Wide application areas within oil & gas especially in shale gas extraction, biomedical & packaging industry is fueling the demand for polyglycolic acid. Growing demand for PGA for clinical use owing to high strength, better handling, and minimum interface in wound healing is driving the growth. Also, increasing demand for advanced surgical equipment & tools within the medical industry is again expected to boost the PGA market growth. Further, the shift in consumer preference towards biodegradable plastics within the packaging industry will upsurge the demand for PGA market.
As per the latest report added by Value Market Research, the Global Polyglycolic Acid was valued at USD 240.9 MN in 2017 and is projected to reach USD 469.5 MN by 2024, with a CAGR of 9.9%.
SHALE GAS EXTRACTION LED THE APPLICATION SEGMENT
By application, shale gas extraction dominated the segment owing to the ability of PGA to reduce a viscosity of the fluid, improves productivity, & efficiency & better degradability is driving the segment growth. Shale gas extraction segment is anticipated to reach up to USD XX.X MN by the end of the year 2024.
BY REGION, NORTH AMERICA DOMINATED THE MARKET
North America led the regional segment owing to major producer and consumer of shale gas along with rising demand for packaged food products is key driver for the market growth. By end of the year 2024, North American PGA market is expected to reach USD XX.X MN. Also, the growth can be attributed to the favorable government norms on the usage of biodegradable plastics are the factors boosting the PGA market.
KEY PLAYERS OF THE PGA MARKET
Polyglycolic acid market is moderately competitive due to the presence of key manufacturers such as DuPont, Huizhou Foryou Medical Devices Co., Ltd., Kureha PGA, LLC and Teleflex, Inc
As per this study, the Global Polyglycolic Acid (PGA) Market was valued USD 240.9 MN (by revenue) in 2017 and is anticipated to reach USD 469.5 MN by 2024 with a CAGR of 9.9%. By volume, the market was estimated at XX.X KT in 2017 and is expected to reach XX.X Tons by 2024 with a CAGR of X.X%.
Polyglycolic Acid (PGA) often referred to as polyglycolide is composed of polymers of glycolide acids. It possesses the simplest chemical structure of aliphatic polyester. PGA is a novel biodegradable resin that exhibits high mechanical strength and high gas-barrier performance. PGA is witnessing widespread application across the industries such as shale gas extraction, packaging, medical, civil engineering, agriculture, and filters due to its excellent biodegradability property owing to its sensitivity to hydrolysis when compared to another synthetic polymer.
Polyglycolic acid is witnessing high demand from the medical industry owing to growing application in the absorbable suture and other advanced surgical tools. Rising demand of polyglycolic acid in biomedical applications such as controlled drug delivery, tissue engineering, and others is fueling the market growth. In addition, U.S., Europe, and Japan governments have accepted Polyglycolic acid as a biodegradable plastic. Growing preference of consumers for biodegradable plastic packaging is further supporting the market growth. However, High cost of polyglycolic acid is expected to restrict its usage substantially over the years to come. Also, the lack of awareness regarding the usage of polyglycolic acid within potential customers is projected to hamper its demand in the near future.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of polyglycolic acid (PGA).
The broad polyglycolic acid (PGA) market has been sub-grouped into the application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application Market Share 2017
- Shale Gas Extraction
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for polyglycolic acid (PGA) in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Polyglycolic Acid (PGA) Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the polyglycolic acid (PGA) market includes DuPont, Huizhou Foryou Medical Devices Co., Ltd., Kureha PGA, LLC, and Teleflex, Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Polyglycolic Acid (PGA)
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Polyglycolic Acid (PGA) Market: Snapshot
4. POLYGLYCOLIC ACID (PGA) MARKET ANALYSIS BY APPLICATION
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. POLYGLYCOLIC ACID (PGA) MARKET ANALYSIS BY GEOGRAPHY
- Market In Medical
- Market In Packaging
- Market In Shale Gas Extraction
- Market In Others
6. COMPETITIVE LANDSCAPE OF THE POLYGLYCOLIC ACID (PGA) COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Canada Market Estimates By Segments
- Mexico Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
7. COMPANY PROFILES OF THE POLYGLYCOLIC ACID (PGA) INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- Huizhou Foryou Medical Devices Co., Ltd.
- Kureha PGA, LLC
- Teleflex, Inc.
Table 1. Market Highlights Of Polyglycolic Acid (PGA)
Table 2. Global Polyglycolic Acid (PGA) Market By Application
Table 3. Global Polyglycolic Acid (PGA) Market By Geography
Table 4. North America Polyglycolic Acid (PGA) Market
Table 5. Europe Polyglycolic Acid (PGA) Market
Table 6. Asia Pacific Polyglycolic Acid (PGA) Market
Table 7. Latin America Polyglycolic Acid (PGA) Market
Table 8. Middle East And Africa Polyglycolic Acid (PGA) Market
Table 9. Partnership/Collaboration/Agreements
Table 10. Mergers And Acquisitions
Table 11. New Product Development
Table 12. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Polyglycolic Acid (PGA) Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Polyglycolic Acid (PGA)
Fig. 5. Value Chain Analysis
Fig. 6. Porter’s Five Forces Analysis
Fig. 7. Global Polyglycolic Acid (PGA) Market By Application
Fig. 8. Global Polyglycolic Acid (PGA) Market By Geography
Fig. 9. North America Polyglycolic Acid (PGA) Market
Fig. 10. Europe Polyglycolic Acid (PGA) Market
Fig. 11. Asia Pacific Polyglycolic Acid (PGA) Market
Fig. 12. Latin America Polyglycolic Acid (PGA) Market
Fig. 13. Middle East And Africa Polyglycolic Acid (PGA) Market
Fig. 14. Market Share Of Polyglycolic Acid (PGA) Companies
Fig. 15. Recent Developments In Polyglycolic Acid (PGA) Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.