Market Size of Polyhydroxyalkanoate (PHA) Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 39.70 kilotons |
| Market Volume (2029) | 114.14 kilotons |
| CAGR (2024 - 2029) | 23.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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Polyhydroxyalkanoate Market Analysis
The Polyhydroxyalkanoate Market size is estimated at 39.70 kilotons in 2024, and is expected to reach 114.14 kilotons by 2029, growing at a CAGR of 23.52% during the forecast period (2024-2029).
The major factor driving the market studied is the growing demand for eco-friendly materials. On the flip side, the higher prices of PHA compared to the conventional polymers and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
Packaging application is expected to dominate the market studied during the forecast period.
Europe is expected to dominate the global PHA market owing to the increasing consumption from countries such as Germany, France, and United Kingdom.
