MarketResearch.com Report – Rising Oil Prices are Attracting Companies to Invest in the Polyhydroxyalkanoate Market

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"Companies trying to produce PHA in the near future are opting to increase the performance of their products through investments in R&D."

Rockville, MD (PRWEB) May 07, 2013

Rising demand of biodegradable materials, positive attitude of governments towards green procurement policies, and rising oil prices are attracting companies to invest in PHA (Polyhydroxyalkanoate) market. Many large companies such as Meredian (U.S.), Ecomann (China), and Bio-on (Italy) are focusing on increasing production capacities.

Large number of companies, particularly small and middle-sized ones, initiated the experimental and industrialized manufacturing of all types of PHAs. PHA can be produced using various renewable raw materials. Currently, majority of PHA is produced using plant sugar, which can be easily obtained from sugarcane, corn sugar, and sugar beet, making it an ideal raw material for PHA. Considerable amount of PHA is also produced using plant or vegetable oils such as soybean oil, palm oil, and corn oil. Waste lipids and milk whey are the other raw materials at experimental stage and can be commercialized soon.

Although the existing PHA plant capacities are underutilized at present, the companies are still planning for further capacity expansions. Analyzing the wide range of possible applications and upcoming trends of biodegradable plastics, companies are expecting significant growth in PHA demand in the near future. Currently, high prices and performance issues are the two major restraints for PHA market. Generally, the cost of production of biodegradable plastics such as PHA is 20% to 80% higher than the conventional plastics. This is primarily due to the high polymerization cost of biodegradable plastics as most of the processes are still in the developmental stage. PHA is at its initial stage of technology cycle and not yet achieved economies of scale. The market is at a stage where there is high capacity but low consumption. Most of the players are into research and development for increasing the performance of their produced PHA.

In the future, with an increase in production, the prices will come down. Companies trying to produce PHA in the near future are opting to increase the performance of their products through investments in R&D. This is to ensure that the new products developed are more distinguished and revolutionary in terms of features than the ones already available. Lower prices and improved performance of PHA will boost its demand in future.

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