Market Reports

Value of the Polyhydroxyalkanoate (PHA) Market by 2027: $167 million

Published: January 13, 2023

Author: TEXTILE VALUE CHAIN

According to a new market research report, the “Polyhydroxyalkanoate (PHA) Market by Type (Short chain length, Medium Chain Length), Production Methods (Sugar Fermentation, Vegetable Oil Fermentation), Application (Packaging & Food Services, Biomedical) and Region – Global Forecast to 2027″, is projected to reach USD 167 million by 2027, at a CAGR of 15.3% from USD 81 million in 2022.

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197 Market data Tables
52 Figures
216 Pages and in-depth TOC on “Polyhydroxyalkanoate (PHA) Market – Global Forecast to 2027″

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), TianAn Biologic Materials Co., Ltd. (China), and Biomer (Germany)

The market is mainly driven by government regulations prohibiting/restricting the use of plastic bags across the globe. Certain factors are restraining market growth; among them, the high prices of final products is a major factor due to the expensive production process. Manufacturers of PHA can tap growth opportunities in the Asia Pacific market, where the adoption of biodegradable plastics is increasing.

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“Short chain length is projected to grow at fastest CAGR during the forecast period”

All larger companies produce short chain length PHA, except Danimer Scientific. Initially, ICL and Metabolix Inc. developed short chain length chain polymers, and various applications were identified. The most common short chain length PHA is Poly (HydroxyButyrate-co-HydroxyValerate), which is manufactured by TianAn Biologic Materials China. However, the most important factor that can be attributed to higher growth of short chain length PHA is the low cost of these polymers as compared to medium chain length PHAs.

“Vegetable oil fermentation is projected to be the fastest growing production method in PHA market, in terms of value”

Triglyceride-rich vegetable oil sourced from soy, canola, and palm, among others, is converted by triacylglycerol-utilizing bacteria, which secrete lipase. Lipase is a fatty acid from triacylglycerol molecules, which is then consumed by the bacteria. The process is a little complex and requires a special strain of bacteria. Kaneka is one of the major players utilizing this method of production. Used cooking oil is a cheaper source for the production of PHA, which helps reduce the cost of production. This factor is responsible for the high growth rate of the vegetable oil fermentation method.