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According to our LPI (LP Information) latest study, the global Polyglycolic Acid market size was valued at US$ 109.6 million in 2023. With growing demand in downstream market, the Polyglycolic Acid is forecast to a readjusted size of US$ 516.4 million by 2030 with a CAGR of 24.8% during review period.
The research report highlights the growth potential of the global Polyglycolic Acid market. Polyglycolic Acid are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Polyglycolic Acid. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the 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.
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.
Key Features:
The report on Polyglycolic Acid market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Polyglycolic Acid market. It may include historical data, market Segmentation by Type (e.g., Industrial Grade, Medical Grade), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Polyglycolic Acid market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Polyglycolic Acid market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Polyglycolic Acid industry. This include advancements in Polyglycolic Acid technology, Polyglycolic Acid new entrants, Polyglycolic Acid new investment, and other innovations that are shaping the future of Polyglycolic Acid.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Polyglycolic Acid market. It includes factors influencing customer ' purchasing decisions, preferences for Polyglycolic Acid product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Polyglycolic Acid market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Polyglycolic Acid market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Polyglycolic Acid market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Polyglycolic Acid industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Polyglycolic Acid market.
Market Segmentation:
Polyglycolic Acid market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
- Industrial Grade
- Medical Grade
Segmentation by application
- Oil and Gas Industry
- Medical Industry
- Packing Industry
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Kureha
- Corbion
- BMG
- Evonik
- Teleflex
- Samyang Biopharm
- Meta Biomed
- Shanghai Pujing Chemical
- Shenzhen Polymtek Biomaterial
- Huizhou Foryou Medical Device
- Danhua Technology
Key Questions Addressed in this Report
What is the 10-year outlook for the global Polyglycolic Acid market?
What factors are driving Polyglycolic Acid market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Polyglycolic Acid market opportunities vary by end market size?
How does Polyglycolic Acid break out type, application?