Global Polyhydroxyalkanoate (PHA) Market (2020 to 2025) - Increasing Scope in End-use Segments Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Polyhydroxyalkanoate (PHA) Market by Type (Short Chain Length, Medium Chain Length), Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), Application, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global polyhydroxyalkanoate (PHA) market is estimated to be USD 62 million in 2020 and is projected to reach USD 121 million by 2025, growing at a CAGR of 14.2% between 2020 and 2025.

Factors such as stringent environmental laws and customer awareness will drive the polyhydroxyalkanoate (PHA) market. The major restraints for the market will be higher price of PHA as compared to the conventional polymers and performance issues related to its properties. However, the increasing scope in end-use segments and emergence of new raw materials will act as an opportunity for the market.

Short chain length is the largest type for polyhydroxyalkanoate (PHA) in 2019

Monomers can form various crystalline structures, such as short chain length monomers and medium chain length monomers .Short chain length PHA monomers consist of not more than four to ten carbon atoms. Some of the short chain length PHA monomers include Polyhydroxybutyrate (PHB), Poly-3-hydroxybutyrate (P3HB), and Polyhydroxyvalerate (PHV). The structure determines the thermal and mechanical properties of the monomers, making them suitable for the use in diversified applications, for instance, environmental-friendly plastics, for packaging and biomedical. PHA monomers can also be used to produce biofuels. The applications best suited for short chain length PHAs, such as packaging materials and carry bags.

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 sugar 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.

Packaging and food services industry is projected to account for the largest share of the polyhydroxyalkanoate (PHA) market between 2020 and 2025

The packaging & food services segment is the biggest source of plastic waste in the world. Through the ecosystem the petroleum based plastic gets into the food chain which causes toxicity in the environment. It takes around thousands and thousands years to degrade. Therefore to curb this problem biodegradable plastics comes to the rescue. These biodegradable plastics degrade within 180 days in the soil. These are used in many industries such as packaging and food services, biomedical, agricultures and others. PHA plays a key role in the packaging and food services industry. The demand for PHA in this segment is expected to increase because of its increasing use in several articles, including cups, lids, food containers, and other food service products. The rising environmental concerns, along with waste management issues are the key drivers of this segment.

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.

The strict governmental law against single use plastic and increasing concerns over human health and safety are the key driving factors responsible for the market growth in the European region. The need for environment-friendly products is driving innovation in the bioplastics industry in this region. The packaging and food services industry demands single use plastics and sustainable packaging. This increases the need for bioplastics, which in turn drives the market for polyhydroxyalkanoate (PHA). Moreover there are a large number of PHA manufacturers in European region which has a huge domestic market in the region, giving this the largest market share.

Market Dynamics

Drivers

• Governments' Green Procurement Policies
• 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
• Emergence of New Raw Materials
• Potential for Cost Reduction Through Economy of Scale
• Potential for Cost Reduction by Using Cyanobacteria
• Growth Opportunities in APAC

Challenges

• Manufacturing Technology Still in Initial Phase
• Under-Utilization of PHA Manufacturing Plants
• Expensive and Complex Production Process

Companies Mentioned

• Bio-On
• Biomatera Inc.
• Biomer
• Bluepha Co. Ltd.
• Bochemie
• Cardia Bioplastics
• CJ Cheiljedang Corp.
• Danimer Scientific
• Earthbi
• Full Cycle Bioplastics
• Genecis Bioindustries Inc.
• Kaneka Corporation
• Kerhea
• Mango Materials
• Newlight Technologies, LLC
• Phabio
• Polyferm Canada, Inc.
• Redpod (China) Co. Ltd.
• RWDC Industries
• Shenzhen Ecomann Biotechnology Co. Ltd.
• Tepha Inc.
• Terraverdae Bioworks Inc.
• Tianan Biologic Materials Co. Ltd.
• Tianjin Greenbio Materials Co. Ltd.
• Yeild10 Bioscience

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