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.
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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.
Segmentation
Segmentation 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-
Ø BASF SE
Ø Biomer
Ø TianAn Biologic Materials Co., Ltd.
Ø PHB Industrial S.A
Ø BIO-ON
Ø Telles, LLC
Ø TEPHA INC
Geographical Analysis
The report covers brief analysis of geographical regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Intended Audience
- Polyhydroxybutyrate manufacturers
- Traders and distributors of
polyhydroxybutyrate
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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