Polyhydroxyalkanoate (PHA) Market

The PHA market is projected to reach USD 195 million by 2028, at a CAGR of 15.9% from USD 93 million in 2023. Environment-friendly policies are fueling the demand for the PHA market. A trendy move towards renewable resources from fossil fuels to produce plastics due to the high cost of oil and to protect the climate. Growing concerns about human health and safety and increased demand from sectors such as consumer packaging, food services, biomedical, and agriculture. These are the main drivers which are positively affecting the growth of the PHA market.

The key players included in the PHA market are Danimer Scientific (US), Shenzhen Ecomann Biotechnology Co., Ltd. (China), Kaneka Corporation (Japan), RWDC Industries (Singapore), Newlight Technologies LLC (US), TianAn Biologic Materials Co. Ltd. (China), and Biomer (Germany). The major global players have remarkable shares in the PHA market. They are aiming for approaches like new product launches, acquisitions, and expansions, and partnerships & agreements to spread out their establishments globally.

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Danimer Scientific, formerly Meredian Holdings Inc., a biopolymer manufacturer, was founded in 2004 with the goal of providing biodegradable and sustainable solutions and reducing the world's reliance on conventional plastics. The Nodax bioplastic technology's patents were acquired by Meredian Holdings Inc., a Danimer Scientific sister company, in 2007 from Procter & Gamble. Danimer Scientific, the market leader in PHA, a biodegradable polymer, was formed in 2016 through the merger of Danimer Scientific LLC and Meredian Holdings Inc. In order to meet the demand for biodegradable polymers, Danimer Scientific now operates two facilities. Danimer became a publicly traded firm after a recent merger with Live Oak Acquisition Corp, a publicly traded special purpose acquisition company. It can customize biodegradable resins and has a manufacturing capacity of 10,000 tons annually. The range of items it produces includes resins, pellets, and extrusion goods. Danimer Scientific currently has a significant presence in both North America and Europe.

Kaneka Corporation, a chemical manufacturing company centered in Japan, specializes in creating a wide range of chemical products for various industries. The company delivers diverse range of product portfolio which include biodegradable materials,  functional resins, foam resins, expandable plastics, foodstuffs, life science products, electronic products, and synthetic products. The company operates through four distinct business segments, namely the healthcare solutions unit, material solutions unit, quality of life solutions unit, and nutrition solutions unit. As part of its new business development strategies, Kaneka is actively involved in expanding the production of KANEKA Biodegradable Polymer PHBH, showcasing its commitment to sustainable solutions and innovative advancements in the field.. This initiative takes place within the material solutions unit at its Takasago factory in Japan. The company employs vegetable oils and other biomass as raw materials for this polymer. Its product range tailors to applications such as agricultural, food packaging materials, civil engineering materials, and marine materials. In addition to Japan, Kaneka has established a presence in Asia Pacific,  North America, and Europe.

Related Reports:

Polyhydroxyalkanoate (PHA) Market by Type (Short chain length, Medium Chain Lenth), Production Methods (Sugar Fermentation, Vegetable Oil Fermentation), Application (Packaging & Food Services, Biomedical), and Region - Global Forecast to 2028

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