The global polyhydroxyalkanoatemarket 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 BusinessInsights™ providesthis information in its 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 superiorproperties, enhancing their appeal in various applications and driving their
increased adoption across packaging industry.
Report Coverage:
Offering detailed insights, theglobal market report scrutinizes leading 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 andRestraints:
Rising R&D to Develop Advanced PHA ProductionTechnologies 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 ofalternative feedstocks such as lignocellulosic biomass, organic waste, and
industrial by-products reduces dependence on food crops, enhancing
sustainability and driving market expansion.
