Portland, OR -- (SBWire) -- 06/29/2017 --Polyhydroxyalkonates (PHA) are biodegradable plastics that are synthesized by microbial fermentation of glucose or sugar. PHA has been used in the fixation and orthopedic applications, tissue engineering, production of bioplastic, food services, in packaging, pharmaceutical industry and agriculture. Innovative properties of PHA can bring additional value to the applications in which they are used. It is expected that advancement in the industrialization process of PHA would drive the cost of PHA and make it an alternative for conventional plastic.
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Global PHA market is driven by the increasing demand for renewable, eco- friendly, and bio- based materials such as bagasse, zein, casein, plantstarch, etc. Other driving force is its bio- medical applications such as bone-marrow scaffolds, cardiovascular patches, nerve repair devices, bone, etc. High demand for packaging, followed by food services is also contributing to the growth of the market. However, R&D facilities and high cost of raw materials, which is 20% to 80% higher than the cost of raw materials of conventional plastics, are few of the challenges faced by this market. The opportunities that would help in the growth of this market are the rapid technological changes and increased investment in R&D by the developed countries.
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KEY MARKET SEGMENT
Polyhydroxyalkonates (PHA) market is segmented on the basis of product types, applications and geographies.
- Market by Product Types
- Copolymerized PHA
- Linear PHA
- Market by Applications
- Agriculture
- Food Services
- Packaging
- Bio-medical
- Others (Disposable items)
- Market by Geography
- North America
- Europe
- Asia Pacific
- RoW
Global Polyhydroxyalkanoate (PHA) Market - Opportunities and Forecasts, 2014 - 2022