Polyhydroxyalkanoate Polymers are biodegradable compounds, derived from natural resources such as vegetable oil, starch and proteins, among others. These polymers exhibit optical display, anti-oxidant property and piezoelectric effect which make them useful in various applications such as packaging, medical, agriculture and food services. Polyhydroxyalkanoate Polymers are of two types namely Polyhydroxybutyrate and Polyhydroxybutyrate blended with copolymers. Polyhydroxybutyrate Polymers are composed of 14 monomeric units. These polymers can be used as a substitute for synthetic plastic in order to avoid the depletion of natural resources and improvement achieved in the downstream process.
The important driving factors in the Global Polyhydroxyalkanoate Market are implementation of rules and regulations set by the government to promote bio based products which are compatible to the environment. It has been estimated that a significant growth will be achieved in the global polyhydroxybutyrate market due to advancement in technology and the adequate availability of raw materials.
Competitive Analysis:
The prominent players functioning in the Global Polyhydroxyalkanoate Market are Shenzhen Ecomann Biotechnology Co, Ltd (China), Tianjin GreenBio Materials Co., Ltd (China), Kaneka Corporation (Japan), BASF SE (Germany), Biome Technologies PLC (U.K.), BIO ON (Italy), Polyferm, Inc (Canada), Full Cycle Bioplastics (U.S.A), Cardia Bioplastics (Australia), and others.
Market Segmentation:
The Global Polyhydroxyalkanoate Industry is fragmented by type, technology, application and region. Polyhydroxybutyrate polymers and polyhydroxybutyrate blended with copolymers are segmented on the basis of market type. Among these, polyhydroxybutyrate polymers are widely used for making bio-plastic materials which are beneficial to human beings and the environment. During the forecast period, a higher CAGR has been anticipated in the packaging sector owing to the growing use of Polyhydroxybutyrate Polymers. The technologies that are segregated on the basis of market type are genetically engineered plants and bacteria. Among these, genetically engineered bacteria segment has witnessed a significant growth in the production of polyhydroxybutyrate polymers due to its fast production and easy degradation. Biomedical, packaging, drug delivery carriers and biofuels are classified on the basis of application. It has been estimated that packaging sector is set to expand at a higher CAGR during the forecast period.
Segmental Analysis:
The Global PHA Market is spanned across five regions in the world namely Asia Pacific, Europe, North America, Latin America and the Middle East & Africa. It has been observed that Asia Pacific is set to expand at a higher CAGR during the forecast period. The major shareholder of Global Polyhydroxyalkanoate in the world is Europe due to its primary objective to achieve sustainable development in the region. The Polyhydroxybutyrate Market has observed a significant growth in the North American and Latin American region due to rising demand in the packaging and medical applications. A steady growth has been estimated in the Middle East & African region due to growing use of bio based products in the end-use industries.
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