Polyglycolic Acid Market: Definition and Introduction 2023 to 2033
The global polyglycolic acid market is expected to register a staggering double-digit CAGR of 10% by garnering a market value of US$ 13 Billion. The growth of the market can be attributed to:
PGA is a biodegradable plastic, which means that it can be broken down by natural processes, making it a more environmentally friendly option than traditional plastics.
PGA is commonly used in medical applications, such as sutures and wound dressings, due to its strength, biocompatibility, and absorbability. PGA is also used in agriculture, for example as a mulch film, to help retain moisture, and to control weeds. Thus, its multi-purpose use in different end user industries is boosting the demand for PGA.
Advancements in PGA production technology have led to lower costs and improved quality, making it more accessible to a wider range of industries.
PGA is used as a filament for 3D printing, as it can be easily extruded and has high strength and thermal stability. PGA is used in a range of consumer goods, such as packaging materials and disposable products, due to its biodegradability. GA is biocompatible, meaning it does not cause an adverse reaction when in contact with living tissue. This makes it suitable for use in medical applications such as sutures and wound dressings.
PGA is absorbable, meaning that it can be broken down and absorbed by the body over time. This makes it ideal for use in medical applications where the material needs to be removed after a certain period of time. PGA is strong and durable, making it suitable for use in a wide range of applications. PGA is flexible and can be easily shaped and formed, making it suitable for use in a wide range of applications. PGA can be used in medical industry, agriculture, 3D printing, consumer goods, packaging materials and disposable products, due to its biodegradability, strength, flexibility and cost-effectiveness.
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End User Industries Creating Lucrative Opportunities for Polyglycolic Acid Market in North America
The North America polyglycolic acid (PGA) market is a rapidly growing market, driven by increasing demand for biodegradable plastics, medical applications, and agriculture. The United States and Canada are the major countries contributing to the growth of the market.
The North American PGA market is characterized by the presence of several key players such as Medtronic, Johnson & Johnson, Ethicon, Inc., Boston Scientific Corporation, Smith & Nephew, and others. These companies are majorly focusing on the development of new products to meet the increasing demand for PGA in the market.
Overall, the North America PGA market is expected to grow in the future, driven by the increasing demand for biodegradable plastics, medical applications, agriculture, and 3D printing. The market is expected to witness significant growth in the coming years, as the demand for PGA continues to rise in the region.
Future of Polyglycolic Acid Market
The future of the polyglycolic acid (PGA) market looks promising, driven by increasing demand for3D printing, medical applications, agriculture, and biodegradable plastics. Advancements in PGA production methods have led to a more efficient and cost-effective production process. This includes the development of new catalysts, new polymerization processes, and new purification methods.
Modification of the chemical structure: Researchers have developed new methods to modify the chemical structure of PGA, which has led to the development of new grades of PGA with improved properties such as higher strength, better thermal stability and increased biodegradability. Blending with other polymers: Researchers have developed new methods to blend PGA with other polymers to improve its properties, such as increased strength and improved thermal stability.
Overall, technological advancements in PGA production and modification have led to the development of new grades of PGA with improved properties such as higher strength, better thermal stability and increased biodegradability which makes it more accessible and desirable for a wide range of industries.
Polyglycolic acid is the first synthetic absorbable structure introduced. It is biodegradable in nature and a thermoplastic polymer. The key application Polyglycolic acid is found in surgical material owing to its tissue reactivity, high tensile strength, hydraulic stability, and excellent knotting ability.
It is produced through two process: ring-opening polymerization of glycolide and polycondensation of glycolic acid. They can be composted easily comparatively petroleum based products and not even emit toxic gases during incineration. This factors will lead to fuel the demand for Polyglycolic Acid over forecast period.
Polyglycolic Acid application in medical sector
Polyglycolic acid have its key application in medical industry. It is used in the field of transluminal coronary, hysterectomy, angioplasty, total mastectomy and other surgical field. This is the key factor for driving the global market growth of polyglycolic acid.
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Polyglycolic Acid Market: Market Dynamics
Fiber form of polyglycolic acid will lead the overall polyglycolic acid market owing to the factor that the demand for fiber form polyglycolic acid is increased by the medical industry for the formation of absorbable surgical sutures. Surgical sutures are widely used for therapeutic treatment which is associated with the field of gynecological and obstetric, ophthalmic, orthopedic, urological and other medical department.
Rising consumption of processed and packaged foods such as ready to eat-meal and frozen food, snacks and cake mixes is projected to fuel demand for flexible packaging solutions, which intend to drive the growth of Polyglycolic Acid market owing to its application in packaging industries. Key application of Polyglycolic Acid in packaging, agriculture, electronics, transport and textiles is anticipated to fuel the global market growth.
The global market of Polyglycolic Acid will fuel in forecast period owing to all this application Polyglycolic Acid has relatively low glass transition temperature. This make it unsuitable for high temperature applications. Polyglycolic Acid is relatively more brittle than ABS for 3d prototyping. These factors will hamper the global market of Polyglycolic Acid.
Polyglycolic Acid Market: Regional Outlook
Increasing number of oil & gas industries demand for the biodegradable polyglycolic acid in various countries such as Saudi Arabia, China, Japan, India and Germany is anticipated to fuel the growth of regional market of Polyglycolic Acid owing to the application of Polyglycolic Acid in shopping bags and disposable cutlery.
Rising demand for packaged food in North America leads to fuel the growth of Polyglycolic Acid market owing to consumption of Polyglycolic Acid in packaging material. Significant presence of old age population with increasing number of orthopedic, cardiac and hysterectomy surgeries in this region anticipated to drive the growth of polyglycolic acid in Mexico, Canada and US.
Europe is witnessed to have prominent growth of Polyglycolic Acid market over the forecast period owing to the stringent government regulation on the consumption of biodegradable product.
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Polyglycolic Acid Market: Market participants
Example of some market participant in Global Polyglycolic Acid market identified across the value chain include:
Huizhou Foryou Medical Devices Co., Ltd. (China)
Kureha Corporation (Japan)
Corbion (Netherland)
Teleflex Incorporated (US)
BMG Incorporated (Japan)
Shenzhen Polymtek Biomaterial Co., (China)
Polyglycolic Acid Market: Segmentation
The global market of Polyglycolic Acid can be segmented on the basis of type, form, end use industries, and manufacturing process:
On the basis of type the global market of Polyglycolic Acid can be segmented as:
Racemic Polyglycolic Acid
Regular Polyglycolic Acid
Poly-DL-lactic acid
On the basis of form the global market of Polyglycolic Acid can be segmented as:
Fibers
Films
Others (plate, rod and composites)
On the basis of end use industries the global market of Polyglycolic Acid can be segmented as:
Medical
Oil & Gas
Packaging
Others (civil engineering, agriculture and filters)
On the basis of manufacturing process the global market of Polyglycolic Acid can be segmented as:
