Polyglycolic Acid Market Updates

Global Polyglycolic Acid Market size was valued at USD 4.96 billion in 2023 and is poised to grow from USD 5.46 billion in 2024 to USD 11.79 billion by 2032, growing at a CAGR of 10.1% during the forecast period (2025-2032). 

The global polyglycolic acid (PGA) market features a competitive landscape with several players vying for market share. The market is characterised by a mix of established companies and emerging players, each offering a range of PGA-based products and solutions. Competition in the PGA market revolves around factors such as product innovation, quality, cost-effectiveness, and sustainability. Companies strive to develop advanced manufacturing processes, improve product performance, and enhance the biodegradability and mechanical properties of PGA. Additionally, research and development efforts are focused on expanding the applications of PGA in various industries and developing new formulations to meet specific market needs. Collaborations, partnerships, and strategic alliances are also common in the PGA market. 'Kureha Corporation (Japan) ', 'Corbion NV (Netherlands) ', 'Shenzhen Polymtek Biomaterial Co., Ltd. (China) ', 'BMG Incorporated (Japan) ', 'Huizhou Foryou Medical Devices Co., Ltd. (China) ', 'Teleflex Incorporated (United States) ', 'DuPont de Nemours, Inc. (United States) ', 'Foster Group, Inc. (United States) ', 'Samyang Holdings Biopharma Group (South Korea) ', 'Ethicon Inc. (United States) ', 'Evonik Industries AG (Germany) ', 'Meta Biomed Co., Ltd. (South Korea) ', 'Shanghai Pujing Chemical Co., Ltd. (China) ', 'Orion Sutures India Pvt Ltd (India) ', 'Chemical Crunch Pvt Ltd (India) ', 'Thurs Organics Private Limited (India) ', 'Eddy Health Care (India) ', 'Shandong Haidike Medical Products Co., Ltd. (China) ', 'Unisur Lifecare Pvt. Ltd. (India) '

The increasing awareness of environmental concerns and the need for sustainable materials drive the demand for polyglycolic acid (PGA). PGA is a biodegradable polymer, making it an attractive alternative to traditional non-biodegradable materials in various industries.

Increasing Demand for Sustainable Packaging: The rising awareness of environmental concerns and the need for sustainable packaging solutions drive the demand for PGA. As a biodegradable polymer, PGA is gaining traction as a viable alternative to traditional non-biodegradable materials in the packaging industry. The trend towards eco-friendly packaging practices and regulations on plastic waste management support the growth of PGA in this sector.

North America holds the dominant position in the global PGA market due to several factors. The region has a well-established healthcare infrastructure, which drives the demand for PGA in medical applications such as absorbable sutures, tissue engineering, and drug delivery systems. Additionally, the presence of major pharmaceutical and medical device manufacturers in North America contributes to the market's dominance. Moreover, the increasing focus on sustainability and environmental consciousness in packaging applications further drives the adoption of PGA films and coatings in the region.