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Polyglycolic Acid Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
The global Polyglycolic Acid market was valued at US$ 111.2 million in 2022 and is anticipated to reach US$ 387.3 million by 2029, witnessing a CAGR of 22.9% during the forecast period 2023-2029.
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Polyglycolic Acid Market
Polyglycolide or poly(glycolic acid) (PGA), also spelled as polyglycolic acid is a biodegradable, semi-crystalline thermoplastic. It is also the simplest linear, aliphatic polyester. PGA resins are known for their excellent gas barrier properties, relative high strength, and excellent biodegradability. Some grades have a biodegradation rate similar to cellulose and decompose under composting conditions into CO2 and water within one month.
PGA and its copolymers such as poly(lactic-co-glycolic acid), and poly(glycolide-co-caprolactone) are used in a number of applications. Due to PGA's very low permeability to O2 and CO2, it can be used as a packaging film for oxygen sensitive products, for example as an interlayer between two polyester films. Other important applications include shale gas extraction and other industrial processes as well as synthetic fast absorbable sutures for internal surgeries.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global core polyglycolic acid manufacturers include Kureha, Corbion etc.The top 2 companies hold a share about 55%. North America is the largest market, with a share about 45%, followed by China and Europe with the share about 18% and 12%.In terms of product, industrial grade is the largest segment, with a share over 50%. And in terms of application, the largest application is oil and gas industry, followed by medical industry.
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Report Scope
This report aims to provide a comprehensive presentation of the global market for Polyglycolic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Polyglycolic Acid.
The Polyglycolic Acid market size, estimations, and forecasts are provided in terms of output/shipments (MT) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Polyglycolic Acid market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Polyglycolic Acid manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
By Type
• Industrial Grade
• Medical Grade
By Application
• Oil and Gas Industry
• Medical Industry
• Packing Industry
Key Players
Kureha, Corbion, BMG, Evonik, Teleflex, Samyang Biopharm, Meta Biomed, Shanghai Pujing Chemical, Shenzhen Polymtek Biomaterial, Huizhou Foryou Medical Device, Danhua Technology
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