Publishing: August 2021 | Report Code: CM12224 | Available Format: PDF
The global polyethylene glycol (PEG) market was valued around $4.5 billion in 2020 from 2019, and it is expected to witness substantial growth during the forecast period (2021–2030). The major factors responsible for the growth of the market include the rising demand for PEG as a surface-active agent and specialty solvent in toothpastes, creams and lotions, shampoos, conditioners, deodorants, lipsticks, soaps, bath oils, and detergents. In addition, PEG is rather important in various other industries, such as medical, paint and coating, paper and ceramics, automobile, and construction.
During the COVID-19 pandemic, the operations of the manufacturing sector were disrupted due to the stringent lockdowns that were implemented in most of the countries. Moreover, the closing of international borders severely affected the economy. PEG is widely used in drugs as a carrier molecule, and further, two of the U.S. Food and Drug Administration (FDA)-approved vaccines, of Pfizer and Moderna, have it. Thus, there has been an overall positive influence on the polyethylene glycol market.
The opaque liquid category held the largest share in the polyethylene glycol market in 2020, based on form. This was mainly due to the high usage of this form of PEG in the pharmaceutical industry as a release agent and excipient for capsules.
The PEG 400 category held the largest share in the polyethylene glycol market over the past few years, and it would continue to grow at a significant rate in the coming years, based on grade. This will mainly be due to the fact that PEG 400 is a low-molecular-weight grade with low toxicity. Additionally, it is hydrophilic in nature, which renders it a useful ingredient in drug formulations to augment the solubility and bioavailability of weakly water-soluble drugs. It is also used in ophthalmic solutions for relief from burning, irritation and/or discomfort that follows the drying of the eyes.
The medical category held the largest share in the polyethylene glycol market, both in terms of volume and revenue, in 2020, based on application. This is attributed to the increasing application of PEG in the medical sector, in part due to the rising healthcare expenditure around the world.
Geographically, the APAC region held the dominating share in the polyethylene glycol market over the past few years, and it would continue to dominate it in the forecast period. This is mainly attributed to the rising usage of PEG in the growing medical and pharmaceutical, automotive, and building and construction sectors. In this regard, the increasing use of water-based coatings, paints, and inks in the construction industry is likely to boost the market.
Polyethylene oxide, or high-molecular-weight polyethylene glycol, is synthesized by suspension polymerization. It is necessary to hold the growing polymer chain in the solution during the polycondensation process. The reaction is catalyzed by magnesium-, aluminum-, or calcium-organoelement compounds. To prevent the coagulation of polymer chains from the solution, chelating additives, such as dimethylglyoxime, are used. Nowadays, various research and development (R&D) activities are underway to find new ways to produce PEG that can be eco-friendly, cheap, and energy-efficient. Hence, technological advancements in the manufacturing process are a key trend in the market for polyethylene glycol.
The pharmaceutical industry’s growth in emerging economies, including China, India, and Brazil, coupled with the increasing expenditure on technological advancements, is expected to drive the market for polyethylene glycol. It is used as an inactive ingredient in the pharmaceutical industry, as a solvent, surfactant, plasticizer, ointment, and suppository base for tablets and capsules. Furthermore, the outbreak of new diseases and surging cases of obesity, skeletal problems, cardiovascular diseases, and hypertension will contribute to the increasing healthcare expenditure across the globe, which, in turn, will propel the demand for PEG.
|Base Year (2020) Market Size||~$4.5 Billion|
|Report Coverage||Market Trends; Revenue Estimation and Forecast; Segmentation Analysis; Regional Breakdown; Companies’ Strategic Developments; Product Benchmarking; Company Profiling|
|Market Size by Segments||By Form; By Application; By Grade; By Region|
|Market Size of Geographies||China; India; Japan; South Korea; Australia; U.S.; Canada; Mexico; Brazil; Germany; U.K.; France; Spain; Italy; Saudi Arabia; South Africa|
|Secondary Sources and References (Partial List)||Agency for Toxic Substances & Disease Registry; American Chemical Society; American Chemistry Council; Greenpeace International; International Council of Chemical Associations; Japan Association for International Chemical Information; Pine Chemicals Association; United States Environmental Protection Agency; UN Comtrade Database|
Some of the key players operating in the global polyethylene glycol market are BASF SE, The Dow Chemical Company, Croda International plc, INEOS Group Ltd., India Glycols Limited, Liaoning Oxiranchem Inc., Jiangsu Haian Petroleum Chemical Factory, Clariant Ltd., Huntsman Corporation, and AkzoNobel N.V.
In recent years, players in the polyethylene glycol industry have been involved in expanding their production capacities to gain a significant edge, globally.
The polyethylene glycol market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Form
Based on Grade
Based on Application
The market for polyethylene glycol valued about $4.5 billion in 2020.
Most end users in the polyethylene glycol industry prefer the PEG 400 grade.
China is the largest market for polyethylene glycol.
The polyethylene glycol industry is majorly being driven by the expanding pharmaceutical industry.
To grow in the market for polyethylene glycol, the players are augmenting their production capacity.
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