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By 2025, the market for polyhydroxyalkanoates (PHA) will be worth $121 million.

Published: December 22, 2022

Author: TEXTILE VALUE CHAIN

According to a new market research report, the “Polyhydroxyalkanoate (PHA) Market by Type (Short Chain Length, Medium Chain Length), Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), Application, and Region – Global Forecast to 2025″, The polyhydroxyalkanoate (PHA) market is projected to reach USD 121 million by 2025, at a CAGR of 14.2% from USD 62 million in 2020.

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159 Market data Tables
62 Figures
205 Pages and in-depth TOC on “Polyhydroxyalkanoate (PHA) Market – Global Forecast to 2025″

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

Danimer Scientific (US), Shenzhen Ecomann Biotechnology Co Ltd (China), Kaneka Corporation (Japan), RWDC Industries (Singapore), Newlight Technologies LLC (US), Bio-On (Italy), Tianan Biologic Materials Co Ltd (China), Biomer (Germany), and Bochemie (Czech Republic)

Impact of COVID-19 on Polyhydroxyalkanoate (PHA) Market

According to experts, the biggest winner in the bio-plastics is going to be the packaging industry, especially for food, beverage, and medicines. Due to shut down in the restaurant business during the COVID-19 period, the buyers were pushed to the retail channel. The foods available in retail channels are mostly packed in plastics. Therefore, the demand for plastics increased due to the food, beverage, and pharmaceutical industries. There were a lot of partnerships and agreements between the PHA manufacturers and the food packaging industries which shows a positive growth in this market whereas On the other hand, due to a drop in oil price during 2020, the virgin plastic became cheaper as compared to the biodegradable plastics which was a short term restraint to the market. Considering the above factors, the polyhydroxyalkanoate (PHA) market is expected to witness a neutral effect in 2020 and expected a positive growth during the forecast period.

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Sugar fermentation is estimated to be the largest production method in polyhydroxyalkanoate (PHA) market between 2020 and 2025.

Based on the production method, the polyhydroxyalkanoate (PHA) market has been segmented into as vegetable oil fermentation, sugar fermentation, and methane fermentation. The demand for polyhydroxyalkanoate (PHA) in this segment is mainly driven by the abundance of carbohydrate source found in sugarcane, beet, molasses, and bagasse which can be easily consumed and converted by bacteria to produce PHA. The market in sugar fermentation is projected to witness a higher CAGR in the forecasted year because of its abundance in sugar sources.

Europe is expected to be the largest polyhydroxyalkanoate (PHA) market during the forecast period, in terms of value and volume.

Europe is projected to be the largest market for the polyhydroxyalkanoate (PHA) during the forecast period. Europe is the most promising market for bioplastics and related industries, including PHA. The European market is mostly driven by government regulations and a change in consumer behavior. The Europe market is segmented into Germany, France, Italy, UK and Rest of Europe. The Rest of Europe includes, Spain, Poland, the Czech Republic, Romania, the Benelux countries, and the Scandinavian countries.