The Business Research Company’s report on the Polyglycolic Acid Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the polyglycolic acid industry?
Increasing demand in the packaging industry is expected to propel the growth of the polyglycolic acid market. Packaging used for branding and as an extra measure of protection for the food products is in high demand from several end-use industries, such as healthcare, food, cosmetics, and personal care. The polyglycolic acid is highly preferred in high-gas barrier packaging applications. For instance, in April 2023, according to Trivium Packaging, a Netherlands-based packaging company, 82% of consumers were willing to pay more for sustainable packaging, an increase of 4 percentage points compared to 2022. The report also highlighted 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. Therefore, increasing demand in the packaging industry is driving the polyglycolic acid market growth.
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What is the estimated market size of the polyglycolic acid sector by 2029, based on current forecasts?
The polyglycolic acid market size has grown rapidly in recent years. It will grow from $5.22 billion in 2024 to $5.75 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to advancements in polymer chemistry, medical applications, regulatory support for biodegradable materials, research and development initiatives, increasing demand in oil and gas industry.
The polyglycolic acid market size is expected to see rapid growth in the next few years. It will grow to $8.64 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to expanding bioplastics market, rising demand in packaging industry, increasing surgical procedures, growing awareness of environmental issues, demand in electronics industry, medical device innovations. Major trends in the forecast period include 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.
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#Who are the top players in the polyglycolic acid market?
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.
#What are the major trends in the polyglycolic acid market?
Product innovations in food packaging are a key trend gaining popularity in the polyglycolic acid market. Key players operating in the polyglycolic acid market are focusing on the development of sustainable packaging to strengthen their position in the market. For instance, in December 2022, Notpla, a UK-based food container manufacturer, launched seaweed-coated packs designed to provide a biodegradable alternative to traditional plastic packaging. This innovative product aims to reduce plastic waste in the food industry while promoting sustainability through its natural, compostable materials.
Which geography holds the highest polyglycolic acid market share?
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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How do different segments contribute to the overall expansion of the polyglycolic acid market?
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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How is the polyglycolic acid market defined?
Polyglycolic acid are the polymers degraded by chemical hydrolysis, a synthetic absorbable surgical suture of greater strength and flexibility that is absorbed and metabolized by the human body and has a longer period of absorption which results in very little inflammatory reaction. Polyglycolic acids are used in general surgery, plastic surgery, general closure, ligatures, pediatrics, and cuticular.
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