Polyhydroxybutyrate
(PHB) Market Forecast to 2023:
According to Market Research Future (MRFR)’s analysis, the
global polyhydroxybutyrate (PHB) market
has been projected to thrive at a moderate CAGR
during the forecast period 2016 to 2023. PHB is gaining traction owing
to its environment-friendly
characteristics. It is produced through a
fermentation process using microorganisms. This is likely to have a positive impact on the growth of the polyhydroxybutyrate (PHB) market over the next
couple of years.
Adoption of eco-friendly products is the key area of focus for the governments and
manufacturers. It has intensified the demand for PHB in the manufacturing of
different products such as packaging material, mulch films, and medical
devices. This upsurge in demand is likely to become a major factor responsible for driving the expansion of the polyhydroxybutyrate (PHB) market through the
assessment period.
PHB is gaining momentum in the market owing to the rising
awareness about the harmful effects of
non-biodegradable products on the environment. In
addition, the favorable laws enforced are anticipated to further boost
the proliferation of the polyhydroxybutyrate
(PHB) market.
The rising demand for PHB from the food & beverage
industry is an important factor favoring the expansion of the polyhydroxybutyrate (PHB) market. The changing
lifestyle and food habits coupled with rising disposable income and standards
of living have generated massive demand for packaged food. This, in turn, is expected to expand the polyhydroxybutyrate (PHB) market in the
foreseeable future. Furthermore, the rising demand for bin bags, cling films,
and garbage bags from packaging industry, as well as growing demand for
packaging from the personal care industry, is anticipated to propel the
expansion of the polyhydroxybutyrate
(PHB) market in the forthcoming years. However, expensiveness of PHB based
polymer remains an impediment to the market growth.
Market Segmentation:
By application, the polyhydroxybutyrate
(PHB) market has been segmented into medical
devices, packaging, mulch films, and others.
By end-use industry, the polyhydroxybutyrate
(PHB) market has been segmented into
pharmaceutical, food, agriculture, automotive and others.
Regional Insights:
The polyhydroxybutyrate
(PHB) market, by region, has been segmented into Asia Pacific, Europe, Latin
America, North America, and Middle East & Africa. Asia Pacific is expected
to strike a relatively higher CAGR owing to rising demand across different
verticals such as packaging, pharmaceutical, agriculture, automotive, etc. The
fast-developing economies such as China and India are likely to emerge as vital country-level markets over the assessment
period owing to the growth of the end-user
industries.
Europe is predicted to hold the largest
market share in the
forthcoming years. The consolidation of major developed economies such as
Germany, Sweden, Italy, the U.K., etc. are poised
to complement the expansion of the market over 2023.
North America is prognosticated to exhibit steady growth due
to rising inclination towards the
adoption of biodegradable plastic. The U.S. is
anticipated to lead the regional market for pharmaceutical, food,
agriculture, and automotive through the forecast period.
The Middle East & Africa is set to expand moderately over
the forecast period. The factors such as technological advanPolyhydroxybutyrate (PHB)s, and implementation of cultivation
techniques for crop production are expected to revolutionize the polyhydroxybutyrate (PHB) market in the region
over the next couple of years.
Competitive Dashboard:
ü BASF SE
ü TianAn Biologic Materials Co., Ltd.
ü PHB Industrial S.A
ü Biomer
ü Bio-On
ü Tepha Inc
ü Telles, LLC
Industry News:
In April 2018, The NASA, aeronautics and aerospace research center, has tested human
waste for 3D printing of tools in space. The process relies on the conversion
of genetically engineered Escherichia coli bacteria into polyhydroxybutyrate.
In June 2018, Bio-on, Italian bio-plastics leaders, has
inaugurated its plant dedicated to the production of 100% natural and
biodegradable special PHA bioplastics.
Browse Full Report by Market Research Future@ https://www.marketresearchfuture.com/reports/polyhydroxybutyrate-market-4017
No comments:
Post a Comment