Polyglycolic Acid Market 2019 Trends, Industry Analysis, Outlook and Global Forecasts 2023

Market Segmentation:

The Global Polyglycolic Acid Market has been segmented on the basis of the Application and Region.

On the basis of the Application, this market is divided into bio-medical, packaging, shale gas extraction and others. Bio-medical emerged as the leading application segment due to increasing usage in manufacturing of implantable medical devices. These devices eliminate the need for second surgery and the risks related to it. The application of Polyglycolic Acid is increasing at a staggering rate in the controlled drug delivery and tissue engineering owing to biocompatibility.

Increasing use of Polyglycolic Acid in perishable food packaging to increase the shelf life for maintaining the freshness of the product is likely to drive the growth of this market. Polyglycolic Acid had been used vastly in multilayered PET bottles to improve the production efficiency. For instance, Solvay Speciality Polymer and Husky Injection Moulding Systems together introduced a recyclable Verian High Barrier Polyester (HBP) to be used in PET bottles packaging.

Polyglycolic Acid on account of high gas barrier properties has been progressively used in shale gas extraction. The use of Polyglycolic Acid is vastly spread in the U.S. due to the supply of ultra-strong and biodegradable materials.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/5749

Competitive Analysis:

Some of the prominent players in the Global Polyglycolic Acid Market are BASF SE (Germany), SK Chemicals (South Korea), Toray Industries, Inc (Japan), Shenzhen Polymtek Biomaterial Co., Ltd (China); Teleflex Incorporated (U.S.), Huizhou Foryou Medical Devices Co., Ltd (China), DemeTech Sutures (U.S.), DowDuPont (U.S.), Corbion (Netherlands), and Kureha Corporation (U.S.).

Regional Analysis:

The Global Polyglycolic Acid Market is geographically divided into five regions, which include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominates the global market owing to surging demand of Polyglycolic Acid in the oil and gas extraction industry. Europe is the second most substantial region in the global market owing to the rising demand for the in the packaging industry. For instance, a recent European project named as RefuCoat had been started by EU for the development of recyclable barrier coatings and bio-plastic material for films and trays. Asia Pacific is expected to witness a significant growth in the demand due to the growth of packaging industry coupled with rising awareness among consumers related to food hygiene. Other regions are expected to show a moderate growth over the next few years.

Market Overview:

Polyglycolic Acid is a thermoplastic polymer, widely used for the production of absorbable sutures owing to superior characteristics such as high tensile strength, tissue reactivity, and hydrolytic stability. Two manufacturing processes namely polycondensation and ring-opening polymerization of glycolide are used for producing low and high weight molecular products respectively.

The rise in the usage of Polyglycolic Acid in the healthcare industry owing to biodegradability is expected to fuel the demand over the next seven years. Surging demand for Polyglycolic Acid in various medical applications such as dental, orthopedic and drug delivery is expected to drive the market growth. Polyglycolic Acid is widely in the packaging industry. Increasing demand for packaged food owing to rising disposable income and changing lifestyle of the people, specifically in developing economies of the Asia Pacific and Latin America is anticipated to augment market growth. The boost in the demand for shale gas is likely to propel the demand for PGA further on account of its use in the shale gas extraction.

Examine Full Research Study with Complete TOC Click on Below Link @ https://www.marketresearchfuture.com/reports/polyglycolic-acid-market-5749    

     

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Polyglycolic Acid Market 2018 Overview, Outlook, Segmentation, Applications, Forecast, Analysis 2023

Overview:

The Global Polyglycolic Acid Market is getting traction from a vast range of sectors owing to its biodegradable properties which have made it the choicest option in the surgical suture material. Its high tensile strength, hydrolytic stability, and knotting ability have spurred its use in the healthcare sector. The Global Polyglycolic Acid Market can expect robust growth during the forecast period (2017-2023) reveals Market Research Future (MRFR) in a detailed analysis that encompasses sectors such as segments and drivers. This component has been revolutionizing healthcare sector for quite some time now. From drug formulation and treatments to manufacturing of implantable devices; it is now common in various applications such as orthopedics, pacemakers, cardiovascular stents, defibrillators, and others. Furthermore, in cosmetic surgery, food packaging, and recyclable formation of pet bottles, and as a barrier during shale gas extraction, Polyglycolic Acid is one of a kind. Hence, the Polyglycolic Acid is experiencing so much boost.

However, the price has been a talking point always. Dwindling cost of raw materials has kept the end-product price fluctuating which can be a great market detractor. But, its market proliferation across sectors can steer the industry away from any long-time impact.

Industry Trend:

Solvay Specially polymer of the U.S. has recently come up with new barrier polyester which is known as Verian HBP. This product can act as an inner layer in multi-layered PET bottles and provide sufficient protection during shale gas extraction.

AIMPLAS, the Plastics Technology Institute, while coordinating the REFUCOAT project has come up with a new solution where Polyglycolic Acid with silica oxide creates a barrier between oxygen and water. The end product is better than the commercially available packaging solution.

Receive a Sample Report for more Detailed Information @ https://www.marketresearchfuture.com/sample_request/5749

Segmentation:

The Global Polyglycolic Acid Market can be segmented based on Application.

By the Application, this Polyglycolic Acid Market is segmented into bio-medical, packaging, and shale gas extraction.

Regional Analysis:

Region-specific analysis of the Polyglycolic Acid Market reveals Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East and Africa (MEA).

The APAC is expected to drive the demand for Polyglycolic Acid as its growth in biomedical application and packaging industry is generating significant demand for the Polyglycolic Market. In developing economies such as India, China, Thailand, Taiwan, and Indonesia, Polyglycolic Acid's use has picked up speed. Rising disposable income and revamped healthcare sector are helping the healthcare sector grow in this region. For instance, India’s healthcare industry is anticipated to reach USD 275 billion valuation during the forecast period, reveals reports published by the India Brand Equity Foundation. Surging disposable income and shifting trend towards packaged and eco-friendly products are have ushered in innovative and convenient packaging for food, beverages, and personal care products which can ensure the market's future growth.

Extraction of oil and shale gas in the North American region has gained prominence in the region which requires ample supply of Polyglycolic Acid. And the demand is soaring further up with the need for innovative packaging.

Growing eco-awareness is now driving the European market forward. Hence, demand for packaging innovation can be witnessed in the region, and it's further going to cement Polyglycolic Acid Market in the region. Spain's Refucoat project, with an aim to develop fully-recyclable food packaging and to improve the preservation of food, is one such step. Healthcare sector is also giving the Polyglycolic Acid Market much-needed boost.

Market Insight:

New product developments, merger, acquisition, collaboration, and other methods play significantly in strategic moves of reputed companies. In the process, they take the market ahead. For instance, Kurudex, manufactured by Kureha PGA LLC for food packaging, is garnering accolades from diverse regions owing to its quality of synthesis. On the other hand, Toray Industries, Inc is planning to acquire TenCate Advanced Composites which can increase their market proliferation substantially.

Some of the key players in the Global Polyglycolic Acid Market are Toray Industries, Inc (Japan), BASF SE (Germany), SK Chemicals (South Korea), Shenzhen Polymtek Biomaterial Co., Ltd (China), Teleflex Incorporated (U.S.), Huizhou Foryou Medical Devices Co., Ltd (China), DemeTech Sutures (U.S.); DowDuPont (U.S.), Corbion (Netherlands), Kureha Corporation (U.S.), Focus Technology Co., Ltd (China), Foosin Medical Supplies Inc Ltd (China), and others.

Examine Full Research Study with Complete TOC Click on Below Link- https://www.marketresearchfuture.com/reports/polyglycolic-acid-market-5749