According to TechSci Research report, “Global Polyhydroxyalkanoate Market By Type (Short Chain Length, Medium Chain Length, Others), By Application (Packaging & Food Services, Biomedical, Agriculture and Others), By Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), By Region, Competition, Forecast & Opportunities, 2025”, global polyhydroxyalkanoate market is expected to grow at a formidable CAGR during the forecast period. Increasing initiatives by national governments in terms of offerings such as subsidiaries and tax grants for the increased use of biodegradable materials is one of the major factors accounting for the growth of the global polyhydroxyalkanoate market. Moreover, booming packaging and healthcare industries is further expected to bode well for the growth of global polyhydroxyalkanoate market through 2025. In addition to this, ongoing research and development activities so that cost of PHAs can be minimized is creating new growth opportunities for global polyhydroxyalkanoate market. Furthermore, usage of PHAs in several bio-medical applications like cardiovascular patches, bone-marrow scaffolds, nerve repair devices, bone, among others is another factor, which is anticipated to give healthy push to the growth of global polyhydroxyalkanoate market in the coming years. However, high cost of raw materials and performance issues are the major factors that might restrain the growth of global polyhydroxyalkanoate market through 2025.
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Global polyhydroxyalkanoate market can be segmented based on type, application, production method, company and region. Considering the type, the market is fragmented into short chain length, medium chain length and others. The short chain length PHAs segment dominated the global polyhydroxyalkanoate market until 2019 and is further anticipated to lead the market in terms of both value and volume during the forecast period as well on account of its outstanding properties which includes higher toughness, better flexibility and soaring demand of biodegradable materials. Additionally, increased understanding regarding plastic waste creation leading to ecological imbalance has positively changed the market sentiments towards the utilization of sustainable products, therefore creating a rise in demand for biodegradable plastics. This factor plays a crucial role in fueling the growth of segment across the globe.
Kaneka Corporation, Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd, Bio-On Spa, Newlight Technologies, LLC, TianAn Biological Materials Co. Ltd, Rwdc Industries, Bochemie, Biomer, Polyferm Canada, Incare among others are the leading players operating in global polyhydroxyalkanoate market. The players are adopting several growth strategies to enhance the market scenario of polyhydroxyalkanoate. Other competitive strategies include mergers & acquisitions to diverse their product portfolio in order to strengthen their market position.
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“Europe is forecast to dominate the global polyhydroxyalkanoate market during the next 5 years on the account of presence of major industry players such as such as Bio-on, Biomer, Natureplast, ColorFabb, and EarthBi in the region. Moreover, mounting use of biodegradable plastic in agriculture, packaging & food service, bio-medical applications is also contributing to the growing trend. Furthermore, rise in the consumer’s disposable income along with the existence of large amount of capital by numerous industries resulting in increased investment in R&D are some other factors that are expected to boost the growth of global polyhydroxyalkanoate market in Europe through 2025. Also, Asia-Pacific is expected to witness the high growth during the forecast years, which is accredited to the presence of large manufacturing industries in this region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Polyhydroxyalkanoate Market By Type (Short Chain Length, Medium Chain Length, Others), By Application (Packaging & Food Services, Biomedical, Agriculture and Others), By Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global polyhydroxyalkanoate market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global polyhydroxyalkanoate market.
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