Press release
Polyhydroxybutyrate Market Expected to Expand at a Steady CAGR through 2017 – 2027
Global Polyhydroxybutyrate Market: Dynamics
Increasing usage of polyhdroxybutyrate in packaging material such as cling films, bin bags, and garbage bags is expected to uplift the global polyhdroxybutyrate market in the coming future. The growing consumption of packaged food has also propelled the usage of polyhydroxybutyrate in food processing industry. Moreover increasing government initiatives and norms made by environmental agencies coupled with rising consumer wakefulness concerning the harmful effects of the non-biodegradable packaging materials along with environmentally friendly nature of the product is driving the polyhydroxybutyrate market growth. However, high price of polyhydroxybutyrate based polymers as compared to conventional polymers expected to hinder the polyhydroxybutyrate market growth over the forecast period.
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Global Polyhydroxybutyrate Market: Segmentation
Global polyhydroxybutyrate market can be segmented on the basis of applications, end use industry and regions.
On the basis of applications, global polyhydroxybutyrate market can be segmented as
Medical Devices
Mulch Films
Packaging
Others
On the basis of end use industry, global polyhydroxybutyrate market can be segmented as
Food & Beverage Industry
Automotive Industry
Pharmaceutical Industry
Agriculture Industry
Others
Global Polyhydroxybutyrate Market: Regional Outlook
Asia pacific is anticipated to grow at the higher rate over the forecast period owing to rising demand from many end use industries such as food, pharmaceutical, agriculture, and automotive. In Asia Pacific the demand for biodegradable plastic is expected to increase mainly in developing countries such as China and India, owing to increasing pharmaceutical and food industries in these countries. Western Europe is expected to dominate the global polyhydroxybutyrate market owing to presence of paper and biodegradable packaging industries. In this region, countries such as Germany, UK, Italy, and Sweden are anticipated to be leading consumer of polyhydroxybutyrate markets and are expected to witness above average growth in the next coming years. North America is expected to witness a steady growth in the usage of biodegradable plastic and paper over the forecast period. U.S is predicted to be the leading polyhydroxybutyrate consumer in this region followed by Mexico and Canada. Latin America is also predicted to show a positive growth in the usage of polyhydroxybutyrate over the forecast period. The Middle East & Africa is estimated to witness substantial growth over the forecast period. This is mainly due to increasing technological advancement together with implementation of cultivation techniques to boost crop production is expected to uplift the product demand in countries like South Africa.
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Global Polyhydroxybutyrate Market: Market Participants
Some of the main market participants of global polyhydroxybutyrate market are namely
BASF SE
Biomer
TianAn Biologic Materials Co., Ltd.
POLYHYDROXYBUTYRATE Industrial S.A
BIO-ON
Telles, LLC
TEPHA INC
Wacker Chemie AG
Triveni Interchem Pvt Ltd
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