The Polyhydroxyalkanoate (PHA) market 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%. The demand for PHA in this market is increasing in due to the growth in the demand for biodegradable materials. PHA has a lower carbon footprint as compared to the petrochemical-based polymers that cause greater environmental pollution.
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The global market for PHA is led by major players such as, Metabolix, Inc. (U.S.), Kaneka Corporation (Japan), Meredian Holdings Group, Inc. (U.S.), Shenzhen Ecomann Biotechnology Co., Ltd (China), BioMatera Inc. (Canada), Biomer (Germany), Bio-On Srl (Italy), Newlight Technologies, LLC (U.S.), PHB Industrial S.A. (Brazil), PolyFerm Canada, Inc. (Canada), TianAn Biologic Materials Co., Ltd. (China), and Tianjin GreenBio Materials Co., Ltd. (China). These players have adopted various strategies to expand their global presence and increase their market shares. New product launches, expansions, and partnerships, collaborations, contracts & agreements are some of the strategies adopted by these players to achieve growth in the market.
The growth of the PHA market was largely influenced by partnerships, collaborations, contracts & agreements during the past five years. Strategies such as, new product launches, expansions and agreements were adopted by the top players in the market in 2015. Companies such as Metabolix Inc. (U.S.), Kaneka Corporation (Japan), Biomer (Germany), Bio-On Srl (Italy), and Newlight Technologies, LLC (U.S.) adopted strategies such as collaborations, partnerships, contacts & agreements to expand their product portfolios. The PHA market also witnessed several new product launches between January 2011 and September 2016.
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Kaneka Corporation (Japan), a global manufacturer of PHA based bioplastics, adopted various strategies such as agreements, collaborations, and expansions to expand its business globally. The company has maintained the development of biopolymers as its key strategy and will continue to do so in the future. This has led to the successful development of its PHA biopolymer, AONILEX. The company signed an agreement with BIOTEC GmbH & Co. KG (Germany) for the joint development of eco-friendly and biodegradable plastics. These bioplastics can be used in various applications including, flexible & rigid packaging and pharmaceuticals.
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Meredian Holdings Group, Inc. (U.S.), expanded its research and development facilities in Georgia. It signed an agreement with the University of Georgia in May 2015, which allows the company to use the equipment of the University. This has helped the company to work towards developing new technologies for the production of PHA. The company acquired the patented PHA technology from Proctor & Gamble and plans to meet the global demand for bioplastics through its technologically advanced PHA plastics. The company strongly focuses on innovations through extensive R&D activities. It is expanding its R&D capabilities to develop new blends of PHA and PLA polymers and improve the performance of bioplastics.
