Polyhydroxy Butyrate Market 2021 | AGRANA Beteiligungs-AG (Austria), Green Dot Bioplastics (USA), TianAn Biologic Materials Co., Ltd. (China)
The global polyhydroxy butyrate market is growing rapidly. The market growth attributes to the rising demand for biofuel and bioplastic products. Besides, the increasing consumption of polyhydroxybutyrate (PHB) in bioplastic production drives the market growth substantially. Owing to its biological degradability and non-pollutant characteristics, PHB has emerged as an attractive alternative to petroleum-derived plastics.
Therefore, polyhydroxybutyrate finds various applications in several end-use industries such as packaging and biomedical and others. According to Market Research Future (MRFR), the Polyhydroxy Butyrate Market is projected to grow at approximately 18.69% CAGR during the review period (2022 – 2027). Increased PHB absorption by the prominent end-use industries is a key driving force behind the market's growth.
Additionally, the increasing environmental regulations and rising concerns related to plastic waste accumulation boost market growth. Furthermore, the growing use of PHB bioplastics as a substitute for polyolefin commodities like polypropylene (PP) and polyethylene (PE) create lucrative opportunities for the market players. On the other hand, the high fabrication cost and poor mechanical properties of the biopolymer limit are the major factors estimated to hamper the market growth.
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Nevertheless, the addition of a small quantity of environmentally benign materials, bioplastics of improved mechanical properties would boost the market growth throughout the review period. Also, a variety of applications in the biomedical and medical industry that PHB finds is anticipated to bolster the market growth.
Global Polyhydroxy Butyrate Market - Segments
The report is segmented into three dynamics.
By Type : Powder, Film, Sheet, and Granules.
By End-Use Industry : Packaging, Biomedical, Consumer Goods, Agriculture, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
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Polyhydroxy Butyrate Market - Regional Analysis
Europe dominates the global polyhydroxy butyrate market. The largest market share attributes to the rising production of biofuels that eliminates the dependency on fossil fuels. Besides, the increasing demand for sophisticated biopolymers and growing industrialization in the region, drive the market growth. Also, the presence of well-established bioplastic industries and the rise in several legislations by the FDA and EPA in the region impact the market growth positively. Additionally, the increasing use of biopolymers in the biomedical industry and strong R & D fuel the regional market growth.
The Asia Pacific region stands second in the global polyhydroxy butyrate market. The market is driven by the swiftly rising industrialization and increasing per capita disposable income. Moreover, augmenting demand for PHB led by the rising usages of packaged foods and packing films in the region foster market growth. Additionally, the increasing environmental concerns and restrictions imposed on the usage of plastic goods propel the market demand in the region. Japan is the leading market in the region and is expected to grow substantially in the years to come. Also, other APAC countries such as India, China, and South Korea hold a substantial market share.
North America holds a sizable share in the global polyhydroxy butyrate market. Factors such as the stringent environmental regulations about the use of non-degradable plastics and rising demand for bioplastic products drive the regional market growth. Furthermore, recent advancements in the developments of new-generation biopolymer-based nanocomposites for food packaging materials boost the market growth. The US is the key market in the region due to the vast biotechnology and packaging industry.
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Polyhydroxy Butyrate Market - Competitive Analysis
Fiercely competitive, the polyhydroxy butyrate market appears fragmented due to the presence of many well-established players. To gain a larger competitive share, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, and innovations. They make substantial investments to drive R&D required for the developments of a cost-competitive product portfolio and technology launch.
For business expansion, they acquire small yet promising companies in the emerging markets, focusing on optimized situational awareness for customers. Rising strategic transactions are changing the market structure by increasing the profit of the acquiring company and significantly reducing market competition.
Major Players:
Players leading the global polyhydroxy butyrate market include Kaneka Corporation (Japan), Biome Technologies PLC (UK), BASF SE (Germany), Full Cycle Bioplastics(USA), PolyFerm Canada (Canada), Cardia Bioplastics (Australia), TianAn Biologic Materials Co., Ltd. (China), Tianjin GreenBio Materials Co., Ltd (China), AGRANA Beteiligungs-AG(Austria), and Green Dot Bioplastics (USA), among others.
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Industry/ Innovation/ Related News:
June 24, 2020, ---- Dept. Of Chemistry at the University of Utah, announced that it has been working on the mechanism of sustainable and economical cascade-based electrocatalysis that could lead to a brighter future across research and industry. During the discussion, the university officials also mentioned that recently they have successfully made the sustainable biosynthesis of polyhydroxybutyrate economical.
One of the things that University was interested in is whether or not electrocatalysis can produce plastic products more sustainably, especially sustainable polymers. University scientists developed a system that could take microorganisms to produce plastics and later removed the part of the microorganism responsible for that chemistry and immobilized it on electrode surfaces to be able to electric chemically generate plastics.
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