Polyglycolic Acid Market by Application (Medical, Shale Gas & Oil Extraction, Packaging, Others) - Global Forecast till 2025

Polyglycolic acid, shortly abbreviated as PGA, is a thermo softening and biodegradable plastic polymer. The synthesis process of PGA starts with glycolic acid and the process involved in it are polycondensation for low molecular products and ring opening polymerization for high weight molecular products. As polyglycolic acid has ester linkage in its structure, it is not stable in hydrolytic conditions. The deterioration process is erosive and likely to take place in two steps, in which the polymer are reconstituted back to its monomeric glycolic acid form. Initially, the water disseminates into non-crystalline spaces of the polymer matrix, breaking the ester bonds and in the later stage, the amorphous portions start eroding leaving back the crystalline part of the polymer vulnerable to hydrolytic attack. Once crystalline portion collapses the polymer chain dissolves.

Biodegradable polymers are of utmost importance in biomedical applications. Back in 1962, PGA started using as the first synthetic absorbable suture. It is ideal material and widely used by surgeons all over the globe owing to its superior degradation behavior. PGA’s better highlights over catgut include outstanding tensile strength, predictable absorption, in-vivo inertness, and phenomenal healing properties.

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Factors impacting the market growth:
Surging wide application scope of the polyglycolic acid that encompasses drug delivery, dental, orthopedic and tissue engineering and manufacturing of implantable medical devices are some of the factors that uplift the growth of the polyglycolic acid market in reference to the healthcare industry. Growing demand for packaged food due to changing lifestyles of the people and increased disposable income, coupled with rising need of polyglycolic acid in the packaging industry further propel the market growth.

Recently evolved application of PGA in shale gas extraction and fuelling demand for shale gas is expected to stimulate the expansion of PGA market. However, lack of awareness among customers and huge price of polyglycolic acid are the two factors that might hamper the growth of the market.

Regional Analysis
The global polyglycolic acid market geographically segmented into North America, Asia-Pacific, Europe and Latin America, the Middle East & Africa.

The polyglycolic acid market is growing in ascending direction and the global market is expected to leverage positively. The growth of the market in North America is positively influenced, owing to increased use of polyglycolic acid in the commercial extraction of shale gas & oil and the existence of giant commercial manufacturers of the PGA, particularly Kureha Corp. Factors that are responsible for the growth in the European region are growing demand of PGA in the packaging industry. For instance, European Union recently announced one project with the name RefuCoat under which the European government will be developing recyclable barrier coatings and bio-plastic material for trays and films.

Aspects ascribed to Asia-Pacific market expansion include swiftly developing the commercial sector, advancement in healthcare domain and surging packaging industry pertaining to increased awareness among people regarding food hygiene. Other regions are anticipated to possess a moderate growth over the next couple of years.

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Competitive Landscape
There is a huge opportunity for the polyglycolic acid market to prosper in the coming future, especially in biomedical field and extraction of shale gas. Major players are infiltrating the market by undertaking strategies such as merger and acquisition. One of the prominent players in the global market of the polyglycolic acid market, Kureha Corporation, present in North America, is the only industrial-scale manufacturer of the material. Though medical sutures are the major applications of the PGA, Kureha aspires to evolve other benefits by deploying its patented cost-effective techniques. The company plans strong developmental strategies for expansion of its business outside North America in the coming future.

Global Polyglycolic Acid Market Segmentation
By Application:
Medical
Shale Gas Extraction
Packaging
Others

By Geography:
North America
U.S
Canada
Mexico
Europe
U.K
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
LAMEA
Brazil
UAE
Saudi Africa
South Africa
Rest of LAMEA

Market Key Players:
Kureha PGA LLC
EI Du Pont De Nemours & Co.
Teleflex Incorporated
Huizhou Foryou Medical Devices Co. Ltd.
Shenzhen Polymtek Biomaterial Co. Ltd
DemeTech Sutures
BMG Incorporated

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