Polyglycolic Acid Market
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<strong>Polyglycolic</strong> <strong>Acid</strong> <strong>Market</strong><br />
On the flip side, the high cost of polyglycolic acid is likely to limit its application considerably over the years to<br />
come. Traditionally, it was utilized in small portions for the production of absorbable sutures; however, shale<br />
gas extraction, packaging, and other application such as agriculture, filters, and civil engineering resins. Being<br />
a costly material, it is facing severe difficulty in its large-scale commercialization, which is creating a hindrance<br />
in its utilization across various application areas.<br />
Apart from this, the dearth of awareness among people regarding the usage of polyglycolic acid is also<br />
expected to hamper its demand in the near future. However, the increasing preference for plastic packaging for<br />
beverages is expected to present growth opportunities for polyglycolic acid producers across the world.<br />
North America to Remain Key Contributor in Revenue Generated by <strong>Polyglycolic</strong> <strong>Acid</strong> Globally<br />
With Kureha PGA LLC holding a market share of nearly 84%, the global market for polyglycolic acid<br />
demonstrated a highly concentrated and monopolistic competitive landscape in 2014, reports Transparency<br />
<strong>Market</strong> Research (TMR) in a recent study. Over the next few years, no significant change is expected in the<br />
current arrangement, owing to which the competition in the market is anticipated to remain low.<br />
Browse the Full Research Report : http://www.transparencymarketresearch.com/polyglycolic-acidmarket.html<br />
Kureha Corp., the only commercial-scale producer of polyglycolic acid utilized in non-medical applications, is<br />
likely to remain the key shareholder of this market between 2015 and 2023. However, other players, such as<br />
Teleflex Inc., EI Du Pont De Nemours & Co., and Huizhou Foryou Medical Devices Co. Ltd. may gain<br />
considerable momentum in medical and biomedical applications, states TMR.<br />
Key Takeaways<br />
• A total of 1,690.0 tons of polyglycolic acid were produced in 2014<br />
• The opportunity in the polyglycolic acid market in North America will stand at US$213.4 mn by 2023<br />
• Shale gas extraction is likely to remain the key consumer of polyglycolic acid between 2015 and 2023<br />
Transparency <strong>Market</strong> Research<br />
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