(MENAFN- America News Hour) Research Nester published a report titled
“ Polybutylene Succinate
Market: Global Demand Analysis & Opportunity Outlook 2031 ”
which delivers a detailed overview of the global polybutylene succinate market in terms of market segmentation by type, technology, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global
polybutylene succinate market
is projected to grow at a CAGR of ~8% by attaining a noteworthy revenue during the forecast period, i.e., 2022 – 2031. Factors such as, the rising utilization of polybutylene in various industries, for instance, chemical, pharmaceutical, packaging, and others are anticipated to propel the growth of the market during the forecast period.
As of 2020, the value of the pharmaceutical industry was estimated to be USD 1 trillion.
Such factors are projected to propel the growth of the market over the forecast period.
Additionally, by type, the global
polybutylene succinate market
is segmented into bio-based and conventional polybutylene succinate. Out of these sub-segments, the bio-based segment is estimated to obtain anotable share in the market during the forecast period. The growth of the segment can be accounted to its rising utilization in the manufacturing of multiple products, for instance, tableware and medical equipment.
Furthermore, the global polybutylene succinate market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market inthe Asia Pacific region is estimated to grow at a modest pace over the forecast period on the back of the significant growth in the automotive industry.
As of 2021, about 20 million passenger cars were produced in China. All these factors are anticipated to influence the growth of the market in the Asia Pacific positively during the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Escalating Utilization in the Packaging Industry to Foster the Growth of the Market
In 2021, the food packaging industry was valued at approximately USD 300 billion which is further anticipated to reach about USD 450 billion during the forecast period.
Polybutylene succinates are considered extensively usable in the food packaging industry on account of their remarkable gas barrier properties.
Polybutylene succinates referred to as biodegradable polymer, a class of polymer that is known to be destroyed after serving its purpose. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, the shortage of polybutylene succinate in the market is expected to operate as a key restraint to the growth of the global polybutylene succinate market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global polybutylene succinate market which includes company profiling ofAnqing Hexing Chemical Co., Ltd., Indorama Ventures Public Company Limited, Hangzhou Ruijiang Chemical Co., IKV Tribology Ltd, Far Eastern New Century Corporation, Setral Chemie GmbH, BASF SE, ECCO Gleittechnik GmbH,
Zhejiang Biodegradable Advanced Materials Co., Ltd., WILLEAP. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global polybutylene succinate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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