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Polyethyleneglycol Esters of Fatty Acids Market In-depth Research Report and End-User Analysis By 2016 - 2024
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Based on application, the polyethyleneglycol (PEG) esters market has been segmented into lubricants, emulsifiers, dispersants, and additives. The lubricants segment accounts for a significant share of the global polyethyleneglycol esters market, owing to growth of the manufacturing sector and rise in the number of OEMs. The emulsifiers segment is expected to experience high growth, led by growth in the use of PEG esters as emulsifiers in several end-uses. Growth in the fertilizers sector is anticipated to boost the PEG esters market during the forecast period, as PEG esters are used as self-emulsifying herbicides, insecticides, and fungicides.
In terms of region, the global polyethyleneglycol (PEG) esters market has been segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. North America was the leading market for polyethyleneglycol esters in 2015. The market in North America is estimated to expand in the next few years, due to the increase in demand for lubricants in various end-use industries in the region. The lubricants segment held a major share of the polyethyleneglycol esters market in North America in 2015. The segment is driven by the rising demand from OEMs and the automotive sector in the region. Asia Pacific is expected to be the rapidly expanding market for PEG esters during the forecast period, due to the growing fertilizers sector in the region.
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Countries such as China, India, and Japan are likely to constitute a major share of the polyethyleneglycol esters market in Asia Pacific, due to high growth in end-use applications of polyethyleneglycol esters in these countries. The polyethyleneglycol esters market is anticipated to witness a shift from the U.S. and Western Europe to the developing economies of Asia Pacific due to less stringent environmental regulations in those economies. Developing economies in Asia Pacific viz. China and India are projected to witness high growth of the pigments industry. This, in turn, would boost the demand for polyethyleneglycol esters in these countries. Technological advancements and innovations are expected to increase the use of polyethyleneglycol esters. This, in turn, is expected to fuel the polyethyleneglycol esters market during the forecast period.
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