Polyhydroxyalkanoate (PHA) Market- Global Industry Analysis and Forecast (2022-2029)

Polyhydroxyalkanoate (PHA) Market size was valued at US$ 71.11 Mn. in 2021 and the total Polyhydroxyalkanoate (PHA) revenue is expected to grow by 14.7% from 2022 to 2029, reaching nearly US$ 213.02 Mn.
Polyhydroxyalkanoate (PHA) Market Overview:
PHAs, or polyhydroxyalkanoates, are polyesters created in nature by a variety of organisms, particularly bacterial fermentation of carbohydrates or lipids. They act as sources of energy as well as carbon storage when created by bacteria. Within this class, more than 150 distinct monomers can be coupled to produce compounds with vastly varied characteristics. These biodegradable polymers are utilized in the manufacturing of biopolymers.

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The report explores the Polyhydroxyalkanoate (PHA) market's segments (Type, Production Method, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2021. The report investigates the Polyhydroxyalkanoate (PHA) market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Polyhydroxyalkanoate (PHA) market's contemporary competitive scenario.
Polyhydroxyalkanoate (PHA) Market Dynamics:
Different countries’ emphasis on green procurement practices is a major driver of market growth.

Regulatory practices in many areas addressing the purchase of sustainable and environmentally friendly products (green commodities) are important drivers for biodegradable and sustainable PHA-based polymer demand. In Mexico, for example, all non-biodegradable carrier bags were legally banned. The French agricultural ministry encourages biodegradable polymers under the 2005 Law of Agriculture Policy. United Nations Environmental Policy began the Clean Ocean campaign in 2021, and it has now collected commitments from over 45 nations, covering over 55% of the world's shoreline, including India's promise to eradicate single-use plastics by 2022.

A major restraint in the market growth is that PHAs are priced more than common plastics.

In principle, the cost of producing biodegradable polymers e.g. PHA is 25% to 75% greater than that of traditional plastics. This is largely owing to the higher polymerization expense of biodegradable polymers since most technologies are still in the early stages of research. As a result, they have not realized economies of scale. These bio-based technology and materials are still in the early stages of research and have not yet reached the same degree of commercialization as their hydrocarbon equivalents.

Additional raw materials are being made available from biomass e.g. organic waste.

Ingredients derived from non-food products or waste leftovers represent a substantial possibility for the global manufacturing of biodegradable materials. This is due to rising international demand for grains including corn, wheat, oats, and other crops for food, livestock feed, and biofuels. Moreover, the use of non-food raw resources e.g. organic waste, biomass, and decaying plants are anticipated to enhance waste disposal methods. The Chinese government is apprehensive about the use of food crops as raw materials, whereas PHA uses waste leftovers, which is likely to promote domestic bio-plastic demand in China. Rather than relying on actual food supplies, biodegradable plastics producers have a big opportunity to develop raw materials from agricultural residues and other byproducts.

The present manufacturing method is still in its early stages, and different raw materials are being tried for maximum PHA synthesis. Similarly, experiments are being conducted to boost the effectiveness of varieties that reduce the requirement for PHAs. The recovery of PHA from waste results in significant purifying and treatment expenses. PHA output is anticipated to skyrocket if the technique is perfected through careful procurement of raw materials, biological variants, and processing technologies. This is only conceivable if international production is ubiquitous. Presently, manufacturing is unevenly divided, with the United States and China responsible for about 85 percent of total PHA production globally.
Polyhydroxyalkanoate (PHA) Market Segment Analysis:

By Application, the packaging and food services segment is expected to grow at a CAGR of 6.1% in the forecast period. Polyhydroxyalkanoates are regarded as promising polymers for use in containers. They are utilized for a variety of purposes, including plastic containers, films, cartons, sheets, disposable forks, and cutlery. PHA usage from processing and food service applications is estimated to rise because of the rising demand for biodegradable polymers and public programs in various nations.

Packaging is one of the most important factors addressed by manufacturers to ensure physical appeal to customers. The international packaging sector is growing rapidly, thanks to an increase in the number of production plants, food processing facilities, and industrial output. The packaging business has been through a transformation in the last decade, with the manufacturing and processing sectors transitioning to flexible packaging. As a result, the international packaging industry's need for flexible packaging applications is constantly increasing resulting in a higher demand for PHA.
Polyhydroxyalkanoate (PHA) Market Regional Insights:
The most prospective market for PHA and allied sectors, such as acrylic chemical intermediate, is Europe. The region is known for its inventive growth and strict rules. The primary driving factors responsible for market growth in Europe are federal regulations encouraging the use of biodegradable polymers and increased consumer understanding. The demand for environment-friendly materials is pushing bioplastics research. Single-use plastics and sustainable products are in high demand in the packaging applications service industries. This boosts the need for bioplastics, which drives the polyhydroxyalkanoate (PHA) market. Additionally, there are numerous PHA producers in the European area e.g. Biomer and Bio-On, which have a significant domestic market in the region, giving them the highest market share.

Plastic garbage creation is a big issue in North America. Many rules against single-use polymers have been enacted at the municipal and national levels in USA and Canada. Mounting carbon emissions, as well as waste disposal difficulties, are likely to drive market growth in this region during the forecast period. This area places a strong emphasis on the manufacture of high-quality plastic containers for a variety of sectors and end-use industries. In the North American area, biodegradable plastics are utilized in sectors e.g. packaging & bags, consumer products, agricultural, textile, and others. (Biomaterials, automobiles, and building & construction). Therefore PHA is expected to have significant trade opportunities in the USA, Canada, and Mexico during the forecast period.

The objective of the report is to present a comprehensive analysis of the Polyhydroxyalkanoate (PHA) market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Polyhydroxyalkanoate (PHA) market dynamics, and structure by analyzing the market segments and projecting the Polyhydroxyalkanoate (PHA) market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Polyhydroxyalkanoate (PHA) market make the report investor’s guide.
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Global Polyhydroxyalkanoate (PHA) Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 71.11 Mn.


Forecast Period 2022 to 2029 CAGR:
14.7 %
Market Size in 2029:
US $ 213.02 Mn.


 Segments Covered:
by Type
• Short Chain Length
• Medium Chain Length


by Production Method
• Sugar Fermentation
• Vegetable Oil Fermentation
• Methane Fermentation


by Application
• Packaging & Food services
• Biomedical
• Agriculture
• Others



Polyhydroxyalkanoate (PHA) Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Polyhydroxyalkanoate (PHA) Market Key Players
• Bio-on SpA
• CJ CheilJedang Corp.
• Danimer Scientific
• Full Cycle Bioplastics
• Genecis Bioindustries Inc.
• Kaneka Corporation
• PolyFerm Canada
• RWDC Industries
• Tepha Inc.
• TerraVerdae Inc.
• Tianjin GreenBio Materials Co., Ltd.
• Shenzhen Ecomann Biotechnology Co Ltd
• Newlight Technologies LLC
• Tianan Biologic Materials Co Ltd
• Biomer
• Bochemie

FAQs:

1. Which is the potential market for Polyhydroxyalkanoate (PHA) in terms of the region?
Ans. Europe is the potential market for Polyhydroxyalkanoate (PHA) in terms of the region.

2. What are the opportunities for new market entrants?
Ans. Additional raw materials are being made available from biomass e.g. organic waste.

3. What is expected to drive the growth of the Polyhydroxyalkanoate (PHA) market in the forecast period?
Ans. Different countries’ emphasis on green procurement practices is a major driver of market growth.

4. What is the projected market size & growth rate of the Polyhydroxyalkanoate (PHA) Market?
Ans. Polyhydroxyalkanoate (PHA) Market size was valued at US$ 71.11 Mn. in 2021 and the total Polyhydroxyalkanoate (PHA) revenue is expected to grow by 14.7% from 2022 to 2029, reaching nearly US$ 213.02 Mn.

5. What segments are covered in the Polyhydroxyalkanoate (PHA) Market report?
Ans. The segments covered are Type, Production Method, Application, and Region.