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Polyethylene Glycol Adhesive Market Size, Share, Growth, Trends and Forecast 2017-2022
Polyethylene Glycol Adhesive Market
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The global polyethylene glycol adhesive market is expected to demonstrate major growth during the forecast period of 2017 to 2022 with prominent compound annual growth rate owing to the increasing significance of its properties like wear resistance, non-toxicity, and solubility in natural solvents. The appearance of PEG as a lubricating solvent in the pharma industry owing to it exhibiting abovementioned properties is anticipated to impact on the global market positively. Pharmaceutical market growth in developing markets involving Brazil, India, and China along with augmented spending on technological innovation is projected to fuel the global PEG market growth. Growing popularity of water-based inks, paints, and coatings due to amplified application scope in automotive and construction industries is estimated to boost the global PEG market demand during the forecast years. PEG is also utilized as a color stabilizer in the manufacturing of ceramic and paper.
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The growth of paper industry in India and China as a result of rising local demand is anticipated to encourage PEG demand. Construction, household, and automotive industries are a major customer of ceramic tiles and the expansion in these industries are predicted to boost the PEG demand during the next few years. The market existence of alternatives like MEG as well as other glycol ethers is anticipated to present a credible risk and impact the global market negatively over the projected period. Technological innovations in hydraulic fracturing have ensued in rising production of alternative resources like tight oil and shale gas, which is prone to augment the petrochemicals availability, intended for PEG manufacturing and likely to unlock new market opportunities.
The major industry players involved in the global polyethylene glycol adhesive market are BASF SE, The Dow Chemical Company, India Glycols Ltd., Zhejiang Huangma Chemical Industry Group Co., Ltd., Ineos, Jiangsu Haian Petrochemical Plant, Liaoning Oxiranchem, Inc., and Croda International Plc. By product, the global market is split as; Medical Grade, Cosmetic Grade, Food Grade and Industrial Grade. According to the application, the market industry is classified as; Medical, Personal Care, Industrial, and Others. Geographically, the global polyethylene glycol adhesive market is segmented into regions which are; Southeast Asia, Asia-Pacific, North America, South America Europe, Africa, Middle East and rest of the world.
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