According to a new report, published by KBV research, The Global Polyhydroxyalkanoate (PHA) Market size is expected to reach $276.1 Million by 2031, rising at a market growth of 15.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 38,867.1 tonnes, experiencing a growth of 29.9% (2020-2023).
The Medium Chain Length segment is registering a CAGR of 15.7% during (2024 - 2031). Medium chain length (mcl) PHAs produce flexible packaging films with excellent barrier properties, making them suitable for food and non-food items. MCL-PHA manufactures biodegradable mulch films for agricultural applications, helping reduce plastic waste and environmental pollution. Moreover, MCL-PHA produces biodegradable plant pots and trays for nursery and horticultural applications.
The Sugar Fermentation segment is leading the Global Polyhydroxyalkanoate (PHA) Market by Production Method in 2023; thereby, achieving a market value of $140.6 million by 2031. Sugar fermentation is a common method of producing PHAs. Bacteria such as Cupriavidus necator (formerly known as Ralstonia eutropha) and Pseudomonas putida are commonly used to fermentate PHAs from sugars. PHA fermentation processes use glucose, sucrose, fructose, and xylose as carbon sources. Medical devices such as scaffolds for tissue engineering, implants, sutures, and drug delivery systems all use PHAs, which are made from the fermentation of sugar.
The Biomedical segment is anticipating a CAGR of 15.5% during (2024 - 2031). PHAs manufacture biodegradable sutures and surgical meshes, providing excellent tensile strength and knotting properties. These products degrade over time, eliminating the need for suture removal. PHA-based implants are used in orthopedic surgeries for applications such as bone plates, screws, and pins. These implants provide temporary support and degrade as new bone tissue grows. PHAs are used to manufacture biodegradable dental implants and scaffolds for bone regeneration and tissue engineering applications.
Full Report: https://www.kbvresearch.com/polyhydroxyalkanoate-market/
The Europe region dominated the Global Polyhydroxyalkanoate (PHA) Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $99.8 million by 2031. The North America region is exhibiting a CAGR of 14.9% during (2024 - 2031). Additionally, The Asia Pacific region would experience a CAGR of 15.7% during (2024 - 2031).
By Type (Volume, Tonnes, USD Million, 2030-2031)
By Production Method (Volume, Tonnes, USD Million, 2030-2031)
By Application (Volume, Tonnes, USD Million, 2030-2031)
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