Polybutylene succinate (PBS), also referred to as polytetramethylene succinate, is a biodegradable thermoplastic polyester resin synthesized by polycondensation of succinic acid with 1, 4 butanediol. Polybutylene succinate belongs to the family of biodegradable polymers, and is metabolized by microorganisms present in the ground. Moreover, Polybutylene succinate is characterized by mechanical properties that are comparable with those of widely used polymers such as polyethylene and polypropylene. The favorable properties coupled with ease of processing has resulted in emergence of a variety of application areas across diverse end use industries for Polybutylene succinate.
Polybutylene succinate Market: Drivers & Restraints
Polybutylene succinate is biodegradable polymer, as such, the growing demand for biodegradable polymers across the globe is expected to in turn result in a steady growth of global Polybutylene succinate market. Also, growing adoption in agricultural applications such as for mulch films is expected to set the pace for growth of Polybutylene succinate market. Furthermore, the growth in end use industries such as that in packaging industry is expected to bolster the growth of Polybutylene succinate market during the forecast period. The raw materials for Polybutylene succinate namely succinic acid and 1, 4 butanediol are produced from petroleum feedstock, as such, price of these is susceptible to fluctuations resulting from volatility of crude oil price. This is expected to act as an impediment to the growth of Polybutylene succinate market during the forecast period. However, a recent trend witnessed among Polybutylene succinate market is that efforts are channelized towards developing bio-based Polybutylene succinate from bio based 1, 4 butanediol and succinic acid.
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Polybutylene succinate Market: Segmentation
On the basis of end use industry, the global Polybutylene succinate market has been segmented into the following key market segments:
- Consumer goods
- Electronics and electrical
Polybutylene succinate Market: Region-wise Outlook
On the basis of geographic regions, global Polybutylene succinate market is segmented into seven key segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the regional segments, Asia Pacific Polybutylene succinate market is expected to register fastest growth during the forecast period. The global polybutylene succinate market is expected to witness a steady growth during the forecast period.
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Polybutylene succinate Market: Key Players
Some of the identified major participants of the global polybutylene succinate market are as follows:
- Mitsubishi Chemicals
- Showa Denko K.K
- PTT MCC Biochem Co., Ltd.
- IRe Chemical Ltd.
- Sinoven Biopolymers Inc.
- SK Chemical
- Kingfa Science & Technology Co.
- Anqing Hexing chemical Co., Ltd