining traction as a sustainable alternative to traditional plastics. Its biodegradability and compostability make it an attractive choice for various industries, including packaging, textiles, and automotive sectors. The increasing focus on reducing plastic waste and carbon footprint is driving the demand for PBS-based products. Moreover, government regulations promoting eco-friendly materials further propel market growth. Thus, the polybutylene succinate market growth is expected to attain a market value of over USD 324 million by 2032.
 

The packaging industry represents a substantial segment for PBS applications, particularly in food packaging, where the demand for sustainable materials is high. PBS offers excellent barrier properties and compatibility with existing packaging machinery, making it an ideal choice for manufacturers looking to adopt greener practices. Additionally, the textile industry is embracing PBS for producing fibers and fabrics, capitalizing on its biodegradable nature and potential for reducing environmental impact.

Furthermore, the automotive sector is incorporating PBS in interior components and exterior parts due to its lightweight, durable, and eco-friendly characteristics. As the automotive industry continues to prioritize sustainability and fuel efficiency, the adoption of PBS is expected to surge.
 

One significant challenge facing the polybutylene succinate (PBS) market is its high production costs compared to conventional plastics. While PBS offers numerous environmental advantages, including biodegradability and reduced carbon footprint, the cost of manufacturing remains a significant barrier to widespread adoption. The production process of PBS involves the synthesis of succinic acid and 1,4-butanediol, which are typically derived from bio-based or petrochemical sources. Both raw materials often incur higher costs compared to those used in the production of traditional plastics, such as polyethylene or polypropylene. Additionally, the manufacturing technology for PBS is still evolving, leading to higher capital investment requirements and operating expenses. These elevated production costs translate into higher prices for PBS-based products, making them less competitive in markets driven primarily by cost considerations.
 

Polybutylene Succinate Market Trends

One prominent trend is the increasing adoption of PBS as a viable alternative to traditional plastics, driven by its biodegradable nature and reduced carbon footprint. With mounting concerns over plastic pollution and climate change, industries are seeking eco-friendly solutions, propelling the demand for PBS-based products. The packaging sector, in particular, is experiencing a significant shift towards sustainable materials, with PBS offering excellent barrier properties and compatibility with existing packaging machinery. Moreover, stringent government regulations mandating the use of biodegradable materials further accelerate market growth, fostering a conducive regulatory environment for PBS adoption.
 

Another notable trend is the expansion of PBS applications beyond packaging, into industries such as textiles, automotive, and electronics. In textiles, PBS is increasingly utilized for producing fibers and fabrics, capitalizing on its biodegradability and versatility. Similarly, the automotive sector is incorporating PBS in interior components and exterior parts to reduce vehicle weight and environmental impact. Additionally, technological advancements in PBS production processes are enhancing efficiency and lowering costs, making PBS more competitive with traditional plastics. However, challenges such as high production costs and limited commercial availability still pose hurdles to market expansion.
 

Polybutylene Succinate Market Analysis

Based on type, the market is divided into bio-based and petroleum based. Bio-based polybutylene succinate held the dominant market share of USD 65.35 million in 2023 and is expected to reach over USD 179 million by 2032. Bio-based PBS, derived from renewable biomass sources such as sugarcane or corn, represents a growing segment driven by the increasing demand for sustainable materials. Its eco-friendly nature appeals to environmentally conscious consumers and industries seeking to reduce their carbon footprint.
 

As a result, bio-based PBS is gaining traction in applications where biodegradability and compostability are paramount, such as packaging and textiles. On the other hand, petroleum-based PBS, synthesized from petrochemical feedstocks, maintains a significant market share due to its established production infrastructure and lower production costs compared to bio-based alternatives. Despite concerns over its environmental impact, petroleum-based PBS still serves as a viable option for industries less focused on sustainability or facing cost constraints.
 

Based on synthesis method, the market is categorized into trans-esterification process and direct esterification process. Trans-esterification process accounted for over 68% market share in 2023 and is projected to grow through 2032. The trans-esterification process holds a larger market share due to its established industrial application and efficiency in producing high-quality PBS. This method is widely adopted by manufacturers for its scalability, reliability, and ability to yield consistent product quality. Additionally, the trans-esterification process offers versatility in modifying PBS properties through copolymerization with other monomers, expanding its range of applications across various industries including packaging, textiles, and automotive.
 

Based on application, the market is categorized into packaging, agriculture, medical, textile and other. Packaging accounted for major market share in 2023 and is projected to grow through 2032. Packaging emerges as the dominant segment, holding the largest market share due to the widespread adoption of PBS in various packaging applications. PBS offers excellent barrier properties, compatibility with existing packaging machinery, and biodegradability, making it an attractive choice for environmentally friendly packaging solutions across industries such as food and beverage, consumer goods, and pharmaceuticals. Following packaging, the agriculture sector represents a significant market share for PBS applications, primarily driven by the demand for biodegradable mulch films, plant pots, and agricultural nets. PBS's biodegradability and compostability align with sustainable farming practices, contributing to its popularity in agriculture.
 

Asia Pacific dominated the global polybutylene succinate market in 2023. It generated a revenue of USD 44.1 million in 2023. Packaging emerges as the dominant segment, holding a significant market share due to the region's burgeoning population, rapid urbanization, and growing consumer demand for sustainable packaging solutions. Countries like China and India, with their vast consumer markets and increasing focus on environmental sustainability, drive substantial growth in PBS adoption for packaging applications.
 

Following packaging, the textile industry represents another significant market share for PBS applications in the Asia Pacific region. Countries like China, India, and Bangladesh are major textile manufacturing hubs, driving demand for eco-friendly fibers and fabrics produced from PBS. Additionally, the agricultural sector showcases notable growth, particularly in countries with large agricultural economies such as India and Indonesia, where PBS finds applications in biodegradable mulch films and agricultural packaging materials.
 

Polybutylene Succinate Market Share

In the competitive landscape of the market, several key players vie for market share, each bringing unique strengths and capabilities to the forefront. Mitsubishi Chemical Group stands out as a prominent player, leveraging its extensive research and development infrastructure to innovate and produce high-quality PBS products. Similarly, Hengli Group, with its robust manufacturing capabilities and broad product portfolio, competes aggressively in the market, particularly in the Asia Pacific region where it enjoys a strong foothold.
 

Anhui Sealong Biotechnology Co., Ltd. and Shandong Landian Biological Technology Co., Ltd. are notable contenders, specializing in bio-based PBS production, capitalizing on the growing demand for sustainable materials. GYC Group and Chang Chun Group also command significant market presence, offering diverse PBS formulations tailored to specific industry requirements.
 

In the realm of packaging, Grounded Packaging emerges as a key player, known for its innovative sustainable packaging solutions leveraging PBS. Vizag Chemicals, Reverdia, and Roquette are renowned for their bio-based PBS offerings, catering to industries prioritizing environmental sustainability. Additionally, Waycoo Chem is a notable competitor, focusing on technological advancements and cost-effective production methods to enhance market competitiveness.
 

Polybutylene Succinate Market Companies

Major players operating in the market include:

• Anhui Sealong Biotechnology Co., Ltd.
• Chang Chun Group
• Grounded Packaging
• GYC Group
• Hengli Group
• Mitsubishi Chemical Group
• Reverdia
• Roquette
• Shandong Landian Biological Technology Co., Ltd.
• Vizag Chemicals
• Waycoo Chem
   

Polybutylene Succinate Industry News

• In September 2022, Technip Energies, a French engineering and technology company, expanded its sustainable chemicals portfolio by acquiring DSM’s biosuccinium technology. This acquisition positions Technip as the sole licensee for producing bio-based succinic acid, a crucial feedstock for polybutylene succinate (PBS) manufacturing. The purchase encompasses various patent families and proprietary yeast strains proven effective in large-scale production facilities.
   

The Polybutylene Succinate market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Type

• Bio-based
• Petroleum based

Market, By Synthesis Method

• Trans-esterification process
• Direct esterification process

Market, By Application

• Packaging
• Agriculture
• Medical
• Textile
• Other

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA