According to Stratistics MRC, the Global Polyhydroxyalkanoate Market is accounted for $78.20 million in 2017 and is expected to reach $135.78 million by 2026 growing at a CAGR of 6.3%. Rising awareness among consumers regarding environmental protection, growth of packaging & healthcare industries and availability of raw materials extracted from wastes of sugar palm oil are some of the factors boosting the growth of the market. However, higher costs of PHAs as compared to conventional polymers are expected to hamper the profit boundaries. Moreover, rapid technological changes and increased investment in R&D by the developed countries are providing ample growth opportunities for the market in the near future.
Polyhydroxyalkonates (PHA) are biodegradable plastics that are 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 industry, and agriculture. PHAs are used in several applications including packaging of food & beverages and cosmetics, bio-medical applications and agricultural films among others.
Based on the product type, the Copolymerized PHA acquired significant market size in the coming years. This is primarily due to its cost effectiveness, compared to PHA monomers, which will help to boost the product demand. By geography, Europe leading the considerable share due to gaining importance of biodegradable plastics coupled with regulatory support is expected to favour market growth in this region.
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Some of the key players in the Polyhydroxyalkanoate market include Kaneka Corporation, Danimer Scientific, Yield10 Bioscience, Inc., Bio-On SRL, Newlight Technologies, LLC, BASF SE, Tianjin Greenbio Materials Co., Ltd., Tepha, Inc., Dayglo Color Corp., Procter & Gamble Co., Full Cycle Bioplastics, CJ Cheiljedang Corp., Cardia Bioplastics, Shenzhen Ecomann Biotechnology Co, Ltd and Polyferm Canada, Inc.
Product Types Covered:
• PHA Co-Polymers
• PHA Monomers
• PHA Terpolymers
• Linear PHA
Manufacturing Technologies Covered:
• Bacterial Fermentation
• Enzymatic Catalysis
• Food Services
• Consumer Goods
• Drug Delivery Carriers
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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