Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Polybutylene Succinate Market size was over USD 450.99 million in 2024 and is anticipated to cross USD 4.57 billion by 2037, growing at more than 19.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of polybutylene succinate is estimated at USD 525.74 million.
The growth of the market can be attributed to its remarkable utilization in multiple industries such as, packaging, food and beverages, chemical, pharmaceutical, and others. For instance, the pharmaceutical industry amounted to almost USD 1 trillion in 2020. Additionally, the significant utilization of polybutylene succinate in the chemical industry is projected to hike the growth of the market during the forecast period. The value of the global chemical industry was estimated to be about USD 3,500 billion in 2021. Moreover, the growth of the market can also be ascribed to the rising paperboard packaging industry. For instance, the size of the industry of paperboard packaging is anticipated to reach approximately USD 200 billion during the forecast period. Furthermore, a significant surge in automotive production can be noticed in recent decades. Polybutylene succinate is utilized in automotive applications by combining with natural fibers such as, switch grass. For instance, approximately 65 million units of cars were sold out internationally in 2021, meanwhile, around 55 million units of passenger cars were manufactured across the globe in 2020. All these factors are projected to propel the growth of the market during the forecast period.
Polybutylene Succinate Sector: Growth Drivers and Challenges
Growth Drivers
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Significant Utilization in Various Industries, such as, Chemical and Pharmaceutical
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Growing Chemical Industry
Challenges
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High Cost of Polybutylene Succinate in the Market
Polybutylene Succinate Market: Key Insights
| Report Attribute | Details |
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
19.5% |
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Base Year Market Size (2024) |
USD 450.99 million |
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Forecast Year Market Size (2037) |
USD 4.57 billion |
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Regional Scope |
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Polybutylene Succinate Segmentation
The market is segmented by type into bio-based and conventional polybutylene succinate, out of which, the bio-based segment is anticipated to hold the notable share in the global polybutylene succinate market during the forecast period on account of its higher utilization in multiple industries and manufacturing of various products such as medical and tableware articles. Furthermore, rising awareness of utilizing bio-based products across the globe is estimated to hike the growth of the segment over the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Technology |
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By Application |
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By End-User Industry |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Polybutylene Succinate Industry - Regional Synopsis
Regionally, the global polybutylene succinate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2037, ascribed to exponentially rising demand for biodegradable products. Moreover, the growing utilization of polybutylene succinate in the interior automotive units is also anticipated to hike the growth of the market in the region. China has been anticipated to dominate the automotive industry over the forecast period. For instance, in 2021, approximately 20 million passenger cars were manufactured solely in China. Such factors are expected to foster the growth of the market in the region during the forecast period.
Furthermore, the global market is also anticipated to grow rapidly in the North America region on the back of similar factors, such as, increasing demand for polybutylene succinate-based products and the constantly developing automotive industry. Therefore, all these factors are projected to influence the growth of the market in the region positively throughout the forecast period.
Companies Dominating the Polybutylene Succinate Landscape
- Anqing Hexing Chemical Co., Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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
Recent Developments
- "May 12, 2022: Indorama Ventures announces the robust 1Q22 results by acquiring the record 1Q22 performance along with the recovery of the global economy after the pandemic.
- July 22, 2021: Lululemon to create fabric from the recycled carbon emissions and becomes the world’s first company in this field to do so.
Author Credits: Rajrani Baghel
- Report ID: 4150
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
