Polyethylene Glycol Market to be Worth $7,482.4 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 2, 2023 /PRNewswire/ -- The global polyethylene glycol market size is expected to reach USD 7,482.4 million by 2030, registering a CAGR of 6.0% according to a new report by Grand View Research, Inc. Increasing use of Polyethylene Glycol (PEG) as a solvent in the manufacturing of laxatives and eye drops coupled with the growth of the pharmaceutical industry is anticipated to drive the market. The evolution of waterborne coating and paint in automotive and construction industries owing to the growing demand for eco-friendly products is expected to augment PEG market growth.

Key Industry Insights & Findings from the report:

• PEG market demand in industrial applications accounted for less than 30.6% of volume share in 2022 and is expected to witness growth on account of development in automotive, construction, marine, electronics, and aerospace industries. Growing automotive production coupled with increasing construction expenditure, particularly in emerging economies of Asia Pacific, Middle East and Latin America, is anticipated to drive PEG market growth.

• Asia Pacific was the largest market for PEG owing to the presence of a large scale pharmaceutical and automotive manufacturing base in the region. Rapid industrialization in the region over the past decade augmented PEG demand and the trend is anticipated to continue over the forecast period. Growing demand for skincare products as a result of rising consumer purchasing power is expected to play a vital role in the growth of PEG market.

• Latin America and the Middle East are likely to witness above-average growth on account of the growing automotive industry as well as increasing expenditure on building & construction over the forecast period.

• Key market participants include BASF SE, The Dow Chemical Company, Ineos, Liaoning Oxiranchem, Jiangsu Haian Petrochemical Plant, India Glycols and Taijie Chemical. The global market for PEG was fragmented due to the presence of numerous companies. Gaining popularity of PEGlycation technology in pharmaceutical and biotechnological applications due to its pharmacological advantages and acceptability is expected to have a positive impact.

Read 120 page full market research report for more Insights, "Polyethylene Glycol Market Size, Share & Trends Analysis Report By Application (Medical, Personal Care, Industrial, Others), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Polyethylene Glycol Market Growth & Trends

Medical was the largest application for PEG, accounting for more than 40% of market share in 2022. Superior blending, hygroscopicity, and non-toxic properties of PEG have resulted in high demand for the chemical in numerous pharmaceutical products such as tablets and ointments. Increasing pharmaceutical expenditure, particularly in emerging economies of India, China, and Brazil, is expected to boost PEG market over the forecast period. Growing demand for paints & coatings coupled with the increasing use of PEG as a solvent due to its low VOC emissions is anticipated to fuel market growth over the next six years.

Polyethylene Glycol Market Segmentation

Grand View Research has segmented the global polyethylene glycol market report based on application, and region:

Polyethylene Glycol Market - Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Medical
• Personal Care
• Industrial
• Others

Polyethylene Glycol Market - Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

List of Key Players in Polyethylene Glycol Market

• BASF
• Dow Chemical Company
• LOTTE CHEMICAL
• Ineos
• Croda
• Liaoning Oxiranchem
• Liaoning Kelong
• Jiangsu Haian Petrochemical Plant
• Shanghai Bronkow Chemical
• Taijie Chemical
• Huangma Chemical
• India Glycols

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• Chlorinated Polyethylene Market - The global chlorinated polyethylene market size is expected to reach USD 890.3 million by 2025, according to a new report by Grand View Research, Inc. The market is expected to exhibit significant growth owing to increasing demand for chlorinated polyethylene elastomers (CPE) due to their superior heat, temperature and oil resistance. In addition, increasing use of high performance chlorinated polyethylene in chemical industry owing to their non-corrosive properties, is expected to drive growth over the forecast period.

Browse through Grand View Research's  Organic Chemicals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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