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Polyhydroxyalkanoate Market by Type, Application, and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2020
  • Pages: 120
  • SKU: IRTNTR44293
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The polyhydroxyalkanoate (PHA) market share is expected to increase by USD 18.66 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.70%.

This polyhydroxyalkanoate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers polyhydroxyalkanoate market segmentation by type (copolymerized PHA and linear PHA), application (packaging, biomedical, food service, agriculture, and others), and geography (APAC, Europe, North America, South America, and MEA). The polyhydroxyalkanoate market report also offers information on several market vendors, including Bio-on Spa, Bluepha, CJ CheilJedang Corp., Danimer Scientific, Full Cycle Bioplastics, Kaneka Corp., Polyferm Canada Inc., RWDC Industries, Tepha Inc., and Yield10 Bioscience Inc. among others.

What will the Polyhydroxyalkanoate Market Size be During the Forecast Period?

Polyhydroxyalkanoate Market Size

Download the Free Report Sample to Unlock the Polyhydroxyalkanoate Market Size for the Forecast Period and Other Important Statistics

 

Polyhydroxyalkanoate Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for biodegradable plastics is notably driving the PHA market growth, although factors such as the cost-effectiveness of conventional plastics over PHAs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyhydroxyalkanoate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Polyhydroxyalkanoate Market Driver

The use of biodegradable plastics in numerous applications, such as packaging and domestic goods, has encouraged plastic manufacturers to reduce their over-dependence on petroleum-based plastic products. Hence, plastic manufacturers are using eco-friendly raw materials such as PHAs, which are biodegradable and thermoplastic in nature. The use of PHAs in these applications has encouraged plastic manufacturers to use bio-based plastics. Raw materials used in biodegradable plastic production are renewable in origin, and the supply is abundant as compared to petroleum and fossil raw materials across the globe. Therefore, the global outlook for bio-based raw materials for plastics is significantly high when it is compared to that of petroleum-based raw materials. Hence, the increasing demand for bioplastics across the globe will drive the demand for PHAs during the forecast period

Key Polyhydroxyalkanoate Market Trend

The growth in plastic waste across the globe has led to the enforcement of stringent regulations on the use of plastics. As a result, consumers increasingly prefer eco-friendly plastic products. Moreover, with the growing necessity to reduce plastic waste across the globe, governments in developed and developing countries are taking numerous initiatives. Such initiatives will drive the demand for PHA-based bioplastics during the forecast period. The rising plastic packaging waste production across the globe has forced vendors to consume more green packaging labels as a strategy for branding as well as customer acquisition. The increasing acceptance of sustainable packaging and green products by consumers will drive the global bioplastics market, which will support the growth of the global PHA market during the forecast period.

Key Polyhydroxyalkanoate Market Challenge

One of the biggest challenges for the global PHA market is the cost-competitive inability of PHAs over conventional plastics. The high price of PHA is mainly attributed to the high polymerization cost of PHAs as most of the processes are still in the development stage, and therefore, the production of PHAs has not achieved an economy of scale. The lack of efficient technologies and the unavailability of feedstock are increasing the production cost of PHAs. The rising prices of renewables raw materials, such as glucose, used for manufacturing PHAs are also hindering the market's growth. The high price of PHAs is likely to hinder their adoption as consumers will switch to cheaper conventional resins. Hence, high production costs because of small-scale production by vendors, high R&D costs incurred by vendors, and a substantial price difference between PHAs and conventional petroleum-based products are hindering the demand for PHAs during the forecast period. 

This polyhydroxyalkanoate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

The growth in the global specialty chemicals market will be driven by factors such as the shift toward specialty adhesives and sealants, growing demand for water-soluble polymers for water treatment, and increasing demand from the agrochemical industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyhydroxyalkanoate market during the forecast period.

Who are the Major Polyhydroxyalkanoate Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Bio-on Spa
  • Bluepha
  • CJ CheilJedang Corp.
  • Danimer Scientific
  • Full Cycle Bioplastics
  • Kaneka Corp.
  • Polyferm Canada Inc.
  • RWDC Industries
  • Tepha Inc.
  • Yield10 Bioscience Inc.

 

This statistical study of the polyhydroxyalkanoate market encompasses successful business strategies deployed by the key vendors. The PHA market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Kaneka Corp. - This segment offers PHA, which is a biodegradable polymer that is used in applications such as packaging, biomedical, and agriculture

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The polyhydroxyalkanoate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Polyhydroxyalkanoate Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the polyhydroxyalkanoate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the specialty chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Support activities
  • Innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Polyhydroxyalkanoate Market?

Polyhydroxyalkanoate Market Market segmentation by region

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47% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for polyhydroxyalkanoate in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The growing packaging industry and increasing agricultural activities will facilitate the polyhydroxyalkanoate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of respiratory and infectious diseases in the region may hamper the growth of the regional PHA market. China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines are under partial or full lockdown to control the spread of COVID-19. In March 2020, India imposed a full lockdown to prevent the community spread of the disease. All the manufacturing industries have been severely affected, as their production units have been either closed or halted. This will have a negative impact on the growth of the PHA market in the region during the forecast period.

What are the Revenue-generating Type Segments in the Polyhydroxyalkanoate Market?

Polyhydroxyalkanoate Market Segmentation

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The polyhydroxyalkanoate market share growth by the copolymerized PHA segment will be significant during the forecast period. Copolymerized PHAs are used not only in the medical industry but also in the chemical, agriculture, packaging, and foodservice industries. They are extensively used in these applications because of their cost-effectiveness. Hence, the increasing demand for copolymerized PHAs in major industries such as medical, agriculture, and food service will drive the growth of the copolymerized PHA segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the PHA market size and actionable market insights on post COVID-19 impact on each segment.

 

Polyhydroxyalkanoate Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 5.70%

Market growth 2020-2024

$ 18.66 million

Market structure

Concentrated

YoY growth (%)

4.93

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 47%

Key consumer countries

China, US, Germany, Japan, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bio-on Spa, Bluepha, CJ CheilJedang Corp., Danimer Scientific, Full Cycle Bioplastics, Kaneka Corp., Polyferm Canada Inc., RWDC Industries, Tepha Inc., and Yield10 Bioscience Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Polyhydroxyalkanoate Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive polyhydroxyalkanoate market growth during the next five years
  • Precise estimation of the polyhydroxyalkanoate market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the PHA industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of PHA market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five force summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Packaging - Market size and forecast 2019-2024
  • Biomedical - Market size and forecast 2019-2024
  • Food service - Market size and forecast 2019-2024
  • Agriculture - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Copolymerized PHA - Market size and forecast 2019-2024
  • Linear PHA - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Bio-on Spa
  • Bluepha
  • CJ CheilJedang Corp.
  • Danimer Scientific
  • Full Cycle Bioplastics
  • Kaneka Corp.
  • Polyferm Canada Inc.
  • RWDC Industries
  • Tepha Inc.
  • Yield10 Bioscience Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Polyhydroxyalkanoate market growth will increase by $18.66 million during 2020-2024.
The polyhydroxyalkanoate market is expected to grow at a CAGR of 5.70% during 2020-2024.
Technavio has segmented the polyhydroxyalkanoate market by type (Copolymerized PHA and Linear PHA) ,application (Packaging, Biomedical, Food service, Agriculture, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
Bio-on Spa, Bluepha, CJ CheilJedang Corp., Danimer Scientific, Full Cycle Bioplastics, Kaneka Corp., Polyferm Canada Inc., RWDC Industries, Tepha Inc., Yield10 Bioscience Inc. are a few of the key vendors in the polyhydroxyalkanoate market.
APAC will register the highest growth rate of 46.73% among the other regions. Therefore, the polyhydroxyalkanoate market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the polyhydroxyalkanoate market growth are:
  • Increasing demand for biodegradable plastics
The polyhydroxyalkanoate market vendors should focus on grabbing business opportunities from the copolymerized pha segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Details on the market shares of various regions
  • Five-force market analysis

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