
Asia Pacific Polyglycolic Acid Market Research Report: Forecast (2024-2030)
Asia Pacific Polyglycolic Acid Market - By Form (Composites, Film, Fiber, Others), By End User (Medical, Oil & Gas, Packaging) and others... Read more
- Chemicals
- Aug 2024
- 150
- PDF, Excel, PPT
Market Definition
Polyglycolic acid (PGA) is a synthetic biodegradable polymer that comprises glycolic acid monomers that are connected through ester bonds. It is manufactured by polycondensation of glycolic acid and also through ring-opening polymerization.
Market Insights & Analysis: Asia Pacific Polyglycolic Acid Market (2024-30):
The Asia Pacific Polyglycolic Acid Market is estimated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024-30. The surge in demand for implantable medical devices, adsorbable sutures, biodegradable packaging material for food & beverage, etc. are the key factors which is driving the market of Polyglycolic Acid across the globe.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2019-22 |
Base Year: 2023 | |
Forecast Period: 2024-30 | |
CAGR (2024-2030) | 11.2% |
Countries Covered | China, Japan, India, South Korea, Australia, Singapore, Vietnam, The Philippines, Rest of Asia-Pacific |
Key Companies Profiled | BMG Incorporated, Kureha Corporation, Merck KGaA, Polysciences Inc., Huizhou Foryou Medical Devices Co., Ltd., Haihang Industry, Teleflex Incorporated, Hefei TNJ Chemical Industry Co.,Ltd., Polylactide, Inc., Vizag Chemicals, Others |
Unit Denominations | USD Million/Billion |
The growing number of surgical procedures such as appendectomy, coronary artery bypass, etc., across the globe have generated demand for absorbable sutures which has further created a requirement for polyglycolic acid. Moreover, the growing aging population coupled with the rising inclination of both males and females towards plastic surgery has led to a surge in demand for polyglycolic acid as these are utilized in dermal fillers which are further injected into the skin to reduce wrinkles, scars, etc. Hence, the growing number of plastic surgery procedures across the globe is projected to boost the demand for polyglycolic acid in the years to come.
- The American Society of Plastic Surgeons highlighted that in 2019 the number of cosmetic surgical procedures for the face was around 294,004 which raised to around 346,384 in 2022.
Today’s consumers are much more environmentally sensitive, especially those in the Asia Pacific region, and are so keen on products that are in environmentally friendly packages. The change in customers’ trends in purchasing products is a strong driving force that is forcing organizations to use organic materials such as PGA to satisfy market needs. The growing e-commerce sector in the Asia Pacific region has paved the way for ample growth for efficient and good packaging. This makes PGA more suitable for packaging, in particular for meat and dairy products that are often bought through e-shops, and is a major concern when it comes to minimizing the volume of packaging waste.

Asia Pacific Polyglycolic Acid Market Driver:
Rising Demand for Packaged Food to Propel Growth of Sustainable Packaging–The growing working population, has led to increasingly busy schedules. As a result, there is a rising demand for convenient food options such as packaged foods and ready-to-eat meals. Furthermore, governments across the countries have introduced various initiatives to encourage sustainable packaging practices. This results in the food & beverage companies increasingly adopting sustainable packaging methods to reduce the harm caused by packaging materials to the shelf life of food. Hence, this sustainable packaging includes the incorporation of polyglycolic acid material which is expected to impact their market growth in the forthcoming period.
- In 2024, the National Mission on Sustainable Packaging Solution's introduction was announced by the Council of Scientific and Industrial Research (CSIR). The mission aims to develop solutions for sustainable packaging.
Asia Pacific Polyglycolic Acid Market Opportunity:
Growing Oil & Gas Exploration Activities to Boost Demand for PGA–As an important source of oil and gas investment, the Asia Pacific region is gradually developing into the global spotlight for the next generation of natural gas opportunities. Industrialization and urbanization in the Asian countries especially, China and India have put a lot of pressure on energy consumption thus accelerating the demand for rigorous exploration and production. The oil and gas industry is gradually beginning to appreciate PGA because of its unique features which include; high strength, outstanding chemical resistance, and above all, biodegradable nature. These attributes put PGA into a better standing compared to other materials with regards to its applications in downhole operations where the change in mechanical properties is required with the ability to disintegrate on command after delivering the intended function. E&P companies in the Asia Pacific region would be core to the adoption and growth of PGA applications because of increased energy demand and its commitment to efficiency.
- According to the Gas Exporting Countries Forum, it has been estimated that by 2050, global primary energy demand will grow approximately by 22% to hit almost 17,865 million tonnes of oil equivalent, out of which almost 60% would be contributed from Asia Pacific.
Asia Pacific Polyglycolic Acid Market Challenge:
Increasing Inclination Towards Substitute Products–The presence of other biodegradable polymers, such as polylactic acid, polycaprolactone, and polyhydroxyalkanoates, etc., are posing challenges to polyglycolic acid (PGA). In some cases, these materials offer equal or superior properties, hence being suitable PGA substitutes. The low production cost of some of these substitute materials to PGA makes them more economically viable for manufacturers. Cost-sensitive industries, especially in developing regions, prefer such cheaper alternatives to PGA, which inhibits market growth. Other biodegradable polymers with special properties are better suited to specific applications. PCL is preferred in those medical fields where the degradation period is longer, as PGA tends to degrade faster. The varied suitability of these alternatives provides a challenge to the growth of the APAC Polyglycolic Acid Market.
Asia Pacific Polyglycolic Acid Market (2024-30): Segmentation Analysis
The Asia Pacific Polyglycolic Acid Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-2030 at the regional level. Based on the analysis, the market has been further classified as:
Based on Form:
- Composites
- Film
- Fiber
- Others (Plate, Rod, etc.)
The fiber segment holds a significant market share in the Asia Pacific Polyglycolic Acid Market. PGA fibers are widely used in a range of various industrial branches such as medical, packing, textile, and others due to their mechanical robustness, biodegradation, and versatility. In the medical industry, PGA fibers are mostly applied in operating instruments like sutures, because of their high tensile strength, ability to be absorbed, and being biocompatible. Steady improvement in technology enhances the usage of fibers in the manufacturing of PGA fabrics hence implying increased market demand for PGA fiber and more acceptance in the market, resulting in constant innovation.
Based on End User:
- Medical
- Oil & Gas
- Packaging
- Others (Agriculture, Manufacturing, etc.)
The medical sector holds a considerable market share in the Asia Pacific Polyglycolic Acid Market. Polyglycolic Acid, is a crucial trend affecting the medical devices industry as due to the peculiarities of its nature it offers numerous opportunities. Some features related to product characteristics such as biodegradability, strength, and biocompatibility make PGA stand out and highly relevant in the context of the medical sector. In addition, PGA remains crucial in other units or categories of medical devices such as tissue engineering scaffolds and drug delivery systems. It is biodegradable, and this means that it can slowly release the medications or growth factors it is carrying while encouraging enhanced treatment and tissue development at the targeted locations. This capability is particularly important in modern healthcare where aspects of personalized medicine and less invasive surgeries form a core subject in the delivery of healthcare services. Hence, the rising number of general surgeries, the aging population, and the rising number of non-invasive surgeries are projected to surge the demand for Polyglycolic acid from the medical sector.
Asia Pacific Polyglycolic Acid Market (2024-30): Regional Projection
Geographically, the Asia Pacific Polyglycolic Acid Market expands across:
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Vietnam
- The Philippines
- Rest of Asia Pacific
China holds a significant market share in the Polyglycolic Acid (PGA) market of Asia Pacific. Sustainability is becoming an increasingly persistent global concern, with food and beverage manufacturers trying to boost their sustainability credentials through revamped packaging designs. The country is home to various food brands providing convenience food to consumers. Hence, as the country is inclined towards the usage of environment-friendly packaging solutions, the production of these food items is expected to positively impact the growth of the Polyglycolic Acid (PGA) market in China. Hence, companies such as Mengniu are partnering with chemical companies to introduce sustainable packaging solutions in the country. Furthermore, the local companies in the country are introducing new strategies to expand their presence among international tourists. Hence, these steps are anticipated to boost the manufacturing of packaged food items as well thereby expected to create demand for PGA in China.
Gain a Competitive Edge with Our Asia Pacific Polyglycolic Acid Market Report
- Asia Pacific Polyglycolic Acid Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
- This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
- Asia Pacific Polyglycolic Acid Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.
Frequently Asked Questions
- Market Segmentation
- Introduction
- Market Definition
- Research Process
- Assumptions
- Executive Summary
- Asia-Pacific Polyglycolic Acid Market Trends & Developments
- Asia-Pacific Polyglycolic Acid Market Dynamics
- Growth Drivers
- Challenges
- Asia-Pacific Polyglycolic Acid Market Hotspots & Opportunities
- Asia-Pacific Polyglycolic Acid Market Policies & Regulations
- Asia-Pacific Polyglycolic Acid Market Supply Chain Analysis
- Asia-Pacific Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form
- Composites- Market Size & Forecast 2019-2030F, Thousand Tons
- Film- Market Size & Forecast 2019-2030F, Thousand Tons
- Fiber- Market Size & Forecast 2019-2030F, Thousand Tons
- Others (Plate, Rod, etc.)- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User
- Medical- Market Size & Forecast 2019-2030F, Thousand Tons
- Oil & Gas- Market Size & Forecast 2019-2030F, Thousand Tons
- Packaging- Market Size & Forecast 2019-2030F, Thousand Tons
- Others (Agriculture, Manufacturing, etc.)- Market Size & Forecast 2019-2030F, Thousand Tons
- By Country
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Vietnam
- The Philippines
- Rest of Asia-Pacific
- By Company
- Market Share of Top Companies
- Competition Characteristics
- By Form
- Market Size & Analysis
- China Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- Japan Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- India Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- South Korea Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- Australia Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- Singapore Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- Vietnam Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- The Philippines Polyglycolic Acid Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Quantity Sold (Thousand Tons)
- Market Share & Analysis
- By Form- Market Size & Forecast 2019-2030F, Thousand Tons
- By End User- Market Size & Forecast 2019-2030F, Thousand Tons
- Market Size & Analysis
- Asia-Pacific Polyglycolic Acid Market Key Strategic Imperatives for Success & Growth
- Competition Outlook
- Company Profiles
- BMG Incorporated
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Kureha Corporation
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Merck KGaA
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Polysciences Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Huizhou Foryou Medical Devices Co., Ltd.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Haihang Industry
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Teleflex Incorporated
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Hefei TNJ Chemical Industry Co., Ltd.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Polylactide, Inc.
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Vizag Chemicals
- Business Description
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Others
- BMG Incorporated
- Company Profiles
- Disclaimer
