Global Polyglycolic Acid Market Size – By Product Type (Films, Fibers, Powders and Resins), By End-use (Healthcare & Medical Devices, Agriculture, Packaging, Oil & Gas, Cosmetics & Personal Care and Others), By Distribution Channel (Direct Sales, Distributors, Online Sales and Retail) & Region – Global Forecasts 2024 - 2034
- PUBLISHED ON
- 2024-08-19
- NO OF PAGES
- 320
- CATEGORY
- Chemicals & Materials
Market Overview
The Polyglycolic Acid market is predicted to develop at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2034, when it is projected to reach USD 12,631.85 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 5,945.48 Million in 2024.
SOURCE: We Market Research
Polyglycolic
acid (PGA) is a biodegradable, thermoplastic polymer that has gained attention
for its unique properties, such as high tensile strength, biodegradability, and
biocompatibility. It is widely used in the medical field for surgical sutures,
drug delivery systems, and tissue engineering. Additionally, Polyglycolic Acid's
application in packaging, especially for food products, is rising due to
increasing environmental concerns and demand for sustainable packaging
solutions.
The global
polyglycolic acid market is expected to grow steadily over the next few years,
driven by its expanding application in the medical field and increasing demand
for sustainable packaging solutions. Innovations in production technologies and
cost reductions could further enhance market growth. The Asia-Pacific region is
likely to emerge as a key market, supported by robust industrial growth and
increasing environmental regulations.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 5,945.48 Million |
|
Market
Forecast in 2034 |
USD 12,631.85
Million |
|
CAGR % 2024-2034 |
10.2% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Product Type,
By End-use, By Distribution Channel and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Polyglycolic Acid Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Polyglycolic Acid Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Polyglycolic Acid Segmentation
Market- By Product Type Analysis
By Product Type, the Polyglycolic Acid market is categories into Films, Fibers, Powders and Resins. Fibers segments dominate the market with the largest share, accounting for over 45% of the market in 2023. Polyglycolic Acid fibers are primarily used in the medical industry for the production of biodegradable sutures and meshes. Their high tensile strength and controlled degradation rates make them ideal for surgical applications. They are also used in tissue engineering scaffolds, drug delivery systems, and other medical devices.
The
following segments are part of an in-depth analysis of the global Polyglycolic
Acid market:
|
Market Segments |
|
|
By Product
Type |
·
Films ·
Fibers ·
Powders ·
Resins |
|
By End-use |
·
Healthcare & Medical Devices ·
Agriculture ·
Packaging ·
Oil & Gas ·
Cosmetics & Personal Care ·
Others |
|
By
Distribution Channel |
·
Direct Sales ·
Distributors ·
Online Sales ·
Retail |
Polyglycolic Acid Industry: Regional Analysis
North America Market Forecast
North America
dominates the global Polyglycolic Acid market, accounting for around 40% of the
market share in 2023. North America is a leading region in the global Polyglycolic
Acid market, driven by strong demand in the medical and oil & gas sectors.
The region has a well-established healthcare infrastructure and a robust oil
& gas industry, both of which contribute to the high demand for Polyglycolic
Acid. The U.S. and Canada have a highly developed healthcare sector, with
significant use of PGA in surgical sutures, tissue engineering, and drug
delivery systems.
Europe Market Statistics
Europe is
another significant market for Polyglycolic Acid, with strong demand driven by
the region's focus on sustainability and environmental protection. The medical
and packaging industries are the primary consumers of Polyglycolic Acid in
Europe. Europe has some of the world's strictest environmental regulations,
which encourage the use of biodegradable materials like Polyglycolic Acid in
various applications, especially packaging.
Asia Pacific Market Forecasts
The Asia-Pacific
region is expected to witness the fastest growth in the Polyglycolic Acid
market, driven by rapid industrialization, urbanization, and increasing
healthcare expenditures. Countries like China, Japan, and South Korea are
leading the regional market. The expanding healthcare sector in countries like
China and India is driving the demand for Polyglycolic Acid in medical
applications.
Middle East & Africa Market Statistics
The Middle East & Africa (MEA) region represents a smaller share of the global Polyglycolic Acid market. However, the region has potential for growth, particularly in the oil & gas and healthcare sectors. The significant presence of the oil & gas industry in the Middle East could drive the demand for Polyglycolic Acid, especially in applications like downhole tools for hydraulic fracturing.
Key Market Players
The Polyglycolic Acid Market is dominated by a few
large companies, such as
·
Kureha Corporation
·
Corbion N.V.
·
Shenzhen Polymtek Biomaterial Co.,
Ltd.
·
BMG Incorporated
·
EIWA Chemical Ind. Co., Ltd.
·
Huizhou Foryou Medical Devices Co.,
Ltd.
·
Teleflex Incorporated
·
Samyang Corporation
·
Henan Guangtong Polymers Co., Ltd.
· Lianhuan Pharmaceutical Co., Ltd.
1.
Global
Polyglycolic Acid Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Polyglycolic Acid Market
Scope and Market Estimation
1.2.1. Global Polyglycolic Acid Overall
Market Size (US$ Bn) and Volume (Tons), Market CAGR (%), Market forecast (2024
- 2034)
1.2.2. Global Polyglycolic Acid Market
Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Product Type of Global Polyglycolic
Acid Market
1.3.2. Distribution Channel of Global Polyglycolic
Acid Market
1.3.3. End-use of Global Polyglycolic
Acid Market
1.3.4. Region of Global Polyglycolic
Acid Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Limitations
2.5.3. Opportunities
2.5.4. Impact Analysis of Drivers and
Restraints
2.6. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.7. Cost Tear Down Analysis
2.8. Key Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
2.13. Production Process Overview
3.
Global Polyglycolic Acid Market Estimates & Historical Trend Analysis (2019 - 2023)
4.
Global Polyglycolic Acid Market Estimates & Forecast Trend Analysis, by
Product Type
4.1. Global Polyglycolic Acid Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Product Type, 2019
- 2034
4.1.1. Films
4.1.2. Fibers
4.1.3. Powders
4.1.4. Resins
5.
Global Polyglycolic Acid Market Estimates & Forecast Trend Analysis, by
Distribution Channel
5.1. Global Polyglycolic Acid Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Distribution
Channel, 2019 - 2034
5.1.1. Direct Sales
5.1.2. Distributors
5.1.3. Online Sales
5.1.4. Retail
6.
Global Polyglycolic Acid Market Estimates & Forecast Trend Analysis, by
End-use
6.1. Global Polyglycolic Acid Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by End-use, 2019 -
2034
6.1.1. Healthcare & Medical Devices
6.1.2. Agriculture
6.1.3. Packaging
6.1.4. Oil & Gas
6.1.5. Cosmetics & Personal Care
6.1.6. Others
7.
Global Polyglycolic Acid Market Estimates & Forecast Trend Analysis,
by Region
7.1. Global Polyglycolic Acid Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 -
2034
7.1.1. North America
7.1.2. Western Europe
7.1.3. Eastern Europe
7.1.4. Asia Pacific
7.1.5. Middle East & Africa
7.1.6. Latin America
8.
North
America Polyglycolic Acid Market: Estimates & Forecast Trend Analysis
8.1.
North
America Polyglycolic Acid Market Assessments & Key Findings
8.1.1. North America Polyglycolic Acid
Market Introduction
8.1.2. North America Polyglycolic Acid
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
8.1.2.1. By Product Type
8.1.2.2. By Distribution
Channel
8.1.2.3. By End-use
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Western
Europe Polyglycolic Acid Market: Estimates & Forecast Trend Analysis
9.1. Western Europe Polyglycolic Acid
Market Assessments & Key Findings
9.1.1. Western Europe Polyglycolic Acid
Market Introduction
9.1.2. Western Europe Polyglycolic Acid
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
9.1.2.1. By Product Type
9.1.2.2. By Distribution
Channel
9.1.2.3. By End-use
9.1.2.4.
By
Country
9.1.2.4.1.
Germany
9.1.2.4.2.
Italy
9.1.2.4.3.
U.K.
9.1.2.4.4.
France
9.1.2.4.5.
Spain
9.1.2.4.6.
Benelux
9.1.2.4.7.
Nordics
9.1.2.4.8. Rest
of W. Europe
10. Eastern Europe Polyglycolic
Acid Market: Estimates & Forecast
Trend Analysis
10.1. Eastern Europe Polyglycolic Acid
Market Assessments & Key Findings
10.1.1. Eastern Europe Polyglycolic Acid
Market Introduction
10.1.2. Eastern Europe Polyglycolic Acid
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
10.1.2.1. By Product Type
10.1.2.2. By Distribution
Channel
10.1.2.3. By End-use
10.1.2.4. By Country
10.1.2.4.1.
Russia
10.1.2.4.2.
Hungary
10.1.2.4.3.
Poland
10.1.2.4.4.
Balkan & Baltics
10.1.2.4.5. Rest of E. Europe
11. Asia Pacific Polyglycolic
Acid Market: Estimates & Forecast
Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Polyglycolic Acid
Market Introduction
11.1.2. Asia Pacific Polyglycolic Acid
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
11.1.2.1. By Product Type
11.1.2.2. By Distribution
Channel
11.1.2.3. By End-use
11.1.2.4. By Country
11.1.2.4.1. China
11.1.2.4.2. Japan
11.1.2.4.3. India
11.1.2.4.4. Australia & New Zealand
11.1.2.4.5. South Korea
11.1.2.4.6. ASEAN
11.1.2.4.7. Rest of Asia Pacific
12. Middle East & Africa Polyglycolic
Acid Market: Estimates & Forecast
Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Polyglycolic
Acid Market Introduction
12.1.2. Middle
East & Africa Polyglycolic
Acid Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
12.1.2.1. By Product Type
12.1.2.2. By Distribution
Channel
12.1.2.3. By End-use
12.1.2.4. By Country
12.1.2.4.1. UAE
12.1.2.4.2. Saudi
Arabia
12.1.2.4.3. Turkey
12.1.2.4.4. South
Africa
12.1.2.4.5. Rest of
MEA
13. Latin America
Polyglycolic Acid Market: Estimates
& Forecast Trend Analysis
13.1. Latin America Market Assessments
& Key Findings
13.1.1. Latin America Polyglycolic Acid
Market Introduction
13.1.2. Latin America Polyglycolic Acid
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
13.1.2.1. By Product Type
13.1.2.2. By Distribution
Channel
13.1.2.3. By End-use
13.1.2.4. By Country
13.1.2.4.1. Brazil
13.1.2.4.2. Argentina
13.1.2.4.3. Colombia
13.1.2.4.4. Rest of
LATAM
14. Country Wise Market:
Introduction
15. Competition Landscape
15.1. Global Polyglycolic Acid Market Product
Mapping
15.2. Global Polyglycolic Acid Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
15.3. Global Polyglycolic Acid Market Tier
Structure Analysis
15.4. Global Polyglycolic Acid Market
Concentration & Company Market Shares (%) Analysis, 2023
16. Company Profiles
16.1. Kureha
Corporation
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product Portfolio
16.1.4. SWOT Analysis
16.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
16.2. Corbion N.V.
16.3. Shenzhen
Polymtek Biomaterial Co., Ltd.
16.4. BMG Incorporated
16.5. EIWA Chemical
Ind. Co., Ltd.
16.6. Huizhou Foryou
Medical Devices Co., Ltd.
16.7. Teleflex
Incorporated
16.8. Samyang
Corporation
16.9. Henan
Guangtong Polymers Co., Ltd.
16.10. Lianhuan
Pharmaceutical Co., Ltd.
16.11. Others
17. Research
Methodology
17.1. External Transportations /
Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research
Findings & Conclusion
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Frequently Asked Questions
What is the market size of Polyglycolic Acid Market in 2024?
Polyglycolic Acid Market was valued at USD 5,945.48 Million in 2024.
What is the growth rate for the Polyglycolic Acid Market?
Polyglycolic Acid Market size will increase at approximate CAGR of 10.2% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Kureha Corporation, Corbion N.V., Shenzhen Polymtek Biomaterial Co., Ltd., BMG Incorporated, EIWA Chemical Ind. Co., Ltd., Huizhou Foryou Medical Devices Co., Ltd., Teleflex Incorporated, Samyang Corporation, Henan Guangtong Polymers Co., Ltd., Lianhuan Pharmaceutical Co., Ltd. and others.
Which region dominates the Polyglycolic Acid Market?
North America dominates the market with an active share of 40%.
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