Polyhydroxy Butyrate Market by Type, End-Users and Region – Global Market Size Estimation, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
Polyhydroxy Butyrate Market was valued at USD 130.01 Mn. in 2023 and is expected to reach at USD 329.34 Mn. by 2030 at a CAGR of 14.2% over forecast period.
The report covers an in depth analysis of COVID 19 pandemic impact on Global Polyhydroxy Butyrate Market by region and on the key players revenue affected till April 2021 and expected short term and long term impact on the market.
Polyhydroxy Butyrate Market Dynamic’s:
Synthetic polymers are non-degradable and accumulated in the environment so, the efforts of scientists were forwarded to provide us with alternative environmentally biopolymers. To overcome the hazardous impact of commercial plastics, there is an alternative of biopolymers such as aliphatic polyesters, polylactide, and polyhydroxyalkanoates.
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Polyhydroxybutyrate (PHB) is one of the members of polyhydroxyalkanoates are the more promising candidate due to its biodegradable and eco- friendly property.
Polyhydroxybutyrate is produced by bacteria, fungi, molds etc. Polyhydroxybutyrate is eco-friendly plastic which has a wide range of applications. Polyhydroxybutyrate (PHB) is group of the interesting biopolymers which have several medical applications such as drug delivery, suture, scaffold and heart valves. Various factors such as increasing environmental regulations and rising concerns related to plastic waste accumulation and increasing use of PHB bioplastics as a substitute for polyolefin commodities like polypropylene (PP) and polyethylene (PE) are driving the market growth over forecast period.
However, factors such as high price of polyhydroxybutyrate based polymers as compared to conventional polymers, stringent regulations are expected to restrain the market growth over forecast period.
Polyhydroxy Butyrate Market Segment Analysis
Polyhydroxy Butyrate Market is segmented by type, by end user and by Region.
By end user, packaging end user dominated the global market in 2023 and is expected to keep its dominance over forecast period. Polyhydroxybutyrate (PHB), exhibits excellent thermoplastic characteristics and resemble synthetic polymers to a larger extent, making them useful for extensive synthetic packaging based applications. Packaging end user segment is followed by biomedical and consumer end user segment. Biomedical end user is expected to hold xx% of market share over forecast period.
Polyhydroxybutyrate is produced by bacteria, fungi, molds etc. Polyhydroxybutyrate is eco-friendly plastic which has a wide range of applications.Polyhydroxybutyrate are useful for biomedical applications including tissue regeneration devices, repair devices, repair patches and sutures. PHB has been the most promising biodegradable plastics and as an alternative to petrochemical plastics. This is due to their biocompatibility, biodegradability and versatile properties make it an eco-friendly substitute for synthetic polymers.
Polyhydroxy Butyrate Market Regional Insights
By geography, Asia pacific dominated the global market with 42.45% of market share in 2023 and is expected to keep its dominance over forecast period owing to rising demand from many end use industries such as food, pharmaceutical, agriculture, and automotive. Moreover, factors such as rising industrialization coupled with the increase in disposable income is rising demand for packaged foods and packing films and increasing environmental concerns &strict restrictions imposed on the usage of plastic goods are propelling the market growth over forecast period. Japan is the leading country in thisregion and is expected to grow at xx% of CAGR over forecast period.
Kaneka Corporation (Japan) is leading market player in Japan. Kaneka manufacture Polyhydroxy Butyrate for various end users. Kaneka Polyhydroxy Butyrate is produced by a microorganism fermentation process, in which plant oils and its fatty acids are used as a primary raw material. PHBH shows excellent biodegradable properties under natural conditions such as in soil and in sea and it will be eventually degraded into CO2 and H2O through the digestive process of micro-organisms existing in the environment. Kaneka Takasago factory has been producing PHBH since 2011. The pilot production, has a capacity of 1,000 MT/y. The pilot production capacity will be up scaled to 5,000 MT/y by December 2021.
APAC is followed by Europe and North America. Europe is expected to hold xx% of market share over forecast period owing to the reduced dependency on fossil fuels and rising demand for sophisticated biopolymers. An increasing use of biopolymers in biomedical industry coupled with the strong R&D in the region is boosting the market growth in this region.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants.These key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, strategic alliances, expansion, joint ventures, new product launches, patent and diversification to increase regional presence and business opeartions.
The objective of the report is to present a comprehensive analysis of the Global Polyhydroxy Butyrate Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.
Polyhydroxy Butyrate Market Scope: Inquire before buying
| Polyhydroxy Butyrate Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 130.01 Mn. |
| Forecast Period 2024 to 2030 CAGR: | 14.2% | Market Size in 2030: | USD 329.34 Mn. |
| Segments Covered: | by Type | Powder Film Sheet Granules |
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| by End-Users | Packaging Biomedical Consumer Goods Agriculture Others |
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Polyhydroxy Butyrate Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Polyhydroxy Butyrate Market, Key Players
1. Biome Technologies PLC (UK)
2. Kaneka Corporation (Japan)
3. BASF SE (Germany)
4. PolyFerm Canada (Canada)
5. FULL CYCLE BIOPLASTICS(USA)
6. Cardia Bioplastics (Australia)
7. Tianjin GreenBio Materials Co., Ltd (China)
8. TianAn Biologic Materials Co., Ltd. (China)
9. Green Dot Bioplastics (USA)
10. AGRANA Beteiligungs-AG(Austria)
11. Telles, LLC
12. TEPHA INC
13. Wacker Chemie AG
14. Triveni Interchem Pvt Ltd
15. PHB Industrial S.A.
16. Biomer
17. POLYHYDROXYBUTYRATE Industrial S.A
18. Shenzhen Ecomann Biotechnology Co, Ltd
19. Danimer Scientific
20. RWDC Industries
21. Newlight Technologies LLC
22. Bochemie
Frequently Asked Questions:
1. Which region has the largest share in Global Polyhydroxy Butyrate Market?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Polyhydroxy Butyrate Market?
Ans: The Global Polyhydroxy Butyrate Market is growing at a CAGR of 14.2% during forecasting period 2024-2030.
3. What is scope of the Global Polyhydroxy Butyrate Market report?
Ans: Global Polyhydroxy Butyrate Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Polyhydroxy Butyrate Market?
Ans: The important key players in the Global Polyhydroxy Butyrate Market are – Biome Technologies PLC (UK), Kaneka Corporation (Japan), BASF SE (Germany), PolyFerm Canada (Canada), FULL CYCLE BIOPLASTICS(USA), Cardia Bioplastics (Australia), Tianjin GreenBio Materials Co., Ltd (China), TianAn Biologic Materials Co., Ltd. (China), Green Dot Bioplastics (USA), AGRANA Beteiligungs-AG(Austria), Telles, LLC, TEPHA INC, Wacker Chemie AG, Triveni Interchem Pvt Ltd, PHB Industrial S.A., Biomer, POLYHYDROXYBUTYRATE Industrial S.A, Shenzhen Ecomann Biotechnology Co, Ltd, Danimer Scientific, and RWDC Industries.
5. What is the study period of this Market?
Ans: The Global Polyhydroxy Butyrate Market is studied from 2023 to 2030.