Polybutylene Succinate Market Growth, COVID Impact, Trends Analysis Report Forecast to 2033
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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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.
Key Segments Profiled in the Polybutylene Succinate Market Industry Survey
Polybutylene Succinate Market by Type:
Bio-based
Petro-based
Polybutylene Succinate Market by Application:
Mulch Films
Packaging
Medicine
Polybutylene Succinate Market by Region:
North America Polybutylene Succinate Market
Latin America Polybutylene Succinate Market
Europe Polybutylene Succinate Market
Asia Pacific Polybutylene Succinate Market
Middle East & Africa Polybutylene Succinate Market
“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 ****yst at FMI
