The Latin America, Middle East and Africa Polyhydroxyalkanoate (PHA) Market would witness market growth of 16.7% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 6,244.4 tonnes, showcasing a growth of 14.5% (2024-2031).
In the Polyhydroxyalkanoate (PHA) market, biomedical applications represent a promising sector where PHA-based materials offer significant advantages. PHAs possess properties such as biocompatibility, biodegradability, and tunable mechanical properties, making them suitable for various biomedical applications. Thus, the Saudi Arabia market is expected to utilize 281.34 kilo tonnes of Polyhydroxyalkanoate in biomedical application by 2031.
The Brazil market dominated the LAMEA Polyhydroxyalkanoate (PHA) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,965.7 Thousands by 2031. The Argentina market is registering a CAGR of 17.6% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 16.3% during (2024 - 2031).
PHA-based materials can replace petroleum-based plastics in automotive interiors, including dashboard panels, door trims, seat components, and headliners. These materials offer comparable mechanical properties, thermal stability, and durability while reducing environmental impact.
Moreover, PHA-based materials are used in exterior components such as body panels, bumpers, side skirts, and spoilers. These materials offer lightweight, impact resistance, and weather ability, contributing to fuel efficiency and reducing carbon emissions.
The Saudi government has been increasing its healthcare expenditure to improve healthcare infrastructure, facilities, and services across the country. The growing population and increasing life expectancy drive the demand for healthcare services and medical products in Saudi Arabia. Technological innovations in PHA production processes have increased efficiency and reduced production costs, making PHAs more cost-effective and accessible for medical device applications in Saudi Arabia.
Free Valuable Insights: The Worldwide Polyhydroxyalkanoate (PHA) Market is Projected to reach USD 276.1 Million by 2031, at a CAGR of 15.1%
Based on Type, the market is segmented into Short Chain Length and Medium Chain Length. Based on Production Method, the market is segmented into Sugar Fermentation, Vegetable Oil Fermentation, and Methane Fermentation. Based on Application, the market is segmented into Packaging & Food Services, Biomedical, Agriculture, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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)
By Country (Volume, Tonnes, USD Million, 2030-2031)
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