Polyhydroxyalkanoate (PHA) Market worth $195 million by 2028 – At a CAGR of 15.9%.

The According to a market research report, the “Polyhydroxyalkanoate (PHA) Market by Type (Short chain length, Medium Chain Lenth), Production Methods (Sugar Fermentation, Vegetable Oil Fermentation), Application (Packaging & Food Services, Biomedical), and Region – Global Forecast to 2028″,  size was and is projected to reach USD 195 million by 2028, from USD 93 million in 2023 to a CAGR of 15.9%. The market is projected to grow due to increasing government regulations worldwide, which impose restrictions or bans on the usage of plastic bags, serving as a significant driver for the PHA market. However, market growth is impeded by factors such as the high cost of final products resulting from expensive production processes. Despite these challenges, manufacturers of PHA can explore promising growth prospects in the Asia Pacific market, where the demand for biodegradable plastics is steadily on the rise. The increasing adoption of such eco-friendly alternatives in the region presents an opportunity for PHA manufacturers to expand their presence and cater to the growing demand for sustainable materials.

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• 219 Market data Tables
• 52 Figures
• 216 Pages and in-depth TOC on “Polyhydroxyalkanoate (PHA) Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

The key global players in the PHA market include Danimer Scientific (US), Shenzhen Ecomann Biotechnology Co., Ltd. (China), Kaneka Corporation (Japan), RWDC Industries (Singapore), Newlight Technologies LLC (US), TianAn Biologic Materials Co. Ltd. (China), and Biomer (Germany) and others. They are focusing on strategies such as new product launches, acquisitions, and expansions, and partnerships & agreements to expand their businesses globally.

Recent Developments in Polyhydroxyalkanoate (PHA) Market Industry

1. In January 2022, Kaneka Corporation successfully created biodegradable polymer-based straws, and they are set to be introduced in the DAISO 100-yen shops operated by Daiso Industries Co. Ltd. These eco-friendly straws will be made available in approximately 2,500 stores starting from mid-January.
2. In May 2022, Danimer Scientific introduced a new range of Eco choice compostable dental flossers, utilizing their Nodax-based technology. This addition to their existing Placker portfolio significantly enhances the sustainability of their dental products, offering eco-friendly alternatives for consumers.
3. In July 2022, Newlight Technologies and CNX Resources Corporation have recently formed a 15-year agreement. The partnership aims to capture and utilize methane emissions for the purpose of producing Aircarbon.
4. In June 2021, RWDC Industries and Kimberly Clark joined forces in a collaborative partnership aimed at advancing sustainable technology for consumer products. This strategic alliance seeks to address the global challenges posed by traditional single-use plastics by offering innovative solutions. The partnership involves the provision of PHA source material, which will enable the development of new products that are marine degradable, further contributing to the promotion of environmental sustainability.
5. In January 2022, Bluepha established its inaugural commercial PHA plant, spanning an area of 86,000 square meters in the Coastal Industrial Park of Jiangsu Binhai Economic Development Zone. This facility boasts an annual PHA production capacity of 25,000 tons. The plant’s construction is divided into two phases, with the first phase set to be finalized by the end of 2022, achieving a capacity of 5,000 tons per year.

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Short chain length was the fastest-growing type of the PHA market, in terms of value, in 2022.

With the exception of Danimer Scientific, major companies predominantly focus on producing short chain length PHA. Initially, companies like ICL and Metabolix Inc. played a significant role in developing these polymers, identifying diverse applications for them. Among the various short chain length PHA variants, Poly (HydroxyButyrate-co-HydroxyValerate) is the most commonly manufactured by TianAn Biologic Materials China. A crucial factor contributing to the robust growth of short chain length PHA is their cost-effectiveness compared to medium chain length PHAs. This affordability factor enhances their attractiveness for various industries seeking sustainable plastic solutions.

Vegetable oil fermentation is estimated to be the fastest growing production method in the PHA market in terms of value.

Triacylglyceride-rich vegetable oils obtained from sources such as soy, canola, and palm undergo conversion by triacylglycerol-utilizing bacteria, aided by the secretion of lipase enzymes. Lipase breaks down fatty acids from triacylglycerol molecules, which are subsequently metabolized by the bacteria. This production process entails a level of complexity and necessitates the use of specific bacterial strains. Kaneka, a major player in the industry, leverages this method of production. Notably, the utilization of cheaper sources like used cooking oil for PHA production contributes to cost reduction, making the process more economically viable. This favorable cost factor plays a pivotal role in driving the remarkable growth rate observed in the vegetable oil fermentation method, further promoting the widespread adoption of PHA as a sustainable plastic alternative.

North America is expected to be the second largest market for PHA during the forecast period, in terms of value and volume.

Growing environmental concerns and the need for effective waste management have led to a notable shift in consumer preferences toward biodegradable plastics. In 2021, North America  emerged as a significant consumer of plastics, accounting for 21% of the global consumption and distribution of single-use plastics, as reported by the UN Environment Organization. The United States, in particular, stands as the world’s largest generator of packaging waste, with an annual production of nearly 50 million tons. This surge in plastic waste generation has prompted the implementation of various regulations at state and local levels across the region. For example, Montreal in Canada, as well as Hawaii and California in the United States, have taken steps to ban the usage of lightweight, single-use plastic bags. These initiatives reflect the increasing efforts to address plastic waste concerns in the region and promote more sustainable alternatives.

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