Global Polyethylene Glycol Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
"Global Polyethylene Glycol Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global polyethylene glycol market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global polyethylene glycol market report has been segmented on the basis of application and region.
Polyethylene glycol (PEG), also known as polyethylene oxide or polyoxyethylene, is a polyether compound used for various applications such as medical, personal care, industrial, and others in order to produce better quality products. The chemical formula of polyethylene glycol is C2nH4n+2On+1. Polyethylene glycol is soluble in water, methanol, ethanol, benzene, acetonitrile, and dichloromethane, and is insoluble in diethyl ether and hexane. PEG is produced by the interaction of ethylene oxide with water or ethylene glycol, or ethylene glycol oligomers and catalyzed by acidic or basic catalysts.
Rising demand for polyethylene glycol as a lubricating solution in pharmaceuticals for the manufacturing of tablets and ointments, is a major factor expected to drive growth of the global polyethylene glycol market over the forecast period. In addition, growing construction, and automotive industries owing to rising demand for waterborne paints and coatings, which in turn increase demand for polyethylene glycol, is another factor anticipated to fuel growth of the target market in the next coming years. Moreover, increasing demand for skincare and cosmetic products boost demand for polyethylene glycol. This is a dynamic factor expected to drive growth of the potential market over the forecast period.
However, availability of substitutes such as monoethylene glycol and other glycol ethers may hamper demand for polyethylene glycol and restrain growth of the global polyethylene glycol market over the forecast period. In addition, stringent government regulation about environmental concern is a factor challenging growth of the target market over the forecast period.
Increasing research and development in medicines which in turn upsurge demand for polyethylene glycol is expected to create a lucrative opportunity for growth of the global polyethylene glycol market over the forecast period. Additionally, development of bio-based polyethylene glycol as a sustainable solution is about to create new opportunity for growth of the target market in next coming years.
On the basis of application, the medical segment is anticipated to account for significant growth in terms of revenue in the target market over the forecast period. Increasing importance of material properties such as non-toxicity, wear resistance, and solubility in organic solvents is expected to drive revenue growth of the segment over the forecast period.
The polyethylene glycol market in Asia Pacific holds major share in terms of value in the target market and is expected to maintain its dominance over the forecast period. This dominance can be attributed to the rapid industrialization coupled with growing pharmaceutical, automotive and construction sectors in countries in the region, which in turn increase demand for polyethylene glycol over the forecast period. North America polyethylene glycol market is anticipated to account for significant growth in terms of revenue in the global polyethylene glycol market in the next coming years, owing to growing pharmaceutical and automotive industries in the region. The Europe polyethylene glycol market is projected to witness for significant growth rate in the target market during the forecast period.
Market Segmentation and Key Players Operating in the Global Polyethylene Glycol Market:
Segmentation on the Basis of Application:
- Personal Care
- Others (Ceramics, Chemical Intermediates, Paints and Coatings, Textiles, Wood Treatment, Agriculture, Lubricants, etc.)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- DowDuPont Inc.
- LOTTE Chemical Corporation
- Ineos AG
- Croda International Plc
- Liaoning Oxiranchem, Inc.
- Liaoning Kelong Chemical Industrial Co., Ltd.
- Jiangsu Haian Petrochemical Plant
- Shanghai Bronkow Chemical Co., Ltd.
- India Glycols Limited
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