In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Polybutylene Succinate (PBS) is also known as polytetramethylene succinate. It is biodegradable thermoplastic polymer resin of the polyester family. Polybutylene Succinate produced by the polycondensation of the succinic acid with 1, 4 butanediol monomers. PBS possesses the properties similar properties to that of Propylene. Polybutylene succinate remains stable even at high temperature to which It has several application in various segments such electrical & electronics, automotive, fiber, textile, packaging, making of non-woven and others. And it is widely used in Food Packaging industries.
Global Polybutylene Succinate market is expected to grow at highest CAGR in upcoming years. The rising demand of the innovative packaging specially for attracting large number of consumers is anticipated to be dynamic factor for the rapid growth of the Polybutylene Succinate Market over the forecast period. Increasing demand of light weight automobile component is also expected to positively impact the growth of the Polybutylene Succinate Market. There is latest increase in the demand for the polybutylene succinate to produce the important electrical and electronic components. The growing plastic industry is expected to foster the overall demand for polybutylene succinate during the forecast period.
In the regional market Europe is the leading manufacturer of PBS and is projected to dominate the overall soft magnetic composite market during the forecast period. Polybutylene Succinate is used for making interior of the automobile. The growing demand of the attractive automotive interior is predicted to trigger the growth of the Polybutylene Succinate market in near future. Further North America is expected to contribute significantly towards the growth of the Polybutylene Succinate market . The market is mainly expanding on the back of the growth and expansion of Packaging industry and Plastic industries in this region. Asia Pacific is also expected to grow at a significant pace in the upcoming period.
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Based on type Polybutylene Succinate is segmented into Automotive, Electrical & Electrical, Packaging, Textile, Others out of which Packaging is accounted for the largest market share in overall soft Polybutylene Succinate market over the forecast period.
Our in-depth analysis has segmented global Polybutylene Succinate market into the following segments:
Global Polybutylene Succinate market is further classified on the basis of region as follows:
Polybutylene Succinate is majorly used for the packaging of food and pharmaceutical product. Rising demand of the smart packaging for the customer is one of the key factor fueling the demand of the Polybutylene Succinate globally. Advancement & Research activities in Packaging are anticipated to intensify the growth of the Polybutylene Succinate market across the globe.
Moreover, rising demand of the light weight component of the automobile is anticipated to drive the growth of the Polybutylene Succinate market. PBS is also used in agriculture in the form of much film and is expected to trigger the growth of the Polybutylene Succinate market. . Moreover, government initiatives and wide policies towards the Polybutylene Succinate product is expected to positively impact the growth of the polymer conductive coating market during the forecast period. . These market activities are believed to open a gateway of opportunities for the companies entering into the business of Polybutylene Succinate Market.
However, succinic acid and 1, 4 butanediol are the monomers of Polybutylene Succinate which are produced by the petroleum feed stock. Fluctuation cost of monomers is expected to anticipate restraining the development of the global Polybutylene Succinate Market over the forecast period.