Press release
Polyethylene Glycol Market is Anticipated to Expand upto $5.98 Billion in 2029
Polyethylene Glycol
What Is the Forecasted Market Growth Rate of the Polyethylene Glycol Industry?
In the past few years, the polyethylene glycol market has experienced a robust growth. The market is expected to expand from a worth of $4.58 billion in 2024 to $4.81 billion in 2025, marking a compound annual growth rate (CAGR) of 5.1%. Factors contributing to this growth during the historical timeframe include escalating demand in the pharmaceutical sector, additionally its use in textile production has increased. The automotive industry's rising demand, growing consciousness about environmental issues, regulatory sanctions, and adherence to safety standards have also played significant roles in this growth.
How Will the Polyethylene Glycol Market Size Evolve From 2025 to 2029?
The market size for polyethylene glycol is projected to experience significant expansion in the forthcoming years, with the expectation to rise to a value of $5.98 billion by 2029, with a compound annual growth rate (CAGR) of 5.6%. The anticipation of growth during the forecast period is primarily due to the shift in consumer preference towards eco-friendly products, the widening applications in the field of nanotechnology, an escalation in the demand for personal care products, regulatory emphasis on sustainable production methods, and increased demand from developing economies. Key trends to watch out for during the forecast period are an amplified focus on bio-based polyethylene glycol, the incorporation of polyethylene glycol in 3D printing application, the further use of polyethylene glycol in medical devices, the creation of specialized grades for various industries, and the cooperation between manufacturers and end-users to customize products.
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What Are the Main Growth Drivers in the Polyethylene Glycol Market Today?
The expected expansion of the polyethylene glycol market hinges on the growing need for medication. This rising need stems from factors such as the escalating incidence of chronic illnesses, the aging demographic, advancements in medical procedures, an increase in healthcare coverage, and heightened consumer knowledge concerning healthcare choices. As a crucial component in pharmaceutical compositions, polyethylene glycol enhances drug delivery systems, improves solubility, and increases the efficiency of treatments. For instance, data disclosed by the Centers for Medicare & Medicaid Services, a federal agency based in the US, revealed that in December 2023, prescription drug expenditure saw a rise of 8.4% in 2022, hitting a significant $405.9 billion, surpassing the growth rate recorded in 2021 at 6.8%. This growing need for medicine, therefore, is fueling the polyethylene glycol market.
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Which Polyethylene Glycol Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Polyethylene Glycol Industry Growth?
Leading corporations in the polyethylene glycol market are creating high-potency versions of polyethylene glycol (PEG) drugs to enhance patient ease and adherence. These medical solutions are constructed to decrease medication frequency, hence increasing the likelihood of the patients sticking to their therapy plans. For instance, in May 2022, Japan-based specialty pharmaceutical firm, EA Pharma Co., Ltd., in partnership with its parent company Eisai Co. Ltd., a healthcare corporation also in Japan, and Mochida Pharmaceutical Co. Ltd., another Japanese company that offers pharmaceutical and skincare goods, released MOVICOL HD. This is a high-dose formulation of the PEG drug MOVICOL LD. The product offers increased convenience by doubling the amount present in each sachet, better treatment alternatives, and improving the user experience for those suffering from chronic constipation. These advancements depict a significant milestone in the use of polyethylene glycol in medical and pharmaceutical fields, offering improved treatment effectiveness and patient satisfaction, contributing to the continuous advancement and expansion of the polyethylene glycol market in handling chronic constipation issues.
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Which Companies Hold the Largest Market Share in the Polyethylene Glycol Sector?
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.
Where Is the Polyethylene Glycol Market Experiencing the Highest Growth?
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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Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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