Press release
2025-2034 Polyethylene Glycol Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Polyethylene Glycol Market
What Will the Polyethylene Glycol Industry Market Size Be by 2025?
The market size for polyethylene glycol has experienced robust growth in the past few years. The market is projected to expand from $4.58 billion in 2024 to $4.88 billion in 2025, registering a compound annual growth rate (CAGR) of 6.5%. The significant growth during the historic period can be credited to factors such as increasing demand in the pharmaceutical industry, burgeoning usage in textile production, growing demand in the automotive industry, rising consciousness about environmental implications, regulatory certifications, and adherence to safety standards.
What's the Long-Term Growth Forecast for the Polyethylene Glycol Market Size Through 2029?
The market for polyethylene glycol is projected to witness robust growth in the coming years, expanding to $6.22 billion in 2029 with a 6.3% compound annual growth rate (CAGR). Several factors are anticipated to drive this growth during the forecast period, including consumers' shifting preference towards eco-friendly goods, wider applications in nanotechnology, rising demand for personal care items, regulatory focus on environmentally sustainable production practices, and increasing demand from budding economies. The forecast period is also expected to witness key trends such as enhanced focus on bio-based polyethylene glycol, its integration in 3D printing applications, extension of its applications in the medical devices sector, the creation of specific grades for particular industries, and collaboration between producers and end-users for product customization.
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What Are the Key Growth Drivers Fueling the Polyethylene Glycol Market Expansion?
The proliferation of the polyethylene glycol market in the future is planned to be energized by the increasing need for medications. Various factors fueling the escalating demand for medications include a rise in chronic illnesses, elderly populations, developments in medical procedures, growth in healthcare protection, and heightened consumer knowledge about available health care services. Polyethylene glycol plays an instrumental role in pharmaceutical formulations, facilitating drug delivery mechanisms, augmenting solubility and amplifying treatment effectiveness. For instance, prescription drug expenditure rose by 8.4% in 2022, amounting to an impressive $405.9 billion, outperforming the growth rate seen in 2021 by 6.8%, according to data released in December 2023 by the Centers for Medicare & Medicaid Services, a federal institution based in the US. Thus, the increasing need for medication is driving the polyethylene glycol market.
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What Are the Key Trends Driving Polyethylene Glycol Market Growth?
Leading corporations in the polyethylene glycol market are creating advanced high-dose versions of polyethylene glycol (PEG) drugs to enhance patient comfort and adherence. These PEG drugs are devised to diminish the dosage frequency, thereby boosting patient fidelity to the prescribed treatment. For instance, in May 2022, EA Pharma Co., Ltd., rooted in Japan and specializing in pharmaceuticals, alongside its holding company Eisai Co. Ltd., also a Japan-based health care firm, and Mochida Pharmaceutical Co. Ltd., another Japan-based company that offers pharmaceuticals and skin care commodities, brought to market a high-dose PEG drug - MOVICOL HD. This version improves on MOVICOL LD by doubling the amount in each sachet to offer improved treatment alternatives and elevate the patient journey for those struggling with chronic constipation. These breakthroughs represent notable strides in the medical and pharmaceutical utilization of polyethylene glycol. They offer improved treatment effectiveness and patient contentment, thereby fueling the ongoing development and expansion of the polyethylene glycol market to tackle the issue of chronic constipation.
How Is the Polyethylene Glycol Market Segmented?
The polyethylene glycol market covered in this report is segmented -
1) By Type: Molecular Weight (Mw) (Less Than 1000), Molecular Weight (Mw) (1000-10000), Molecular Weight (Mw) (Greater Than 10000)
2) By Form: Opaque Liquid, Powder, Flakes, White Waxy Solid
3) By Application: Medical And Pharmaceutical, Automotive, Building And Construction, Plastics, Aerospace, Other Applications
Subsegments:
1) By Molecular Weight (Mw) Less Than 1000: PEG 200, PEG 300, PEG 400
2) By Molecular Weight (Mw) 1000-10000: PEG 1000, PEG 1500, PEG 4000, PEG 6000, PEG 8000
3) By Molecular Weight (Mw) Greater Than 10000: PEG 12000, PEG 20000, PEG 35000, PEG 80000, PEG 100000
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Which Companies Are Leading the Charge in Polyethylene Glycol Market Innovation?
Major companies operating in the polyethylene glycol market are Exxon Mobil Corporation, Mitsui Chemicals Inc., BASF SE, Dow Chemical Company, Saudi Basic Industries Corporation, Thermo Fisher Scientific Inc., Mitsubishi Chemical Corporation, Merck KGaA, INEOS Group, Evonik Industries AG, Solvay S.A., Arkema S.A., Huntsman Corporation, PETRONAS Chemicals Group, Clariant, Croda International Plc, Ashland, Liaoning Oxiranphex Inc., India Glycols Limited, GFS Chemicals Inc., Saibaba Surfactants PVT LTD, Tokyo Chemical Industry Co. Ltd., Noah Chemicals, Carl Roth, Dynalene Inc.
Which Regions Are Leading the Global Polyethylene Glycol Market in Revenue?
Asia-Pacific was the largest region in the polyethylene glycol market in 2024. The regions covered in the polyethylene glycol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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