The global polyhydroxyalkanoatemarket size was USD 30.6 million in 2023. The market isprojected 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 are biodegradable polymers made bymicroorganisms, 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 both positive and negative marketimpacts. 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.
FortuneBusiness Insights™ provides this information in itsresearch report, titled “Polyhydroxyalkanoate Market,2024-2032”.
Segmentation:
ShortChain 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.
Driversand Restraints:
Rising R&Dto Develop Advanced PHA Production Technologies to Impel Market Growth
Ongoingresearch efforts have led to significant advancements in PHA 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.
