Polyhydroxy Butyrate Market Size & Share by Application (Packaging, Mulch Films, Medical Devices); End-User (Automotive, Pharmaceutical, Agricultural, Food & Beverage) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Increased Usage of Food Industry- Polyhydroxy butyrate is being used more often in packaging materials like cling films and garbage bags. Moreover, a busy lifestyle and easy access to packaged food have led to an increase in consumption, which is expected to fuel the growth of the polyhydroxy butyrate market throughout the projected period. Approximately 304.36 million Americans ate packaged food in 2020. With a 45.1% market share in the ready-to-eat food sector, the United States leads the world. Polyhydroxy butyrate is a desirable option for several applications since it is non-toxic and biodegradable. Its safe and environmentally beneficial nature allows it to break down into natural elements without leaving any harmful residues when used in food packaging.
• Government Initiatives- Together with environmental organizations, the government is constantly acting and developing legislation to lessen the negative effects of non-biodegradable materials on products that are meant to be environmentally beneficial. Increased consumer knowledge of environmental protection and health issues is another factor that is anticipated to propel market expansion. The market for biodegradable plastics is driven by rising environmental restrictions and growing concern over the accumulation of plastic waste. Currently, over 350 million metric tonnes of plastic trash are produced annually by humans. Global plastic garbage creation is expected to quadruple to a startling one billion metric tonnes by 2060 if current practices remain unchanged.
• Biodegradability and Non-Toxicity- Because polyhydroxy butyrate is non-toxic and biodegradable, it is a desirable option for a variety of applications. It is safe for use in food packaging and medical equipment and environmentally benign due to its capacity to break down into natural elements without leaving behind toxic residues. In 2017, over 45% of the biodegradable plastics available on the global market were biodegradable. This percentage is predicted to significantly rise by 2022, when 48% of biodegradable plastics will exist globally.

Challenges

• High cost associated with polyhydroxy butyrate- The primary obstacle for manufacturers in the industry is the elevated cost of the product. Nevertheless, the cost may decrease soon if more market participants participate in the industry. Petrochemical prices are rising as a result of the depletion of petroleum reserves, which raises the cost of petrochemicals and, in turn, petrochemical-based polymers. This is anticipated to increase demand for alternative, less expensive biodegradable polymers. The cost of polyhydroxy butyrate-based polymers is high in comparison to conventional polymers.
• Polyhydroxy butyrate is brittle and stiff. When PHB is stored at room temperature, it becomes stiff, brittle, and thermally unstable during the processing.
• Poor thermal properties have weakened the growth of the polyhydroxy butyrate market.