Polyhydroxyalkanoate (PHA) Market Size 2022, Top Key Players, Segmentations & Forecast to 2030

According to a research survey conducted by ChemView Consulting, in 2022, the Global Polyhydroxyalkanoate (PHA) Market was worth US$ 82.7 Mn and is expected to grow at a CAGR of 14.6% over the forecast period. The market is expected to hit US$ 246.1 Mn by 2030 end.

Polyhydroxyalkanoates are employed as carbon and energy reserves. They are created directly by microbes through the fermentation of a carbon substrate. Because of biodegradability, PHA has achieved enormous appeal and acceptability in the packaging and food sectors. Biodegradable plastic made from polyhydroxyalkanoates can be used in place of non-biodegradable plastic.
These are biocompatible, biodegradable, and thermoplastic materials. As a result, they are employed in various biological applications, including medication delivery and tissue engineering scaffolds.

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PHA Market 2017-2030: Report Key Highlights:
• Detailed information on factors that will assist Global PHA growth during the next eight years
• Assessment of the historical and current Global PHA Market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
• Segment-wise, country-wise, and region-wise market analysis
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies

Key Takeaways
By Application: PHA is important in the packaging and food service industries. PHA demand in this category is predicted to rise because of its increasing use in various applications such as cups, lids, food containers, and other food service goods.

The packaging industry is driven by increased environmental concerns and waste management challenges. The packaging and food services sector generates the most plastic trash in the world, and the increased use of bioplastics and biodegradable plastics bodes well for industry development.

Packaging is one of the most important factors addressed by manufacturers to ensure aesthetic appeal to consumers. The worldwide packaging sector is expanding rapidly, thanks to increased manufacturing units, food processing plants, and industrial output.

By Region: Europe is the most prospective market for bioplastics and allied sectors, such as acrylic processing aid. The region is known for its inventive growth and strict rules. The primary driving factors responsible for market expansion in the European area are government regulations encouraging the use of biodegradable plastics and increased consumer awareness.

The need for environmentally friendly products is pushing bioplastics innovation. Single-use plastics and sustainable packaging are in high demand in the packaging and food service industries. It boosts the need for bioplastics, which drives the polyhydroxyalkanoate (PHA) market. Furthermore, several PHA producers in the European area have a significant domestic market in the region, giving them the highest market share.

Competition Summary
The worldwide Polyhydroxyalkanoate (PHA) market is partially consolidated. Leading market companies invest heavily in partnerships to gain a competitive advantage, aiding their worldwide business progress.
Key companies covered in the market study are Danimer Scientific, Shenzhen Ecomann Biotechnology Co Ltd, Kaneka Corporation, RWDC Industries, Newlight Technologies LLC, Bio-On, Tianan Biologic Materials Co Ltd, Biomer and Bochemie.

Segments Covered in Report
By Form:
• Co-polymerized PHA
• Linear PHA

By Application:
• Agriculture
• Food
• Bio-medical
• Packaging
• Electronics
• Consumer Goods
• Others

By Region and Country:
• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

About ChemView Consulting's Chemicals & Materials Domain
ChemView Consulting's chemicals & materials domain provides unique, reliable, and in-depth analysis of the chemicals and materials business with the help of its in-house and experienced analysts and subject matter experts. The comprehensive coverage includes bulk, fine, specialty, petrochemicals, innovative materials, composites, and nanotechnology, focusing on "green alternatives," recycling, and renewable technology advances. In addition, for developing - "The Future Growth Plan," our research studies serve as market reference guides for chemical manufacturers, research institutes, channel partners, and government agencies.

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About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and consulting company serving worldwide Chemicals & Materials, Food & Beverage, Oil & Gas, Clean Energy, and Packaging clients. ChemView Consulting serves clients in approximately 100 countries, with its office in the U.S. and delivery centers in India.

This release was published on openPR.