(EMAILWIRE.COM, December 07, 2020 ) The report "Polyhydroxyalkanoate (PHA) Market by Type (Short Chain Length, Medium Chain Length), Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), Application, and Region - Global Forecast to 2024" The PHAs market is projected to reach USD 98 million by 2024, at a CAGR of 11.2% from USD 57 million in 2019.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=395

Rising demand for bioplastics and increasing use of PHAs in various applications such as packaging & food services, biomedical, and agriculture are expected to drive the PHAs market. Additionally, changing regulations and policies related to plastic use in countries such as China, Japan, Brazil and most of Europe will increase the demand for various end-use products such as packaging, agricultural films, and biodegradable cutlery & straws. These factors together are anticipated to drive the global polyhydroxyalkanoate (PHA) industry.

Short-chain length type is the largest segment of the PHA market.

Short-chain length PHA segment is estimated to lead the market, in terms of value and volume, in 2019. The demand for short-chain length is based on applications for which it can be used. At present, there is tremendous scope for the product in biomedical applications; however, the scope of application is expected to increase significantly over the next few years due to extensive research in this field. Moreover, a ban on various single-use and disposable plastic have increased the use of biodegradable plastics such as PHA.

Packaging & food service application is estimated to be the largest segment of the PHA market during the forecast period.

The packaging & food service application is estimated to be the largest segment of the PHA market, in terms of value and volume, during the forecast period. Due to the presence of bans and regulations on the usage of plastic bags and other disposable plastic products, consumers and end-use industries are shifting towards PHA, which is driven mainly by packaging and foods services applications.

Don't miss out on business opportunities in Polyhydroxyalkanoate (PHA) Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=395

Browse in-depth TOC on "Polyhydroxyalkanoate (PHA) Market”
102 - Market Data Tables
42 - Figures
152 - Pages

Europe is estimated to be the largest market for PHAs during the forecast period.

Europe was the largest PHA market in 2018 and is expected to continue dominating the global market during the forecast period. Regulations, policies, and consumer behavior primarily drive the market. These regulations are forcing consumers and end-use industry to shift from conventional plastics to PHA or biodegradable plastics.

The key market players profiled in the report include as Kaneka Corporation (Japan), Danimer Scientific. (U.S.), Shenzhen Ecomann Biotechnology Co., Ltd (China), Bio-On Srl (Italy), Newlight Technologies, LLC (U.S), TianAn Biological Materials Co. Ltd. (China).

Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=395

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us


----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results