DUBLIN, Dec. 10, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/bbxpvm/polyalkylene) has announced the addition of the "Polyalkylene Glycols Market - Global Trends & Forecasts to 2020" report to their offering.
This new report predicts high growth in the market due to the increasing demand from end-use industries in the U.S., Germany, France, China, India, and Japan. The increased usage of PAGs in a variety of applications is also one of the key factor driving the PAGs market.
The growing demand for processed food, metal working fluids, surfactants, compressor lubricants, and increased vehicle production is supporting the growth of the global PAGs market. The major restraints of the PAGs market are fluctuating crude oil price. The price of PAGs are quite expensive compared to other conventional oils.
The global PAGs market was estimated to be worth USD 1.33 Billion in 2014 and is projected to reach USD 2.62 Billion by 2020, at a CAGR of 11.7% between 2015 and 2020.
The lubricants application segment dominated the PAGs market and is also expected to witness the highest CAGR during the forecast period. Surface active agents is the second-largest application of PAGs and is also expected to witness a significant growth rate. The growing automotive industry, improved standard of living, and shifting customer preference towards processed food in emerging economies are the main factors driving the growth of this market.
The PAGs market is classified on the basis of type: polyethylene glycol (PEG) and polypropylene glycol (PPG). The PAGs market is dominated by polyethylene glycol because of its high performance and environment friendly properties. PEG is also the fastest-growing application during the forecast period. It is most commonly used in the lubricants application.
Currently, Asia-Pacific is the largest market for PAGs, closely followed by North America. It is also the fastest-growing market for PAGs due to high demand from China, India, and Japan, which are the major market for PAGs. The growing automotive industry and the emerging industrial sector in this region is expected to drive the growth of the PAGs market.
Asia-Pacific and North America are the most active markets in terms of strategic initiatives undertaken. Some of the factors driving the growth of this market are high end-use industry growth, amplified local manufacturing, and increased number of domestic players in various vertical market segments. Expansion is the most preferred strategy adopted by the key market players to sustain in this highly competitive market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Polyalkylene Glycols Market, By Type
7 Polyalkylene Glycols Market, By Application
8 Regional Analysis
9 Competitive Landscape
10 Company Profiles
- Akzonobel N.V.
- BASF SE
- Clariant AG
- Croda International PLC.
- Exxon Mobil
- Huntsman International Llc
- Idemitsu Kosan Co.
- Ineos Group
- PAN Asia Chemical Corporation
- The DOW Chemical Company
For more information visit http://www.researchandmarkets.com/research/bbxpvm/polyalkylene
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets