Driven by Expanding Demand in Biomedical, Packaging, and Oil & Gas Applications

Business Upturn

4 days ago

Austin, June 09, 2025 (GLOBE NEWSWIRE) — The global polyglycolic acid market was valued at USD 5.72 billion in 2024 and is projected to reach USD 12.01 billion by 2032, expanding at a compound annual growth rate (CAGR) of 9.72% from 2025 to 2032.
The demand for PGA is primarily attributed to its excellent biodegradability, high tensile strength, as well as compatibility with living tissue, preferably used for sutures, bioresorbable implants, and in tissue engineering applications. The trend towards compostable materials, especially in the packaging sector, has accelerated the interest in PGA-based compostable bags and films. PGA has a specific application in frac plugs and diverters in the oil and gas industry, which reduces operational time and clean-up following operation in a significant group of game-changing applications.
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The U.S Polyglycolic Acid market size was USD 1.79 billion in 2024 and is expected to reach USD 3.67 billion by 2032 and grow at a CAGR of 9.39% over the forecast period of 2025-2032.
It is driven by robustness in key end-use industries such as healthcare and oil & gas. The country has a well-established medical infrastructure, research, and development expertise, and a highly salient regulatory setting for innovative bioresorbable materials (PGA for surgical sutures, implants, and drug delivery systems). Moreover, the demand for degradable tools such as frac plugs and diverters based on PGA is further fueled by the U.S. shale gas boom that has offered a reliable, green solution to hydraulic fracturing operations.
Key Players: Kureha Corporation
Evonik Industries AG
Corbion N.V.
BMG Incorporated
Shenzhen Polymtek Biomaterial Co. Ltd.
Foryou Medical
Meta Biomed
Huizhou Foryou Medical Devices Co. Ltd.
Teleflex Incorporated
Meril Life Sciences
Polyglycolic Acid Market Report Scope: Report Attributes Details Market Size in 2024 USD 5.72 Billion Market Size by 2032 USD 12.01 Billion CAGR CAGR of 9.72% From 2025 to 2032 Base Year 2024 Forecast Period 2025-2032 Historical Data 2021-2023 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Drivers • Growing Packaging Industry Drives the Market Growth.
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By Derivatives
The fibers segment accounted for the largest revenue share of the global polyglycolic acid (PGA) market with approximately 48% in 2024. PGA accounts for the majority primarily due to its mechanical merits, such as high tensile strength, ideal biodegradability, and high hydrolysis rates, which allow PGA to be converted into fibers. Due to their ability to degrade in vivo without an inflammatory response, PGA fibers are the most widely used absorbable surgical sutures, which are a mainstay product in the biomedical industry.
By End-use Industry
In 2024, the medical segment held the largest share of the total market value at about 32%. The main reason for this prominent position is that PGA is the most popular biodegradable polymer used in absorbable sutures, tissue scaffolds, drug delivery systems, and orthopedic implants in the biomedical field. Because of its great biocompatibility, mild controllable degradation, charge, and retention of strength, PGA is a promising cloth for an internal clinical technique that requires brief structural backing or function before the fabric will dissolve in the body.
Regional Analysis
In 2024, the global polyglycolic acid (PGA) market had North America as the dominant region with around 42.35% of total revenue. Such dominance is mainly due to established healthcare infrastructure, high presence of key medical device manufacturers, and adoption of innovative bioresorbable materials in this region. In particular, the USA has been leading the use of PGA for use in absorbable sutures, implants, or even in drug delivery systems due to the growing request for less invasive and patient-friendly surgery solutions. Moreover, the shale gas industry growth in the region has enhanced the application potential for PGA in oil and gas, like degradable frac plugs and diverters, providing better efficiency while reducing environmental impact.
Recent Developments
In February 2025, Kureha Corporation, one of the major worldwide producers of polyglycolic acid, confirmed the growth of its PGA production plant in Fukushima, Japan.
In November 2024, Evonik Industries announced the launch of a new medical-grade PGA filament intended for additive manufacturing. The product is specifically designed for bioresorbable implants and promises new possibilities in 3D-printed medical devices.
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