The Global Polyhydroxybutyrate Market report explores the critical analysis of the Polyhydroxybutyrate industry using key parameters. The report consists of investment strategies, the need for investments in the Polyhydroxybutyrate industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Polyhydroxybutyrate industry, as well as how economic and non-economic barriers are helping the Polyhydroxybutyrate market. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
Key Highlights of the report
How are the major segments performing in the Polyhydroxybutyrate Market?
In 2021, medical devices will be the leading segment based on the application due to their oxygen permeability and U.V. resistance characteristics.
In 2021, the food & beverages segment will lead the market due to their lack of toxicity and similarities to their petrochemical counterparts in terms of quality.
Which region dominated the Polyhydroxybutyrate Market?
In 2021, Asia Pacific was one of the major contributors to the global polyhydroxybutyrate market because of increased demand from numerous end-use industries, including food, medicine, agriculture, and the car industry. Factors like increasing industrialization, rising disposable income, rising consumer demand for packaged foods and packaging films, growing environmental concerns, and stringent regulations on the use of plastics in consumer goods are boosting the market's growth over the forecast period.
What is the competitive environment of the Polyhydroxybutyrate Market?
These major key players employ various strategies to maintain their market share in the global polyhydroxybutyrate market. These strategies include mergers and acquisitions, collaboration, setting up joint ventures, forming partnerships, developing new production processes, creating new product lines, innovating with existing products, and many others to increase their customer base and tap the polyhydroxybutyrate market's untapped global market. For instance, in August 2021, Nike partnered with the biotechnology company Newlight Technologies to reduce its carbon footprint. Nike plans to research the use of AirCarbon, a carbon-negative biomaterial developed by Newlight and made by ocean microorganisms. The exchange of greenhouse gases is also used to produce the substance. Similarly, in June 2021, a researcher from RUDN University uncovered how their surroundings impact the polyhydroxybutyrate and polylactide nanofibers of these two organic polymers. The researchers used polyhydroxybutyrate powder and polylactide granules to electrospun six types of fibers.
Executive Summary
What advantages does polyhydroxybutyrate offer?
Polyhydroxybutyrate is a naturally occurring polymer that is partly crystalline (PHB). It aids in the storage of energy during the famine, which is mostly produced by prokaryotic microbes. Numerous bacterial strains are effective polyhydroxybutyrate producers. These are examples of rhizobium, pseudomonas, Nocardia, Bacillus, Azotobacter, Alcaligenes, and numerous other organisms. PHB is also employed as a desirable replacement for plastics made from petroleum because of its non-polluting and biological degradability properties. PHB has many benefits, including oxygen permeability and U.V. ray resistance. It is largely used in the various biomedical and medical industries. It is also employed in manufacturing microcapsules to regulate the release of medications. PHB is also utilized in tissue engineering. The continuous R&D carried out by PHB feeds the global market's demand. Additionally, the growing interest in environmental issues offers expansion prospects.
Which are the key investments by the players in the Polyhydroxybutyrate Industry Market?
The major companies in this market are investing in building their production facilities, investing in R&D, developing their infrastructure, and utilizing integration opportunities throughout the value chain. These tactics help polyhydroxybutyrate producers meet rising demand, maintain competitive effectiveness, create cutting-edge goods and technology, cut manufacturing costs, and increase clientele. For instance, Tianjin GreenBio Materials Co., Ltd. (China) invests a sizeable amount of money in research and development to get an advantage over its rivals. The company will benefit as a result of the increased sales revenue.
Some of the major players in the market are BASF SE, Biomer, TianAn Biologic Materials Co., Ltd., POLYHYDROXYBUTYRATE Industrial S.A, BIO-ON, Telles, LLC, TEPHA INC, Wacker Chemie AG and Triveni Interchem Pvt Ltd.
What are the Major Driving Factors for the Polyhydroxybutyrate Market?
Numerous factors influence market demand. The rise in rules addressing the environment and increasing concern for plastic waste accumulation drive the demand for biodegradable polymers and consequently boost demand for polyhydroxybutyrate. PHB is in high demand because it has thermoplastic properties resembling synthetic polymers. This helps in a variety of applications based on synthetic plastics. PHB is widely employed in this eco-friendly period since it lessens the harmful impacts caused by conventional, petroleum-based plastics and non-degradable polymers. Numerous growth prospects will arise during the anticipated period due to polyhydroxybutyrate's growing replacement of polyolefin products, including polyethylene (P.E.) and polypropylene (P.P.). Additionally, PHB's many benefits, including its use in medical applications and its biocompatibility and nanotechnology, drive market demand and, as a result, present numerous potentials for market expansion worldwide.
What are the Major Risks for the Polyhydroxybutyrate Market?
Poor mechanical qualities of the biopolymer and high production costs limit the usage of PHB in various applications and restrain the market's expansion. Manufacturing PHB, a biodegradable plastic, costs 20% to 80% more than manufacturing traditional plastics. Because most nations are still in the developing stage, it is expensive to use biodegradable plastic. Additionally, because the PHB market is still in its early stages of development, it cannot benefit from economies of scale.
Which is the Key End Use Industry in the Polyhydroxybutyrate Market?
Based on the end-use industry, the polyhydroxybutyrate market is segmented into the food & beverage industry, automotive industry, pharmaceutical industry, agriculture industry, and others. In 2021, the food & beverage industry segment dominated the polyhydroxybutyrate market. The food & beverage sector has seen a rise in demand for biodegradable packaging films due to their non-toxicity and similar qualities to their petrochemical equivalents. This is anticipated to enhance the polyhydroxybutyrate (PHB) market during the projected period. Polyhydroxybutyrate (PHB) is gaining traction in the pharmaceutical industry, a promising field. PHB (polyhydroxybutyrate) has good oxygen permeability and U.V. resistance. It is, therefore, appropriate for use in scaffolds for tissue engineering and microcapsules for controlled drug release.
How is the Polyhydroxybutyrate Market performing in regions?
In 2021, the global polyhydroxybutyrate market was dominated by the Asia Pacific. The market's demand is driven by rising disposable income and rising industrialization. The market demand is also increased by the rising need for packaging films and packaged goods. The market is expected to grow throughout the forecast period due to additional factors such as expanding industrialization, rising disposable income, expanding consumer demand for packaged foods and packaging films, rising environmental concerns, and strict regulations on the use of plastics in consumer goods. The Japan Ministry of Environment has predicted that by 2030, 2 million metric tons of bioplastics will be used annually. The dominant company in the Japanese market is Kaneka Corporation. Kaneka produces polyhydroxybutyrate for a range of consumers.
Besides, the North American region is expected to grow significantly over the forecast period due to the strict regulations surrounding using non-biodegradable plastic garbage. Additionally, nanocomposites based on biopolymers, particularly in the food packaging sector, spur market expansion in this area. The U.S. has the highest market share among all the nations in this region, so it controls the market.
What is the regulatory landscape for the Polyhydroxybutyrate Market?
To decrease plastic consumption, governments in several nations passed limits on plastic trash. Increased EU FDA and EPA regulations are pressuring businesses to use eco-friendly packaging materials in the pharmaceutical, medical, and food sectors. Additionally, the polyhydroxybutyrate market is being driven by an increase in government and environmental agency initiatives and consumer awareness of the consequences of non-biodegradable packaging materials and the eco-friendliness of the products.
What is the Market Size of Polyhydroxybutyrate regarding value?
The Polyhydroxybutyrate Market is anticipated to grow at a substantial CAGR of 18.50% in the upcoming years. The Global Polyhydroxybutyrate industry was estimated to be worth USD 102.4 million in 2021 and was expected to be worth USD 283.53 million by 2028.
What effect does COVID-19 have on the market for Polyhydroxybutyrate?
The global COVID-19 pandemic does not affect the polyhydroxybutyrate market's global market share. Due to the global pandemic, most individuals have lost their means of support. It has impacted various sectors' dynamics and growth. The requirement for packaged food has increased due to contactless activities and growing social isolation, which helps ensure sufficient sanitation and safety. Food and beverages also exhibit a substantial demand when packaged with all the essential precautions.
Segmentation of Global Polyhydroxybutyrate Market-
Global Polyhydroxybutyrate Market – By Applications
Medical Devices
Mulch Films
Packaging
Others
Global Polyhydroxybutyrate Market – By End Use Industry
Food & Beverage Industry
Automotive Industry
Pharmaceutical Industry
Agriculture Industry
Others
Global Polyhydroxybutyrate Market – By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East and Africa
Frequently asked questions about the global Polyhydroxybutyrate industry
COVID-19 is expected not to affect the global Polyhydroxybutyrate market.
The Asia Pacific accounted for the highest share in the global Polyhydroxybutyrate market.
Numerous factors influence market demand. The rise in the rules addressing the environment and increasing concern for plastic waste accumulation drives the demand for biodegradable polymers and consequently boosts demand for polyhydroxybutyrate.
The medical devices segment had a major share in 2021, with more than 40% of the market revenue share.
The food & beverage segment had a major share in 2021, with more than 30% of the market revenue share.
