Europe Polyglycolic Acid Market to showcase significant growth by 2024, Key Players like Kureha, Corbion N.V., Teleflex Inc., Shenzhen Polymtek Biomaterial Co. Ltd., BMG Incorporated

As per a research report, Europe polyglycolic acid market is predicted to register a CAGR of 8 per cent over 2016-2024. Based on the geographical standards, Europe is estimated to stand as one of the biggest recipients of the overall industry revenue. The region is observing promising demand for the PGA materials which will spur the Europe polyglycolic acid market growth.

Furthermore, the region has progressively been launching projects to opt for biodegradable products.
Say for example, the European project- RefuCoat necessitated the development of completely recyclable barrier coating and bioplastic materials as an alternative to the aluminum- based packaging.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/2415

In 2016, medical applications were the leading contributor towards polyglycolic acid market size with more than 60% of the global share. Superior tensile strength, easy handling and strong holding strength through the wound healing span, such features are estimated to drive the application of the product in the medical sector.

Demand for packaged beverages such as energy drinks and soft drinks is amplifying the demand for PET bottles across the globe. Polyglycolic acid market in polyglycolide film segment is expected to register CAGR of more than 8.5% by the end of 2024, with increasing awareness regarding the efficiency of the product as an inner layer in PET bottles. In 2016, the fiber form of product accounted for more than 40% share and will garner significant gains by the end of forecasted timeframe due to strong filtration and medical applications.

Regionally, North America is anticipated to dominate polyglycolic acid market share. In 2016, the region held over 60% of the market share. Though the total rig count declined in the region after the reduction in crude oil process, the requirement for PGA frac plus is expected to witness extreme growth.

Get Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/polyglycolic-acid-market

Major key players in the polyglycolic acid market are Kureha Corporation, Huizhou Foryou Medical Devices Co. Ltd, Corbion N.V., Teleflex Inc., Shenzhen Polymtek Biomaterial Co. Ltd., and BMG Incorporated.

According to a new research report, global polyglycolic acid market will exceed US$9 billion by 2024. Explained below are some factors likely to impact the industry size in the coming years.

Polyglycolide has recently been officially approved as biodegradable plastic and fits to use in day to day applications by governments of the U.S., Europe, and Japan. The key market of biodegradable plastics has been packaging sector with the emphasis of leading companies, who are shifting towards compostable and degradable polymers.

Browse More News:

https://www.prnewswire.com/news-releases/polyurea-market-projected-to-surpass-1-95-billion-by-2026--says-global-market-insights-inc-301105963.html

https://www.prnewswire.com/news-releases/humic-acid-market-to-reach-1-4-billion-by-2026--says-global-market-insights-inc-300981262.html

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.