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 |