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Polyglycolic Acid Market Will Be Worth of Us$424.5 Mn in 2023, Expanding at a Cagr of 10.10% Between 2015-2023

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Transparency Market
Research
Polyglycolic Acid Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023

Published Date
30-Dec-2015

98 Page Report

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Press Release

Growing Demand for Absorbable Sutures to Create Growth
Opportunities for Polyglycolic Acid Market, reports TMR
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Polyglycolic Acid Market

REPORT DESCRIPTION
Polyglycolic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 2023
The study presented here is based on a report by Transparency Market Research (TMR) titled “Polyglycolic
Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
According to TMR, the opportunity in the polyglycolic acid market, worldwide, was worth US$181.7 mn in 2014
with a production volume of 1,690.0 tons. Expanding at a CAGR of 10.10% between 2015 and 2023, it is likely
to reach US$424.5 mn by the end of the forecast period.
North America led the demand for polyglycolic acid in 2014 with a share of nearly 72%. The region is expected
to continue to lead throughout the forecast period with revenue reaching US$213.4 mn by 2023. Shale gas
extraction is anticipated to remain the key application area of polyglycolic over the forthcoming years.
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Polyglycolic Acid Experiences High Demand due to Rising Application of Absorbable Sutures
“The demand for polyglycolic acid has received a strong push from the growing application of absorbable
sutures over the last few years,” says an analyst at TMR. Before its widespread application in packaging and
shale gas extraction, polyglycolic acid was mainly utilized in the production of absorbable sutures. As these
sutures dissolve in the...

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