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Polyhydroxyalkanoate (PHA) Market at a Significant CAGR of 15.3% by Top Competitors| Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd, Kaneka Corporation, RWDC Industries and others

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Polyhydroxyalkanoate (PHA) Market at a Significant CAGR of 15.3% by Top Competitors| Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd, Kaneka Corporation, RWDC Industries and others

September 17
15:06 2022
Polyhydroxyalkanoate (PHA) Market at a Significant CAGR of 15.3% by Top Competitors| Danimer Scientific, Shenzhen Ecomann Biotechnology Co., Ltd, Kaneka Corporation, RWDC Industries and others
Browse 197 market data Tables and 52 Figures spread through 216 Pages and in-depth TOC on “Polyhydroxyalkanoate (PHA) Market
Polyhydroxyalkanoate (PHA) Market by Type (Short chain length, Medium Chain Lenth), Production Methods (Sugar Fermentation, Vegetable Oil Fermentation), Application (Packaging & Food Services, Biomedical) and Region

The polyhydroxyalkanoate (PHA) market size is estimated to be USD 62 million in 2020 and is expected to reach USD 121 million by 2025, at a CAGR of 14.2% during the forecast period. Polyhydroxyalkanoate (PHA) is a sustainable alternative to conventional petrochemical plastics. It is 100% biodegradable plastic made out of renewable sources. Unlike PLA, PHA is 100% marine soluble. Different production method such as vegetable oil fermentation, sugar fermentation, and methane fermentation are used to produce monomers for polyhydroxyalkanoate (PHA). The short chain length monomers are majorly used to make cheap, flexible and single use packaging. Factors such as stringent environmental laws and customer awareness will drive the market.

Based on type, the major type for polyhydroxyalkanoate (PHA) is short chain length polymer. This type is mainly used in packaging & food services applications due to its low cost as compared to the medium chain length. Moreover, the use of short chain length polymer is increasing because of its use in diversified applications, for instance, environmental-friendly plastics, for packaging and biomedical (implants and controlled release drug carriers). The monomers can later be used to produce biofuels.

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Based on 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 moderate CAGR, between 2020 and 2025, because of its abundance in sugar sources.

Based on the application, the polyhydroxyalkanoate (PHA) market finds its applications in packaging and food services, biomedical, agriculture and others. Packaging is the most promising application, where PHA can replace conventional plastics. According to United Nations Environment Programme report on plastic waste, packaging accounts for 42% of the total plastic waste generated globally. Most of this waste is from single-use plastic. Many European countries are banning the use of single-use plastics in departmental stores and malls, which is creating an opportunity for PHA to gain some momentum in the packaging & food services application. 

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On the basis of region, 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.

Key players in the industry are Danimer Scientific (US), Shenzhen Ecomann Biotechnology Co Ltd (China), Kaneka Corporation (Japan), RWDC Industries (Singapore), Newlight Technologies LLC (US), Bio-On (Italy), Tianan Biologic Materials Co Ltd (China), Biomer (Germany), and Bochemie (Czech Republic). They have adopted strategies such as agreement, expansion, and new product launch in order to gain an advantage over their competitors.

Danimer Scientific is one of the major players in the polyhydroxyalkanoate (PHA) market. In order to expand its business, the company is focusing on enhancing its market reach by opening plants to increase the capacity. For instance, In May 2019, Danimer Scientific announced the completion of a new plant for PHA production in Kentucky, US. The plant will use canola oil as the raw material for PHA production. The plant started operating from September 2019. Similarly, September 2019, RWDC announced the closing of a USD 133 million two-stage Series B funding round. This funding will be used to replace single-use plastic continues to rise to meet growing consumer demand for better materials choices. The funding will meet the growing demand for PHA by expanding the company’s production capacity to a new facility in Athens, Georgia.

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