The global polyethylene glycol market size was US$ 4.8 billion in 2021. The global polyethylene glycol market size is forecast to reach US$ 7.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
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Essentially a polyether molecule, polyethylene glycol (PEG), has the structural formula H(O)(CH2CH2)n(OH)). Ethylene oxide and water react under pressure with the help of a catalyst to create it. Depending on the molecular weight polyethylene glycol is available in three different forms. These are PEGs that, in varying amounts, are miscible with all other grades of PEG. PEG is soluble in acetone, alcohols, benzene, glycerin, and glycols and is accessible in liquid form. PEG is flexible, non-immunogenic, non-toxic, hydrophilic (water-soluble), and physiologically inert. PEG has several uses, including those in the pharmaceutical, medical, business, industrial, and biological fields. In tablet formulations, PEG is combined with another binder to increase the efficiency of binders and give granules plasticity.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
The increasing product demand from the automotive and chemical industries and the growing penetration of Polyethylene Glycol (PEG) in the aerospace industry drive the global market.
The growing building and construction industry has increased the production and accessibility of different grades of polyethylene glycol, particularly for the use of water-based paints to provide a high-quality protective coating boosting the global market growth.
The rising awareness about its advantages, such as non-toxicity, solubility, and wear resistance in organic solvents fuel the global market growth.
The availability of alternatives such as MEG and other glycol ethers may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic has had an impact on the polyethylene glycol market’s productivity and operations. In order to stop the coronavirus from spreading, many nations implemented some sort of shutdown. Across the entire value chain, this had an impact on the transportation and distribution of the product and raw materials. Additionally, the pandemic-related economic slowdown has compelled end-user industries to reduce their operational rates. The credit crunch, lockdowns, and travel restrictions worldwide had affected the production and important end-user markets. The global introduction of vaccinations and quick immunization campaigns will limit the spread of illnesses and promote economic growth.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising utilization in the region’s developing medical and pharmaceutical, automotive, and building and construction sectors. In addition, the growing usage of water-based coatings, paints, and inks in the construction industry.
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Leading Competitors
The leading prominent companies profiled in the global polyethylene glycol market are:
Dow Chemical
Ineos
BASF
KAO
Blaunon
Liaoning Oxiranchem
Jiangsu Haian
Clariant
Croda
PCC SE
Norchem
Oxiteno
Lotte Chemical
Sanyo Chemical
India Glycols
Petronas Chemicals
Shandong Ruisheng
Jiangxi Yipusheng
Liaoning Huaxing
Other Prominent Players
Scope of the Report
The global polyethylene glycol market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Mw (>1000)
Mw (1000-10000)
Mw (10000-20000)
Segmentation based on Application
Medical
Personal Care
Industrial
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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