The main element driving the expansion of the polybutylene succinate (PBS) market as it is used in various sectors, including the chemical, pharmaceutical, and other sectors.
With a market share of 37% in 2021, Asia Pacific dominated the polybutylene succinate market. This results from increased product demand across several end-use sectors in China, Japan, South Korea, and Thailand. These nations look to have significant growth and financial potential.
According to estimates, the market's growth will be hampered by the high price of polybutylene succinate (PBS).
The polybutylene succinate (PBS) market is anticipated to expand at a CAGR of 7.3% between 2023 to 2032
The polybutylene succinate (PBS) market size was estimated to be US$ 70 billion in 2021.
Major players operating in the global polybutylene succinate (PBS) market include Mitsubishi Chemicals, PTT MCC Biochem Co., Ltd., Showa Denko K.K, SK Chemical, IRe Chemical Ltd., Sinoven Biopolymers Inc., Kingfa Science & Technology Co., Anqing Hexing chemical Co., Ltd. Among others.
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