Polyglycolic Acid

Polyglycolic Acid

Global Polyglycolic Acid Market to Reach US$597.0 Million by 2030

The global market for Polyglycolic Acid estimated at US$337.1 Million in the year 2023, is expected to reach US$597.0 Million by 2030, growing at a CAGR of 8.5% over the analysis period 2023-2030. Medical End-Use, one of the segments analyzed in the report, is expected to record a 8.3% CAGR and reach US$242.6 Million by the end of the analysis period. Growth in the Packaging End-Use segment is estimated at 8.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$88.3 Million While China is Forecast to Grow at 11.3% CAGR

The Polyglycolic Acid market in the U.S. is estimated at US$88.3 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$132.5 Million by the year 2030 trailing a CAGR of 11.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.7% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.

Global Polyglycolic Acid Market - Key Trends & Drivers Summarized

Why Is Polyglycolic Acid Gaining Popularity in Biodegradable Applications?

Polyglycolic acid (PGA) is emerging as a significant material in the production of biodegradable products due to its high strength, excellent gas barrier properties, and rapid biodegradability. As a thermoplastic polymer, PGA is used extensively in medical applications, such as sutures and tissue engineering, where its ability to degrade safely in the body makes it a preferred material. Outside of healthcare, PGA’s biodegradability is attracting attention in industries such as packaging and oil and gas, where reducing environmental impact is a growing concern. With the rising global focus on sustainability, PGA is becoming an important player in the movement toward eco-friendly materials.

How Is Technological Innovation Expanding the Applications of Polyglycolic Acid?

Technological advancements are broadening the potential applications of polyglycolic acid. In the medical field, research into drug delivery systems and bioresorbable implants is driving the development of advanced PGA-based devices. The material’s high strength and ability to decompose naturally within the body make it ideal for temporary implants and scaffolds in tissue engineering. In packaging, PGA is being explored for its superior gas barrier properties, making it a strong candidate for replacing traditional plastics in food and beverage containers. Additionally, in the oil and gas industry, PGA is increasingly used in frac balls and plugs for drilling, where its biodegradability eliminates the need for retrieval after use, lowering operational costs.

How Are Industry Trends and Sustainability Goals Influencing the PGA Market?

The demand for polyglycolic acid is closely tied to global trends toward sustainability and reducing plastic waste. Industries are seeking alternatives to traditional petroleum-based plastics, and biodegradable polymers like PGA offer an attractive solution. Governments and corporations are increasingly setting targets for reducing plastic waste and adopting biodegradable materials in packaging and industrial applications. Moreover, the medical field’s ongoing shift toward minimally invasive and bioresorbable products is fostering greater demand for PGA in surgical sutures, implants, and other medical devices. These sustainability-focused industry trends are playing a critical role in shaping the future of the PGA market.

The Growth in the Polyglycolic Acid Market Is Driven by Several Factors

The growth in the polyglycolic acid market is driven by several factors, including the increasing demand for biodegradable materials in medical, packaging, and industrial applications. Technological advancements in the development of PGA-based products, particularly in bioresorbable medical devices and eco-friendly packaging, are expanding the material’s market reach. Industry trends toward sustainability and reducing environmental impact are driving the adoption of biodegradable polymers like PGA as alternatives to traditional plastics. Additionally, the rising focus on minimally invasive surgical procedures and bioresorbable implants in the medical field is boosting demand for PGA in healthcare applications. These factors, combined with the growing global emphasis on eco-friendly materials, are propelling the expansion of the PGA market.

Select Competitors (Total 32 Featured) -

• BMG Incorporated
• Corbion
• El Du Pont De Nemours & Co
• Huizhou Foryou Medical Devices Co. Ltd
• Kureha Corporation
• Meta Biomed
• Samyang Biopharm
• Shenzhen Polymtek Biomaterial Co., Ltd
• Teleflex Incorporated

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