Home > Chemicals & Materials > Polymers > Industrial Polymers > Polyhydroxyalkanoate (PHA) Market

Polyhydroxyalkanoate (PHA) Market Size

Report ID: GMI5355
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Polyhydroxyalkanoate Market Size

Polyhydroxyalkanoate Market was valued at around USD 98.2 million in 2022 and is anticipated to grow at a CAGR of over 10.7% between 2023 and 2032. Emerging trends in the PHA market include a growing emphasis on sustainable and biodegradable plastics, driven by environmental concerns and regulatory changes. PHA, as a biopolymer, is gaining traction as an eco-friendly alternative to conventional plastics, finding applications in packaging, agriculture, and medical industries. Additionally, advancements in PHA production technologies, such as microbial fermentation and genetic engineering, are making PHA production more cost-effective and scalable.

To get key market trends

Download Free Sample

Collaborations between industry players and research institutions to expand the range of PHA applications, along with increasing investment in PHA-based research and development, signify a promising future for this bio-based polymer industry.

Polyhydroxyalkanoate Market Report Attributes
Report Attribute	Details
Base Year:	2022
Polyhydroxyalkanoate Market Size in 2022:	USD 98.6 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10.7%
2032 Value Projection:	USD 275.8 Million
Historical Data for:	2018 – 2022
No. of Pages:	180
Tables, Charts & Figures:	262
Segments covered:	Product, PHA Type, Production Method, Application and region
Growth Drivers:	Positive outlook for biodegradable plastics in the food & beverage packaging industry Enhanced focus on environmental concerns is likely to propel the demand for biodegradable plastic usage Supportive government regulations for biodegradable plastics
Pitfalls & Challenges:	The high production cost and poor thermal properties has weakened the growth of the polyhydroxyalkanoate (PHA) industry

Learn more about the key segments shaping this market

Download Free Sample

The growth of the polyhydroxyalkanoate (PHA) market faces hindrances primarily due to several factors. One significant challenge is the relatively higher production cost of PHA compared to traditional petroleum-based plastics, making it less competitive in price-sensitive markets.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Polyhydroxyalkanoate (PHA) market size was worth USD 98.2 million in 2022 and is estimated to reach USD 275.8 million by 2032 driven by growing emphasis on sustainable and biodegradable plastics

Short-chain-length (SCL) PHA market size was valued at USD 58.5 million in 2022 owing to the increasing demand for tailored and versatile biopolymer solutions.

Polyhydroxyalkanoate market size in the U.S. was USD 26.3 million in 2022 and is set to exhibit robust growth rate over 2023-2032 attributed to the increasing R&D efforts and supportive government policies in the nation.

Some of the top PHA market players are Danimer Scientific, CjBio, Tianan Enmat, Kaneka Corporation, Paques Biomaterials, RWDC, Bluepha, Full Cycle Bioplastics, Newlight Technologies, Tianjin GreenBio Materials Co. Ltd., Yield10 Bioscience, Inc., and Bio-on SpA among others.