Press release
Polyethylene Glycol (PEG) Market Detailed Analysis with Forecast 2018-2025 by Global Top Players - BASF, Dow Chemical Company, Lotte Chemical, Liaoning Oxiranchem, Jiangsu Haian Petrochemical Plant, Shanghai Bronkow Chemical, Taijie Chemical, Huangma Chem
Polyethylene Glycol (PEG)
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Polyethylene glycol is formed when ethylene glycol polymerizes and reacts with itself yielding a variety of products called as polyethylene glycols (PEGS). The general molecular formula of polyethylene glycol is H(OCH2CH2)nOH, where n is the number of ethylene glycol units present in the polyethylene glycol polymer. PEGs are non-toxic, colorless and nonirritating, thus, readily soluble in many organic solvents. Varied number of industrial, food and pharmaceutical applications of PEGs contribute positively to the growth of the global polyethylene glycol market.
Polyethylene glycols can be used in the form of dispersing agents, solvents, ointments and as laxatives in medical and pharmaceutical industries. Polyethylene glycol is preferred in production of skin creams and ointment bases as they do not cause any skin irritation. Hence, rise in cosmetic and skincare product industry will cause the global polyethylene glycol market size to grow. In printing, low molecular weight polyethylene glycols are used for the formation of ink solvents and lubricants.
Polyethylene glycols are also used in oral health products such as toothpastes, mouthwashes, breath fresheners and antiseptic mouth rinses. PEGs increase the shelf life and stability of these oral products. Hence, they have a growing demand in oral healthcare industry which compliments the growth of polyethylene glycol market. Also, other medical applications include use of PEGs as fillers for tablets, dispensing agents, suppository bases in ophthalmic solutions and as treatment for constipation. Thus, any rise in demand for these medical applications will eventually lead to rise of polyethylene glycol market. For instance, to meet the growing demand of ethylene glycols, Kuwait’s Petrochemical Industries Company (PIC) built a petrochemical complex in the US.
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However, alternatives such as monoethylene glycol (MEG) and many other derivatives of ethylene glycol pose a credible threat to the growth of polyethylene glycol market. Even if PEGs are considered as inert and safe, the FDA has asked for investigating possible effects of PEG in laxatives for children. Also, new environmental protocols worldwide, which are related to the manufacturing of cosmetics and pharmaceutical products could also impede the polyethylene glycol market growth.
Medical was the largest application for the global polyethylene glycol market, accounting for more than 40% in 2017. Increasing pharmaceutical investments, particularly in emerging economies of China, India and Brazil, is expected to boost the polyethylene market over the forecast period. Also, increase in demands for paints & coatings coupled with growing use of polyethylene glycol as a solvent due to its various benefits are anticipated to fuel the overall polyethylene glycol market.
Asia Pacific dominated the global polyethylene glycol market by occupying more than USD 600 million in 2017. The region is incorporated of key markets such as China and India due to increasing demand from its end-user industry. For instance, in February 2016, Tianying Petrochemical signed a construction contract to setup erthylene glycol plant western China. The first phase of the plant has 150KT/year capacity.
Application Overview, 2015-2025 (USD million) (Kilo tons)
• Medical
• Personal care
• Industrial
• Others
Regional Overview, 2015-2025 (USD million) (Kilo tons)
• North America
• Europe
• Asia Pacific
• Rest of the World
Reasons for the study:
• The study assesses the dynamics and movement of the global polyethylene glycol market across various geographies
• While studying the polyethylene glycol market, we observed that the demand for its products was growing fastlo in developing countries
• The market is fragmented and major players have their presence across the globe. The companies, as a strategic step are opening new manufacturing facilities to meet the domestic demand
What does the report include?
• The report focuses on polyethylene glycol market and its application industries.
• The study on the global polyethylene glycol market includes qualitative factors such as value chain analysis, drivers, and restraints
• The study covers qualitative and quantitative analysis of the market segmented on the basis of application. Moreover, the study provides similar information for the key geographies
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence
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Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.
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Adroit Market Research
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