Polyethylene Glycol Market Trends and Drivers

Trends in Polyethylene Glycol Market

Bio-Based PEG Is Major Trend in Market

In recent years, there has been an increase in demand for bio-based PEG, in order to reduce the impact of petroleum-based waste. Advancements in manufacturing technologies and R&D are aimed at improving the processing technologies, enhancing product development, and increasing the number of application areas of PEG, thus offering ample growth opportunities to players offering bio-based PEG.

Furthermore, the demand for bio-based PEG from end-use industries, including cosmetics, pharmaceuticals, food, adhesives & sealants, and paints & coatings, is increasing. For instance, the bio-based ingredients used in skin and sun care solutions generated around $2 billion revenue in 2021. These ingredients hold the largest share in the market, and the demand for these products is expected to maintain the same trend in the coming years. This is primarily due to the surge in awareness about skin and sun care products among consumers and the active involvement of chemical companies in launching natural ingredients for such cosmetics. For instance, in February 2022, Clariant International Ltd. announced the launch of Vita 100% bio-based surfactants and PEGs range. Clariant uses 100% bioethanol derived from sugar cane or corn to create ethylene oxide for its innovative new surfactants and PEGs. The bio-based material is fully segregated along the value chain from the field to the final consumer product. Because only bio-based feedstock is used, the ingredients have significantly lower carbon footprints than their fossil-based counterparts.

Growth in Pharmaceutical Industry Is Driving Market

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. PEG is used as an inactive ingredient in the pharmaceutical industry, including as a solvent, surfactant, plasticizer, ointment, and suppository base for tablets and capsules. It has low toxicity, with systemic absorption of less than 0.5%. The proliferating production of eye drops and laxatives for treating constipation, along with its extensive usage in drug delivery and nanotechnology due to its reported “stealth” properties and biocompatibility, strengthen the demand for PEG. The outbreak of new diseases and surging cases of obesity, skeletal problems, cardiovascular diseases, and hypertension contribute to the increasing healthcare expenditure across the globe, which, in turn, will propel the demand for this chemical.

Moreover, PEG-containing materials are extensively used in the adhesion, hemostasis, anti-leakage, and anti-adhesion treatment of wounds in various surgical operations. At the same time, they can also be utilized as a raw material for implanted medical devices in the human body, replacing the widely used plant-, animal-, and human-sourced materials. The other major application is multi-arm PEG derivatives in medical devices, which can form hydrogels due to their relatively high molecular weights; they also have good water barrier properties and tissue activity. Utilizing this characteristic of PEG, it can be made into a medical device for hemostasis and tissue isolation, which progressively degrades in the human body and is completely discharged outside the body. The above-mentioned tissue sealants or tissue isolation medical devices are widely used in surgery or tumor radiotherapy.

Side-Effects of PEG Ill-Affect Market Growth

PEG often instigates signs of allergic reactions, such as difficulty in breathing and swelling of THE face, lips, tongue, and throat. One could potentially develop sleep disorder, rectal bleeding, blood in stools or severe and worsening stomach pain. Moreover, it can cause nausea, abdominal bloating, and cramping. There are also a few serious side-effects of drugs containing PEG, such as diarrhea and hives.

In the pediatric population, the U.S. Food and Drug Administration (FDA) has received reports of seizures, tremors, obsessive-compulsive behaviors (including repetitive chewing and sucking), paranoia and mood swings, tics, headaches, sedation, aggression, anxiety, lethargy, and rage with the prolonged use of PEG-containing drugs. Hence, these side-effects hinder the consumption of drugs containing PEG and hamper the market growth.