The China PBS market is estimated to grow at a CAGR of more than 11.5% during the forecast period. PBS is a biodegradable and compostable polyester that is produced from succinic acid 1,4-butanediol and eventually a third monomer which is an organic di-acid in most cases. It finds application in numerous applications including food packaging, consumer goods and electronics, and automotive structural manufacturing. According to the China Petroleum and Chemical Industry Federation (CPCIF), China’s petroleum and chemical industry generated a revenue of trillion in 2017. The consistent growth of the Chinese chemical industry is key to the stability of the Chinese economy in the near future. Moreover, China is rapidly expanding its chemical parks; this significantly increases the investment in the chemical industry in China, thereby creating opportunities for the growth of the market in the future.
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Moreover, the increasing popularity of packaged on-the-go food items has further increased the level of consumption of convenience food in the country. This is expected to significantly increase the demand for PBS for application in the packaging of food products, thereby promoting the growth of the market in the future years. Furthermore, the Chinese economy is becoming an R&D-intensive economy which is the major factor for the growth of the pharmaceutical industry in China. PBS can be used for packaging applications in pharmaceutical industries. As the packaging industry augments in China it is expected to increase the demand for PBS for packaging applications.
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The China PBS market is segmented on the basis of process and application. Based on the process, the market is segmented into trans-esterification and direct esterification. The direct esterification process had a significant share in the market in 2018. Direct esterification process is the most common process for preparing PBS and has several advantages such as the process that can be performed under atmospheric pressure and has a short reaction time. Whereas, the trans-esterification process is projected to grow at a considerable rate during the forecast period.
China Polybutylene Succinate (PBS) Market Segmentation
By Process
- Trans-Esterification
- Direct Esterification
By Application
- Packaging/Disposables
- Agriculture
- Textile
- Automotive
- Others
Company Profiles
- Anqing Hexing Chemical Co., Ltd.
- Ire Chemical Ltd.
- Jin Hui Zhao Long High-Tech Co., Ltd.
- Mitsubishi Chemical Corp.
- PTT Global Chemical Public Co. Ltd.
- Shandong Landian Biological Technology Co., Ltd.
- Showa Denko Kk
- SK Chemicals Co., Ltd.
- Yifan Pharmaceutical Co., Ltd.
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