The US PBS market is estimated to grow at a CAGR of over 9.7% during the forecast period. The US is one of the major markets for PBS. Higher per capita economy, high usage of consumer electronics, automotive, plastic and packaging are the major factors for a significant market share in the region. Due to its desirable mechanical properties and biodegradable nature, the application area of PBS is expanding at a significant rate in the US. Therefore, the polymer is being considered as a renewable and economical substitute for conventional plastic parts with its remarkable chemical and mechanical properties. With the growth in major end-use industries which includes automotive, agriculture, and food packaging sector in the US, the market value for the PBS market is increasing in the country.
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Moreover, the US is one of the key exporters of agricultural products to China, India and South Korea. This is expected to increase the demand for advanced packaging options, thereby increasing opportunities for driving the market during the forecast period. Polymers are being used in various industries including automotive, food packaging, and agriculture industry of the US. Food packaging companies are shifting towards biopolymers for packaging material due to growing environmental concerns and stringent government regulations. In addition, the food packaging industry is growing at a substantial rate in the US due to the growing import and export of packaged food to other countries which include China, South Korea, India, and other Asian nations.
The US 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. The trans-esterification process is used by various food packaging manufacturers as it involves a green chemistry approach where enzymes as a catalyst are used to obtain environment-friendly polymeric materials.
PBS finds its applications in a number of industries including packaging/disposables, agriculture, textile, automotive and others. The packaging industry has significantly adopting biodegradable polymers to substitute non-biodegradable polymers such as polyethylene (PE), polypropylene (PP) and polystyrene plastics (PS). In the agriculture industry, PBS has been used for manufacturing plant pots and mulch films. The rising adoption of biodegradable mulch films is gaining significant importance in the region.
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US Polybutylene Succinate (PBS) PBS Market Segmentation
By Process
- Trans-Esterification
- Direct Esterification
By Application
- Packaging/Disposables
- Agriculture
- Textile
- Automotive
- Others
Company Profiles
- GC Innovation America Corp
- Koninklijke DSM N.V
- Mitsubishi Chemical Corp.
- Showa Denko Kk
- SK Chemicals Co., Ltd
- The Dow Chemical Co.
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