Polyhydroxybutyrate Market Eyeing Admirable Growth Due to Increasing Government Initiatives

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Polyhydroxybutyrate Market.

Market Analysis 

The Global Polyhydroxybutyrate Market is predicted to touch USD 752.3 Million at a 5.57% CAGR over the forecast period (2019-2024), states the latest Market Research Future (MRFR) report. Polyhydroxybutyrate or PHB, simply put, is a biopolymer that is produced from microorganisms. This is a form of polyhydroxyalkanoate (PHA) which is produced through the fermentation process. It is a thermoplastic polymer having properties that are similar to PP (petroleum-based polypropylene). Polyhydroxyalkanoate (PHA) is biodegradable and mostly used to manufacture packaging material, medical devices, and mulch films. 

PHB has various properties including biodegradability, non-toxicity, water resistance, and good oxygen permeability, which make it immensely useful for different end use industries. It is preferred over traditional petrochemically derived plastics owing to the plentiful benefits that it offers. Moreover, it is non-toxic, thus automatically holds better physical characteristics over polypropylene and thus is widely used in food packaging. 

Various factors are propelling the polyhydroxybutyrate market growth. Some of these factors, according to the Market Research Future report, include growing initiatives by the government and environmental agencies, increasing awareness in consumers about the negative impacts of non-biodegradable packaging materials, its eco-friendly nature, and increasing use in packaging materials including garbage bags, bin bags, and cling films, and increasing consumption of packaged food. 

On the contrary, high product price may hamper the polyhydroxybutyrate market growth over the forecast period. 

Market Segmentation

The MRFR report offers a wide segmental analysis of the polyhydroxybutyrate market on the basis of grade, application, and end use industry. 

Based on grade, the polyhydroxybutyrate market is segmented into lithium battery grade and industrial. Of these, the lithium battery grade segment is predicted to have the largest share in the market over the forecast period. This is owing to growing demand in the electrical and electronics and automotive industries. 

Based on application, the polyhydroxybutyrate market is segmented into chemical intermediate, electrolyte, solvent, and others. The electrolyte segment will lead the market over the forecast period. This is owing to growing demand for lithium-ion batteries. 

Based on end use industry, the polyhydroxybutyrate market is segmented into electronics, foundry, personal care and cosmetics, paints and coatings, Li-ion batteries, and others. Of these, the li-ion batteries segment will dominate the market over the forecast period. This is owing to increasing investment in electric cars, coupled with consumers inclination towards electronic goods. 

Regional Analysis

By region, the polyhydroxybutyrate market report covers the latest trends and growth opportunities across North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, the APAC region will lead the market over the forecast period. This is owing to burgeoning demand from various end use industries, including automotive, agriculture, food, and pharmaceutical. Moreover, the demand for biodegradable plastic, especially in Japan, India, and China, are anticipated to go up due to growing pharmaceutical and food industries in these countries. 

The polyhydroxybutyrate market in Europe is predicted to have the second-largest share in the market over the forecast period. This is owing to Europe being the biggest regional market for biodegradable packaging as well as the paper industry. Sweden, the UK, Italy, and Germany are the key contributors in this region as they are the leading consumer markets. 

The polyhydroxybutyrate market in North America is predicted to witness steady growth over the forecast period. This is owing to the increasing use of biodegradable paper and plastic. The US is the key contributor in this region, followed by Canada and Mexico. 

The polyhydroxybutyrate market in Latin America is predicted to have a positive growth over the forecast period. 

The polyhydroxybutyrate market in the Middle East and Africa is predicted to have moderate growth over the forecast period. This is owing to the implementation of cultivation methods for enhancing crop production and increasing technological advancement. 

Key Players

Leading players profiled in the polyhydroxybutyrate market report include TEPHA INC (US), Telles, LLC (US), BIO-ON (Italy), PHB Industrial SA (Brazil), TianAn Biologic Materials Co., Ltd. (China), Biomer (Germany), and BASF SE (Germany). 

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