Polybutylene succinate (PBS) is a biodegradable polymer made from BIOSUCCINIUM, a bio succinic acid that has gained significant attention in recent years due to its eco-friendliness and potential for use in a wide range of applications, including packaging, textiles, and automotive components. The global PBS market is being driven by a growing demand for sustainable and biodegradable alternatives to conventional plastics, as well as increasing government regulations on plastic waste and environmental pollution. Additionally, the rising awareness among consumers about the harmful impact of conventional plastics on the environment is boosting the demand for PBS and other bioplastics. The market for PBS is expected to continue to grow in the coming years as more companies adopt sustainable and environmentally friendly practices. Owing to this, in 2017, the PBS market value was $88.5 million, which is estimated to reach $160.0 million in 2023.
Key Trends in the Polybutylene Succinate Market
Increasing Demand for Biodegradable Packaging
The demand for PBS is being driven by a growing trend towards biodegradable and compostable packaging. PBS compounds have a variety of advantages, including heat resistance and well-balanced mechanical qualities for a variety of applications. Paper beverage or coffee cups are often covered with a polyethylene (PE) coating, making them difficult to recycle. However, coating cups with PBS can serve as a solution since they may be recycled or re-pulped, and they can even be composted.
Growing Use in Automotive Applications
PBS is being increasingly used in the automotive industry as a replacement for conventional plastics due to its lightweight and eco-friendly properties. For instance, Mitsubishi Chemical offers a PBS-based composite material that can be used in the production of lightweight car parts.
PBS Use in Agriculture
For many years, traditional polymers have aided agriculture and horticulture. Mulch films, greenhouse films, irrigation systems, plant pots, and a variety of supplementary products are well-known examples. Contemporary bio-based polymers based on BIOSUCCINIUM, such as PBS, decompose fully in compost or soil. When it is difficult to collect and recycle items at the end of their useful lives, compostable plastics provide an alternate disposal option. Additionally, PBS is also being employed to make smaller items such as garden tools, utensils, clamps, and ropes. Such items are sometimes dropped or left in the open air, where they ultimately decay and breakdown into water and CO2.
Expansions and Innovations by Major Market Players
The global PBS market is led by major companies such as Succinity GmbH, Mitsubishi Chemical Corp., PTT Global Chemical Public Co., Ltd., and DowDuPont, Inc. These companies are working together to satisfy the growing demand for bioplastics in the packaging and disposables industries. To maintain their competitive edge in the PBS market, these players are implementing different strategies, such as partnering with other companies, collaborating, and making investments. Some of the recent developments in the market include-
• In August 2022, Technip Energies, a French engineering and technology company, expanded its range of sustainable chemicals by acquiring DSM's biosuccinium technology. Technip claimed that it is the market's only authorized solution for creating bio-based succinic acid, which is a feedstock to produce PBS, an eco-friendly material for food contact applications.
• In January 2022, Clearwater Paper Corporation developed NuVo with BioPBS, a biodegradable cup stock that offers foodservice operators an alternative to hot cups coated with low-density polyethylene. NuVo with BioPBS is the first cup material to have a biodegradable barrier, 35% post-consumer fiber, FSC® chain-of-custody certification (FSC-C008402), and a high-definition print surface.
Government Regulations and Campaigns to Support the Market
There are various government initiatives across the globe aimed at increasing the growth of the global PBS market. Governments are implementing policies and regulations aimed at reducing plastic waste and promoting the use of more sustainable materials. For instance, the European Union's Single-Use Plastics Directive includes measures to reduce the use of single-use plastics and promote the use of biodegradable and compostable alternatives such as PBS.
Additionally, Australia announced the ambitious 2025 National Packaging Targets in 2018. The targets pave the way for a more sustainable approach to package management in Australia. The four targets to be accomplished by 2025 include-