MARKET OVERVIEW:
PBS’s market expansion is supported by several factors, including its versatility and biodegradability, and its growing applications across various industries. In addition to plastic packaging, PBS is finding significant demand in medical supplies, agricultural films, and as a component in eco-friendly consumer products. Historically, the market for PBS has been relatively niche but is gaining momentum as more industries focus on sustainability. As governments and organizations implement more stringent regulations on non-biodegradable plastic use, the demand for
MARKET INSIGHT & GROWTH DRIVERS:
CAGR 2032
49 million i USD 57.45 million 2.30%
This market is gaining traction due to stricter environmental regulations worldwide, particularly in industries such as power generation, cement production, and metal processing..
Click Here for More Detailed Report
MARKET DYNAMICS
Stringent Environmental Regulations Driving
Adoption of DeNOx Catalytic Filter Bags
Environmental Concerns: Increasing awareness of plastic pollution and its harmful effects on the environment is one of the key drivers of PBS demand. Being biodegradable, PBS provides a sustainable alternative to conventional plastic materials.
Regulatory Support: Government regulations on plastic waste and increasing adoption of environmental policies are encouraging the use of biodegradable materials like PBS in various industries.
Advancements in Technology: Improvements in the manufacturing and production processes of PBS are making it more cost-effective
MARKET OPPORTUNITIES
Growth in End-User Industries: As industries such as packaging, agriculture, and healthcare continue to adopt more sustainable materials, PBS is poised to capitalize on these shifts.
Expansion into Emerging Markets: The demand for sustainable materials is increasing in emerging markets, where there is growing recognition of environmental issues and the need for eco-friendly solutions.
Development of New Applications: There are numerous untapped opportunities for PBS in the automotive, textile, and electronics sectors as manufacturers seek biodegradable alternatives for various components.
COMPANY MISSION
Boron neutron capture therapy (BNCT) is emerging as a promising cancer treatment modality, particularly for difficult-to-treat tumors like glioblastoma. Japan has led clinical adoption with over 200 patients treated since 2020, while China and Europe are ramping up clinical trials. The precision targeting capability of boron-10, when irradiated with low-energy neutrons, minimizes damage to healthy tissues - a significant advantage over conventional radiotherapy. Pharmaceutical companies are investing in boron-containing drug development, with several boron-10 based compounds currently in Phase II/III trials for various oncology indications.
REGIONAL MARKET OUTLOOK
North America
North America holds a significant share of the global PBS market, with a market size of USD 12.77 million in 2023. The region is projected to experience a CAGR of 1.97% during the forecast period from 2024 through 2030. The United States and Canada are the primary drivers of growth in this region due to their strong environmental regulations and increasing demand for sustainable materials in packaging, agriculture, and medical products.
Europe
Europe is another key market for PBS, with a strong focus on environmental sustainability and a high demand for biodegradable plastics. The European Union has stringent regulations for plastic waste management, encouraging the use of eco-friendly materials such as PBS. Countries like Germany, France, and the UK lead the way in PBS adoption.
COMPETITIVE LANDSCAPE
• • Mitsubishi Chemical Corporation
• • Showa Denko
• • PBS Co., Ltd.
• • Kingfa Sci. & Tech. Co., Ltd.
• • Anqing Hexing Chemical Co., Ltd.
These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.
DOWNLOAD FREE SAMPLE PDF
About Us
Founded in 2015, 24chemicalresearch is a trusted name in global chemical industry intelligence. We specialize in delivering high-quality market research reports, empowering over 30+ Fortune 500 clients with data-driven insights for strategic growth. Our team of experienced analysts delivers customized, reliable, and timely research backed by a rigorous methodology. From mining regulatory trends to forecasting market opportunities, our reports help companies navigate industry challenges, stay competitive, and grow confidently.
As a one-stop platform for the chemical sector, we offer:
• Deep specialization in chemical market analysis
• Customized reports tailored to your needs
• A robust portal with free samples, consulting, and competitive insights
