- The chemical industry has witnessed formidable growth across key industries over the past decade. The rising need for novel compounds, including certain types of glycols, provides a large playfield of opportunities to several chemical manufacturers
- The peculiar properties of polyalkylene glycol has helped chemical researchers and scientists in exploring new research lines. In addition to this, the presence of an investment-heavy chemical sector has aided the growth of the global polyalkylene glycol market
ALBANY, New York, April 6, 2020 /PRNewswire/ -- The growth graph of the global polyalkylene glycol market has traced an ascending trajectory in recent times. Rising demand for several forms of glycol that can be used across the automotive sector has driven sales across the market. The chemical industry is making visible efforts to make up for the humongous demand for quality chemicals, polymers, and liquids. The multidisciplinary nature of the chemical industry, coupled with several new research initiatives within it, shall support market maturity. Disruptive technologies for chemical manufacturing have played an integral role in popularising various types of glycol. Research laboratories and testing units have joined the league of entities that test and develop new chemical compounds. In the current scenario, it is legit to believe that the need for polyalkylene glycol across leading industries such as automobile and cosmetics would drive market demand.
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The total worth of the global polyalkylene glycol market is estimated to touch US$ 25.3 Bn by the end of the forecast period between 2019 and 2027. The market held a value of US$ 10.2 Bn in 2018, and is grow at a stupendous CAGR of 11% during the aforementioned forecast.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on Polyalkylene Glycol Market (Type: Polyethylene Glycol, Polypropylene Glycol, and Others; and Application: Polyurethane Foam, Functional Fluids, Lubricants [Automotive Oils, Hydraulic Fluids, Metalworking Fluids, and Others], Personal Care Products, Pharmaceuticals, Surface Active Agents, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/polyalkylene-glycol-market.html
Chemical Research Gains Momentum as New End-Users of Polyalkylene Glycol Emerge
- The chemical industry blows life into several other key industries. The use of polyalkylene glycol in a number of lucrative industries testifies the aforementioned assertion. Manufacturing of polyalkylene glycol has gathered pace over the past decade. Some of the prominent factors responsible for the paced growth of the polyalkylene glycol market are listed below:
- The personal care sector is a progressive industry that continually tests new chemicals and substances. Use of polyalkylene glycol in manufacturing distinct cosmetic products has created a plethora of opportunities within the market.
- The automobile industry also uses glycols in the form of specialised oils. Besides, polyalkylene glycol acts as an effective hydraulic fluid which further drives market demand.
- The past decade has witnessed an increase in investments in pharmaceutical manufacturing. These investments have trickled down to the global polyalkylene glycol market in recent times.
- As the manufacturing of metalworking fluids and surface-active agents gathers pace, the global polyalkylene glycol market shall witness the emergence of fresh avenues for market growth and maturity.
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Automobile Industry at the Forefront of Market Growth
The properties of polyalkylene glycol-based lubricants have played an integral role in driving sales across the global market. The automobile industry has popularised the thermal resistance and water-solubility of PG-based lubricants. Therefore, a large population of people prefer to use PAG-based lubricants in their cars and engines. The environmental-friendliness of polyalkylene glycol has led several OEMs to use it for repair and overhaul operations. The growing demand for eco-friendly and sustainable oils and liquids offers new opportunities for market growth and maturity.
Analyze Polyalkylene Glycol Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Polyalkylene Glycol Market: Key Players
- Covestro AG
- The Dow Chemical Company
- LyondellBasell Industries Holdings B.V.
- Royal Dutch Shell plc
- BASF SE
The global polyalkylene glycol market can be segmented as:
Polyalkylene Glycol Market, by Type
- Polyethylene Glycol
- Polypropylene Glycol
- Others (higher adducts, copolymers, etc.)
Polyalkylene Glycol Market, by Application
- Polyurethane Foam
- Functional Fluids
- Automotive Oils
- Hydraulic Fluids
- Metalworking Fluids
- Others (industrial oils, hydraulic oils, process oils, etc.)
- Personal Care Products
- Surface Active Agents
- Others (chemical intermediates, CASE, and additives)
Polyalkylene Glycol Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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