NEW YORK, Jan. 31, 2017 /PRNewswire/ --
"Increasing scope in end-user segments across the globe to drive the market for PHA."
The global market for Polyhydroxyalkanoate (PHA) is projected to grow from an estimated USD 73.6 million in 2016 to USD 93.5 million by 2021, at a CAGR of 4.88%. With the increasing focus on sustainability and favorable governmental green procurement policies, the market for biodegradable plastics such as PHA is expected to grow at a high rate. However, the cost of production of PHA based bioplastics is higher than that for conventional plastics, which could restrain the growth of the market.
"The packaging segment to gain a major share during the forecast period."
The packaging segment is projected to be the fastest-growing in the PHA market during the next five years. PHA is a biodegradable polymer which decomposes naturally due to the actions of environmental microorganisms on it, and can be used in various types of packaging such as, rigid, flexible, loose fill, and compost bags.
"European region accounted for the largest market share in 2015."
The market for PHA is segmented on the basis of regions into, North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe accounted for the largest share of the total demand generated by the global PHA market in 2015, owing to the fact that focus on sustainability is high in the European region, especially in the European Union region. The Asia-Pacific region is projected to be the fastest-growing market for PHA during the forecast period, owing to the growth in the economies and the rapid growth in the bio medical and packaging sectors.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of PHA market. The distribution of primary interviews is as follows:
- By Company: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
- By Designation: Director level - 23%, C level - 21%, and Others - 56%
- By Region: North America – 30%, Asia-Pacific - 41%, Europe - 18%, and RoW - 11%
The various companies supplying PHA and related products are as follows:
- Metabolix Inc. (U.S.)
- Kaneka Corporation (Japan)
- Meredian Holdings Group, Inc. (U.S.)
- Shenzhen Ecomann Biotechnology Co., Ltd (China)
- BioMatera (Canada), Biomer (Germany)
- Bio-On Srl (Italy)
- Newlight Technologies, LLC (U.S.)
- PHB Industrial S.A. (Brazil)
- PolyFerm Canada, Inc. (Canada)
- TianAn Biological Materials Co. Ltd. (China)
- Tianjin GreenBio Materials Co., Ltd. (China)
This report segments the market for PHA into type, manufacturing technology, application, and region, and provides the estimations for the overall value of the market and the subsegments across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product & technology launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for PHA.
Reasons to buy the report:
This report will help the leaders/new entrants in this market in the following ways:
- To analyse and have a better understanding of the PHA based bioplastics market
- To provide them information on key market drivers, restraints, challenges, and opportunities
- To gain more insights regarding their competitors and their position in the market
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