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.
Market Analysis and Insights: Global Polyglycolic Acid Market
Due to the COVID-19 pandemic, the global Polyglycolic Acid market size is estimated to be worth US$ 112.4 million in 2022 and is forecast to a readjusted size of US$ 387.3 million by 2028 with a CAGR of 22.9% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Industrial Grade accounting for % of the Polyglycolic Acid global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Oil and Gas Industry segment is altered to an % CAGR throughout this forecast period.
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.
Global Polyglycolic Acid Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Polyglycolic Acid Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Industrial Grade
Medical Grade
Segment by Application
Oil and Gas Industry
Medical Industry
Packing Industry
Others
By Company
Kureha
Corbion
BMG
Evonik
Teleflex
Samyang Biopharm
Meta Biomed
Shanghai Pujing Chemical
Shenzhen Polymtek Biomaterial
Huizhou Foryou Medical Device
Danhua Technology
Production by Region
Japan
South Korea
China
Europe
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina