The global polyhydroxyalkanoate market sizewas USD 30.6 million in 2023. The market is projected to grow from USD 38.8
million in 2024 to USD 301.7 million in 2032 at a CAGR of 29.2% during the
2024-2032 period.
Polyhydroxyalkanoate arebiodegradable polymers made by microorganisms, mimicking conventional plastics
while being eco-friendly. They find use in packaging, biomedical devices, and
3D printing. Their biocompatibility suits medical applications such as sutures
and drug delivery systems. Continuous R&D efforts are enhancing PHA
production efficiency and cost-effectiveness, positioning them as formidable
contenders against conventional plastics and thereby driving market growth.
The COVID-19 pandemic led to bothpositive and negative market impacts. It raised awareness of environmental sustainability, boosting interest in biodegradable alternatives such as PHA.
This demand was notably higher in packaging, favouring eco-friendly over
conventional plastics.
Fortune Business Insights™ provides this information inits research report, titled“Polyhydroxyalkanoate Market,2024-2032”.
Segmentation:
Short Chain Segment Dominated owing to Superior Properties
On the basis of type, the market is classified into short chain,medium chain, and long chain. The short chain segment captured the largest
polyhydroxyalkanoate market share in 2023. Short-chain-length
polyhydroxyalkanoates offer superior properties, enhancing their appeal in
various applications and driving their increased adoption across packaging
industry.
Report Coverage:
Offering detailed insights, the global market report scrutinizesleading companies, applications, and types, shedding light on market trends and
notable industry progressions. Furthermore, it encompasses diverse factors that
have spurred market expansion in recent times.
Drivers and Restraints:
Rising R&D to Develop Advanced PHA Production Technologiesto Impel Market Growth
Ongoing research efforts have led to significant advancements inPHA production technologies, resulting in increased yields, enhanced efficiency,
and reduced costs, thereby boosting polyhydroxyalkanoate market growth.
Moreover, exploration of alternative feedstocks such as lignocellulosic
biomass, organic waste, and industrial by-products reduces dependence on food
crops, enhancing sustainability and driving market expansion.
