Polyglycolic Acid Market in Oil & Gas Industry Will Reach USD 106,888.41 thousand by 2029| Top Players: KUREHA CORPORATION and The Chemours Company

Market Definition

Polyglycolic acid (PGA) has a similar chemical structure to PLA but without the methyl side group, which allows the polymer chains to pack together tightly and results in a high degree of crystallinity, high thermal stability, exceptionally high gas barrier, as well as high mechanical strength and stiffness. PGA is rapidly biodegradable and 100% compostable and has intrinsic characteristics such as high hydrophilicity, rapid degradation, insolubility in most organic solvents.

The PGA is highly beneficial in oil drilling activities. Data Bridge Market Research analyses that the polyglycolic acid market in oil & gas industry is expected to reach the value of USD 106,888.41 thousand by the year 2029, at a CAGR of 4.6% during the forecast period. Fibrous materials "account for the most prominent form segment in the respective market owing to rise in the oil drilling activities. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Polyglycolic acid (PGA), is a biodegradable polymer consisted of a simple linear aliphatic polyester. PGA is synthesized from glycolic acid monomers through polycondensation or ring-opening polymerization. It is a bulk degrading polymer with low solubility in water and organic solvents because of its high degree of crystallinity. The component is highly crystalline and consequently it presents a high melting point and low solubility in organic solvents.

Competitive Landscape and Global Polyglycolic Acid Market in Oil & Gas Industry Share Analysis

The global polyglycolic acid market in oil & gas industry competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global polyglycolic acid market in oil & gas industry.

The players operating in the polyglycolic acid market in oil & gas industry are KUREHA CORPORATION
The Chemours Company.

Read the Full Report Description with Table of Content and Figures @ https://www.databridgemarketresearch.com/reports/global-polyglycolic-acid-in-oil-and-gas-industry

COVID-19 had a Minimal Impact on Global Polyglycolic Acid Market in Oil & Gas Industry

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. However, significant impact was noticed on polyglycolic acid market. The operations and supply chain of polyglycolic acid, with multiple manufacturing facilities were still operating in the region. The service providers continued offering polyglycolic acid following sanitation and safety measures in the post-COVID scenario.

Global Polyglycolic Acid Market in Oil & Gas Industry Scope

The global polyglycolic acid market in oil & gas industry is segmented on the basis of form and application. The growth amongst these segments will help you analyze growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Form
Fibrous Materials
Powder/Granular
Films
Others

Application
Oil Extraction
Hydraulic Fracturing
Downhole Tools
Scale Control and Remediation
Horizontal Well Stimulation
Gypsum Removal
Metal Naphthenate Dissolution
Removal of Water Soluble Organics
Well Control
Pressure Management
Others

Polyglycolic Acid Market in Oil & Gas Industry Market Regional Analysis/Insights

The global polyglycolic acid market in oil & gas industry is segmented on the basis of form and application.

The countries of global polyglycolic acid market in oil & gas industry are U.S., Canada, Mexico, Russia, U.K., Belgium, Germany, Italy, France, Spain, Netherlands, Turkey, Switzerland and Rest of Europe, China, India, Indonesia, Malaysia, Thailand, Japan, South Korea, Philippines, Singapore, Australia & New Zealand and Rest of Asia-Pacific, Brazil, Argentina and Rest of South America, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel and Rest of Middle East and Africa.

North America is dominating the global polyglycolic acid market. Natural gas exploration from unconventional shale formations including shale gas, has recently arisen as an appealing energy supply to meet the increasing worldwide demand. During the last decade, development of horizontal drilling and hydraulic fracturing technologies have allowed flexibility in gas exploration from previously inaccessible shale deposits. This as a result increases the demand for PGA for shale gas and oil exploration in the region. The U.S is dominating the North America polyglycolic acid market in oil & gas industry due to the rising oil drilling operations in the country. On the other hand, Saudi Arabia is dominating the Middle East and Africa polyglycolic acid market in oil & gas industry due to the rising shale gas operations in the country. China dominates the Asia-Pacific polyglycolic acid market in oil & gas industry. The demand in this region is projected to be driven by rise in the oil drilling activities in the country.

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