Polyglycolic acid market to witness phenomenal proceeds in the U.S., shale gas extraction to drive the regional trends
Europe is also forecast to stand tall in the regional hierarchy with an estimated annual growth rate of 8% over 2017-2024.
(EMAILWIRE.COM, August 23, 2018 ) Being one of the biggest beneficiaries of the developments in tissue bioengineering, polyglycolic acid market has garnered hefty proceeds in the medical sector. In fact, as per reliable estimates, the medical fraternity contributed to more than 60% of the overall polyglycolic acid market size in 2016. Widespread adoption of absorbable sutures has been a chief driver of the increasing demand for PGA from this sector. Reportedly, the global surgical suture market is already a billion-dollar space and is anticipated to witness remarkable growth in the ensuing years.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2415
Elaborating further on the application arena of polyglycolic from medical space, tissue engineering, biodegradable bone graft polymers, transplantation procedures, cell culture, etc. are some of the renowned opportunistic areas generating a massive demand for PGA. Due to the biodegradable properties of PGA, it has been categorized as one of the most widely used biodegradable bone graft polymers. For the records, the global biodegradable bone graft polymers market is projected to witness a CAGR of 7.5% over 2017-2024.
However, despite the medical applications holding a major chunk of polyglycolic industry size, the contributions of shale gas extraction and packaging domains has also been commendable. PGA has been widely adopted in shale gas extraction driven by its operational efficiency and cost reduction capabilities. In fact, as per a report by Global Market Insights, Inc. this sector is estimated to be catalogued as the fastest growing application of PGA market, with a target CAGR of 8% over 2017-2024.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2415
In terms of geographical standards, North America stood as one of the biggest recipients of this application growth and led the overall PGA market in 2016. For the records, North America procured 60% of polyglycolic acid industry size in 2016, with U.S. as a chief revenue pocket. Allegedly, the United States, driven by its recorded shale gas production, has been classified as a prominent facilitator of the global energy change. As per the U.S. EIA, the country’s natural gas consumption is estimated to reach 31.6 TcF by 2040. 56% of this growth is believed to be driven by upward development in shale gas production.
In this context, it is imperative to mention that the packaging applications have also been a prominent driver of global PGA industry trends, driven by the product’s excellent biodegradability and flexural strength. PGA has seen a remarkable rise in its demand curve with its proven benefits over conventional plastics. As per estimates, 30% of the PGA industry application landscape was procured by packaging sector in 2016. Film form of PGA has been extensively used in packaging applications and is estimated to record a CAGR of 8.5% over 2017-2024.
All in all, the profitability matrix of PGA market is projected to remain high with the sustainability and biodegradability trends becoming mainstream. The competitive landscape is likely to be monopolistic, synonymous to that in 2016, with Kureha Corporation as the leading player. In terms of commercialization potential, global polyglycolic acid market is slated to surpass a revenue of USD 9 billion by 2024.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2415
Elaborating further on the application arena of polyglycolic from medical space, tissue engineering, biodegradable bone graft polymers, transplantation procedures, cell culture, etc. are some of the renowned opportunistic areas generating a massive demand for PGA. Due to the biodegradable properties of PGA, it has been categorized as one of the most widely used biodegradable bone graft polymers. For the records, the global biodegradable bone graft polymers market is projected to witness a CAGR of 7.5% over 2017-2024.
However, despite the medical applications holding a major chunk of polyglycolic industry size, the contributions of shale gas extraction and packaging domains has also been commendable. PGA has been widely adopted in shale gas extraction driven by its operational efficiency and cost reduction capabilities. In fact, as per a report by Global Market Insights, Inc. this sector is estimated to be catalogued as the fastest growing application of PGA market, with a target CAGR of 8% over 2017-2024.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2415
In terms of geographical standards, North America stood as one of the biggest recipients of this application growth and led the overall PGA market in 2016. For the records, North America procured 60% of polyglycolic acid industry size in 2016, with U.S. as a chief revenue pocket. Allegedly, the United States, driven by its recorded shale gas production, has been classified as a prominent facilitator of the global energy change. As per the U.S. EIA, the country’s natural gas consumption is estimated to reach 31.6 TcF by 2040. 56% of this growth is believed to be driven by upward development in shale gas production.
In this context, it is imperative to mention that the packaging applications have also been a prominent driver of global PGA industry trends, driven by the product’s excellent biodegradability and flexural strength. PGA has seen a remarkable rise in its demand curve with its proven benefits over conventional plastics. As per estimates, 30% of the PGA industry application landscape was procured by packaging sector in 2016. Film form of PGA has been extensively used in packaging applications and is estimated to record a CAGR of 8.5% over 2017-2024.
All in all, the profitability matrix of PGA market is projected to remain high with the sustainability and biodegradability trends becoming mainstream. The competitive landscape is likely to be monopolistic, synonymous to that in 2016, with Kureha Corporation as the leading player. In terms of commercialization potential, global polyglycolic acid market is slated to surpass a revenue of USD 9 billion by 2024.
Contact Information:
Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results
Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results