Government regulations towards the adoption policies for eco-friendly and sustainable products is expected to drive the growth of polyhydroxyalkanoate market at a notable pace
Adoption of Sustainable Bio-based Products to Be Emerging Need in Regions across Polyhydroxyalkanoate Market
Rapid increase in packaging and bio-medical industry in APAC is surging the growth of polyhydroxyalkanoate market of the region. Growing concerns regarding usage of the conventional plastics further stimulates the growth of polyhydroxyalkanoate market. Low production costs compared to Europe and North America along with growing applications in cosmetics, food and beverage and agriculture industry in India and China is expected to dive in positive growth prospects for APAC polyhydroxyalkanoate market.
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Regulatory support and increasing inclination towards biodegradable plastics is favoring the growth of Europe polyhydroxyalkanoate market. The competitiveness plan Europe 2020 of European Union for eliminating greenhouse emission as well as promotion of bioplastics industry further underlines significant growth aspects for Europe polyhydroxyalkanoate market. Federal Farm bill has been passed by the U.S. government, indicating the federal agencies for procuring sustainable bio-based products. Increasing availability of the raw materials along with technological developments has been influencing Canada and US in shifting their focus towards the naturally produced polymers from petrochemical derived products, in order to maintain ecological balance, thereby saving production cost and conserving petroleum sources.
Surging Need for Production of Recyclable Products to Boost Revenue Sales of Polyhydroxyalkanoate Market
Better flexibility and higher toughness of copolymerized PHA is driving its demand as the biodegradable packaging material, thereby driving the revenue growth of polyhydroxyalkanoate market. Owing to readily available raw materials, large-scale industries have been making heavy investments in R&D of polyhydroxyalkanoate. PHA production from the municipal wastes is anticipated to be the future trend in polyhydroxyalkanoate market. Stringent government norms against waste-management and recycling of petro-based plastics has led to rising consumption of biodegradable plastics, which in turn dives in growth opportunities for polyhydroxyalkanoate market.
Strategic Collaborations A Key Strategy for Polyhydroxyalkanoate Market Players
Leading market players are taking immense efforts in making heavy investments for entering into collaborations for attaining competitive edge over competitors, which would help them in global business expansion.
- Metabolic Technologies Inc.:The polyhydroxyalkanoate market player has entered into a partnership with TSI Group Ltd for rebranding product portfolio of HMB® ingredient, by transforming it into myHMB®. Sport nutrition brands have been the major contributor towards Metabolic Technologies Inc. revenue growth as the products offer significant recovery and strength benefits to the competitive athletes. This in turn drives the demand for polyhydroxyalkanoate with increasing sports applications expected to develop.
- Kaneka Corporation:The polyhydroxyalkanoate market player is revising on prices of the modified silicone polymer, considering the increasing prices of the raw materials such as naphtha. With increasing utility costs and distribution costs, business environment has turned out to be significantly competitive for Kaneka and therefore is taking immense efforts in implementing suitable prices for maintaining stable supply of its products. This in turn provides significant revenue growth opportunities for polyhydroxyalkanoate market in the long run.
- Danimer Scientific:The polyhydroxyalkanoate market player has recently acquired Winchester’s fermentation facility on Rolling Hills Lane for producing its propriety Nodax™ PHA (polyhydroxyalkanoate) material. This material is supremely beneficial for developing biodegradable and versatile plastic products. The operations are expected to begin by 2019’s fourth quarter. This incredible initiative by Danimer Scientific is anticipated to create substantial revenue growth opportunities for polyhydroxyalkanoate market.
Polyhydroxyalkanoate Market Has Been Categorized On The Basis Of Form and Application
Based on form, polyhydroxyalkanoate market is divided into:
- Co-polymerized PHA
- Linear PHA
Based on application, polyhydroxyalkanoate market is divided into:
- Consumer Goods
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The polyhydroxyalkanoate market research report delivers a detailed analysis of market as well as comprises of thoughtful facts, insights and historical data. Statistically backed and industry-valuated market data is also integrated in polyhydroxyalkanoate market research report. The report further offers projections by means of suitable methodologies and assumptions. The polyhydroxyalkanoate market research report incorporates information and analysis depending on the market categorizations such as industry, regions and applications.