Polyethylene Glycol Market 2024-2029: Industry Outlook, Trends Analysis, New Opportunities, and Prospects

The polyethylene glycol market is set for steady growth, driven by its versatile applications in pharmaceuticals, cosmetics, and industrial sectors. Rising demand for water-soluble polymers and biocompatible materials supports expansion. However, raw material price fluctuations may pose challenges. Innovation and sustainability will shape future growth.
The polyethylene glycol market is expected to grow at a CAGR of 6.2% to reach USD 5.31 billion by 2029 from USD 3.94 billion in 2024. The report provides a professional in-depth examination of the industry current scenario, CAGR, gross margin, revenue, price, production growth rate, volume, value, polyethylene glycol market share [https://www.marketsandmarkets.com/Market-Reports/polyethylene-glycol-market-83158233.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=polyethyleneglycol], and growth are among the market data assessed and re-validation in the research. The PEG market is driven by increasing demand in various end-use industries like pharmaceutical and personal care. PEG is employed as solvent, stabilizer and binder for drug formulations to improve the solubility and year bioavailability of drugs. Moreover, the increasing awareness of product efficacy and safety in cosmetics and skincare products has led to rise in the demand for PEG in personal care industry.

The market is driven by growing demand for more biobased polyethylene glycol which companies are looking to replace more of the petroleum based products. The regions with strong industrial base such as North America, the ongoing research and development has helped to increase the use of PEG in products like coatings, lubricants, and other industrial applications. Additionally, the government policies supporting industrial growth contribute to the market growth.

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"Pharmaceutical Industry account the largest share in PEG market."

PEG is versatile as a non-active component in formulation of drugs and drug delivery systems that are used in the pharmaceutical industry. PEG assists in the enhancement of solubility and stability of the Active Pharmaceutical Ingredient focused on in the manufacturing of diverse drugs. In drug delivery systems, PEG can improve the controlled release of intended medications as well as minimize the toxicity which is useful in the treatment. It is also involved in solvent, plasticizer as well as a binder in the production of tablet, ointment and capsules. Besides this, it is also used in ointments, topical solutions and medical laxatives which makes its use even more in the pharmaceutical sector. Furthermore, growing diseases like diabetes and cancer or other chronic diseases increase the use of PEG as a material for formulation and delivery of drugs.

"White wax solid is the fastest growing form of PEG during the forecast period, in terms of value."

White wax solid is the fastest growing form of PEG due to its properties and versatile applications across different industries. This form of PEG is easy to handle particularly in applications that require controlled melting and uniform texture. The white wax solid PEG is used for pharmaceutical applications for producing ointments, creams, and topical formulations. Its ability to stay in solid forms at room temperature makes it ideal for applications which require long shelf life. The moisturizing and binding properties of white wax solid make it especially useful in cosmetics & personal care industry in manufacturing of lotions, creams, and lip balms. Additionally, white wax solid is also preferred for industrial applications its lubricating and anti-static properties in coatings and plastic processing. These all combine to drive the white wax solid form of PEGs market forward, making it the form with the most growth.

"Asia Pacific is projected to be the fastest growing region of PEG, in terms of value, during the forecast period."

The Asia Pacific region has rapidly growing pharmaceutical and healthcare industries especially in countries like India and China which drive the market for PEG in drug formulations and delivery systems. Apart from the growth of the healthcare sector, the region's increasing industrial capacity, especially in chemical and cosmetics and food industries is also the main driving force to its PEG consumption. With rising consumer awareness and disposable income, there is an increase in the usage of PEG in skin care and beauty products.

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PEG is a major component in many products such as cosmetics, shampoos, lotions, and other products in the care category and this industry has benefited from improved disposable incomes especially from maturing Asian giants like China and India along with South East Asia. Additionally, significant investments in healthcare infrastructure and personal care industry further enhance PEG applications, while the government policies support the industrial growth to the region's rapid market expansion. The ongoing expansions of end use industries along with growing awareness of PEG's advantages position Asia Pacific as a fastest growing region for PEG market.

Polyethylene Glycol Companies [https://www.marketsandmarkets.com/ResearchInsight/polyethylene-glycol-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=polyethyleneglycol]

The key global players in the PEG market, such BASF (Germany), Dow (US), Clariant (Switzerland), Lotte Chemical Corporation (South Korea), Sanyo Chemicals Industries Ltd (Japan), Sabic (Saudi Arabia), Kao Corporation (Japan), Croda International Plc (UK), Indian Glycols Limited (India), INEOS (India), Merck KGaA (Germany), Indorama Ventures Public Company Limited (Thailand) and NOF Corporation (Japan) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches, mergers and expansions.

BASF

BASF is a leading manufacturer of chemicals globally. The company operates its business through seven business segments namely, Chemicals, Industrial Solutions, Nutrition & Care, Materials, Surface Technologies, Agricultural Solutions, and Others. The company sells PEG under Nutrition & Care business segment. The Nutrition & Care is further divided into Care Chemicals, Nutrition & Health Care businesses. The sub-segment Nutrition & Health of the company offers products under Pharma Solutions, Nutrition, and Aroma Ingredients. It provides PEG through its pharma solutions, which specializes in the production of high-quality active pharmaceutical ingredients (APIs) and excipients designed to enhance drug formulations. The company has strong experience in chemical manufacturing allowing it to produce PEG with consistent quality and consistency. The company is strengthening its supply chain by expanding its production facilities across different regions.

Dow

Dow is one of the leading global manufacturers of chemicals. The company provides a wide range of products and solutions in sectors such as packaging, infrastructure, consumer care, and electronics. It operates majorly through three business segments namely, Performance Materials & Coatings, Industrial Intermediates & Infrastructure and Packaging & Specialty Plastics. The Industrial Intermediates & Infrastructure is broken down into two businesses - Industrial Solutions and Polyurethanes & Construction Chemicals. It offers PEG through Industrial Solutions sub-segment under CARBOWAX SENTRY brand name. The company runs 98 manufacturing plants spread across 31 countries in North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.The company has strong brand reputation in the market due to its compliance with regulatory standards meeting safety requirements. The company is expanding its global presence by launching sustainable products across different regions.

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Clariant

Clariant is a leading manufacturers of specialty chemicals. It operates its business through three business units, namely, Catalysts, Care Chemicals, and Adsorbents & Additives segments. Clariant has extensive presence in global market along with production facilities located in Europe, North America, South America, China, and Indian regions. The company focuses of sustainable PEG products making it suitable for environmentally conscious consumers and businesses. Clariant has strengthened its presence in market with the help of product distribution agreement with Azelis for various pharmaceutical products. It has 68 production facilities across 24 countries.

Lotte Chemical Corporation

Lotte Chemical Corporation is a leading manufacturer of chemicals globally. It is a part of LOTTE Group. The company manufactures a wide range of products used in various industries such as construction, automotive, and electronics, including specialty chemicals, polymers, and synthetic resins. The company operates through four business segments: Basic Chemicals, Fine Chemicals, Advanced Materials, and Battery Materials. PEG is sold by the company through its segment of Basic Chemicals. The company operates its main petrochemical production facilities in Yeosu, Daesan and Ulsan in South Korea. LOTTE Chemical CORPORATION has expanded its presence worldwide with locations in the US, China, Japan, and Turkey, distributing products to more than 120 countries. The company holds extensive production facilities and advanced manufacturing technologies. It shares key global alliances to ensure supply of raw materials and to make diversified its product portfolio, catering to various industries, such as pharmaceuticals, personal care, and industrial applications. It has 15 manufacturing facilities, and 6 sales corporation located across the world.

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