Asia Pacific Polyglycolic Acid Market Overview:

According to MarkNtel Advisors study 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.

Key Findings of the Study: Asia Pacific Polyglycolic Acid market

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.

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Scope of the Asia Pacific Polyglycolic Acid Market Report Segmentation

-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

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Geographical analysis:

-By Country

  • 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.

Current Landscape of Asia Pacific Polyglycolic Acid Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Asia Pacific Polyglycolic Acid market. The research report profiles major players, including

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  • 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

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