Steady Expansion Forecast for Polyglycolic Acid Market, Projected to Reach $8.63 Billion by 2029

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Polyglycolic Acid Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a swift expansion in the polyglycolic acid market size in the last few years. Its worth will escalate from $5.22 billion in 2024 to $5.75 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. The surge in growth during the historical period can be linked to progress in polymer chemistry, usage in medical fields, legislative backing for biodegradable substances, initiatives in research and development, and the escalating demand in the oil and gas sector.

Polyglycolic Acid Market Size Forecast: What's the Projected Valuation by 2029?
In the near future, the polyglycolic acid market is anticipated to experience rapid expansion, with projections showing a rise to $8.64 billion in 2029, representing a compound annual growth rate (CAGR) of 10.7%. The expansion during the forecast period can be credited to factors such as the growing bioplastics market, increased demand in the packaging sector, rising number of surgical procedures, heightened environmental awareness, electronics industry requirements, and innovative medical devices. Notable trends for this period include the evolution of PGA production technology, its increasing application in the oil and gas sector, rising demand for PGA in farming, the transition towards artificial bio-based polymers, and research into using PGA in drug delivery systems.

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What Are the Drivers Transforming the Polyglycolic Acid Market?
The growing need in the packaging industry is anticipated to boost the polyglycolic acid market's expansion. The heightened demand for packaging, which is not only used for branding but also provides added protection to food products, is seen in several end-use industries like healthcare, food, cosmetics, and personal care. In high-gas barrier packaging applications, polyglycolic acid is widely favoured. For instance, Trivium Packaging, a packaging firm based in the Netherlands, reported in April 2023 that 82% of consumers were prepared to pay a premium for sustainable packaging, marking a 4 percentage point increase from 2022. The survey further highlighted that 71% of consumers purposely select products based on their packaging's sustainability, and 63% are unlikely to buy products that come with environmentally damaging packaging. Hence, the surging demand in the packaging industry is serving as a catalyst for the growth of the polyglycolic acid market.

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What Long-Term Trends Will Define the Future of the Polyglycolic Acid Market?
Novel developments in food packaging stand as a prominent trend in the polyglycolic acid market, drawing more attention. The main participants in this marketplace are placing an emphasis on creating environmentally friendly packaging to fortify their market standing. For instance, Notpla, a UK food container manufacturing firm, revealed seaweed-clad packs in December 2022. These were created as a greener substitute for conventional plastic packaging. The ground-breaking product aims to decrease plastic pollution in the food sector while championing sustainability with its organic, naturally decomposable elements.

Which Segments in the Polyglycolic Acid Market Offer the Most Profit Potential?
The polyglycolic acid market covered in this report is segmented -

1) By Form: Films, Fibers, Other Forms
2) By Distribution Channel: Online, Offline
3) By Industry: Pharmaceutical, Oil And Gas, Packaging, Other Industries

Subsegments:
1) By Films: Biodegradable Films, Barrier Films
2) By Fibers: Monofilament Fibers, Multifilament Fibers
3) By Other Forms: Granules, Coatings, Medical Devices

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Which Firms Dominate the Polyglycolic Acid Market by Market Share and Revenue in 2025?
Major companies operating in the polyglycolic acid market are 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., Danhua Chemical Technology Co. Ltd., Orion Sutures India Pvt. Ltd., Shandong Haidike Medical Products Co. Ltd., Advanced Medical Solutions Group PLC, Lotus Surgicals Private Limited, Biomaterial Co. Ltd., Toray Industries Inc., SK Chemicals Co. Ltd., Zhonglan Industry Co. Ltd.

Which Regions Offer the Highest Growth Potential in the Polyglycolic Acid Market?
North America was the largest region in the polyglycolic acid market in 2024. The regions covered in the polyglycolic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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