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Polyglycolic Acid Global Market Report 2025: Market Size Forecasts and Growth Drivers
Polyglycolic Acid Global Market Report
What Is The Projected Market Size Of The Global Polyglycolic Acid Global Market Report 2025 And Its Growth Rate?
• The market size for polyglycolic acid has seen rapid growth and will grow from $5.22 billion in 2024 to $5.75 billion in 2025 at a CAGR of 10.1%.
• This growth is attributed to advancements in polymer chemistry, medical applications, regulatory support for biodegradable materials, research and development initiatives, and the oil and gas industry.
• The market size is expected to continue its rapid growth, hitting $8.64 billion in 2029 at a CAGR of 10.7%
What Is Driving The Growth In The Polyglycolic Acid Global Market Report 2025?
The increasing demand in the packaging industry is expected to propel the growth of the polyglycolic acid market. The high demand for packaging, used for branding and additional measure of protection particularly for food products, from industries like healthcare, food, cosmetics, and personal care has led to the market growth. The polyglycolic acid is highly preferred in high-gas barrier packaging applications. According to Trivium Packaging, a Netherlands-based packaging company, in April 2023, 82% of consumers were willing to pay more for sustainable packaging. The report also indicated that 71% of consumers actively choose products based on the sustainability of their packaging, while 63% are less likely to purchase products with environmentally harmful packaging. Hence, this growing demand in the packaging industry is driving the polyglycolic acid market growth.
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Who Are the Key Players Driving Polyglycolic Acid Global Market Report 2025 Growth?
• Kureha Corporation
• Shenzhen Polymtek Biomaterial Co. Ltd.
• BMG Incorporated
• Huizhou Foryou Medical Devices Co. Ltd.
• Teleflex Incorporated
• Unisur Lifecare Pvt. Ltd.
• Meta Biomed Co. Ltd.
• Samyang Biopharm Corporation
• Merck Group
• DuPont de Nemours Inc.
• BASF SE
• Boen Healthcare Co. Ltd.
• Evonik Industries AG
• Shanghai Pujing Chemical Technology Co. Ltd.
What Are The Key Trends In The Polyglycolic Acid Global Market Report 2025?
• Advancements in PGA production technology
• Increasing use in oil and gas industry
• Growing demand for PGA in agriculture
• Shift towards synthetic bio-based polymers
• Research on PGA for drug delivery systems.
What Are The Segments Of The Global Polyglycolic Acid Global Market Report 2025?
• By Form: Films, Fibers, Other Forms
• By Distribution Channel: Online, Offline
• By Industry: Pharmaceutical, Oil And Gas, Packaging, Other Industries
Which Region Leads The Polyglycolic Acid Global Market Report 2025?
North America led the polyglycolic acid market in 2024. The report covers a multitude of regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, giving a comprehensive overview of the regional diversity and impact on the market.
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What Is Covered In The Polyglycolic Acid Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Polyglycolic Acid Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Polyglycolic Acid Global Market Report 2025 for effective categorisation.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Polyglycolic Acid Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Polyglycolic Acid Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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