Polyethylene glycol is also known as polyoxyethylene or polyethylene oxide. It occurrs when one or more alkylene oxides react with an alcohol. It is a hydro fluorocarbon that is mainly produced from ethylene oxides or propylene oxides. Polyalkylene glycol copolymers are obtained from ethylene oxides that provide finest friction control and act as an alternative to hydrocarbon lubricants. Polyalkylene glycol holds enhanced lubricant properties such as great viscosity index and low toxicity. It is used in various applications such as turbine oils, gear lubricants, pharmaceuticals, hydraulic fluid lubricants, textile, industrial air compressor fluids, and others. Among all the applications, polyalkylene glycols are largely used as lubricants in textile manufacturing equipment as extreme pressure gear lubricants.
COVID-19 scenario analysis:
- The COVID-19 pandemic is primarily expected to adversely impact the economy, thereby hampering the market. This is attributed to shift in customer preferences toward essentials.
- The demand for personal hygiene and homecare products is expected to rise due to increase in consciousness among consumers during the pandemic. The pandemic has made consumers more aware of the need to maintain hygiene at a personal level as well as at home to reduce the chances of infection.This is expected to increase the demand for personal care products.
- The textiles and apparels industry is one of the largest and the most significant sectors for the economy in terms of output, foreign exchange earnings, and employment. The COVID-19 pandemic is primarily expected to adversely impact the exports. Moreover, new store openings have stopped and domestic stores are facing an inventory issue as they have buffer stock piled up. The demand for textile and apparels have been drastically decreased.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in consumption of synthetic lubricant and automotive lubricants across the globe are expected to drive the growth of the polyalkylene glycol market. Rise in demand for polyurethane (PU) foam has influenced the demand for polyalkylene glycol (PAG) across various industries such as furniture, automobiles, sculpture, decoration, building & construction, electronic, adhesives, and footwear. Demand for accelerating lubricants in the automobile industry drives the polyalkylene glycol market growth. Polyethylene glycol is used in toothpaste as a dispersant. In this process, it binds water and helps to keep xanthan gum uniformly distributed throughout the toothpaste.The polyalkylene glycol market is expected to grow, owing to superior properties over petroleum lubricants and its use as chemical intermediates and surface active agents. Polyalkylene glycol has various benefits, including environment-friendly nature, best lubrication for compressors, low volatility in high-temperature applications, prominent energy efficiency, easy clean-up of the equipment, widespread scope for innovation, and water solubility.
However, Instability in crude oil prices is expected to hinder the polyalkylene glycol market growth. Furthermore, the availability and entry of new substitute compounds and high costs of the product over conventional mineral oils hamper the growth of the polyalkylene glycol market.
Surge in usage of polyalkylene glycol in lubricant applications:
By region, the polyalkylene glycol market is segmented into North America, Europe, AsiaPacific, and LAMEA. Asia-Pacific has the largest market share in the global polyalkylene glycol market. Product opportunities in personal care, pharmaceuticals, construction, automotive, and aerospace industries in Asia-Pacific are expecred to create lucrative opportunities for the polyalkylene glycol market. Growth in population in China and India along with rapid industrialization and urbanization has led to the development of the construction industry, which boosts the demand for polyalkylene foam and drives the industry growth. The automotive industry is a main end user of polyalkylene glycol-based lubricants. These lubricants are used in engine oils, gear oils, bearing oils, compressor oils, grease, heat transfer fluids, transmission fluids, and metalworking fluids. Furthermore, increase in demand from the automotive sector drives the polyalkylene glycol market.
Key benefits of the report:
- This study presents the analytical depiction of the polyalkylene glycol market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polyalkylene glycol market share.
- The current market is quantitatively analyzed to highlight the polyalkylene glycol market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the polyalkylene glycol market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Polyalkylene Glycol Market Report Highlights
Key Market Players
Idemitsu Kosan Co., Royal Dutch Shell, Saudi Basic Industries Corporation (SABIC), Huntsman International LLC, INEOS Group AG, Exxon Mobil, Croda International PLC, DuPont, Clariant International Ltd., LyondellBasell Industries N.V., Bayer AG, BASF SE, Akzonobel N.V., Repsol Group, The Dow Chemical Company