Polyhydroxyalkanoates (PHA) Market worth US$ 171.3 Million by 2030 – Exclusive Research Report by DataM Intelligence

September 08 15:08 2023
Polyhydroxyalkanoates (PHA) Market worth US$ 171.3 Million by 2030 - Exclusive Research Report by DataM Intelligence
Polyhydroxyalkanoates (PHA) Market – DataM Intelligence
The Global Polyhydroxyalkanoates (PHA) Market reached US$ 88 Million and is expected to reach US$ 171.3 Million by 2030

Market Overview

Polyhydroxyalkanoates (PHAs) are biopolyesters that are stored as energy storage materials inside cells by different microorganisms. PHAs have a wide range of uses due to their biocompatibility and biodegradability, including the biomedical sector. 

PHAs are employed in a variety of biomedical applications, including tissue engineering, bio-implant patches, medication administration, surgery, and wound dressing. PHAs are green polymers with beneficial social and environmental consequences as compared to regular plastics in terms of manufacture and recycling.

 

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Market Size and Growth Analysis

As per the DataM Intelligence’s latest research the global Polyhydroxyalkanoates (PHA) Market reached US$ 88 Million and is expected to reach US$ 171.3 Million by 2030, growing with a CAGR of 8.7% during the forecast period 2023-2030.

Market Growth Drivers

Increasing Demand for Biodegradable Materials in the Packaging and Food Service Industries

One of the primary reasons driving market expansion is the increased demand for biodegradable materials in the packaging and food service sectors, as these materials will reduce environmental pollution and assist sustainability efforts. Furthermore, growing food packaging demand and the rising need for biodegradable plastics in different kinds of packaging are projected to drive market expansion in the near future.

The Growing Demand for Sustainable Alternatives

The increased global focus on sustainability and the necessity for ecologically friendly materials is driving the market for PHA.  PHA is an enticing alternative to standard plastics because it is biodegradable and generated from renewable resources.

Market Opportunities

Favorable Government Regulations and Policies

Globally, governments are establishing legislation and policies to promote the use of biodegradable materials. As it coincides with many governments’ environmental aims, this allows the PHA market to develop.

Increased Investment in Research and Development for PHA Applications

PHA, a kind of biodegradable polyester, may be produced utilizing both biological and non-biological techniques. PHA refers to polyesters derived from renewable resources such as maize starch or sugar cane bagasse. Companies are substantially investing in research into novel uses for PHA, including biomedical goods, paints and coatings, and textiles. These applications are projected to provide significant market development opportunities.

Market Challenges

The High Cost of Production and Current Technology is Still in its Early Phase is Challenging the Growth of the Polyhydroxyalkanoate Market

One of the biggest obstacles to the industry’s expansion is the greater cost of PHA compared to standard polymers. Biodegradable polymers, such as PHA, often have a 20% to 80% higher production cost than regular plastics. This is mostly owing to the rising cost of biodegradable polymers used in polymerization since most techniques are still in the experimental stage.

 

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Segmentation Analysis

The global polyhydroxyalkanoates(PHA) market is segmented by type, product method, and application.

By Type

  • Short Chain Length
  • Medium Chain Length

By Product Method

  • Sugar Fermentation
  • Vegetable Oil Fermentation
  • Methane Fermentation

By Application

  • Packaging and foodservice
  • Bio-Medical
  • Agriculture
  • Others

Sugar Fermentation Segment Accounted for the Highest Market Share

Higher availability of raw materials and the easy process, major PHA companies are currently producing PHA through the sugar fermentation technique. 

The global polyhydroxyalkanoate (PHAs) market is segmented into vegetable oil fermentation, sugar fermentation, and methane fermentation in terms of production methods. Sugar fermentation has gained the most market share in recent years. Because different strains of bacteria may gather PHA from different sources, different strains are chosen dependent on the input material.

Sugar fermentation is the most common procedure. Molasses, sugarcane, beets, and bagasse may all be used to make sugar. They are abundant in general and are easily absorbed and transformed into PHA by bacteria. Major PHA firms are already generating PHA by this approach due to the increased availability of raw materials and the simpler procedure, since sugar molecules are readily fractured during the fermentation process.

Key Developments of Polyhydroxyalkanoates(PHA) Market

  • Bluepha’s first commercial biodegradable material, PHA factory, which occupies 86,000 sqm and is situated in the Coastal Industrial Park of Jiangsu Binhai Economic Development Zone, opened in January 2022, with an annual PHA capacity of 25,000 tons. The whole factory is split into two stages, with the first phase having a PHA capacity of 5,000 tons per year and is expected to be finished by the end of 2022.
  • In June 2022, Newlight Technologies launched plastic-free AirCarbon-based coated paper products made from regenerative materials. This product is created using a natural carbon capture technique, which results in a moisture-resistant, grease-resistant, and plastic-free paper product.

Polyhydroxyalkanoates (PHA): Regional Analysis

By region the global polyhydroxyalkanoates(PHA) market is segmented into North America, Europe, South America, Asia Pacific, Middle East, and Africa. 

Europe Accounted for the Largest Market Share for PHA Market, in Terms of Value

In terms of value, Europe leads the global PHA market. The area has been at the forefront of biodegradable plastics and is committed to sustainable packaging. As environmental consciousness has grown, Europe has enacted rules and regulations that have resulted in the creation of biological waste treatment facilities. This proactive strategy has resulted in considerable growth rates in the European market, both in terms of value and volume. 

Several nations, particularly Italy and Spain, have implemented strong anti-plastic laws, fueling this trend even further. Notably, European nations demonstrate strong socioeconomic lobbying in support of bioplastics or biodegradable plastics, strengthening the region’s market growth.

Competitive Analysis

The global market key players contributing to the polyhydroxyalkanoates(PHA) market growth include Danimer Scientific, Bio-Mer International, BioMatera Inc, kaneka Corporation, Dayglo Color Corp, Bluepha, Newlight Technologie, PolyFerm Canada, Tepha INC, and Mango Materials.

Mango Materials Overview

The company is based in San Francisco Bay Area that strives to be the global leader in the bio-manufacturing revolution. The company has developed a proprietary platform to provide optimally formulated, biodegradable polyhydroxyalkanoate (PHA) pellets integrated into any supply chain.

 

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