Global Polyethylene Glycol (PEG) Market Share Is Expected to Grow At A CAGR Value Of Around 8.16% By 2030

17-Jun-2020 | Facts and Factors

According to the Facts and Factors report, the global polyethylene glycol (PEG) market size was valued around USD 4,750 million in 2022 and is expected to surpass around USD 8,225 million by 2030 with a compound annual growth rate (CAGR) of roughly/approximately 8.16% between 2023 and 2030 or during the projection/forecast period [2023-2030].

Polyethylene Glycol (PEG) Market

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Polyethylene glycol (PEG) is one of the most widely used non-ionic compounds in the distribution of polymeric drugs. Thanks to the high aqueous permeability of polyethylene glycol, it is used for pro-drug declension. This position of recognition and use of PEGlycation technologies in bioengineering and medicinal applications has resulted in many innovative steps across the healthcare sector. Current research literature attests to the multiple applications of composites derived from polyethylene glycol (PEGs).

Browse the full “Polyethylene Glycol (PEG) Market By Application(Medical, Personal Care, Industrial, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2030" https://www.fnfresearch.com/polyethylene-glycol-peg-market-by-applicationmedical-personal-care-1183

Expansion in the healthcare sector in developing markets such as China, India, combined with increased technological advancement spending, is expected to drive the PEG market. The increasing popularity of water-based polymers, colors and inks is projected to increase the market potential for PEG over the projection period as a result of increasing application in the construction and automotive industries. PEG can also be used as a color stabilizer in paper and ceramic processing.

Growth in the paper industry in China and India is expected to stimulate demand for PEGs due to increased domestic demand. Automotive, construction and residential industries have been a key user of ceramic tiles, and the increase in these industries is expected to increase demand for PEG over the next few years. The introduction on the market of alternatives, including MEG and other glycol ethers, is expected to pose a significant threat and adversely affect the market over the estimated period.

Technological developments in hydraulic fracturing have led to an increase in the development of unconventional assets, including oil and gas and shale oil, which are likely to expand the supply of petrochemicals, are intended for the development of PEGs and are expected to open up new market paths. Acme-Hardesty has produced chemistry-based PEG derived from sugar cane, which is projected to be used as a long-term solution, opening up new prospects for PEG throughout the forecast period.

In 2019, medical applications are the largest form of application where PEG is used in oncology alternatives such as dispensing agents, cleaning agents, drug delivery fluids, ointments, tablet additives and syringe bases, and constipation care. Due to its quasi-toxic nature, the implementation of PEG as an alternative to MEG (monaural-ethylene glycol) in the healthcare sector is expected to have a substantial market impact. PEG is also used as a binder for the manufacture of advanced ceramics and as a gas insulator to induce superconductivity in a dual-transistor. PEGs are also commonly used in cosmetics such as thickeners, moisture boosters, softeners and solvents. Nonetheless, technological developments are likely to be limited by the health and environmental issues associated with the application of PEGs to personal care goods.

As a result of the rapid growth in the healthcare, automotive and construction industries in India and China, Asia Pacific is projected to be one of the largest PEG markets. North America is projected to see growth due to U.S. supremacy in the global pharmaceutical industry combined with an increase in Mexican automotive production. The European Commission has developed support policies for the biopolymer industry. As a result, chemical manufacturers are expected to concentrate on creating bio-based PEGs that are likely to open up new business opportunities. Over the forecast period, the favorable outlook for the downstream oil and gas industry in the Middle East and Brazil is expected to ensure the availability of raw materials for PEG production.

Report Scope

Report Attribute

Details

Market Size in 2022

USD 4,750 Mllion

Projected Market Size in 2030

USD 8,225 Million

CAGR Growth Rate

8.16% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Dow Chemical, Huangma Chemical, India Glycols, BASF, Croda, Liaoning Oxiranchem, Ineos, and Others

Key Segment

By Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the leading players in the global market include are

Dow Chemical, Huangma Chemical, India Glycols, BASF, Croda, Liaoning Oxiranchem, Ineos, and Others.

This report segments the Polyethylene Glycol (PEG) market as follows:

By Application Segmentation Analysis

  • Medical
  • Personal Care
  • Industrial
  • Others

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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