Polyhydroxyalkanoate (PHA) is biodegradable linear polyesters produced
naturally by the chemical reaction of bacterial fermentation on lipids or
sugar. PHAs can be combined with a wide array of monomers which results in the
formation of different types of materials exhibiting a variety of properties.
PHAs are used in several applications including packaging of food &
beverages and cosmetics, bio-medical applications and agricultural films among
others.
Rising demand for biodegradable materials owing to the rising
awareness among consumers regarding environment protection is expected to be
one of the primary factors driving the growth of the market. In addition, supporting
initiatives such as subsidiaries and tax grants which are being offered by
several national governments is expected to boost the market for PHAs over the
forecast period. Furthermore, growth of the packaging and healthcare industries
are expected to augment the demand for PHAs, as more and more consumers are
looking at bio-friendly solutions. However, higher costs of PHAs as compared to
conventional polymers are expected to hamper the growth of the market. Focus on
reducing the production costs of PHAs is expected to be a new opportunity for
the growth of the market in the near future.
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Europe was the largest market for PHA over the past few years. However,
Asia Pacific is expected to witness the fastest growth over the forecast
period. Presence of a large manufacturing industry is expected to drive the
growth of the PHA market in this region. Moreover, increase in disposable
income of consumers coupled with rising awareness regarding eco-friendly
materials is expected to contribute to the growth of the market significantly.
Some of the key players present in the global PHA market include
Biomatera, Biomer, Kaneka Corporation, Meredian Inc., Metabolix Inc., PHB
Industrial S.A., Shenzhen Ecomann Biotechnology Co. Ltd. and Tianjin Greenbio
Materials Co. Ltd. among others.
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