Polyhydroxyalkonates (PHA) are biodegradable plastics that are synthesized by microbial fermentation of glucose or sugar. PHA has been used in the fixation and orthopedic applications, tissue engineering, production of bioplastic, food services, in packaging, pharmaceutical industry and agriculture. Innovative properties of PHA can bring additional value to the applications in which they are used. It is expected that advancement in the industrialization process of PHA would drive the cost of PHA and make it an alternative for conventional plastic.
Global PHA market is driven by the increasing demand for renewable, eco- friendly, and bio- based materials such as bagasse, zein, casein, plantstarch, etc. Other driving force is its bio- medical applications such as bone-marrow scaffolds, cardiovascular patches, nerve repair devices, bone, etc. High demand for packaging, followed by food services is also contributing to the growth of the market. However, R&D facilities and high cost of raw materials, which is 20% to 80% higher than the cost of raw materials of conventional plastics, are few of the challenges faced by this market. The opportunities that would help in the growth of this market are the rapid technological changes and increased investment in R&D by the developed countries.
PHA Product Type Market Analysis
PHA product type market is segmented into copolymerized PHA and linear PHA. Copolymerized PHA segment is the largest revenue generating segment due to its efficient properties such as better flexibility, higher toughness and soaring demand of biodegradable materials.
PHA Application Market Analysis
PHA Application Market is segmented into agriculture, food services, packaging, bio-medical and others (Disposable items). Packaging segment is the largest revenue generating segment due to rising awareness of biodegradable packaging material.
PHA Geography Market Analysis
PHA Geography Market is segmented into North America, Europe, Asia Pacific and RoW. Europe, followed by Asia Pacific, is the largest revenue generating segment due to relative rise in the consumer’s disposable income and presence of large amount of capital by various industries resulting in increased investment in R&D.
High Level Analysis
Report presents detailed analysis of PHA market using Porter’s five forces model. Degree of bargaining power of consumers is expected to be high due to competition among industry leaders for innovative products. Degree of bargaining power of suppliers is expected to be moderate, due to good number of vendors present in the market. Threat of new entrants is low, due to unavailability of substitutes.
- Analysis of the emerging portfolio of PHA Market on the basis of various segments and evaluation of renewable raw materials are expounded in the report. Segmental analysis is also done in order to find out the largest revenue generating segment
- To study the various factors that are driving and restraining the growth of the market that would help the market players to understand the dynamics of the changing competition in the global PHA market
- Study of SWOT and analysis of the captivating strategies adopted by the market players is conducted and that would assist the stakeholders to take actionable decisions
- Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market through are expounded in the report. Thus, help stakeholders analyze the market
- To find out the various opportunities for the expansion of the market and thus help the stakeholders to understand the future prospects on the various industrial applications due to excess availability of materials.
Polyhydroxyalkanoate (PHA) Market Report Highlights
By Product Type
Key Market Players
Newlight Technologies, Metabolix Inc, Biomer, Polyferm Vanada, Inc, LIC PHB Industrial S.A, BioMatera, Inc., Tianan Biologic Materials Co. Ltd, Biomatera, Meredian, Inc., Kaneka Corporation., Shenzhen Ecomann Biotechnology Co, Ltd.