Asia-Pacific Polybutylene succinate Market Trends, Share, Industry Size, Growth 2019 to 2025

The Asia-Pacific PBS market is estimated to grow at a CAGR of over 11% during the forecast period. The PBS market is rapidly expanding in the Asia-Pacific region. The market is showing a dynamic growth specifically in the ASEAN countries including Thailand, Indonesia, Vietnam, and the Philippines. Moreover, as a result of urbanization, growing energy demands, climate change, and technological advancements, plastic manufacturers are focusing on adopting the latest technology in order to develop advanced biodegradable polyester resin such as PBS.

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Furthermore, the demand for PBS resin shares a synergic relationship with automotive production in the region. ASEAN countries are pegged to be a driver of the automotive industry in the Asia-Pacific region. Automotive production in the ASEAN countries has increased significantly from past years. This is expected to increase the demand for advanced polymers such as PBS for use in vehicle exterior and interior.

The Asia-Pacific PBS market is segmented on the basis of process and application. Based on the process, the market is segmented into trans-esterification and direct esterification. The direct esterification process had a significant share in the market in 2018. Direct esterification process is the most common process for preparing PBS and has several advantages such as the process that can be performed under atmospheric pressure and has a short reaction time. Whereas, the trans-esterification process is projected to grow at a considerable rate during the forecast period.

Further, PBS has been used in various industries such as packaging/disposables, agriculture, textile, automotive and others. The packaging industry has been significantly adopting biodegradable polymers. Moreover, China is a hotspot for development regarding consumer electronics products, owing to which it presents significant opportunities for the increase in demand for advanced materials such as PBS. India PBS market is projected to exhibit the fastest growth in the Asia-Pacific PBS market during the forecast period. Some of the players covered in the Asia-Pacific PBS market include Showa Denko KK, Anqing Hexing Chemical Co., Ltd., Ire Chemical Ltd., Jin Hui Zhao Long High-Tech Co., Ltd., and others.

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Asia-Pacific PBS Market Segmentation

By Process

  •         Trans-Esterification
  •         Direct Esterification

By Application

  •         Packaging/Disposables
  •         Agriculture
  •         Textile
  •         Automotive
  •         Others

Regional Analysis

  •         China
  •         Japan
  •         India
  •         Rest of Asia-Pacific

Company Profiles

  •         Anqing Hexing Chemical Co., Ltd.
  •         Ire Chemical Ltd.
  •         Jin Hui Zhao Long High-Tech Co., Ltd.
  •         Mitsubishi Chemical Corp.
  •         PTT Global Chemical Public Co. Ltd.
  •         Shandong Landian Biological Technology Co., Ltd.
  •         Showa Denko Kk
  •         SK Chemicals Co., Ltd.
  •         Yifan Pharmaceutical Co., Ltd.

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