Portland, OR -- (ReleaseWire) -- 07/07/2014 -- Polyhydroxyalkonates (PHA) are plastics that are bio-degradable and are synthesized through sugar or glucose. PHA is utilized in tissue engineering, food services, packaging, production of bioplastics, pharmaceutical industry, agriculture and orthopedic & fixation procedures. Its superior properties are proving to be immensely helpful in the above sectors.
Commercialization of PHA would make it cost-effective, which in turn would make it a more suitable alternative for plastics.
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Growing demand for eco- friendly, bio- based and renewable materials such as bagasse, casein, zein and plantstarch would drive the growth for PHA market. Further, its medical applications such as cardiovascular patches, bone-marrow scaffolds, bone and nerve repair devices, etc. are also helping the market to grow. However, inadequate R&D facilities and high-priced raw material would deter market growth.
The product markets within PHA are copolymerized PHA and linear PHA. Copolymerized PHA generates the maximum revenue due to enhanced properties such as flexibility & toughness and skyrocketing demand for biodegradable materials.
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PHA Application Market consists of agriculture, packaging, food services, bio-medical and others. Packaging industry generates the maximum revenue due to its numerous applications.
In terms of geography, the market is segmented into North America, Europe, Asia Pacific and RoW. Europe generates the maximum revenue followed by Asia-Pacific due to rising per capita income and substantial availability of capital.
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