Selbyville, Delaware, Oct. 04, 2022 (GLOBE NEWSWIRE) --
The polyhydroxyalkanoate (PHA) market value is estimated to cross USD 220 million by 2030, according to a new research report by Global Market Insights Inc.
Bio-based polymers are becoming a preferred alternative for polymer manufacturing, medical, and food packaging applications, which may serve as a driver for market. This demand is a result of concerns regarding climate change and the growing focus on the preservation of natural resources.
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Biopolymers such as PHAs can replace petroleum-based polymers in various industrial applications, owing to their biodegradability and biocompatibility. Additionally, these polymers are recyclable, and the bio-waste can be used as renewable energy for biogas. it will stimulate the adoption of PHA across industries.
Polyhydroxyalkanoate market from long chain length will be more than 660 kilo tons by 2030. Long chain PHAs comprise of over 15 carbon atoms in the molecule. These polymers are made using various plants, and microbes and are used across various applications such as flexible packaging. The industrial and manufacturing sectors use flexible packaging as they are lightweight, easy to open, and can extend product shelf life, in turn promoting the usage of polymers such as long-chain PHAs.
Browse key Industry insights spread across 300 pages with 312 market data tables & 9 figures & charts from the report, “Polyhydroxyalkanoate Market Analysis By Product (Short Chain Length, Medium Chain Length, Long Chain Length), PHA Type (P3H4B +PHB, PHBH, PHBV), Production Methods (Sugar Fermentation, Vegetable Oil Fermentation, Heterogeneous Waste Streams), Application (Packaging & Food Services, Biomedical, Agriculture), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/polyhydroxyalkanoate-market
PHA market from PHBV segment is expected to depict a CAGR of over 10% between 2022-2030, driven by the increased usage of the material for orthopedic devices. PHBV is a naturally occurring plastic made by bacteria that has emerged as a viable replacement for manufactured polymers, owing to properties such as nontoxicity, biodegradability, and biocompatibility. These polymers have garnered interest due to the growing focus on environmental conservation complemented by favorable government policies. Biodegradable polymers like PHBV are also being adopted into packaging for consumer goods, controlled release of drugs, and specialized packaging.
Polyhydroxyalkanoate market from the agriculture segment is poised to register 9% CAGR through 2030. This is due to growing use of recycled agricultural waste materials for the production of bacterial PHAs. Bacteria naturally produce biopolymers under stressed growth conditions. This is crucial for structure creation, energy storage, and biofilm generation. Waste generated from agriculture-based industries is being used as carbon feedstocks and bacterial strains to produce PHAs, optimizing waste management as well as reducing PHA production costs.
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Asia Pacific polyhydroxyalkanoate market is anticipated to register a CAGR of more than 10% over 2022-2030. This growth can be credited to the expanding labor population in the region. This demographic transition will, in turn, boost demand for ready-to-eat (RTE) foods and beverages, urging F&B makers to develop attractive and sturdy packaging solutions for their products. Additionally, several Asian countries are prohibiting single-use plastics, further driving businesses to adopt sustainable packaging alternatives made from environment-friendly materials such as polyhydroxyalkanoates.
Some of the major players operating in the PHA industry include Danimer Scientific, BASF SE, Bluepha’s, Kaneka Corporation, Newlight Technologies, Bio-on SpA, Natureworks LLC, and Full Cycle Bioplastics. The companies are forming strategic partnerships to introduce new products and expand their portfolio.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
