Polyhydroxyalkanoate (PHA)- Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Polyhydroxyalkanoate (PHA) Market is accounted for $54.29 million in 2019 and is expected to reach $193.26 million by 2027 growing at a CAGR of 17.2% during the forecast period. The vast availability of renewable and cost-effective raw materials, biodegradability driving the consumption and governments green procurement policies are the major key factors driving market growth. However, high price compared to conventional polymers and performance issues may restrain market growth.
Polyhydroxyalkanoate (PHA) is natural polyester produced by a variety of bacterial species under nutrient restrain conditions with surplus carbon and is found as discrete cytoplasmic inclusions in bacterial cells. PHA is a part of polyhydroxyesters of 3-, 4-, 5- and 6-hydroxy alkanoic acids. PHA is an eco-biomaterial as it is both biodegradable besides bio-based. As PHAs are often derived from renewable sources and are biocompatible, they are progressively gaining acceptance in the world of polymers.
By application, packaging segment held considerable growth during the forecast period due to stringent government regulations against recycling and waste management of petro-based plastics, which led to increased consumption of biodegradable plastics such as PHA in packaging applications. PHA can replace traditional plastics in the near future and can be used in various types of packaging such as, rigid, flexible, and others.
By geography, Europe is expected to grow at a faster rate as it is the most promising market for bio plastics and related industries, including acrylic processing aid. The region is characterized by innovative growth and stringent regulations. The European market is segmented into Germany, France, Italy, UK and Rest of Europe. The government policies supporting the use of biodegradable plastics and increasing awareness among consumers are the key driving factors responsible for the market growth in the European region.
Some of the key players profiled in the Polyhydroxyalkanoate (PHA) include Bio-on SpA, CJ CheilJedang Corp, Danimer Scientific, Full Cycle Bioplastics, Genecis Bioindustries Inc, Kaneka Corporation, Newlight Technologies LLC, PolyFerm Canada, RWDC Industries, Shenzhen Ecomann Biotechnology Co Ltd, Tepha Inc, TerraVerdae Inc, Tianjin GreenBio Materials Co Ltd, Yeild10 Bioscience.
• Short Chain Length
• Medium Chain Length
Production Methods Covered:
• Methane Fermentation
• Sugar Fermentation
• Vegetable Oil Fermentation
• Linear Polyhydroxyalkanoate (PHA)
• Copolymerized Polyhydroxyalkanoate (PHA
Manufacturing Technologies Covered:
• Bacterial Fermentation
• Enzymatic Catalysis
• Food Service
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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