According to a recently published report by Research Nester on “Polyhydroxybutyrate Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the polyhydroxybutyrate market in terms of market segmentation by applications, by end use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The polyhydroxybutyrate market is anticipated to record a significant growth over the forecast period i.e. 2019-2027. The market is segmented by application & end use industry. The market is segmented by application into packaging, mulch films, medical devices & others. The market is further segmented by end use industry into automotive, pharmaceutical, agricultural, food & beverage and others.
There is an increase in the adoption of eco-friendly products and this is the major focus area for the governments and manufacturers nowadays owing to increase in demand for such products by the consumers. It has supported the demand for polyhydroxybutyrate in manufacturing of different products such as packaging material, medical devices and mulch films. The major challenge for the manufacturers in the market is the high cost associated with the product. Although, with more market players investing in the market, the cost associated may come down in the near future.
Asia Pacific is estimated to have leading shares during the forecast period owing to the increasing demand for PHB from various end use industries such as agriculture, pharmaceutical, automotive, and food. Moreover, demand for biodegradable products is expected to increase in developing countries such as China, India, and Japan on account of rise in food and pharmaceutical industries in these countries. Europe is anticipated to have significant growth and has been largest market for biodegradable packaging and paper industry. Countries in this region have appeared as leading markets and are projected to observe remarkable growth in the near future. North America is expected to witness a stable growth and the U.S. is anticipated to be the largest market in this region followed by Canada and Mexico. Latin America is estimated to be the growing market. Middle East and Africa is estimated to have modest growth on the back of increase in technology with implementation of various cultivation techniques in order to enrich the crop production.
Increase in the usage of PHB in food industry and government initiatives related to preservation of environment and rising awareness are the key drivers is projected to expand the growth of the market over the next few years.
However, high cost and stiff & brittle nature of polyhydroxybutyrate are expected to operate as a key restraint to the growth of polyhydroxybutyrate market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the polyhydroxybutyrate market which includes company profiling of TianAn Biologic Materials Co., Ltd, POLYHYDROXYBUTYRATE Industrial S.A, Biomer, BASF, Tepha Inc., Wacker Chemie AG, and Triveni Interchem Pvt Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the polyhydroxybutyrate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.