Polyhydroxyalkanoates Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032
The Polyhydroxyalkanoates Market Size accounted for USD 92.6 Million in 2022 and is estimated to achieve a market size of USD 324.7 Million by 2032 growing at a CAGR of 13.6 % from 2023 to 2032.
Polyhydroxyalkanoates Market Highlights
- Global polyhydroxyalkanoates market revenue is poised to garner USD 324.7 million by 2032 with a CAGR of 13.6% from 2023 to 2032
- Europe polyhydroxyalkanoates market value occupied around 35% market share 2022
- Asia Pacific polyhydroxyalkanoates market growth will record a CAGR of more than 14% from 2023 to 2032
- Among type, the short chain length sub-segment generated 59% market share in 2022
- Based on application, the packaging and food service sub-segment generated around 36% market share in 2022
- Based on the production method, vegetable oil fermentation sub-segment generated notable share in 2022.
- Growing demand for eco-friendly materials is a polyhydroxyalkanoates market trend fueling the demand
Polyhydroxyalkanoates (PHA) are a type of polyester formed in nature by various microorganisms, including through bacterial fermentation of lipids and sugars. They serve as both a carbon store and a source of energy when produced by bacteria. PHA is known for its sustainability, eco-friendliness, and biocompatibility, making it a versatile material used in diverse industries such as medicine, agriculture, packaging, and biofuels.
Global Polyhydroxyalkanoates Market Dynamics
Market Drivers
- Growing demand for eco-friendly materials
- Countries importance on green procurement practices
- Increasing anxiety about safety and human healthiness
Market Restraints
- High production charge
- Swift biodegradation of PHA
- Poor thermal properties
Market Opportunities
- Advancement in technology
- Encouraging governmental policies for biodegradable plastic
- Growing focus on sustainability
Polyhydroxyalkanoates Market Report Coverage
| Market | Polyhydroxyalkanoates Market |
| Polyhydroxyalkanoates Market Size 2022 | USD 7.8 Billion |
| Polyhydroxyalkanoates Market Forecast 2032 |
USD 23.6 Billion |
| Polyhydroxyalkanoates Market CAGR During 2023 - 2032 | 11.9% |
| Polyhydroxyalkanoates Market Analysis Period | 2020 - 2032 |
| Polyhydroxyalkanoates Market Base Year |
2022 |
| Polyhydroxyalkanoates Market Forecast Data | 2023 - 2032 |
| Segments Covered | By Type, By Application, By Production Method, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Shenzhen Ecomann Biotechnology Co, Ltd, Kaneka Corporation, Tianjin GreenBio Materials Co., BASF SE, Biome Technologies PLC, Polyferm, Inc, Full Cycle Bioplastics, BIO ON, Cardia Bioplastics, and New Light Technologies LLC. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Polyhydroxyalkanoates Market Insights
Increasing anxiety about safety and human healthiness, boost the demand for PHA market in the forecast year. Conventional plastic contain toxic substances which poses the risk to human safety and health. Polyvinyl chloride (PVC) is the example behind it. Ulcer, genetic disorder, vision impairment, deafness, these are the numerous health disorder associated with the polyvinyl chloride (PVC). This should be temporary and permanent kind of disorder. Furthermore, accomplishment of government regulations and growing consumer awareness boost the demand for inventive product that gives importance to the human safety and health. So, due to this concern regarding to the conventional plastic people moves towards biological alternatives such as PHA. Moreover, Countries importance on green procurement practices will also drives the market.
Additionally, high production cost is the major restrain for the PHA market. PHA requires the high cost charge as compared to the conventional plastic. For instance, 20% to 80% of cost charge require for the invention of biodegradable plastic. Firstly, polymerization process is the most important reason behind the high cost of the PHA. As compared to petrochemical alternatives number of process are still in progress because of limited commercialization so it’s complex to complete economic phase. Furthermore, swift biodegradation of PHA and poor thermal properties are also impede the markets growth.
Additionally, advancement in technology is became an opportunity in the PHA market. For instance, the Court of Bologna certified GRUPPO MAIP's application meant for a bankruptcy solution including the acquisition of all Bio-On assets in March 2023. The MAIP Group's five-year strategy aims to swiftly reintroduce Bio-On's groundbreaking PHA production technology, unmatched globally from 2008 to 2019. This innovative technology utilizes agricultural waste and by products, that are beet, glycerol from biodiesel and sugar cane. Additionally, growing focus on sustainability and encouraging governmental policies for biodegradable plastic are also became an opportunity in PHA market.
Polyhydroxyalkanoates Market Segmentation
The worldwide market for polyhydroxyalkanoates is split based on type, application, production method, and geography.
Polyhydroxyalkanoates (PHA) Market By Type
- Short Chain Length
- Medium Chain Length
According to polyhydroxyalkanoates (PHA) industry analysis, based on the types, the market is segmented into short chain length and medium chain length. Short chain length dominate the market. PHA can be divided into medium chain length and short chain length on the basis of number of carbon atom in the monomer. P3HB, PHV and PHB are some of the examples of the PHA monomers. By the use of medium chain length and short chain length thesemonomers form the different structures. Additionally, mechanical and thermal propeties are developed by this structure of monomers. Biomedical uses and environment friendly pacakaging are the applications of these monomers. Furthermore, TianAN biologics materials is the major manufacturer for short chain length PHA in Europe.
Polyhydroxyalkanoates (PHA) Market By Application
- Packaging and Food Services
- Biomedical
- Agriculture
- Others
According to polyhydroxyalkanoates (PHA) industry analysis, based on the application, the market is segmented into packaging and food services, biomedical, agriculture and others. Packaging and food services dominate the market. PHA are used in the packaging and food services applications. Its used in the films, sheets, bags, disposable spoon, and forks. Growing demand for biodegradable plastics with the government initiative of different countries are projected to rise the insist for PHA in pacakaging and food services application. In the manufacturing industry, this segment contain diverse of applications. The pacaging industry is witnessing the tough expansion due to the growing industrial invention and increasing of manufacturing units. Additionally, growing food and beverages industry and e-retailers business are further boost the pacakaging requirements. Overall, due to these diverse applications pacakaging and food services dominate the market.
Polyhydroxyalkanoates (PHA) Market By Production Method
- Sugar Fermentation
- Vegetable Oil Fermentation
- Heterogeneous waste system
- Others
According to the polyhydroxyalkanoates (PHA) industry analysis, the market is segmented based on production methods into sugar fermentation, vegetable oil fermentation, heterogeneous waste systems, and others. Vegetable oil fermentation dominates the global PHA market. Polyester is obtained from bacteria during industrial processes through improved fermentation of sugars and glucose. In the fermentation process, carbohydrates serve as raw materials, along with vegetable oil and glycerin. Vegetable oil is a vital raw material used in PHA production; for instance, the USA produces 10 million tons of vegetable oil annually.
Polyhydroxyalkanoates Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Polyhydroxyalkanoates Market Regional Analysis
In terms of polyhydroxyalkanoates market analysis, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The European region is expected to dominate the market in the forecast year, with countries like Germany, the U.K., and France leading the way. For example, increasing foreign exports and the rise in domestic e-commerce further propel the growth of the packaging industry in Germany. Additionally, the growing importance of packaged food and beverages in Germany is boosting demand. Furthermore, the food industry in France contributes to 43% of packaging design innovation compared to other industries. In France, the food manufacturing business represents about 20% of French industrialization. In the United States, there is increasing demand for premium packaging and smaller sizes from the food and beverages sector. Key players in this region, such as BASF SE, play a pivotal role in the market. For instance, the acquisition of Solvay’s polyamide businesses by BASF SE, which was stopped on January 31, 2020, has expanded the market in South and North America, as well as Asia. This acquisition involves eight production sites in China, India, France, Germany, South Korea, Mexico, and Brazil. Additionally, countries in this region offering environmentally friendly packaging are automatically propelling the demand for PHA in the packaging industry. Furthermore, Asia Pacific is the fastest-growing region in the PHA market. Countries like China, India, and Japan have robust key players due to their research and development regions, experiencing significant growth in the forecast year.
Polyhydroxyalkanoates Market Players
Some of the top polyhydroxyalkanoates (PHA) companies offered in our report includes BASF SE, Shenzhen Ecomann Biotechnology Co, Ltd, Biome Technologies PLC, Kaneka Corporation, Polyferm, Inc, Tianjin GreenBio Materials Co., Full Cycle Bioplastics, Cardia Bioplastics, BIO ON, and New Light Technologies LLC.
Frequently Asked Questions
How big is the polyhydroxyalkanoates market?
The polyhydroxyalkanoates Market size was valued at USD 92.6 billion in 2022.
What is the CAGR of the global polyhydroxyalkanoates Market from 2023 to 2032?
The CAGR of polyhydroxyalkanoates (PHA) is 13.6% during the analysis period of 2023 to 2032.
Which are the key players in the polyhydroxyalkanoates Market?
The key players operating in the global market are including Shenzhen Ecomann Biotechnology Co, Ltd, Kaneka Corporation, Tianjin GreenBio Materials Co., BASF SE, Biome Technologies PLC, Polyferm, Inc, Full Cycle Bioplastics, BIO ON, Cardia Bioplastics, and New Light Technologies LLC.
Which region dominated the global polyhydroxyalkanoates Market share?
Europe held the dominating position in polyhydroxyalkanoates (PHA) industry during the analysis period of 2023 to 2032.
Which region registered fastest CAGR from 2023 to 2032?
Asia Pacific region exhibited fastest growing CAGR for market of polyhydroxyalkanoates (PHA) during the analysis period of 2023 to 2032.
What are the current trends and dynamics in the global polyhydroxyalkanoates (PHA) industry?
The current trends and dynamics in the polyhydroxyalkanoates (PHA) industry are the growing demand for eco-friendly materials, countries importance on green procurement practices, and increasing anxiety about safety and human healthiness.
Which type held the maximum share in 2022?
The short chain length type held the maximum share of the polyhydroxyalkanoates (PHA) industry.
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