USD 330.97 million
PBSA Market Size, Share, Growth Analysis, By Type(Biodegradable, Compostable), By Application(Packaging, Agriculture, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2330 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
80
PBSA Market Insights
Global PBSA Market size was valued at USD 330.97 million in 2022 and is poised to grow from USD 396.17 million in 2023 to USD 1669.69 million by 2031, growing at a CAGR of 19.7% during the forecast period (2024-2031).
The Global Polybutylene Succinate Adipate (PBSA) market has been steadily expanding due to its eco-friendly properties and versatile applications across various industries. PBSA is a biodegradable and bio-based polymer that offers an alternative to conventional plastics, making it an attractive choice for sustainable product development. With growing concerns over plastic pollution and environmental impact, PBSA has gained traction as a viable solution. Its biodegradability ensures that products made from PBSA break down naturally over time, reducing the burden of plastic waste on ecosystems. This characteristic has led to its adoption in packaging, disposable items, agricultural films, and other single-use applications. Additionally, PBSA's versatility extends its presence to textiles, where it is utilized in apparel and fabrics, taking advantage of its comfortable feel and biodegradability. The automotive and electronics sectors are also exploring PBSA as a potential material for components and casings due to its combination of durability and sustainable features. The market's growth is further supported by increasing investments in research and development to enhance the material's properties and processing methods.
US PBSA Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Biodegradable
Fastest Growth
Biodegradable
Growth Rate
19.7% CAGR
Global PBSA Market ($ Mn)
Country Share for Asia Pacific Region (%)
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PBSA Market Segmental Analysis
The Global PBSA Market is segmented on the basis of Type, Application, and region. By Type, the market is segmented into Biodegradable, Compostable. By Application, the market is segmented into Packaging, Agriculture, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
PBSA Market Analysis By Type
In the Global PBSA Market, the biodegradable packaging segment held the dominant position in 2023. Biodegradable packaging refers to materials that can naturally break down and decompose into natural elements under specific conditions, usually within a few months to a year. These materials are designed to reduce their environmental impact by minimizing the persistence of waste. Biodegradable packaging can be made from various sources, including plant-based materials like cornstarch, sugarcane, and potato starch, as well as bioplastics.
On the other hand, Compostable packaging is expected to be the fastest-growing segment. Compostable packaging takes the concept of biodegradability a step further. Compostable materials break down into nutrient-rich compost that can be used to enrich soil and support plant growth. These materials typically break down faster than biodegradable ones and require specific composting conditions to fully degrade. Compostable packaging is often used for items like food waste and organic materials.
PBSA Market Analysis By Application
Packaging is likely to be one of the dominant segments in the global PBSA market. PBSA is a biodegradable and compostable polymer that has gained attention as an environmentally friendly alternative to conventional plastics in packaging applications. As concerns about plastic waste and environmental impact grow, industries are seeking more sustainable materials for packaging purposes. PBSA's properties, including its biodegradability and compostability, make it a favorable choice for various packaging products, such as food containers, disposable cutlery, bags, and films.
On the other hand, the agriculture sector is anticipated to be one of the fastest-growing segments in the PBSA market. PBSA's properties, including its biodegradability and compatibility with soil, make it suitable for various agricultural applications. PBSA-based products can be used as mulch films, which are laid on the soil surface to enhance crop growth and control weeds. These films eventually biodegrade, eliminating the need for their removal and reducing environmental impact. As sustainable agricultural practices gain importance, the demand for biodegradable materials like PBSA in this sector is likely to increase.
Global PBSA Market By Type
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PBSA Market Regional Insights
The global PBSA Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia-Pacific region often plays a dominant role in the chemical industry due to the presence of large manufacturing economies and demand for various products. Countries like China, Japan, and South Korea have significant chemical production capabilities and consumption. This region could have been a dominant market for PBSA due to its industrial capacity and potential applications in packaging, textiles, and more.
As for the fastest growing segment, Europe has been focusing on sustainability and environmentally friendly solutions. With biodegradable polymers gaining attention due to environmental concerns and regulations, Europe could have been one of the fastest-growing regions for PBSA. The region's emphasis on reducing plastic waste and promoting green technologies might have contributed to the adoption of PBSA in various industries.
Global PBSA Market By Region
- Largest
- Fastest
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PBSA Market Dynamics
PBSA Market Drivers
Growing Demand for Sustainable Alternatives:
- With increasing environmental concerns and a push for more sustainable materials, there has been a growing demand for biodegradable and bio-based polymers like PBSA. PBSA's ability to degrade naturally and reduce the reliance on fossil fuels has made it an attractive option for various industries looking to adopt more eco-friendly solutions.
Regulatory Support and Policies:
- Many regions and countries have implemented regulations and policies that promote the use of biodegradable materials to reduce plastic waste and environmental impact. These regulations can drive the adoption of PBSA in packaging, textiles, and other applications, as companies seek to comply with environmental standards.
PBSA Market Restraints
Cost Considerations:
- Biodegradable and bio-based polymers often have higher production costs compared to traditional plastics derived from petrochemicals. This cost difference can be a significant restraint for industries looking to switch to PBSA, especially in price-sensitive markets.
Limited Availability and Infrastructure:
- The production capacity for PBSA and the infrastructure to handle its waste and recycling might not be as well-developed as that for conventional plastics. This limitation could hinder the widespread adoption of PBSA, as industries need assurance of consistent supply and proper disposal methods.
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PBSA Market Competitive Landscape
The global PBSA Market’s competitive landscape features a competitive landscape characterized by diverse players striving for market prominence. Established chemical corporations, including BASF and Mitsubishi Chemical Holdings, leverage their extensive R&D capabilities and global reach to maintain strong footholds. Meanwhile, innovative entrants like Kingfa Sci & Tech and JinHui ZhaoLong High Technology, are gaining traction with eco-friendly PBSA solutions, capitalizing on increasing demand for sustainable materials. Collaborations and strategic partnerships are prominent, fostering technology exchange and widening market penetration. As regulations tighten around single-use plastics, the PBSA market is anticipated to witness intensified competition, driven by innovations in biodegradable materials, production techniques, and end-use applications. Overall, the market's competitive landscape is evolving as key players balance their industrial expertise with sustainable, forward-looking solutions to meet growing environmental and industrial demands.
PBSA Market Top Player’s Company Profile
- Mitsubishi Chemical Corporation - Japan
- BASF SE - Germany
- NatureWorks LLC - United States
- Corbion N.V. - Netherlands
- Novamont S.p.A. - Italy
- Total Corbion PLA - Netherlands
- Plantic Technologies Limited - Australia
- Braskem S.A. - Brazil
- Danimer Scientific - United States
- Biome Bioplastics Ltd. - United Kingdom
- Arkema S.A. - France
- Teijin Limited - Japan
- Showa Denko K.K. - Japan
- Sulzer Ltd. - Switzerland
- Biomer - Germany
- SFK LEBLANC - Canada
- API S.p.A. - Italy
- FKuR Kunststoff GmbH - Germany
- Cardia Bioplastics Limited - Australia
- Ecospan LLC - United States
- Futerro - Belgium
- Blue Ridge Industries, Inc. - United States
- FKuR Plastics Corp. - United States
- Kaneka Corporation - Japan
- Innovia Films Limited - United Kingdom
PBSA Market Recent Developments
- In April 2023, Mitsubishi Chemical Corporation announced the commercialization of its new PBSA resin, "Ecovio™ A1000". Ecovio™ A1000 is a high-performance PBSA resin that is designed for use in demanding applications, such as food packaging and automotive components.
- In May 2023, Anqing Hexing Biomaterials Co., Ltd. announced the start of commercial production of its PBSA resin. Anqing Hexing is a leading producer of PBSA in China.
- In June 2023, Sealong Biotechnology Co., Ltd. announced the development of a new PBSA resin that is biodegradable in seawater. This new resin is designed for use in marine applications, such as aquaculture and marine debris cleanup.
- In July 2023, NatureWorks LLC announced the launch of its new Ingeo™ Biopolymer 4002D PBSA resin. Ingeo™ Biopolymer 4002D is a high-clarity PBSA resin that is designed for use in food packaging and other applications that require transparency.
PBSA Key Market Trends
- Increasing Demand for Sustainable Packaging: PBSA is gaining traction as a sustainable alternative to traditional plastics in packaging applications. With growing environmental concerns and regulations aimed at reducing plastic waste, many companies are exploring biodegradable and compostable materials for packaging solutions. PBSA's biodegradability and compostability make it a promising option for single-use plastics replacement, particularly in industries such as food and beverage, where packaging waste is a significant concern.
- Focus on Circular Economy and Bioplastics: The push towards a circular economy, where resources are used efficiently and waste is minimized, has driven interest in bioplastics like PBSA. Bioplastics can play a role in reducing the reliance on fossil fuels and mitigating the environmental impact of traditional plastics. PBSA aligns with this trend due to its renewable and biodegradable nature. As more industries and governments emphasize sustainable practices, the demand for bioplastics like PBSA is expected to increase.
PBSA Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global PBSA market analysis, the market witnessed steady growth. PBSA, a bio-based and biodegradable polymer, gained traction due to its eco-friendly properties and versatile applications in packaging, textiles, and automotive sectors. The increasing emphasis on sustainable materials drove demand for PBSA, especially as a replacement for traditional plastics. Asia-Pacific dominated the market, led by China and Japan, owing to their robust manufacturing sectors and adoption of green technologies. Europe and North America also contributed significantly, driven by stringent environmental regulations and consumer preferences for eco-conscious products. Market players focused on research and development to enhance PBSA's performance and reduce production costs, further boosting its adoption. Collaborations and partnerships within the value chain were observed as companies aimed to capitalize on the growing demand. However, challenges included limited production capacity and competition from other bioplastics. The market's future hinges on scaling up production, expanding application areas, and maintaining cost competitiveness. As sustainability remains a key global concern, PBSA holds the potential to be a pivotal player in the shift towards more environmentally friendly materials.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 330.97 million |
| Market size value in 2031 | USD 1669.69 million |
| Growth Rate | 19.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on PBSA Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on PBSA Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the PBSA Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the PBSA Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the PBSA Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the PBSA Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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