Global Polyhydroxyalkanoate Market Size to Reach USD 351.9 Million in 2032 | Emergen Research

Rising focus on environmental concerns is a key factor driving Polyhydroxyalkanoate (PHA) Market revenue growth

Vancouver, Dec. 20, 2023 (GLOBE NEWSWIRE) — The global Polyhydroxyalkanoate (PHA) market size was USD 81.0 Million in 2022 and is expected to register a rapid revenue CAGR of 15.9% during the forecast period, according to latest analysis by Emergen Research. Rising focus on environmental concerns is a key factor driving market revenue growth. Polyhydroxyalkonates (PHA) are biodegradable plastics synthesized by microbial fermentation of glucose or sugar. PHA has been used in the fixation and orthopedic applications, tissue engineering, production of bioplastic, food services, in packaging, pharmaceutical, and agriculture industries.

The global production of biodegradable plastics offers significant opportunities by utilizing raw materials sourced from non-food origins or waste residues. This trend is driven by rising global demand for cereals, such as maize, wheat, barley, and others, which are extensively utilized for food, animal feed, and biofuels. The use of non-food raw materials, such as organic waste, biomass, and deceased plants, is expected to enhance waste management practices. In addition, waste generated during the preprocessing stage of sugarcane in the sugar industry holds considerable potential as a valuable raw material to produce biodegradable plastics. Utilizing these alternative raw materials not only addresses waste management concerns but also reduces dependency on food crops, contributing to a more sustainable and resource-efficient approach

However, high production cost and poor thermal properties are key factors, which could restrain market revenue growth. Regarding poly(3-hydroxybutyrate), which is the most commonly available PHA in the market, a notable drawback is its extremely limited thermal processing range. The reduced hydrothermal stability of PHB poses challenges during processing using conventional polymer equipment such as extruders, injection molding machines, and Three Dimensional (3D) printing devices. The thermal breakdown of Polyhydroxybutyrate (PHB) results in rapid and significant decreases in molecular weight, alterations in color (shifting from white/yellow to brown), and the deterioration of final rheological and mechanical properties. In addition, physical properties of PHA closely resemble those of conventional plastics (e.g., density), potentially impacting the recyclability of conventional plastics when there is confusion in plastic waste sorting. Excessive and rapid biodegradation of PHA can also pose challenges in certain applications.

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Scope of Research

Report Details Outcome
Market Size in 2022 USD 81.0 Million
Volume Units in 2022 XX Units
CAGR (2023–2032) 15.9%
Revenue Forecast To 2032 USD 351.9 Million
Base Year For Estimation 2022
Historical Data 2019-2022
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered PHA type, product, production methods, application, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Danimer Scientific, NEWLIGHT TECHNOLOGIES, INC., RWDC Industries, Ningbo Tianan Biomaterials Co., Ltd., KANEKA CORPORATION, Paques Biomaterials, CJ CHEILJEDANG CORP., Bluepha, Ellen MacArthur Foundation, and YIELD 10 BIOSCIENCE, INC.
Customization Scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global Polyhydroxyalkanoate (PHA) market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Polyhydroxyalkanoate (PHA) solutions in the market. Some major players included in the global Polyhydroxyalkanoate (PHA) market report are:

  • Danimer Scientific
  • RWDC Industries
  • Ningbo Tianan Biomaterials Co., Ltd.
  • Paques Biomaterials
  • Bluepha
  • Ellen MacArthur Foundation

Strategic Development

  • On 14 July 2022, Newlight Technologies, Inc. and CNX Resources Corporation revealed a 15-year agreement to capture and employ methane emissions in the creation of Aircarbon. Aircarbon, also recognized as PHB, is a naturally occurring molecule that serves as a substitute for plastic, boasting carbon-negative properties and the ability to biologically degrade in natural environments.

Some Key Highlights From the Report

  • The Polyhydroxyalkanoates (PHA) segment accounted for largest revenue share in the global PHA market in 2022. This is because PHA with abbreviated chain lengths provide numerous advantages, especially in the domain of eco-friendly materials and biodegradable plastics. Short-chain PHAs demonstrate superior biodegradability when compared to their longer-chain counterparts. Microorganisms can more easily degrade these polymers into simpler, environment-friendly compounds, aiding in the reduction of plastic waste and lessening environmental impact. These PHAs undergo accelerated decomposition, resulting in a more efficient breakdown across diverse environments. This attribute is particularly beneficial in scenarios where a swift degradation rate is sought after, such as in single-use or disposable items.
  • The packaging & food services segment is expected to register steadily fast revenue growth rate in the global PHA market during the forecast period. This is because PHA, as biodegradable polymers, presents an environmentally conscious option for packaging materials. In the food service sector, characterized by the widespread use of single-use items, PHA-based packaging aids in diminishing environmental impact by undergoing more efficient breakdown in waste disposal systems. In addition, PHAs can be customized to exhibit distinct properties, including flexibility, transparency, and barrier capabilities. This adaptability facilitates the tailoring of packaging materials to fulfill the unique needs of various food products, ensuring optimal preservation and presentation.
  • The North America market accounted for largest revenue share in the global PHA market in 2022. This is due to increasing strategic initiatives and funding toward product design and development of Polyhydroxyalkanoate (PHA), emergence of key startup companies, and rapid adoption of Polyhydroxyalkanoate (PHA) applications, especially in the U.S. and Canada. For instance, on 23 May 2022, Plackers, a leading brand in dental flossers, introduced the new EcoChoice Compostable Dental Flossers, a sustainable dental floss designed to be completely biodegradable and capable of breaking down in a home composter. The EcoChoice Compostable Flossers are made from Danimer Scientific’s PHA, a biopolymer derived from Canola oil, natural silk floss, and a coconut coating. Engineered to decompose within 26 weeks in either a home or industrial composting environment, these flossers, which are both cruelty-free and free of BPA, effectively clean between the teeth while also contributing to environmental well-being.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global Polyhydroxyalkanoate (PHA) market on the basis of PHA type, product, production methods, application, and region:

  • PHA Type Outlook (Revenue, USD Million; 2019-2032)
    • P3H4B+ Polyhydroxybutyrate (PHB)
    • Poly(3-hydroxybutyrate-co-3-hydroxyhexanoate) PHBH
    • Poly(3-hydroxybutyrate-co-3-hydroxyvalerate) PHBV
  • Product Outlook (Revenue, USD Million; 2019-2032)
    • Short Chain Length
    • Medium Chain Length
    • Long Chain Length
  • Production Methods Outlook (Revenue, USD Million; 2019-2032)
    • Sugar Fermentation
    • Vegetable Oil Fermentation
    • Heterogeneous Waste Streams
    • Others (Methane Fermentation, Hydrocarbons)
  • Application Outlook (Revenue, USD Million; 2019-2032)
    • Packaging & Food Services
    • Biomedical
    • Agriculture
    • Others
  • Regional Outlook (Revenue, USD Million; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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