Europe to Dominate Polyhydroxyalkanoate Market until 2025
According
to TechSci Research report, “Global
Polyhydroxyalkanoate Market By Type (Short Chain Length, Medium Chain Length,
Others), By Application (Packaging & Food Services, Biomedical, Agriculture
and Others), By Production Method (Sugar Fermentation, Vegetable Oil Fermentation,
Methane Fermentation), By Region, Competition, Forecast & Opportunities,
2025”, global polyhydroxyalkanoate market is expected to
grow at a formidable CAGR during the forecast period. Increasing initiatives by national
governments in terms of offerings such as subsidiaries and tax grants for the
increased use of biodegradable materials is one of the major factors accounting
for the growth of the global polyhydroxyalkanoate market.
Moreover, booming packaging and healthcare industries is further expected to
bode well for the growth of global polyhydroxyalkanoate market through 2025. In
addition to this, ongoing research and development activities so that cost of
PHAs can be minimized is creating new growth opportunities for global polyhydroxyalkanoate
market. Furthermore, usage of PHAs in several bio-medical applications like
cardiovascular patches, bone-marrow scaffolds, nerve repair devices, bone, among
others is another factor, which is anticipated to give healthy push to the
growth of global polyhydroxyalkanoate market in the coming years. However, high
cost of raw materials and performance issues are the major factors that might restrain
the growth of global polyhydroxyalkanoate market through 2025.
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Global
polyhydroxyalkanoate market can be segmented based on type, application, production method,
company and region. Considering the type, the market is
fragmented into short chain length, medium chain length and others. The short
chain length PHAs segment dominated the global polyhydroxyalkanoate market
until 2019 and is further anticipated to lead the market in terms of both value
and volume during the forecast period as well on account of its outstanding properties
which includes higher toughness, better flexibility and soaring demand of
biodegradable materials. Additionally, increased understanding regarding
plastic waste creation leading to ecological imbalance has positively changed
the market sentiments towards the utilization of sustainable products, therefore
creating a rise in demand for biodegradable plastics. This factor plays a
crucial role in fueling the growth of segment across the globe.
Kaneka
Corporation, Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd,
Bio-On Spa, Newlight Technologies, LLC, TianAn Biological Materials Co. Ltd,
Rwdc Industries, Bochemie, Biomer, Polyferm Canada, Incare among others are the
leading players operating in global polyhydroxyalkanoate market. The players
are adopting several growth strategies to enhance the market scenario of polyhydroxyalkanoate.
Other competitive strategies include mergers & acquisitions to diverse
their product portfolio in order to strengthen their market position.
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“Europe is forecast to dominate the global polyhydroxyalkanoate market during
the next 5 years on the account of presence of major industry players such as such
as Bio-on, Biomer, Natureplast, ColorFabb, and EarthBi in the region. Moreover,
mounting use of biodegradable plastic in agriculture, packaging & food
service, bio-medical applications is also contributing to the growing trend. Furthermore,
rise in the consumer’s disposable income along with the existence of large
amount of capital by numerous industries resulting in increased investment in
R&D are some other factors that are expected to boost the growth of global polyhydroxyalkanoate
market in Europe through 2025. Also, Asia-Pacific is expected to witness the high
growth during the forecast years, which is accredited to the presence of large
manufacturing industries in this region.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Polyhydroxyalkanoate Market By Type (Short Chain Length, Medium Chain Length,
Others), By Application (Packaging & Food Services, Biomedical, Agriculture
and Others), By Production Method (Sugar Fermentation, Vegetable Oil
Fermentation, Methane Fermentation), By Region, Competition, Forecast &
Opportunities, 2025” has evaluated the future growth potential of global polyhydroxyalkanoate
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with essential
drivers, challenges and opportunities in global polyhydroxyalkanoate market.
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