Polyhydroxyalkanoate Market size is forecast to reach $106 million by 2026, after growing at a CAGR of 8.5% during the forecast period from 2021-2026. Rising demand from the packaging industry, prospering bio-clinical industry, and advantageous properties of polyhydroxyalkanoate are the prime development drivers of the polyhydroxyalkanoate market. Furthermore, an increase in the adoption of polyhydroxyalkanoate for application in newer industrial verticals, and emerging economies will create new opportunities for the growth of the global polyhydroxyalkanoate industry in the forecast era.
Impact of Covid-19
The COVID-19 pandemic and subsequent halt of development activities will affect the availability of several biodegradable polymers. Also, current trade disruptions will have a significant effect on the supply of polymers in import-dependent countries which are further anticipated to affect the polyhydroxyalkanoate market growth in the forecast period.
Polyhydroxyalkanoate Market Segment Analysis – By Form
Copolymerized PHA segment owing to its efficient properties such as higher toughness, better flexibility, and soaring demand for biodegradable materials is the largest revenue-generating segment. The cost-effectiveness, compared to PHA monomers, will boost the product demand in recent years. The two bacterial groups used to synthesize copolymerized polyhydroxyalkanoate in combination with hydroxy fatty acids are Aeromonas hydrophila and thiococcus pfennigii. Also, the blending of polymers is complicated by interfacial interactions between the two polymers. The degradation of properties and consequently poorer mechanical activity is mostly attributed to weak interfacial interactions. For this purpose, grafting or copolymerization should be used to change the polymers. Using the newly developed PHA block copolymers, several sophisticated biomedical applications are achieved. Thus, the increasing demand for copolymerized PHA will further drive the market for polyhydroxyalkanoate in the forecast period.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16135
Report Price: $ 4500 (Single User License)
Polyhydroxyalkanoate Market Segment Analysis – By Production Type
Sugar Fermentation held the largest share in the polyhydroxyalkanoate market in 2020. Including the fermentation of bacterial sugar or lipids, polyhydroxyalkanoates or PHAs are the polyesters that are created in nature by different microorganisms. Continuous fermentation processes in single-, two- and multi-stage configurations are documented as an evolving trend, bringing the kinetics of both microbial growth and PHA accumulation into line with process engineering and enabling the molecular structure of PHA to be tailored. Polyester is extracted and processed from bacteria during the industrial development of PHA by improving the conditions for the microbial fermentation of sugar. Thus, the increasing use of sugar fermentation for the production of polyhydroxyalkanoate will further drive the market over the forecast period.
Polyhydroxyalkanoate Market Segment Analysis – By Applications
The Packaging & foodservice held the largest share in the polyhydroxyalkanoate market in 2020 and is projected to grow at a CAGR of 7.9% during the forecast period 2021-2026. The increasing demand for bioplastics and biodegradable plastics for packaging and food services in different applications, such as plastic bags, sheets, and disposable cutlery is anticipated to drive the polyhydroxyalkanoate market. Also, for food packaging applications, bioplastics such as polyhydroxyalkanoates (PHAs) are considered an ideal candidate. Bioplastics are an increasingly feasible technological alternative to traditional polymers, with plastics that are bio-derived, biodegradable, or both. New industrial processes now imply that bioplastics can be made from post-consumer material, turning waste that is environmentally hazardous into a valuable resource for these processes to be used as a feedstock. Therefore, with the growing demand for bioplastics, the demand for the polyhydroxyalkanoate market is expected to grow in the forecast period.
Polyhydroxyalkanoate Market Segment Analysis – By Geography
Europe held the largest share with 34.9% in the polyhydroxyalkanoate market in 2020. Demand for PHAs is rising with the rising use of biodegradable plastic in the region’s packaging & food service, bio-medical, and agriculture applications. The growth of the European polyhydroxyalkanoate market is favoured by regulatory support and a rising tendency towards biodegradable plastics. According to the competitiveness plan Europe 2020 of the European Union for the reduction of greenhouse emissions and promotion of the bioplastics industry further underlines the relevant growth aspects of the European polyhydroxyalkanoate market. Hence due to these properties, the market is anticipated to boost in the forecast period.
Polyhydroxyalkanoate Market Drivers
Increasing demand for sustainable bio-based products in various regions
Growing concerns over the use of traditional plastics have further stimulated the growth of the market for polyhydroxyalkanoate. The U.S. government has passed the federal farm bill suggesting the federal agencies for the acquisition of sustainable bio-based goods. Increasing the abundance of raw materials and technological advances have influenced Canada and the US to move their attention to naturally derived polymers from petrochemical products to maintain an ecological balance, reduce manufacturing costs and retain the supply of petroleum. Compared with low production costs and rising applications in the cosmetics, food and beverage, and agricultural industries, positive growth is anticipated for the polyhydroxyalkanoate industry in the forecast period.
The increasing need for the production of recyclable products to boost the revenue sales
Better versatility and higher strength drive the demand for copolymerized polyhydroxyalkanoate as a biodegradable packaging material, thereby driving the revenue growth of the market for polyhydroxyalkanoate. Large-scale industries have made heavy investments in polyhydroxyalkanoate R&D because of the readily available raw materials. The future trend in the demand for polyhydroxyalkanoate is projected to be the production of PHA from municipal waste. The use of biodegradable plastics has led to strict government requirements against waste management and recycling of petro-based plastics. Bioplastics’ attractiveness as substitutes for petro-based plastics depends in part on their ability to achieve both environmental and economic objectives. Besides, their potential ability to minimize greenhouse gas emissions over their life cycle relative to petro-plastics and their potential for more sustainable industrial plastics production for instance by reducing greenhouse gas (GHG) emissions would, in turn, dive into growth opportunities for the demand for the polyhydroxyalkanoate market over the forecast period.
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16135
Polyhydroxyalkanoate Market Challenges
High production cost of polyhydroxyalkanoate
Polyhydroxyalkanoates (PHA) have been produced by a few microbes as bioplastics on industrial scales. PHA commercialization has been challenging because of its multifaceted nature and the related significant expense along with instabilities on molecular weights (Mw) and structures, instabilities on molecular weights thermo-and mechanical properties. PHA high production cost is related to complicate bioprocessing associated with sterilization, low conversion of carbon substrates to PHA products, and poor growth of microorganisms as well as complicated downstream separation. Hence, the high cost of polyhydroxyalkanoates will further create hurdles for the polyhydroxyalkanoate market in the forecast period.
Polyhydroxyalkanoate Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the polyhydroxyalkanoate market. In 2020, the market of polyhydroxyalkanoate has been consolidated by the top five players accounting for xx% of the share. Major players in the polyhydroxyalkanoate market are Kaneka Corporation, Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd., Bio-On Srl, Newlight Technologies, LLC, TianAn Biological Materials Co. Ltd., Meredian, Inc., Tianan Biologic Materials Co. Ltd., Polyferm Vanada, Inc., LIC PHB Industrial S.A., and BioMatera, Inc., among others.
The polyhydroxyalkanoate industry is powered by increased demand for biodegradable plastics fueled with stringent government regulations & policies against single-use plastics and developments in sustainable development and circular economy.
The key aspect that has stoked the preference of polyhydroxyalkanoate over traditional polymers is the biodegradability of PHAs.
Increasing the use of nanotechnology in the production of PHA biocomposites will also drive the market for polyhydroxyalkanoate over the forecast period.
Non-availability of raw materials, the availability of alternative compounds, and higher polyhydroxyalkanoate costs relative to traditional plastics are the main constraints of the global polyhydroxyalkanoate market.
Related Reports :
A. Biodegradable Mulch Film Market
B. Biopolymers Market
For more Chemicals and Materials Market reports, Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.