Polyglycolic Acid Market Research Report 2024 | Valuates Reports

The global Polyglycolic Acid market was valued at US$ 112 million in 2023 and is anticipated to reach US$ 426.9 million by 2030, witnessing a CAGR of 23.9% during the forecast period 2024-2030.

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.

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Global core polyglycolic acid manufacturers include Kureha and Shanghai Pujing Chemical. The top 2 companies hold a share over 90%. North America is the largest market, with a share over 45%, followed by China and Europe with the share about 23% and 11%. In terms of product type, 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.

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.

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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This release was published on openPR.