PBSA Market Size, Share, Growth, and Industry Growth by Type (Biodegradable PBSA and Compostable PBSA) By Application (Packaging, Agriculture, and Others), Regional Forecast To 2031

Updated On: 20 November 2023

PBSA Market REPORT OVERVIEW

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The global PBSA market size was USD 38 million in 2021 and market is projected to touch USD 109.71 million by 2031, exhibiting at a CAGR of 11.1% during the forecast period.

PBSA is Poly (butylene succinate-co-butylene adipate). It is a biodegradable and semi-crystalline polyester. It is a very attractive biopolymer because of its service temperatures and mechanical properties. The biodegradable is a new biopolymers and it is cost-effective. It is better alternative to other biopolymers such as PBAT, PLA, and PHB.

Increasing demand for food packing materials in food & beverage industry is estimated to accelerate market growth. Growing expansion of food and beverage sector is expected to propel product adoption. Increasing demand from agriculture and automobile is anticipated to accelerate market growth. Improving living standards of people globally is predicted to surge market growth during the forecast period. Rising disposable income and growing demand from packing industry is projected to drive market growth. Increasing demand for the product from electronics and construction sectors is predicted to fuel market growth. Rapid industrialization and urbanization is projected to drive market growth. Government initiatives for eco-friendly packing is anticipated to accelerate product demand.

COVID-19 Impact: Lockdown Restrictions to Reduce Production Facilities of PBSA Market

Lockdown restrictions and social distance protocols impacted production facilities of the product. Government restrictions and unavailability of workers during the pandemic reduced product demand. Lack of raw materials due to border closer declined product adoption. Further, fluctuation of raw materials prices hated product demand among consumers. Decreasing demand from food and beverage industry impacted market growth during pandemic.

On the contrary, post COVID-19, the market is expected to witness strong growth due to increasing demand from packing sector. Growing need for packing foods globally is estimated to accelerate market growth. Higher demand for safe and hygiene packing is anticipated to accelerate market growth.  Leading market players are adopting strategies to boost market growth.

LATEST TRENDS

"Extensive Growth in Food and Beverage Industry to Foster Market Growth"

Growing expansion of food and beverage industry is expected to accelerate market growth. Increasing need for food packing is predicted to fuel market growth. Rising trend for packed and frozen food is estimated to propel product demand. Growing demand for safe packing in food and beverage industry is projected to drive market growth. Increasing awareness about recycling waste products is predicted to surge market growth during the forecast period. Rising awareness about product benefits among consumer is projected to drive market growth. Growing concern about eco-friendly packaging is predicted to fuel PBSA market growth during the forecast period.

PBSA Market SEGMENTATION

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• By Type

Based on type, the market is divided into biodegradable PBSA and compostable PBSA.

Biodegradable PBSA is expected to be the leading part of segmentation type.

• By Application

Based on the application, the market is divided into packaging, agriculture, and others.

Packaging is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Government Initiatives to Stimulate Market Growth  "

Increasing government initiatives to minimize environmental pollution is estimated to surge market growth. The product can decompose naturally in the environment. Such advantages of the product are expected to accelerate market growth during the forecast period. Increasing demand for eco-friendly packing is predicted to surge product adoption. The product is commonly made of corn, oil, orange peels, soybeans, switch grass, starch, or micro-organisms. Such composition of the material can be breakdown or degrade easily is anticipated to accelerate market growth during the forecast period. Using this plastic will reduce carbon dioxide levels. This benefit of the product is predicted to propel market growth. Adoption of the product will reduce the emission of greenhouse gas levels is projected to boost PBSA market growth.

"Increasing Demand for Safe and Hygiene Packing to Propel Market Growth  "

Growing need for stable, flexible, and strong packing solutions is expected to surge market growth. Rising demand for safe packing among consumers is estimated to accelerate market growth. The product is extensively used in food & beverage industry and agriculture sector is predicted to accelerate market growth. Growing development in biodegradable and chemical industry is estimated to propel PBSA market growth during the forecast period. Rapid industrialization and urbanization are projected to drive market growth. Increasing research and development activities for innovating new plastics is anticipated to fuel product adoption.

RESTRAINING FACTORS

"Limited Production and Fluctuations in Raw Material Prices to Hamper Market Growth  "

Limited number of production and manufacturing of the product are expected to reduce market growth. Further, fluctuations in raw material prices are predicted to restrict market growth during the forecast period.

PBSA Market REGIONAL INSIGHTS

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"Growth in Food and Beverage Industry in Asia Pacific to Drive Market Share "

Asia Pacific is estimated to dominate PBSA market share due to increasing demand for food and beverage industry. Increasing number of population demand for food in the region is projected to drive market growth. Growing demand for strong packing material is expected to fuel market growth. Increasing government initiatives foe eco-friendly packing is predicted to surge market growth during the forecast period. Rapid industrialization and urbanization is anticipated to accelerate product demand. Presence of major market players in the region is estimated to fuel market growth.

Europe is expected to show considerable market growth due to increasing demand for safe packing. High adoption of packing foods in the region is projected to boost product demand. Increasing need for fast-food sector is predicted to propel market growth. Growing expansion in food & beverage market is anticipated to boost product adoption.

North America is estimated to show significant market growth due to increasing need for safe packing. Growing government initiatives for eco-friendly and easy to decompose plastics is projected to drive market growth. Growing disposable income and need for packed food items in the region is estimated to surge market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Kingfa (China)
• Sinopec (China)

INDUSTRIAL DEVELOPMENT

January 2019: K portal invited Sukanof in the trade show of plastics and rubber. This visiting expanded sales during the expo.

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.