Polyglycolic acid is a biodegradable and thermoplastic polymer, widely used as a surgical suture material owing to tissue reactivity, high tensile strength, hydrolytic stability, and excellent knotting ability. It is obtained through two processes namely polycondensation of glycolic acid and ring-opening polymerization of glycolide.
Global Key Players and Competition Analysis
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), and Foosin Medical Supplies Inc Ltd (China).
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The global polyglycolic acid market is segmented based on application and region. By the application, this market is segmented into bio-medical, packaging, and shale gas extraction. Geographically, the market is divided into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Asia Pacific is expected to drive the demand for polyglycolic acid owing to its usage in biomedical application and packaging industry in developing economies such as India, China, Thailand, Taiwan, and Indonesia among others. The Indian healthcare industry is growing at a considerable rate due to excellent services and increasing disposable income of the consumers. Extraction of oil and shale gas in the North American region is expected to drive the product demand. Moreover, increased focused on the innovative packaging is likely to fuel the Polyglycolic Acid Market in this region. Polyglycolic acid is widely used for synthesis of Kurudex, which is manufactured by Kureha PGA LLC for food packaging is gaining huge interest from developing and under-developed economies.
Rising use of biodegradable polymers in beverages and perishable food packaging owing to insensitivity to humidity is likely to augment market growth. With the rising awareness of production efficiency as an inner layer in multi-layered PET bottles, the consumption of polyglycolic acid is set to witness prolific growth.
Browse the market data and information spread across 140 pages with 24 data tables and 9 figures of the report “Polyglycolic Acid Market Research Report – Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/polyglycolic-acid-market-5749
March 22, 2018 Published a Half-Cooked Research Report on Global Polyglycolic Acid Research Report.
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