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 $2 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.

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.

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. 

Further, PBS has been used in various industries such as packaging/disposables, agriculture, textile, automotive and others. The packaging industry has been significantly adopting biodegradable polymers. Moreover, China is a hotspot for development regarding consumer electronics products, owing to which it presents significant opportunities for the increase in demand for advanced materials such as PBS. Some of the players covered in the China PBS market include Showa Denko KK, Anqing Hexing Chemical Co., Ltd., Ire Chemical Ltd., Jin Hui Zhao Long High-Tech Co., Ltd., and others.

Research Methodology

The market study of the China PBS market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.
• Annual reports and forward-looking statement of key manufacturers 

The report is intended for plastic manufacturers, third-party suppliers, traders, distributors, government organizations and regulatory agencies, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, different products, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. China PBS Market Research and Analysis by Process
2. China PBS Market Research and Analysis by Application