News Contact Us

Polyglycolic Acid Market will observe a considerable demand from packaging industry through 2024, North American and European to show steady growth

Author : Ravi Chawat | Published Date : 2020-10-13 

North America polyglycolic acid market held a market share exceeding 60% in 2016. The demand for PGA frac plugs is estimated to be considerably high even though the total rig count diminished after the fall in crude oil prices in North America. Europe is also expected to share promising gains of nearly 8% CAGR up to 2024.

The overall polyglycolide market was monopolized by Kureha Corporation as its contributing market share was more than 75% in 2016. The company has emphasized innovative product development with a stronghold in the downstream market. Including Corbion NV, which is an industry leader in PGA for bone graft applications, other companies are Foryou Medical Ltd., BMG and Polymtek.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/2415

Polyglycolide has recently been officially approved as biodegradable plastic and fits to use in day to day applications by governments of the U.S., Europe, and Japan. The key market of biodegradable plastics has been packaging sector with the emphasis of leading companies, who are shifting towards compostable and degradable polymers.

As disposal of non-degradable plastics has been a serious issue for the sustainable environment especially in North America and Europe, the polyglycolic acid market will observe a considerable demand from packaging industry through 2024. 

The escalating demand especially in medical applications will drive polyglycolic acid market by 2024. On account of tremendous absorbent properties, PGA sutures have gained tractions against various absorbable sutures such as catgut, poliglecaprone, polyglactin 910, and polydioxanone sutures.

On account of better results in comparison with frequently used non-absorbable sutures made of stainless steel, nylon, and polypropylene, PGA surgical sutures have extensive application potential in medical treatments such as cardiovascular surgeries, orthopedic surgeries, ophthalmic surgeries, gynecological surgeries, and general surgeries. PGA surgical sutures also are known as a bioresorbable polymer and are suitable for joint replacement, bone grafting, spine applications, and knee applications.

In-depth table of contents @ https://www.gminsights.com/toc/detail/polyglycolic-acid-market

Massively driven by the burgeoning demand from the medical fraternity, polyglycolic acid market is anticipated to amass noteworthy gains from medical applications in the upcoming years. As a matter of fact, the medical segment held over 60 per cent of polyglycolic acid market share in 2016 and emerged as the largest segment in the year.

Polyglycolide’s high tensile strength, easy maintenance, and perilous wound healing span are likely to propel the polyglycolic acid market size in the ensuing years. 

Polyglycolic acid industry trends in the medical arena are highly characterized by the demand for PGA sutures. These sutures portray substantial potential in the orthopedic and ophthalmic surgeries.

It is prudent to mention that PGA is also an appropriate material for bone grafting and finds use in myriad bone replacement applications. This makes PGA material the widely used biodegradable bone graft polymer. For the records, the worldwide biodegradable bone graft polymer market from polyglycolic acid market is predicted to grow at a CAGR of 7.5 per cent through 2024.   

Get More News:



About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

Related News

Construction chemicals market Size, Future Scope, Demands and Projected Industry Growth to 2024

Published Date: 2020-11-27         Author: Ravi Chawat

The latest research reports say that the Global construction chemicals market size will reach US$50 billion by 2024. Explained below are a few notable factors augmenting the product demand over the next few years. The industry is highly competitive with market players primarily depending o... Read More

Biaxially oriented polypropylene market to witness increased traction from tobacco product packaging Application

Published Date: 2020-11-27         Author: Ravi Chawat

BOPP is extensively used in the packaging of cosmetic and pharmaceutical products as it helps in protecting the product from any damage and preserving the important properties. The cosmetic industry in 2015 held a considerable revenue of nearly US$210 billion and is likely to grow significantly in t... Read More

Metalworking fluids market in Asia Pacific to see robust growth from automobile and manufacturing sector

Published Date: 2020-11-27         Author: Ravi Chawat

Asia Pacific dominated the global metalworking fluids market size in 2019 on account of robust growth of the automobile and manufacturing sector. The region is expected to lead the industry up to 2025 followed by Europe. Rapid industrialization and urbanization in Middle East and Africa region along... Read More

© 2020 Fractovia. All Rights Reserved