World Polyethylene Glycol Market - Opportunities and Forecast, 2020-2027
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Mar 2020 |
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Polyethylene glycol (PEG) is a polyether compound largely used as a solvent, lubricant and solubility agent in various industrial applications. The forms and molecular weight of PEG varies according to the type of initiator used for its polymerization process. Due to its excellent characteristics, such as non-toxicity, hygroscopicity, solubility in the organic solvents, PEG is emerged as a lubricating solution in pharmaceutical applications, such as manufacturing of tablets and ointments. Moreover, increasing acceptance of waterborne coatings and paints in the construction and automotive industry is also expected to boost the demand of PEG as a wear resistant solvent. The construction, pharmaceutical and automotive industries are experiencing a surging growth in Asia Pacific and Latin American region owing to rise in disposable income and rapid urbanization. Therefore, PEG is expected to gain substantial demand from these aforementioned industries, in coming years. However, the stringent environmental regulations associated with manufacturing of pharmaceutical and personal care products, may hinder the market growth.
The world polyethylene glycol market is segmented on the basis of end-user industry and geography. In terms of end-user, the market is segmented into medical, personal care, industrial and others. PEG is largely used in various areas of medical industries including solvents, constipation treatments, tablet fillers, ointments, delivery liquid for medications etc. Geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA.
The major companies are adopting product launch as one of the key strategies to maintain their competitiveness in the global market. For instance, in 2014, Dow Chemical has launched CARBOWAX and CARBOWAX SENTRY MW 200 1000 polyethylene glycols. These PEG are water-soluble liquid or solid polymers used in various applications such as adhesives, ceramics, chemical intermediates, paints and coatings, personal care, textiles, and wood treatment, agriculture, lubricants, printing and inks and household products. The key players of the market includes BASF, The Dow Chemical Company, Croda Inc., Ineos, Liaoning Oxiranchem, Jiangsu Haian Petrochemical Plant and India Glycols etc.
KEY MARKET BENEFITS
- The report provides an in-depth analysis of the world polyethylene glycol market, including information about the current market situation, changing market dynamics, expected trends and market intelligence.
- The factors which drive and impede the growth of the world polyethylene glycol market are comprehensively analyzed in this report.
- Value chain analysis of the industry illustrates a clear understanding about the various stakeholders involved in the market.
- The report contains a comprehensive study of the key strategies adopted by companies to gain traction in the market.
- SWOT analysis highlights the internal environment of leading companies for effective strategy formulation.
- Micro level analysis is conducted based on various potential applications of polyethylene glycol and its usage in different regions.
- The report provides the quantitative analysis of the current market and estimations through 2014-2020 that assists in identifying the prevailing market opportunities.
KEY MARKET SEGMENTS
Market - By End Use Industry
- Medical
- Personal care
- Industrial
- Others
Market - By Geography
- North America
- Europe
- Asia pacific
- LAMEA
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