Dec 09, 2021/IndustryNewsGlobal/ The unexpected shifts in the globalmarkets because of the sudden outbreak of the COVID-19 virus have brought manymajor and minor tremors to industries of all sizes including the Polyhydroxyalkanoate (PHA) Market.
It was estimated prior to this unanticipatedoutbreak that the Polyhydroxyalkanoate(PHA) Market is likelyto witness an impressive CAGR of 11.5% during the forecastperiod. The growth of the market for polyhydroxyalkanoate (PHA) is mainlyattributed by the increasing demand for biodegradable plastics, propelled by stringent government regulations against single-use plastics and trends related to sustainable development and rising concerns towards greenhouse gas emission linked with positive regulatory framework facilitating consumption of bio-based products.
Polyhydroxyalkanoate is a type ofnatural polyester which is derived from bacterial fermentation. It possessesvarious properties, such as sustainability, biodegradability, and is of bio-based nature, which is used in various applications such as agriculture, biomedical, and packaging & food services.
The mechanical properties of PHAcan also be changed by blending, modifying the surface or by combining it withpolymers, enzymes and inorganic materials, so as to use it in a wide array of applications.
Segment Analysis
Based on the type, the marketis segmented as short chain length and medium chain length. The shortchain length segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The extensive use of short chain length PHA is in the biomedical application and increasing usage of biodegradable plastics is driving the growth of this segment.
Based on the application type,the polyhydroxyalkanoate (PHA) market is segmented as packaging & foodservices, biomedical, agriculture, and others. The packaging & foodservices segment is estimated to dominate the market during the foreseen duration. Polyhydroxyalkanoate is used in various applications of packaging & food services, such as plastic bags, sheets, and disposable cutlery, which is propelling the growth during the forecast period.
In terms of regions, Europeis estimated to be the largest polyhydroxyalkanoate (PHA) market duringthe forecast period, with Germany, France, and the UK, being the major countries with lucrative growth opportunities. The growth of the market is driven by the regulations, policies, and consumer behavior, which is generating huge demand for polyhydroxyalkanoate (PHA) and the presence of a large number of polyhydroxyalkanoate (PHA) manufacturers in the European region. North America and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.
Key Players:
Key players operating in the global Polyhydroxyalkanoate(PHA) market are-
- Taconic Biosciences
- FIBERFLON
- Saint-Gobain Performance Plastics
- W. L. Gore & Associates, Inc.
- Chukoh Chemical Industries
- Daikin Industries.
Features of the Report
This report offers high-qualityinsights and is the outcome of detailed research methodology comprisingextensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polyhydroxyalkanoate (PHA) analysis report discusses the followingheads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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