Polyglycolide (PGA), also known as polyglycolic acid, polyglycolic acid, is a linear aliphatic polyester polymerized from glycolic acid, which is a biodegradable semi-crystalline thermoplastic. It is also the simplest linear aliphatic polyester. PGA resins are known for their excellent gas barrier properties, relatively high strength, and excellent biodegradability. Some grades of PGA have a similar biodegradation rate to cellulose and can be decomposed into carbon dioxide and water within one month under certain conditions.
PGA and its copolymers such as poly(lactic acid-co-glycolic acid) and poly(lactide-co-caprolactone) are used in many applications. Due to the very low permeability of PGA to O2 and CO2, it can be used as a packaging film for oxygen-sensitive products, e.g. as an intermediate layer between two polyester films. Other important applications include shale gas extraction and other industrial processes, as well as synthetic fast-absorbing sutures for internal surgery.
In-depth analysis and outlook of the global PGA resin market**
1. Market overview
According to QYRESEARCH's latest report, "Global PGA Resin Market Report 2023-2029", the PGA (polyglycine) resin market is experiencing rapid expansion. Thanks to its application in diversified fields such as electrical and electronics, automotive, aerospace, rail transit, construction, new energy and biomedicine, PGA resin has become an important part of the high-performance engineering plastics market. According to the report, the global PGA resin market size will reach 5$200 million and is expected to grow at $26 in the next few yearsThe compound annual growth rate (CAGR) of 7% continues to grow.
2. Market participants
The global PGA resin market is mainly dominated by several large producers, including Kureyu, Evonik, Samyang, Shenzhen Boli Biomaterials, Shanghai Pujing Chemical, Teleflex, Corbion, BMG, Meta, and Danhua Technology (Tongliao Golden Coal). These companies occupy a dominant position in the market by virtue of their advantages in technology, production scale and market layout. In 2021, the combined market share of the top five global manufacturers was approximately 910%, indicating a high degree of concentration in the market.
3. Market drivers
Technological progress and product innovationWith the development of new material technology, the performance of PGA resin has been continuously optimized, and the application field has continued to expand. Especially in the field of new energy and biomedicine, the potential application value of PGA resin is gradually being explored.
Raising awareness of environmental protectionAs an environmentally friendly material, :p ga resin has the characteristics of high quality and low pollution, which is in line with the current global environmental protection trend, so it is favored by more and more consumers.
Global economic growth and consumption upgradingWith the recovery of the global economy and the promotion of consumption upgrading, the demand for high-performance engineering plastics continues to grow, which provides a broad space for the development of the PGA resin market.
Fourth, market challenges and risks
Strengthening of environmental regulationsWith the increasingly stringent environmental protection regulations of various countries, the production and application of PGA resin need to meet higher environmental protection standards, which puts forward higher requirements for the production technology and cost control of enterprises.
Raw materials fluctuateThe raw materials of :p ga resin are affected by a variety of factors and fluctuate greatly, which may have an unstable impact on the production cost and product ** of the enterprise.
Technical barriers and patent protectionThere are certain technical barriers and patent protection problems in the :p ga resin industry, and new entrants to the market need to break through these barriers in order to gain a competitive advantage.
Fifth, the market and strategic suggestions
Considering the growth potential and challenges of the global PGA resin market, the following strategies are recommended for companies to adopt:
Increase investment in technology research and development and innovationThrough continuous technological innovation and product research and development, we will improve the performance and quality of PGA resin to meet the changing needs of the market.
Expand the field of application and marketActively explore new application fields and markets, especially potential fields such as new energy and biomedicine, in order to expand market share.
Strengthen environmental protection and sustainable development
AwarenessPay close attention to the changes in environmental protection regulations, strengthen environmental protection management in the production process, and promote the green and sustainable development of the PGA resin industry.
Establish a stable ** chain and cooperative relationshipThrough close cooperation with merchants and customers, we ensure the stability of raw materials and the smooth sales of products.
Overall, the global PGA resin market has broad development prospects and huge market potential. In the face of market challenges and opportunities, enterprises need to actively respond, strengthen technology research and development and innovation, expand application fields and markets, and promote the sustainable and healthy development of the PGA resin industry.