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Global Polyhydroxyalkanoate Market Overview
Polyhydroxyalkanoate Market is expected to reach a value of USD 125 Million by the end of the forecast period growing at a CAGR of 14%. Microbial fermentation of uncooked raw materials produces polyhydroxyalkanoate polymers. Biopol is the brand name for these products. Polyhydroxyalkanoate polymers are made from renewable resources such as vegetable oil, starch, and proteins. They are non-toxic, have a high level of UV resistance, and are biocompatible. Optical display and the piezoelectric effect are also demonstrated. Polyhydroxyalkanoate polymers are employed in a variety of applications, including packaging, biomedical, biofuels, and medicines, due to these qualities. Polyhydroxybutyrate and Polyhydroxybutyrate combined with copolymers are two types of polyhydroxyalkanoate. Polyhydroxybutyrate is a thermoplastic polymer that resembles polypropylene in characteristics. It has an advantage over polypropylene-based products since it is environmentally friendly and non-toxic, as well as having greater physical properties. Polyhydroxybutyrate has a molecular weight that ranges from 50,000 to a million, depending on the growth and extraction process. Production of bio-based goods that are environmentally friendly and aid in the attainment of sustainable development are significant trends and factors in the Polyhydroxyalkanoate Market.
In 2023, paper cups for hot beverages will be fully sustainable thanks to phade®, the world's first paper cup coated with PHA (polyhydroxyalkanoate), a breakthrough new biopolymer generated from canola oil fermentation that is home and industrial composting as well as marine biodegradable. WinCup, Inc. developed the innovative phade® paper cup as a sophisticated alternative to standard paper cups, which, unbeknownst to most consumers, are coated with fossil-fuel-based plastic to contain beverages and hence cannot be recycled or composted.
Polyhydroxyalkanoate Market Share, by Application:
Regional Analysis
The Polyhydroxyalkanoate Market is segregated into five regions namely Asia Pacific, Europe, North America, Latin America and the Middle East & Africa. Among these, Asia Pacific region is set to grow at the highest CAGR during the forecast period, 2017-2023. China has emerged as the leading player in this region owing to the growing usage in biomedical applications. The advancement in technology and availability of raw materials extracted from wastes of sugar palm oil and others has propelled India and Japan to witness a massive growth in the Polyhydroxyalkanoate Market. Currently, it has been observed that the petrochemical derived products were replaced by bio polymers in order to reduce the cost of manufacturing and production process, preserve the petroleum sources, and other environmental factors.
Globally, European region accounted for the major shareholder of Polyhydroxyalkanoate Market in 2015 and anticipated to continue its dominance during the forecast period, 2017-2023. Germany, U.K and Italy are the leading players in this region due its continual growth and development in the production of environmental friendly products.
During the forecast period, North American region has been projected to witness a massive growth in the Polyhydroxyalkanoate Market due to its growing demand observed in packaging, agriculture and food sectors. Availability of raw materials and the development in technology has driven countries like U.S. and Canada to shift their focus from petrochemical derived product towards naturally produced polymers in order to attain ecological balance, save the cost of production and conserve the petroleum sources. The growing production of sugarcane in Latin America has recognized a significant growth in Polyhydroxyalkanoate Market during the forecast period. Moreover, the Middle East & Africa has recognized a rapid growth in the development of Polyhydroxyalkanoate Polymers due to its increasing usage in end-use industries.
Segmentation
The Polyhydroxyalkanoate Market is differentiated into Type, Technology and Application. Market by type is fragmented as Polyhydroxyalkanoate and polyhydroxybutyrate blended with co-polymers. Polyhydroxybutyrate Polymers are produced by biological degradation of microorganisms. It has been observed that biopolymers have already substituted petrochemical based product due to its exceptional features such as bio-compatibility, non-toxicity and environmental oriented nature. On the basis of technology, biopolymers can be produced by genetically engineered plants and bacteria. With the implementation of these technologies, biopolymers can be produced within 24 hours rather than conventional polymers that take 3 days. Biomedical, packaging, drug delivery carriers, biofuels and drugs are included in the market segregation on the basis of application. Among these, a surge in demand has been projected in the packaging sector during the forecast period, 2022 to 2030.
Key Players
The major players operating in the Polyhydroxyalkanoate Market are Shenzhen Ecomann Biotechnology Co, Ltd (China), Tianjin GreenBio Materials Co., Ltd (China), Kaneka Corporation (Japan), BASF SE (Germany), Biome Technologies PLC (U.K.), BIO ON (Italy), Polyferm, Inc (Canada), Full Cycle Bioplastics (U.S.A), and Cardia Bioplastics (Australia) among others.
Recent Development
- In June 2021, Danimer Scientific has announced the completion of debottlenecking initiatives at its Winchester, Ky., production plant, allowing the company to increase production of Nodax, it is signature polyhydroxyalkanoate (PHA), to meet its goal of achieving the plant's full annual run-rate capacity of over 20 million lbs of Nodax-based resins by the end of this year. As previously stated, Nodax PHA is derived through natural fermentation processes, which include plant oil derived from crops such as canola. After its lifecycle, the substance is known to break down in a variety of habitats, including soil and marine environments, industrial composting facilities, and backyard compost units. The material is versatile and can be utilized in a variety of applications.
- In the year 2021, Danimer Scientific, Inc. signed a long-term collaboration agreement with Total Corbion PLA for the supply of Luminy PLA, a biobased polymer used in the development of biodegradable products. Both of these companies are major participants in the bioplastics sector, specializing in the development and production of biodegradable materials. This partnership strengthens Danimer's ability to meet client needs for resins that require a combination of PLA and PHA-based inputs, while the company improves its distinctive polyhydroxyalkanoate (PHA), Nodax.
Geographical Analysis:
The Polyhydroxyalkanoate Market Report covers brief analysis of geographical regions such as Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
Intended Audience
- Polyhydroxyalkanoate Manufacturers
- Traders and Distributors of Polyhydroxyalkanoate
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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