Polybutylene Succinate (PBS) is a thermoplastic polymer resin of the polyester family. It is a biopolymer produced from the condensation of succinic acid and 1-4 butanediol (BDO), which gives plastic producers a building block for biopolymer compound. PBS is a biodegradable aliphatic polyester with properties similar to polypropylene. It is listed among the 12 most promising chemical bio-based building blocks for the future by the U.S. Department of Energy., It can be employed in a wide range of end-user applications via conventional processing techniques such as extrusion, injection or blown process, due to its superior mechanical properties and processability. It is emerging as a substitute for polypropylene (PP) and polyethylene terephthalate (PET). It can replace polyolefin and polystyrenes in some applications, and can replace polylactic acid (PLA) in several applications.
PBS is utilized in end-user products such as mulch film, packaging film, bags, flushable hygiene products, fishing nets, coffee capsules, wood plastic composites, and composites with natural fibers. It garnered significant interest from the packaging industry for substituting non-biodegradable polyethylene (PE), polypropylene (PP), and polystyrene (PS) plastics. PBS is an excellent biopolymer that shows high flexibility, heat résistance, and great biodegradability. It has high biomass utilization efficiency (BUE), as compared to other bio-based building blocks. Its performance can be tuned for specific applications by blending it with other polymers. A new initiative at the World Economic Forum, called New Plastic economy, is encouraging the usage of biopolymers such as PBS. Several chemical manufacturing companies are shifting their production to bio-based PBS from petrochemical-based PBS. PBS is currently being employed in a wide range of industries such as packaging, agriculture, pharmaceutical, consumer goods, electronics and electricals, textile, automotive and interiors. It is also utilized to produce bowls, plates, plastic utensils, and diapers.
In terms of manufacturing process, the polybutylene succinate market can be segregated into extrusion, injection molding, blow molding, thermoforming, film blowing, and fiber spinning. Extrusion is used for the production of food trays, carts, and similar items. Blow molding is employed for the production of shampoo bottles, drug bottles, cosmetic bottles, and beverage bottles. Fiber spinning is utilized for the production of clothes, nets, and planting tapes. Thermoforming is used for the production of containers with less complicated features. Injection molding process is employed for the production of cutlery, brushes, and containers.
In terms of application, the polybutylene succinate PBS market is segmented into packaging, building, transportation, textile, agriculture, pharmaceutical, houseware, and electronics and electrical. Packaging and agriculture are the major application segments for the PBS market. The packaging segment is anticipated to hold a prominent share of the market during the forecast period. Agriculture is estimated to follow the packaging segment, in terms of revenue, by the end of the forecast period.
In terms of geography, the polybutylene succinate PBS market can be segmented into North America, Europe, Latin America, Asia Pacific and, Middle East and Africa (MENA). The market North America is expanding rapidly due to the wide range of applications of PBS. Asia pacific market is estimated to dominate the PBS market during the forecast period due to high economic growth in the region. New manufacturing plants with high capacity are being set up in the region. Latin America is anticipated to follow Asia Pacific in term of growth rate during the forecast period due to new manufacturing facilities and favorable government regulation in the region.
Key players operating in the polybutylene succinate PBS market are PTT MCC Biochem Co., Ltd., Succinity GmbH, Reverdia, Eastman Chemical Company, Showa Denko K.K., BioAmber Inc., DowDuPont, and Hexing Chemical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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