Polyhydroxybutyrate Market is to Grow Significantly in the Forecast year by 2023

Pune, India, August 08, 2017 /MRFR Press Release/- Market Research Future published a Half Cooked Research Report on Global polyhydroxybutyrate Market.

Polyhydroxybutyrate Market Highlights

Europe is predicted to lead the market during the forecast period due to increasing consumption of polyhydroxybutyrate in end use industries such as pharmaceutical, automotive, food, agriculture, and others. The strong manufacturing base of packaging industry coupled with increasing demand in Germany and U.K is expected to drive demand over the forecast period. Prohibition on the sale of plastic shopping bags, rising consumer awareness regarding the use of biodegradable plastics, and relaxation in taxes on the use of biodegradable plastics are the major factors driving the market growth in European countries such as Italy, France, and Germany.

In North America, specifically in the U.S, government has imposed stringent regulations against the use of non-degradable plastic, which has consequently increased PHB production and is leading to the growth of PHB market. Increasing demand for advanced and easy to use medical devices in U.S based pharmaceutical industries is also expected to propel market growth. Increase in the number of geriatric population and expansion of healthcare market in the Canada and U.S. is expected to fuel the market growth.

Asia Pacific is expected to register a significant growth over the forecast period owing to growing agricultural use of PHB in developing countries such as China, Japan, and India. Increasing industrialization in emerging economies and rising automobile sales in Asia Pacific are a few other factors driving the PHB consumption. Increasing disposable income coupled with favorable regulations is attracting foreign investments and is predicted to influence PHB demand.

Global polyhydroxybutyrate market share, by region (2016) (%)

SegmentationSegmentation of global polyhydroxybutyrate market is done on the basis of application, end use industry and region. On the basis of application, market is segmented into medical devices, packaging, mulch films, and others. Based on the end use industry, the market is categorized into pharmaceutical, food, agriculture, automotive and others.

Polyhydroxybutyrate possess superior properties such as excellent flexibility, toughness and high biodegradability thus making it suitable for manufacturing bin bags, cling wraps, and bottles for food industry. PHB exhibits non-toxicity and is widely used in the production of mulch films for end use industry such as agriculture. PHB is also used as medical implants and as drug delivery carriers because of its non-toxic nature.

On the basis of region, this market is segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa.

Key players-Key industry participants include BASF SE (Germany), Biomer (Germany), TianAn Biologic Materials Co., Ltd. (China), PHB Industrial S.A (Brazil), BIO-ON (Italy), Telles, LLC (U.S), TEPHA INC (U.S) and others.

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