Polyhydroxyalkanoate (PHA) Market Markets, 2024 by Type (Short Chain Length, Medium Chain Length), Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation)

News provided by

Oct 21, 2019, 16:15 ET

DUBLIN, Oct. 21, 2019 /PRNewswire/ -- 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 2024" report has been added to ResearchAndMarkets.com's offering.

The global polyhydroxyalkanoate (PHA) market size is estimated to grow from USD 57 million in 2019 to USD 98 by 2024, at a CAGR of 11.2%.

Increasing use of the chemical for various applications fueled by stringent government regulations and changing consumer behavior is expected to drive the growth of the global polyhydroxyalkanoate industry. PHA is a family of biodegradable polymers and plastics, which are synthesized and accumulated by bacteria inside their cells. These biodegradable plastics are also biocompostable and biocompatible, which means they can be used for biomedical applications too.

Short-chain length PHAs are expected to be the fastest-growing type segment of the market, in terms of value and volume, between 2019 and 2024

The short-chain length segment is expected to witness the highest growth in terms of value and volume during the forecast period. The growing use of short-chain length PHAs in various applications such as packaging & food services, bio-medical, and agriculture along with the higher production capacity of short-chain length PHAs is driving the growth of this segment.

Packaging & food services application segment is estimated to witness the highest growth rate between 2019 and 2024

The packaging & food services application segment is estimated to witness the highest growth rate, in terms of value and volume, between 2019 and 2024. Due to the ecological imbalance created by plastic waste, several organizations, including governments, have imposed taxes and enacted stringent policies against single-use plastics. These initiatives are driving the demand for PHA in the packaging & food services application. The growth of these end-user industries owing to the expansion of e-commerce portals across the food and retail sector is expected to propel the growth of the market further during the forecast period.

Rising demand for biodegradable plastics and bioplastic, due to changing consumer behavior, is likely to drive the demand for PHA market in Europe

The Europe PHA market is estimated to witness significant growth during the forecast period, fueled by the growing demand for biodegradable plastics and bioplastics due to the increasing environmental concerns and trends such as sustainable development and circular economy.

Additionally, the presence of major manufacturers such as Bio-On Srl (Italy), Natureplast (France), Biomer (Germany), Colorfabb (Netherlands), Nafigate (Czech Republic), and Bochemie (Czech Republic) has positively influenced the demand trend for PHAs in the region.

The key players profiled in the report include Kaneka Corporation (Japan), Danimer Scientific. (U.S.), Shenzhen Ecomann Biotechnology Co., Ltd. (China), Bio-On Srl (Italy), Newlight Technologies, LLC (U.S), and TianAn Biological Materials Co. Ltd. (China).
Market Dynamics

Drivers

Positive Attitude of Governments Toward Green Procurement Policies
The Vast Availability of Renewable and Cost-Effective Raw Materials
Biodegradability Driving the Consumption
Increasing Concerns for Human Health and Safety

Restraints

High Price Compared to Conventional Polymers
Performance Issues

Opportunities

Increasing Scope in End-Use Segments
The Emergence of New Raw Materials
Potential for Cost Reduction Through the Economy of Scale
Growth Opportunities in APAC

Challenges

Manufacturing Technology Still in Its Initial PHAse
Under-Utilization of PHA Producing Plants
The Expensive and Complex Production Process

Porter's Five Forces Analysis

Technological Overview

Commercialized Technologies
PHA Production in Bio-Refineries
Yet to Be Commercialized
Other Possibilities

Companies Mentioned

Bio-On Spa
Biomer
Bluepha Co., Ltd.
Bochemie
CJ Cheiljedang Corp.
Danimer Scientific
Earthbi
Full Cycle Bioplastics
Genecis Bioindustries Inc.
Kaneka Corporation
Mango Materials
Newlight Technologies, LLC
Polyferm Canada, Inc.
RWDC Industries
Shenzhen Ecomann Biotechnology Co., Ltd.
Tepha Inc.
Terraverdae Bioworks In
Tianan Biologic Materials Co., Ltd.
Yeild10 Bioscience

For more information about this report visit https://www.researchandmarkets.com/r/fjk5oy

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets