Polyhydroxyalkanoate (PHA) Market to Reach $93.5 Million by 2021 - Driven by Increasing Focus on Sustainability

The global market for Polyhydroxyalkanoate (PHA) is projected to grow from an estimated USD 73.6 million in 2016 to USD 93.5 million by 2021, at a CAGR of 4.88%. With the increasing focus on sustainability and favorable governmental green procurement policies, the market for biodegradable plastics such as PHA is expected to grow at a high rate. However, the cost of production of PHA based bioplastics is higher than that for conventional plastics, which could restrain the growth of the market.

The global market for Polyhydroxyalkanoate (PHA) is projected to grow from an estimated USD 73.6 million in 2016 to USD 93.5 million by 2021, at a CAGR of 4.88%. With the increasing focus on sustainability and favorable governmental green procurement policies, the market for biodegradable plastics such as PHA is expected to grow at a high rate. However, the cost of production of PHA based bioplastics is higher than that for conventional plastics, which could restrain the growth of the market.

The packaging segment is projected to be the fastest-growing in the PHA market during the next five years. PHA is a biodegradable polymer which decomposes naturally due to the actions of environmental microorganisms on it, and can be used in various types of packaging such as, rigid, flexible, loose fill, and compost bags.

The market for PHA is segmented on the basis of regions into, North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe accounted for the largest share of the total demand generated by the global PHA market in 2015, owing to the fact that focus on sustainability is high in the European region, especially in the European Union region. The Asia-Pacific region is projected to be the fastest-growing market for PHA during the forecast period, owing to the growth in the economies and the rapid growth in the bio medical and packaging sectors.

Companies Mentioned

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Sources Of PHA Production

8 PHA Market, By Type

9 PHA Market, By Manufacturing Technology

10 PHA Market, By Application

11 PHA Market, By Region

12 Competitive Landscape

13 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/v6x5pv/polyhydroxyalkanoa

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716