Polyglycolic Acid will Constitute US$424.5 mn Opportunity Globally by 2023.

Transparency Market Research has published a new report titled “Polyglycolic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global polyglycolic acid market was valued at US$181.7 mn in 2014 and is likely to reach US$424.5 mn in 2023, expanding at a CAGR of 10.1% between 2015 and 2023.

Polyglycolic acid, commonly abbreviated as PGA, is known for its easily biodegradable nature accompanied by high tensile strength and gas barrier properties. It is widely used to manufacture absorbable sutures for medical and surgical applications. However, of late, new applications such as packaging and shale gas extraction have evolved. PGA is suitable for packaging applications due to its excellent gas barrier properties. On the other hand, high strength coupled with easy biodegradability drives the demand for PGA in the shale gas extraction application. Currently, these applications are in the nascent stage, i.e. in the beginning of the product lifecycle.

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In terms of application, the polyglycolic acid market can be segmented into medical applications, packaging, shale gas extraction, and others. Other applications include filters, agriculture, and civil engineering resins. Packaging and shale gas extraction account for a major share of the global polyglycolic acid market. Shale gas extraction accounted for over 35% of the global demand share for polyglycolic acid in 2014. However, medical applications was the leading application segment of polyglycolic acid in Asia Pacific, Latin America, and Middle East & Africa.

In terms of demand, North America held the largest share of the global polyglycolic acid market in 2014 primarily owing to high consumption of PGA in the U.S. The region accounted for more than 70% of the global polyglycolic acid demand share in 2014. Kureha Corporation produces polyglycolic acid at its plant in Belle, West Virginia. It is the only commercial producer of polyglycolic acid used in packaging and shale gas extraction applications in the world. The polyglycolic acid market is consolidated; Kureha PGA, LLC accounts for the major share of the market. Other manufacturers of polyglycolic acid include Huizhou Foryou Medical Devices Co. Ltd. and DuPont.

The report provides in-depth analysis of the polyglycolic acid market in terms of volume (tons and kilo grams) and revenue (US$ Mn and US$ thousand). It includes current demand analysis and forecast for each application segment at the global and regional level. Regions analyzed include North America, Europe, Asia Pacific, Latin America (LATAM), and Middle East & Africa (MEA). Each region has been further sub-segmented into major countries or areas.

Browse the full Polyglycolic Acid Market for Medical, Packaging, Shale Gas Extraction, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/polyglycolic-acid-market.html

The polyglycolic acid market has been segmented as follows:

Polyglycolic Acid Market - Application Analysis

• Medical
• Packaging
• Shale Gas Extraction
• Others (Including Agriculture, Civil Engineering Resins, and Filters)

Polyglycolic Acid Market - Regional Analysis

• North America
  • U.S.
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

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