Polyhydroxyalkanoate (PHA) Market to Be On the Rise through 2021, Predicts M&M in Its New Research Study Provided at MarketPublishers.com
03 Feb 2017 • by Natalie Aster
LONDON – As of 2016, the global market for polyhydroxyalkanoate (PHA) was assessed at USD 73.6 million, in terms of value. By 2021, the market value is likely to hit the USD 93.5 million mark with its CAGR (for 2017-2021) almost reaching 5%. Growth in this market is likely to be encouraged by the rising focus on sustainability, favourable governmental green procurement norms and policies as well as rising demand for biodegradable plastics (like PHA). However, the high cost of PHA-based bioplastics production if compared with conventional plastics could hamper the market growth.
The packaging segment of the total market is slated to grow at the fastest pace through 2021. As a biodegradable polymer, PHA can be applied in the production of manifold types of packaging, including flexible and rigid packaging, loose fill and compost bags, amid others.
In 2015, Europe ranked the top regional market for polyhydroxyalkanoate (PHA) with the lion’s share in the total market due to enhanced concerns about sustainability in Europe and especially in the EU. In the meantime, APAC is set to grow at the fastest pace through 2021 given significant growth in the economies and remarkable upturn in the bio medical and packaging sectors.
New topical research publication worked out by MarketsandMarkets (M&M), “Polyhydroxyalkanoate (PHA) Market by Type, Manufacturing Technology, Application - Global Forecast to 2021”, offers a 360-degree analysis of the world’s PHA market scenario, providing a detailed market assessment on the basis of product types, manufacturing technologies, applications and regions. Market competitive environment is thoroughly examined in the report and the key industry players are profiled here. The existing and emerging products, key business strategies, new products and technologies launches, M&A, partnerships, agreements, JVs and recent developments of the companies active in the market for PHA are highlighted in this comprehensive report. Moreover, the report includes a full assessment of the main market macroeconomic indicators, discusses the major market trends both current and future possible, and casts light on the market dynamics, covering growth drivers, challenges and hinders. Future forecasts for the market through 2021 are at hand in this comprehensive research report.
All cutting-edge research reports elaborated by M&M can be found at its page MarketPublishers.com.