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Polyethylene Glycol Market To Reach USD 6,909.6 Million by 2030

03-14-2023 05:32 AM CET | Tourism, Cars, Traffic

Press release from: P&S Intelligence

Polyethylene Glycol Market To Reach USD 6,909.6 Million by 2030

The total value of the polyethylene glycol market was about USD 4,534.8 million in 2021, and it will grow at a CAGR of 4.8% in the years to come for reaching a value of USD 6,909.6 million by 2030, as per a report by P&S Intelligence.

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The PEG 400 category had the largest share, and it would grow at a momentous growth rate, of over 5%, in the years to come, on the basis on grade. This will mostly because of the fact that PEG 400 is a low-molecular-weight grade with low toxicity.

Moreover, it is hydrophilic, which lets for its use in the manufacturing of drugs for increasing the bioavailability and solubility of weakly water-soluble drugs. It is likewise put to use in ophthalmic solutions for relief from the annoyance, burning, and/or uneasiness that one experiences after the drying of the eyes.

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The pharma industry's growth in developing economies, such as India, China, and Brazil, as well as the growing spending on technological progressions, will drive the polyethylene glycol market. PEG is put to use as an inactive ingredient in the pharma industry, such as a solvent, plasticizer, surfactant, ointment, and suppository base for capsules and tablets.

The outburst of novel ailments and increasing obesity cases, cardiovascular diseases, skeletal problems, and hypertension contribute to the growing healthcare spending all over the world, which, in order, will power the requirement for this chemical.

It is because of the increasing use of polyethylene glycol as a specialty surface-active agent in toothpastes, creams & lotions, deodorants, shampoos, lipsticks, bath oils, soaps, conditioners, and detergents, the demand for Polyethylene Glycol will be on the rise in the future.

About P&S Intelligence

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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