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Polyglycolic Acid Market Trends

  • Report ID: GMI2415
  • Published Date: Nov 2024
  • Report Format: PDF

Polyglycolic Acid Market Trends

Polyglycolic acid (PGA) is gaining traction in the oil and gas industry due to its unique properties, which make it highly suitable for challenging applications in well drilling and hydraulic fracturing. PGA’s rapid biodegradability and controlled degradation are particularly valuable for temporary downhole applications, where materials need to perform effectively under high pressures and temperatures before breaking down naturally, minimizing retrieval costs and environmental impact. For instance, PGA can be used to create degradable frac balls and plugs that temporarily block zones within a well during fracturing and dissolve over time, eliminating the need for mechanical retrieval and reducing the potential for well obstruction.
 

In addition, PGA is proving effective as a material for diverting agents in hydraulic fracturing operations, allowing operators to better manage fracture flow paths and optimize resource extraction. As oil and gas operations increasingly look to enhance efficiency and reduce operational costs, PGA provides a sustainable alternative to traditional materials, aligning with industry efforts to minimize environmental impact and regulatory pressures associated with non-degradable materials. The expanding interest in PGA within the sector is also driven by the polymer’s ability to improve operational efficiency, lower downtime, and reduce waste and maintenance costs associated with debris recovery.
 

This growing range of applications for PGA in the oil and gas industry highlights its importance as an innovative material, bolstering the market’s growth as the sector seeks sustainable, efficient, and high-performance solutions for complex extraction processes.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for polyglycolic acid was valued at USD 9.1 billion in 2024 and is projected to reach USD 14.3 billion by 2034, driven by a CAGR of over 4.5% from 2025 to 2034.

Medical applications held a dominant market share of 90.4% in 2024, driven by PGAs high biocompatibility and biodegradability.

The U.S. market was valued at USD 5.6 billion in 2024, driven by increasing demand from the medical and oil & gas industries.

Major players in the industry include BMG Incorporated, Corbion, DuPont, Ethicon, Evonik, Huizhou Foryou Medical Devices, Kureha, Shenzhen Polymtek Biomaterial, and Teleflex.

Polyglycolic Acid Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 9
  • Tables & Figures: 240
  • Countries covered: 18
  • Pages: 310
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