Press release
Polyethylene Glycol Market Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2022-2030
PEG400 holds a significant share of polyethylene glycol market revenue, attributed to its low-molecular-weight grade with low toxicity. It is highly utilized in the manufacturing of drugs due to the hydrophilic nature of the PEG400, resulting in increased bioavailability and solubility of weaker water-soluble drugs. Ophthalmic solutions also use PEG400 as it acts as a relieving agent in irritation, discomfort or burning sensation in the eyes. Under the form segment, the opaque liquid category holds a significant market share.
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APAC holds the largest share of the polyethylene glycol market, attributed to the massive usage of water-based coatings, inks and paints in the construction industry. Similarly, the surge in the paper industry in China and India results in market proliferation due to the rising demand for chemicals. The hydraulic fracturing technology is expected to create new opportunities for market players, attributed to the surge in unconventional resources production such as tight oil and shale gas.
The medical sector dominates the polyethylene glycol market under the application segment, attributed to the variety of uses of PEG such as dispensing agent, filler for tablets, solvent, ophthalmic solutions' medicinal base and others. PEG is expected to acquire a larger share of the pharmaceutical industry than MEG, resulting in market proliferation. The surge in the pharmaceutical industry is expected to boost the economies of China, Brazil and India, attributed to the technological advancements that drive the market.
The key players in the polyethylene glycol market are focusing on strategic developments to improve their position in the market. For instance, Clariant launched a line of polyethylene glycols having 100% bio-based vitamins and vitamins to deal with climate change in February 2021. Similarly, BASG SE announced the Verbund plant expansion in Belgium to increase the production capacity of the ethylene oxide and its derivatives by nearly 400,000 metric tons per annum, amounting to an investment of $570.2 million in September 2019.
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The U.S. Energy Information Administration reported that presently the crude oil production in the region amounts to 11 million barrels daily. This is why North America holds a 30% polyethylene glycol market revenue share. Moreover, the expansion of the food and beverage and cosmetics and self-care industries drive the market. The rise in the cosmetics & personal care businesses is witnessed in the region, attributed to rising employment, busy lifestyles and growing demand for personal care products.
Therefore, the construction and pharmaceutical industry expansion drives the market.
Browse More Published Report by P&S
Construction Adhesives Market- https://chemicalmaterialsnews.blogspot.com/2022/08/construction-adhesives-overshadowing.html
Sodium Sulphate Market- https://worldwidetrends.tistory.com/7
Triazine Market- https://chemicalandpower.weebly.com/chemicals/surging-oil-gas-exploration-production-activities-fueling-triazine-demand
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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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