PUBLISHER: KBV Research | PRODUCT CODE: 1484313
PUBLISHER: KBV Research | PRODUCT CODE: 1484313
Asia Pacific Polyglycolic Acid Market Size, Share & Trends Analysis Report By Form (Fibers, Films and Others), By End User (Medical, Oil & Gas, Packaging, and Others), By Country and Growth Forecast, 2024 - 2031
The Asia Pacific Polyglycolic Acid Market would witness market growth of 10.5% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 11,114.4 tonnes, showcasing a growth of 19.7% (2019-2022).
The Oil & Gas end-user industry is increasingly exploring the potential of Polyglycolic Acid (PGA) in various applications, driven by its unique properties and environmental advantages. PGA's high strength, chemical resistance, and biodegradability make it a promising material for several key areas within the industry. Thus, the China market would utilize 1,806.6 tonnes of Polyglycolic Acid in Oil & Gas end-user industry by 2031.
The China market dominated the Asia Pacific Polyglycolic Acid Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $711.9 million by 2031. The Japan market is registering a CAGR of 9.8% during (2024 - 2031). Additionally, The India market would capture a CAGR of 11.2% during (2024 - 2031).
The rising healthcare sector in this region has played a significant role in expanding the demand for polyglycolic acid (PGA) due to its diverse applications in medical devices, surgical procedures, and drug delivery systems. As per the data from the Government of Australia, In 2021-22, the nation reportedly spent $241.3 billion on health products and services, or roughly $9,365 per person on average. Inflation-adjusted real growth in total health expenditures (recurrent and capital) was 6.0% higher than in 2020-21.
Furthermore, polyglycolic acid's utility extends to agricultural applications, producing biodegradable mulch films, soil stabilization mats, and crop protection nets. These agricultural applications leverage PGA's biodegradability to reduce plastic waste in farming practices while providing effective soil erosion control and crop protection solutions. PGA-based crop protection nets safeguard crops from pests, birds, and adverse weather conditions while allowing air, light, and moisture to penetrate. These nets provide a physical barrier to protect crops without the need for chemical pesticides or harmful synthetic materials.
Australia has a growing awareness of environmental issues, particularly plastic pollution and waste management. Consumers increasingly seek eco-friendly alternatives to traditional plastic packaging, driving demand for biodegradable and compostable materials like PGA. The packaging industry in Australia is responding to this demand by exploring sustainable packaging solutions that minimize environmental impact.
As per the Government of Australia, in 2018, Australia established the ambitious 2025 National Packaging Targets. One of the targets was to achieve 100% of packaging being reusable, recyclable, or compostable by 2025. Hence, the growing packaging and agriculture sector in the Asia Pacific will pose lucrative growth prospects for the regional polyglycolic acid market.
Based on Form, the market is segmented into Fibers, Films and Others. Based on End User, the market is segmented into Medical, Oil & Gas, Packaging, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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
Asia Pacific Polyglycolic Acid Market Report Segmentation
By Form (Volume, Tonnes, USD Billion, 2020-2031)
- Fibers
- Films
- Others
By End User (Volume, Tonnes, USD Billion, 2020-2031)
- Medical
- Oil & Gas
- Packaging
- Others
By Country (Volume, Tonnes, USD Billion, 2020-2031)
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Asia Pacific Polyglycolic Acid Market, by Form
- 1.4.2Asia Pacific Polyglycolic Acid Market, by End User
- 1.4.3Asia Pacific Polyglycolic Acid Market, by Country
- 1.5Methodology for the research
Chapter 2.Market at a Glance
- 2.1Key Highlights
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.1.1Overview
- 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.Asia Pacific Polyglycolic Acid Market by Form
- 4.1Asia Pacific Fibers Market by Country
- 4.2Asia Pacific Films Market by Country
- 4.3Asia Pacific Others Market by Country
Chapter 5.Asia Pacific Polyglycolic Acid Market by End-user
- 5.1Asia Pacific Medical Market by Country
- 5.2Asia Pacific Oil & Gas Market by Country
- 5.3Asia Pacific Packaging Market by Country
- 5.4Asia Pacific Others Market by Country
Chapter 6.Asia Pacific Polyglycolic Acid Market by Country
- 6.1China Polyglycolic Acid Market
- 6.1.1China Polyglycolic Acid Market by Form
- 6.1.2China Polyglycolic Acid Market by End-user
- 6.2Japan Polyglycolic Acid Market
- 6.2.1Japan Polyglycolic Acid Market by Form
- 6.2.2Japan Polyglycolic Acid Market by End-user
- 6.3India Polyglycolic Acid Market
- 6.3.1India Polyglycolic Acid Market by Form
- 6.3.2India Polyglycolic Acid Market by End-user
- 6.4South Korea Polyglycolic Acid Market
- 6.4.1South Korea Polyglycolic Acid Market by Form
- 6.4.2South Korea Polyglycolic Acid Market by End-user
- 6.5Singapore Polyglycolic Acid Market
- 6.5.1Singapore Polyglycolic Acid Market by Form
- 6.5.2Singapore Polyglycolic Acid Market by End-user
- 6.6Malaysia Polyglycolic Acid Market
- 6.6.1Malaysia Polyglycolic Acid Market by Form
- 6.6.2Malaysia Polyglycolic Acid Market by End-user
- 6.7Rest of Asia Pacific Polyglycolic Acid Market
- 6.7.1Rest of Asia Pacific Polyglycolic Acid Market by Form
- 6.7.2Rest of Asia Pacific Polyglycolic Acid Market by End-user
Chapter 7.Company Profiles
- 7.1BMG Incorporated
- 7.1.1Company Overview
- 7.2Huizhou Foryou Medical Devices Co., Ltd. (GL Capital Group)
- 7.2.1Company Overview
- 7.3Unisur Lifecare Pvt Ltd
- 7.3.1Company Overview
- 7.4Orion Sutures India Pvt Ltd
- 7.4.1Company Overview
- 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.
- 7.6.1Company Overview
- 7.7Haihang Industry Co., Ltd. (Haihang Group)
- 7.7.1Company Overview
- 7.8Polysciences, Inc.
- 7.8.1Company Overview
- 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
LIST OF TABLES
- TABLE 1Asia Pacific Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 2Asia Pacific Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 3Asia Pacific Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 4Asia Pacific Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 5Asia Pacific Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 6Asia Pacific Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 7Asia Pacific Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 8Asia Pacific Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 9Asia Pacific Fibers Market by Country, 2020 - 2023, USD Million
- TABLE 10Asia Pacific Fibers Market by Country, 2024 - 2031, USD Million
- TABLE 11Asia Pacific Fibers Market by Country, 2020 - 2023, Tonnes
- TABLE 12Asia Pacific Fibers Market by Country, 2024 - 2031, Tonnes
- TABLE 13Asia Pacific Films Market by Country, 2020 - 2023, USD Million
- TABLE 14Asia Pacific Films Market by Country, 2024 - 2031, USD Million
- TABLE 15Asia Pacific Films Market by Country, 2020 - 2023, Tonnes
- TABLE 16Asia Pacific Films Market by Country, 2024 - 2031, Tonnes
- TABLE 17Asia Pacific Others Market by Country, 2020 - 2023, USD Million
- TABLE 18Asia Pacific Others Market by Country, 2024 - 2031, USD Million
- TABLE 19Asia Pacific Others Market by Country, 2020 - 2023, Tonnes
- TABLE 20Asia Pacific Others Market by Country, 2024 - 2031, Tonnes
- TABLE 21Asia Pacific Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 22Asia Pacific Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 23Asia Pacific Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 24Asia Pacific Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 25Asia Pacific Medical Market by Country, 2020 - 2023, USD Million
- TABLE 26Asia Pacific Medical Market by Country, 2024 - 2031, USD Million
- TABLE 27Asia Pacific Medical Market by Country, 2020 - 2023, Tonnes
- TABLE 28Asia Pacific Medical Market by Country, 2024 - 2031, Tonnes
- TABLE 29Asia Pacific Oil & Gas Market by Country, 2020 - 2023, USD Million
- TABLE 30Asia Pacific Oil & Gas Market by Country, 2024 - 2031, USD Million
- TABLE 31Asia Pacific Oil & Gas Market by Country, 2020 - 2023, Tonnes
- TABLE 32Asia Pacific Oil & Gas Market by Country, 2024 - 2031, Tonnes
- TABLE 33Asia Pacific Packaging Market by Country, 2020 - 2023, USD Million
- TABLE 34Asia Pacific Packaging Market by Country, 2024 - 2031, USD Million
- TABLE 35Asia Pacific Packaging Market by Country, 2020 - 2023, Tonnes
- TABLE 36Asia Pacific Packaging Market by Country, 2024 - 2031, Tonnes
- TABLE 37Asia Pacific Others Market by Country, 2020 - 2023, USD Million
- TABLE 38Asia Pacific Others Market by Country, 2024 - 2031, USD Million
- TABLE 39Asia Pacific Others Market by Country, 2020 - 2023, Tonnes
- TABLE 40Asia Pacific Others Market by Country, 2024 - 2031, Tonnes
- TABLE 41Asia Pacific Polyglycolic Acid Market by Country, 2020 - 2023, USD Million
- TABLE 42Asia Pacific Polyglycolic Acid Market by Country, 2024 - 2031, USD Million
- TABLE 43Asia Pacific Polyglycolic Acid Market by Country, 2020 - 2023, Tonnes
- TABLE 44Asia Pacific Polyglycolic Acid Market by Country, 2024 - 2031, Tonnes
- TABLE 45China Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 46China Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 47China Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 48China Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 49China Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 50China Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 51China Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 52China Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 53China Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 54China Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 55China Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 56China Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 57Japan Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 58Japan Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 59Japan Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 60Japan Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 61Japan Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 62Japan Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 63Japan Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 64Japan Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 65Japan Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 66Japan Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 67Japan Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 68Japan Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 69India Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 70India Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 71India Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 72India Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 73India Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 74India Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 75India Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 76India Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 77India Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 78India Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 79India Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 80India Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 81South Korea Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 82South Korea Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 83South Korea Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 84South Korea Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 85South Korea Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 86South Korea Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 87South Korea Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 88South Korea Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 89South Korea Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 90South Korea Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 91South Korea Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 92South Korea Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 93Singapore Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 94Singapore Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 95Singapore Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 96Singapore Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 97Singapore Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 98Singapore Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 99Singapore Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 100Singapore Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 101Singapore Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 102Singapore Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 103Singapore Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 104Singapore Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 105Malaysia Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 106Malaysia Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 107Malaysia Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 108Malaysia Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 109Malaysia Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 110Malaysia Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 111Malaysia Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 112Malaysia Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 113Malaysia Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 114Malaysia Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 115Malaysia Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 116Malaysia Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 117Rest of Asia Pacific Polyglycolic Acid Market, 2020 - 2023, USD Million
- TABLE 118Rest of Asia Pacific Polyglycolic Acid Market, 2024 - 2031, USD Million
- TABLE 119Rest of Asia Pacific Polyglycolic Acid Market, 2020 - 2023, Tonnes
- TABLE 120Rest of Asia Pacific Polyglycolic Acid Market, 2024 - 2031, Tonnes
- TABLE 121Rest of Asia Pacific Polyglycolic Acid Market by Form, 2020 - 2023, USD Million
- TABLE 122Rest of Asia Pacific Polyglycolic Acid Market by Form, 2024 - 2031, USD Million
- TABLE 123Rest of Asia Pacific Polyglycolic Acid Market by Form, 2020 - 2023, Tonnes
- TABLE 124Rest of Asia Pacific Polyglycolic Acid Market by Form, 2024 - 2031, Tonnes
- TABLE 125Rest of Asia Pacific Polyglycolic Acid Market by End-user, 2020 - 2023, USD Million
- TABLE 126Rest of Asia Pacific Polyglycolic Acid Market by End-user, 2024 - 2031, USD Million
- TABLE 127Rest of Asia Pacific Polyglycolic Acid Market by End-user, 2020 - 2023, Tonnes
- TABLE 128Rest of Asia Pacific Polyglycolic Acid Market by End-user, 2024 - 2031, Tonnes
- TABLE 129Key Information - BMG Incorporated
- TABLE 130Key Information - Huizhou Foryou Medical Devices Co., Ltd.
- TABLE 131Key Information - Unisur Lifecare Pvt Ltd
- TABLE 132Key Information - Orion Sutures India Pvt Ltd
- TABLE 133Key Information - Kureha Corporation
- TABLE 134Key Information - Shenzhen Polymtek Biomaterial Co., Ltd.
- TABLE 135Key Information - Haihang Industry CO., LTD.
- TABLE 136Key Information - Polysciences, Inc.
- TABLE 137Key Information - Teleflex Incorporated
- TABLE 138key Information - Merck KGaA
