Polyglycolic Acid Market Trends, Size, Growth & Forecast 2029

Market Overview
Polyglycolic Acid Market is estimated to reach a high CAGR during the forecast period (2022-2029).

A semi-crystalline thermoplastic that is biodegradable is polyglycolic acid (PGA). It is the most straightforward linear aliphatic polyester. Outstanding gas barrier qualities, relatively high strength and excellent biodegradability are all attributes of PGA resins. Some grades disintegrate in a month under composting conditions into CO2 and water and have a biodegradation rate comparable to cellulose. Aliphatic polyester made from polyglycolic acid is generated from fossil fuels. Additionally, it has great short-term stability in ambient circumstances and is known to deteriorate through biodegradation in about a year.

The distinct qualities of polyglycolic acid have fueled the global market's growth in various industries, including shale oil & gas extraction and industrial operations. A pore-forming agent has been utilized, polyglycolic acid. Its commercial grades have also been utilized for fracturing and sealing oil & gas wells, such as Kuredux® from Kureha Corp. and TLF-6267 PGA from DuPont Specialty Chemicals. Polyglycolic acid has been suggested for use in shale gas and oil exploration because it can produce extremely robust and biodegradable polymers.

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Market Dynamics
The growing usage of polyglycolic acid in the automotive industry
Components utilized in the automobile industry are made using polylactic acid. Polylactic acids are employed in applications like hood under components and interior parts. Due to its high bio content, this product is renowned for lowering its carbon impact. Numerous qualities are available, including high gloss, dimensional stability, UV resistance, impact resistance, and color capabilities.

The elements make it an alternative to conventional plastics for vehicle engine compartments and interiors. These include polyethylene terephthalate, polycarbonate, polybutylene terephthalate, acrylonitrile butadiene styrene, and polyamide.

High costs of polyglycolic acid
The distinctive attributes of polyglycolic acid (PGA) include high gas barrier qualities, high tensile strength, high resistance to common organic solvents, high heat distortion temperature, high stiffness and quick biodegradability & composability. Nevertheless, this polymer has not been widely utilized because of its relatively high production cost.

As a result, mixing PGA with other bioplastics could, while keeping its "green" attributes, lower the material's overall cost and reveal new qualities. Polyglycolic acid is more expensive and typically has fewer mechanical and physical qualities than conventional petroleum-based polymers. It has only been created in limited amounts as a pricey, high-value product because there hasn't been a technology that allows for low-cost mass production.

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Market Segmentation:
By Form
• Fiber
• Films
• Others
By Application
• Medical
• Oil & Gas
• Packaging

Competitive Landscape
The global polyglycolic acid sector is extremely competitive due to well-established rivals. The businesses have implemented several growth tactics to improve their market position. The primary growth tactics used by these major companies to increase their product offerings and geographical presence and satisfy the rising demand for polyglycolic acid from emerging nations include joint ventures and expansion.
Major global polyglycolic acid market companies include Kureha Corporation, Corbion, Shenzhen Polymtek Biomaterial Co, Ltd., BMG Incorporated, Huizhou Foryou Medical Devices Co., Ltd., Teleflex Incorporated, Unilene, The Chemours Company, Merck KGaA and Boen Healthcare Co., Ltd.

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