Polyglycolic Acid Market Analysis Focusing on Top Key Players – Polymtek, Corbion Corporation, BMG, Foryou Medical Ltd. Corbion NV & More

Over the recent years, the polyglycolic acid market has established a commendable presence in the healthcare industry owing to its increasing usage in cardiovascular surgeries. The rapid growth being observed in geriatric population and rising incidence of hypertension are the major causes which have led to a spurt in cardiovascular diseases globally. As polyglycolic acid (PGA) is a biodegradable and biocompatible polymer with high crystallinity, it is being increasingly preferred by healthcare providers worldwide.

Market Study Report adds a new Polyglycolic Acid Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 4.7% CAGR to 2024.

Polyglycolic Acid Market will surpass USD 9 billion by 2024; according to a new research report. Polyglycolic acid market shall witness a significant demand from packaging industry by 2024 as disposal of non-degradable plastics has been a serious issue for the sustainable environment especially in North America and Europe. Packaging sector has been the primary market of biodegradable plastics with drifting focus of industry players towards degradable and compostable polymers. The U.S., Europe and Japan governments have officially approved polyglycolide to be biodegradable plastic and has made fit to use in day to day applications. Polyglycolic acid (polyglycolide) demonstrates ideal barrier against various gases such as CO2, O2, N2 and moisture vapor especially in food & beverage packaging. Its barrier properties have been found to have no impact of high relative humidity conditions in comparison with Ethylene Vinyl Alcohol (EVOH), MXD6 and other common barrier materials. These features of polyglycolic acid exhibit strong growth aspects in the near future.

Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/871735/

Polyglycolide film segment is projected to rise with more than 8.5% CAGR by 2024, with rising awareness of product efficiency as an inner layer in multi-layered PET bottles. The fiber form of product held above 40% share in the year 2016 and shall observe substantial gains by 2024 with increasing demand in medical and filtration applications.

Medical industry has been the largest contributor of polyglycolic acid market revenue in 2016 with a massive share over 60%. Polyglycolic acid has unique characteristics including: high initial tensile strength, easy handling, robust holding strength through the perilous wound healing span, even passage through the tissue and ideal knotting ability. These aspects are expected to propel global polyglycolide market for medical applications. The newer product applications such as packaging and shale gas extraction are also certain to expand at a rapid pace during the forecast timespan.

The global polyglycolic acid market was led by North America in 2016, holding market share more than 60%. Even though the total rig count dwindled in North America after the decline in crude oil prices, demand for PGA frac plugs is projected to be extremely high over the forecast timespan. Europe will also share substantial gains close to 8% CAGR by 2024. The region marks significant trends depicting promising gains for PGA in coming years. For instance, a recent European project- RefuCoat entailed development of fully recyclable barrier coatings and bioplastic materials for films & trays, replacing the aluminium-based packaging structures. Another trend in the region encouraging biodegradable plastics has been the prohibition of non-biodegradable cotton buds in Italy from December 2017.

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/871735/

Polyglycolide film segment is projected to rise with more than 8.5% CAGR by 2024, with rising awareness of product efficiency as an inner layer in multi-layered PET bottles. The fiber form of product held above 40% share in the year 2016 and shall observe substantial gains by 2024 with increasing demand in medical and filtration applications.

In 2016, the overall polyglycolide market was monopolistic, as Kureha Corporation contributing to over 75% market share. The company has been engaged in substantial product development with strong focus on the downstream markets. Other industry players include: Polymtek, Corbion Corporation, BMG, Foryou Medical Ltd. Corbion NV is a market leader in PGA for bone graft applications.

More Details on this Report At: https://www.marketstudyreport.com/reports/polyglycolic-acid-market

Outer Scope of this report: Apart from gaining extensive popularity across the healthcare sector, the polyglycolic acid market has been garnering laudable remuneration from the swiftly expanding packaging business. In this context, it is quite imperative to mention that the global packaging sector has shifted its focus from the conventional plastic solutions to biodegradable and recyclable alternatives in the recent times. Apparently, PGA has emerged as one of the most viable environment friendly solution for the packaging domain. Moreover, numerous research initiatives are being rolled out to develop sustainable packaging solutions that can preserve food and beverages in optimal conditions. For instance, the project REFUCOAT has been launched by AIMPLAS, a Spanish plastics research center, to develop a new PGA based polymer which could be used in food packaging in the form of trays and films. Reportedly, PGA would be integrated with silica oxide to design a hybrid coating with water vapor and oxygen barrier properties. Needless to mention, the outcomes of such encouraging research programs would certainly boost the polyglycolic acid industry share.

Related Report:

Global Polyglycolic Acid Market Professional Survey Report 2018

This report studies Polyglycolic Acid in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025.

https://www.marketstudyreport.com/reports/global-polyglycolic-acid-market-professional-survey-report-2018/?utm_source=RR-PSR

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:
Market Study Report
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog

This release was published on openPR.