The Global Polyglycolic Acid Market size is expected to reach $11.2 billion by 2031, rising at a market growth of 9.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 48,786.5 tonnes, experiencing a growth of 18.9% (2020-2023).
The expanding medical sector worldwide presents significant opportunities for the growth and expansion of polyglycolic acid applications. As per the data provided in 2023 by the Government of Canada, to enhance health care services for Canadians, the government announced an investment of $196.1 billion over ten years, including $46.2 billion in new funding, for provinces and territories. Polyglycolic acid (PGA) is widely used in manufacturing absorbable sutures used in surgical procedures to stitch wounds or incisions. Consequently, the medical segment would utilize 38,334.1 tonnes of Polyglycolic Acid by 2031. Unlike traditional sutures made from non-absorbable materials like nylon or silk, PGA sutures are designed to degrade over time within the body, eliminating the need for suture removal and reducing the risk of complications.
The escalating environmental concerns and tightening regulations regarding plastic pollution have become pivotal drivers pushing industries towards adopting eco-friendly packaging materials like polyglycolic acid (PGA). As global awareness of environmental issues continues to rise, businesses are increasingly pressured to mitigate their environmental footprint, particularly in the packaging sector, which historically has been a significant contributor to plastic waste. Additionally, Biotechnology offers scalable production platforms that can be easily adapted to meet growing market demands for PGA. By leveraging bioreactor systems with higher capacities and implementing robust downstream processing techniques, manufacturers can scale up PGA production while maintaining cost efficiency and product quality. Thus, these factors will drive the expansion of the market.
However, the competition from alternative biodegradable polymers like polylactic acid (PLA) and polyhydroxyalkanoates (PHA) presents a significant challenge to the market. PLA and PHA, like PGA, offer environmental benefits such as biodegradability and renewable sourcing. However, if end users perceive PLA or PHA as more environmentally friendly or sustainable due to marketing efforts or misconceptions, they may preferentially choose these alternatives over PGA despite PGA's comparable environmental credentials. Therefore, these factors can cause a downturn in the market.
Form Outlook
Based on form, the market is segmented into fibers, films, and others. In 2023, the films segment garnered a significant 34.2% revenue share in the market. In terms of volume, the films segment would utilize 33,458.4 tonnes of by 2031. PGA films offer a biodegradable alternative to conventional petroleum-based plastics, allowing end-users to reduce their carbon footprint and mitigate environmental impact. Thus, the segment will expand rapidly in the upcoming years.
End User Outlook
On the basis of end-user, the market is divided into medical, oil & gas, packaging, and others. The medical segment recorded the maximum 42% revenue share in the market in 2023. In terms of volume, the medical segment would utilize 38,334.1 tonnes of Polyglycolic Acid by 2031. One of the primary applications of PGA in the medical sector is producing absorbable sutures. PGA sutures gradually degrade in the body over time, eliminating the need for suture removal surgeries and reducing patient discomfort. Therefore, these factors can boost the demand in the segment.
Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a 46% revenue share in the market in 2023. In terms of volume, the North America region would utilize 42,308.4 tonnes of Polyglycolic Acid by 2031. Over the years, significant investments have been made in research and development to enhance PGA production processes, improve material properties, and explore new applications.
List of Key Companies Profiled
- BMG Incorporated
- Huizhou Foryou Medical Devices Co., Ltd. (GL Capital Group)
- Unisur Lifecare Pvt Ltd
- Orion Sutures India Pvt Ltd
- Kureha Corporation
- Shenzhen Polymtek Biomaterial Co., Ltd
- Haihang Industry Co., Ltd. (Haihang Group)
- Polysciences, Inc.
- Teleflex Incorporated
- Merck KGaA
Global Polyglycolic Acid Market Report Segmentation
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End User (Volume, Tonnes, USD Billion, 2020-2031)
- Medical
- Oil & Gas
- Packaging
- Others
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Polyglycolic Acid Market, by Form
- 1.4.2Global Polyglycolic Acid Market, by End User
- 1.4.3Global Polyglycolic Acid Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Global Polyglycolic Acid Market by Form
- 4.1Global Fibers Market by Region
- 4.2Global Films Market by Region
- 4.3Global Others Market by Region
Chapter 5.Global Polyglycolic Acid Market by End-user
- 5.1Global Medical Market by Region
- 5.2Global Oil & Gas Market by Region
- 5.3Global Packaging Market by Region
- 5.4Global Others Market by Region
Chapter 6.Global Polyglycolic Acid Market by Region
- 6.1North America Polyglycolic Acid Market
- 6.1.1North America Polyglycolic Acid Market by Form
- 6.1.1.1North America Fibers Market by Country
- 6.1.1.2North America Films Market by Country
- 6.1.1.3North America Others Market by Country
- 6.1.2North America Polyglycolic Acid Market by End-user
- 6.1.2.1North America Medical Market by Country
- 6.1.2.2North America Oil & Gas Market by Country
- 6.1.2.3North America Packaging Market by Country
- 6.1.2.4North America Others Market by Country
- 6.1.3North America Polyglycolic Acid Market by Country
- 6.1.3.1US Polyglycolic Acid Market
- 6.1.3.1.1US Polyglycolic Acid Market by Form
- 6.1.3.1.2US Polyglycolic Acid Market by End-user
- 6.1.3.2Canada Polyglycolic Acid Market
- 6.1.3.2.1Canada Polyglycolic Acid Market by Form
- 6.1.3.2.2Canada Polyglycolic Acid Market by End-user
- 6.1.3.3Mexico Polyglycolic Acid Market
- 6.1.3.3.1Mexico Polyglycolic Acid Market by Form
- 6.1.3.3.2Mexico Polyglycolic Acid Market by End-user
- 6.1.3.4Rest of North America Polyglycolic Acid Market
- 6.1.3.4.1Rest of North America Polyglycolic Acid Market by Form
- 6.1.3.4.2Rest of North America Polyglycolic Acid Market by End-user
- 6.2Europe Polyglycolic Acid Market
- 6.2.1Europe Polyglycolic Acid Market by Form
- 6.2.1.1Europe Fibers Market by Country
- 6.2.1.2Europe Films Market by Country
- 6.2.1.3Europe Others Market by Country
- 6.2.2Europe Polyglycolic Acid Market by End-user
- 6.2.2.1Europe Medical Market by Country
- 6.2.2.2Europe Oil & Gas Market by Country
- 6.2.2.3Europe Packaging Market by Country
- 6.2.2.4Europe Others Market by Country
- 6.2.3Europe Polyglycolic Acid Market by Country
- 6.2.3.1Germany Polyglycolic Acid Market
- 6.2.3.1.1Germany Polyglycolic Acid Market by Form
- 6.2.3.1.2Germany Polyglycolic Acid Market by End-user
- 6.2.3.2UK Polyglycolic Acid Market
- 6.2.3.2.1UK Polyglycolic Acid Market by Form
- 6.2.3.2.2UK Polyglycolic Acid Market by End-user
- 6.2.3.3France Polyglycolic Acid Market
- 6.2.3.3.1France Polyglycolic Acid Market by Form
- 6.2.3.3.2France Polyglycolic Acid Market by End-user
- 6.2.3.4Russia Polyglycolic Acid Market
- 6.2.3.4.1Russia Polyglycolic Acid Market by Form
- 6.2.3.4.2Russia Polyglycolic Acid Market by End-user
- 6.2.3.5Spain Polyglycolic Acid Market
- 6.2.3.5.1Spain Polyglycolic Acid Market by Form
- 6.2.3.5.2Spain Polyglycolic Acid Market by End-user
- 6.2.3.6Italy Polyglycolic Acid Market
- 6.2.3.6.1Italy Polyglycolic Acid Market by Form
- 6.2.3.6.2Italy Polyglycolic Acid Market by End-user
- 6.2.3.7Rest of Europe Polyglycolic Acid Market
- 6.2.3.7.1Rest of Europe Polyglycolic Acid Market by Form
- 6.2.3.7.2Rest of Europe Polyglycolic Acid Market by End-user
- 6.3Asia Pacific Polyglycolic Acid Market
- 6.3.1Asia Pacific Polyglycolic Acid Market by Form
- 6.3.1.1Asia Pacific Fibers Market by Country
- 6.3.1.2Asia Pacific Films Market by Country
- 6.3.1.3Asia Pacific Others Market by Country
- 6.3.2Asia Pacific Polyglycolic Acid Market by End-user
- 6.3.2.1Asia Pacific Medical Market by Country
- 6.3.2.2Asia Pacific Oil & Gas Market by Country
- 6.3.2.3Asia Pacific Packaging Market by Country
- 6.3.2.4Asia Pacific Others Market by Country
- 6.3.3Asia Pacific Polyglycolic Acid Market by Country
- 6.3.3.1China Polyglycolic Acid Market
- 6.3.3.1.1China Polyglycolic Acid Market by Form
- 6.3.3.1.2China Polyglycolic Acid Market by End-user
- 6.3.3.2Japan Polyglycolic Acid Market
- 6.3.3.2.1Japan Polyglycolic Acid Market by Form
- 6.3.3.2.2Japan Polyglycolic Acid Market by End-user
- 6.3.3.3India Polyglycolic Acid Market
- 6.3.3.3.1India Polyglycolic Acid Market by Form
- 6.3.3.3.2India Polyglycolic Acid Market by End-user
- 6.3.3.4South Korea Polyglycolic Acid Market
- 6.3.3.4.1South Korea Polyglycolic Acid Market by Form
- 6.3.3.4.2South Korea Polyglycolic Acid Market by End-user
- 6.3.3.5Singapore Polyglycolic Acid Market
- 6.3.3.5.1Singapore Polyglycolic Acid Market by Form
- 6.3.3.5.2Singapore Polyglycolic Acid Market by End-user
- 6.3.3.6Malaysia Polyglycolic Acid Market
- 6.3.3.6.1Malaysia Polyglycolic Acid Market by Form
- 6.3.3.6.2Malaysia Polyglycolic Acid Market by End-user
- 6.3.3.7Rest of Asia Pacific Polyglycolic Acid Market
- 6.3.3.7.1Rest of Asia Pacific Polyglycolic Acid Market by Form
- 6.3.3.7.2Rest of Asia Pacific Polyglycolic Acid Market by End-user
- 6.4LAMEA Polyglycolic Acid Market
- 6.4.1LAMEA Polyglycolic Acid Market by Form
- 6.4.1.1LAMEA Fibers Market by Country
- 6.4.1.2LAMEA Films Market by Country
- 6.4.1.3LAMEA Others Market by Country
- 6.4.2LAMEA Polyglycolic Acid Market by End-user
- 6.4.2.1LAMEA Medical Market by Country
- 6.4.2.2LAMEA Oil & Gas Market by Country
- 6.4.2.3LAMEA Packaging Market by Country
- 6.4.2.4LAMEA Others Market by Country
- 6.4.3LAMEA Polyglycolic Acid Market by Country
- 6.4.3.1Brazil Polyglycolic Acid Market
- 6.4.3.1.1Brazil Polyglycolic Acid Market by Form
- 6.4.3.1.2Brazil Polyglycolic Acid Market by End-user
- 6.4.3.2Argentina Polyglycolic Acid Market
- 6.4.3.2.1Argentina Polyglycolic Acid Market by Form
- 6.4.3.2.2Argentina Polyglycolic Acid Market by End-user
- 6.4.3.3UAE Polyglycolic Acid Market
- 6.4.3.3.1UAE Polyglycolic Acid Market by Form
- 6.4.3.3.2UAE Polyglycolic Acid Market by End-user
- 6.4.3.4Saudi Arabia Polyglycolic Acid Market
- 6.4.3.4.1Saudi Arabia Polyglycolic Acid Market by Form
- 6.4.3.4.2Saudi Arabia Polyglycolic Acid Market by End-user
- 6.4.3.5South Africa Polyglycolic Acid Market
- 6.4.3.5.1South Africa Polyglycolic Acid Market by Form
- 6.4.3.5.2South Africa Polyglycolic Acid Market by End-user
- 6.4.3.6Nigeria Polyglycolic Acid Market
- 6.4.3.6.1Nigeria Polyglycolic Acid Market by Form
- 6.4.3.6.2Nigeria Polyglycolic Acid Market by End-user
- 6.4.3.7Rest of LAMEA Polyglycolic Acid Market
- 6.4.3.7.1Rest of LAMEA Polyglycolic Acid Market by Form
- 6.4.3.7.2Rest of LAMEA Polyglycolic Acid Market by End-user
Chapter 7.Company Profiles
- 7.1BMG Incorporated
- 7.2Huizhou Foryou Medical Devices Co., Ltd. (GL Capital Group)
- 7.3Unisur Lifecare Pvt Ltd
- 7.4Orion Sutures India Pvt Ltd
- 7.5Kureha Corporation
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental Analysis
- 7.5.4SWOT Analysis
- 7.6Shenzhen Polymtek Biomaterial Co., Ltd.
- 7.7Haihang Industry Co., Ltd. (Haihang Group)
- 7.8Polysciences, Inc.
- 7.9Teleflex Incorporated
- 7.9.1Company Overview
- 7.9.2Financial Analysis
- 7.9.3Segmental and Regional Analysis
- 7.9.4Research & Development Expenses
- 7.9.5SWOT Analysis
- 7.10.Merck KGaA
- 7.10.1Company Overview
- 7.10.2Financial Analysis
- 7.10.3Segmental and Regional Analysis
- 7.10.4Research & Development Expense
- 7.10.5SWOT Analysis
Chapter 8.Winning Imperatives for Polyglycolic Acid Market