Global Polyethylene Glycol Market, By Grade (PEG 200, PEG 300, PEG 400, PEG 600, PEG 1000, PEG 3350, PEG 4000, PEG 6000, PEG 8000, and Others), Form (Opaque Liquid, Powder, Flakes, and White Waxy Solid), Packaging Type (Plastic Bottles, Drums, Bags, Cartons), Application (Healthcare, Building and Construction, Industrial, Cosmetics/Personal Care, and Others) - Industry Trends and Forecast to 2030.
Polyethylene Glycol Market Analysis and Size
PEG is used in a variety of sectors, including healthcare, cosmetics, manufacturing, and more. It is prized for its solubility, viscosity, and stability, among other qualities. The market encompasses producers, suppliers, and consumers engaged in the manufacturing, formulation, and utilization of PEG-based products. Factors influencing the market include raw material costs, demand in various sectors, regulatory considerations, and technological advancements. PEG's widespread use in a variety of applications creates a dynamic global market structure, with pricing, innovation, and sustainable practices serving as key focal points.
The global polyethylene glycol market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The global polyethylene glycol market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing at a CAGR of 6.4% in the forecast period of 2023 to 2030 and is expected to reach USD 8,025.05 million by 2030. The increasing demand for medicines and increasing pharmaceutical applications are some of the driving factors expected to propel the market growth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volume in Tons
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Segments Covered
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Grade (PEG 200, PEG 300, PEG 400, PEG 600, PEG 1000, PEG 3350, PEG 4000, PEG 6000, PEG 8000, and Others), Form (Opaque Liquid, Powder, Flakes, and White Waxy Solid), Packaging Type (Plastic Bottles, Drums, Bags, Cartons), Application (Healthcare, Building and Construction, Industrial, Cosmetics/Personal Care, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Russia, Switzerland, Belgium, Netherlands, Turkey, Denmark, Sweden, Poland, Norway, Finland, Rest of Europe, Japan, China, South Korea, Australia, Singapore, Thailand, Taiwan, Vietnam, New Zealand, Malaysia, Indonesia, Philippines, India, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, Egypt, South Africa, Qatar, United Arab Emirates, Oman, Kuwait, Bahrain, and Rest of Middle East and Africa
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Market Players Covered
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SABIC (Saudi Arabia), LOTTE Chemical Corporation (South Korea), INEOS (U.K.), Croda International Plc (U.K.), BASF SE (Germany), Dow (U.S.), India Glycols Limited. (India), Liaoning Kelong Fine Chemical Co., Ltd. (China), Noah Chemicals (U.S.), GFS Chemicals, Inc. (U.S.), Hefei TNJ Chemical Industry Co., Ltd. (China), CLARIANT (Germany), Mitsui Chemicals, Inc. (Japan), Dynalene, Inc. (U.S.), Shanghai Bronkow Chemical Co., Ltd. (China), Saibaba Surfactants PVT LTD (India), Carl Roth GmbH + Co. KG (Germany), among others.
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Market Definition
Polyethylene glycol (PEG) is a versatile polymer that is widely used in various industries, including pharmaceuticals, cosmetics, food, and industrial applications. Polyethylene glycol (PEG) is a synthetic polymer made up of repeating ethylene glycol units. The polyethylene glycol market refers to the global industry that produces and supplies PEG and its derivatives to meet the demand of diverse sectors.
Global Polyethylene Glycol Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Growing demand for medicines
Though drug discovery is a tedious process that takes eons, research, and development towards creating new innovative pharmaceuticals is becoming important due to the increased number of chronic diseases, aging population, and entry of generic competitors in the future market.
The pharmaceutical industry is growing globally at an increased rate with ‘Pfizer’ medicine having the highest sales rate in the market. The research and development department of Pfizer also predicted that the main research is attributed towards oncologic and pain killer drugs, lipid regulators, antidiabetics, respiratory agents, and others with the United States showing the highest revenue growth. In the evaluation of the pharmacodynamics of candidate compounds, the metabolism of drugs plays a direct role. Polyethylene glycol acts as an inactive ingredient in the pharmaceutical industry, usually as a wetting and thickening agent in ointment, and creams, and a used to add protective coatings tablets. Moreover, its use as an electrolyte solution, for the examination of disorders and dysfunctionality in the colon of humans is all well known.
- High demand for water-based paints
Water-based coatings and paints have been used for decades in various industries to give high-quality finishing and protection against corrosion. Water-based coatings are very popular in the market due to their ability to offer great resistance to heat as well as abrasion. The growth in the building and construction industry, particularly in developing countries boosting the use of water-based paints in the market.
The base of water-borne paints is mainly composed of pigment aqueous dispersion and polymer which is very close to the viscosity of the water dispersion medium. However, this fact restricts the enhancement ability of the water-borne coatings.
- High demand for ice-creams
Polyethylene glycol serves as non-toxic antifreeze, that is used by manufacturers in a variety of food especially ice creams. The ice crystals sometimes ruin the silky texture of ice cream making it hard as ice. Polyethylene glycol act as an antifreeze comprising of gelatine protein due to which can be added to ice creams as well as other frozen food items to maintain the creamy texture and prevent the formation of ice crystals so that these consumables remain in their same shape as they were packed.
Xanthan gum, a high stabilizing preservative used in ice creams requires polyethylene glycol as a water binding agent that is required to maintain a uniform distribution of these gums in the product. Xanthan gums are extensively popular as it is soluble in hot and cold water and possess resistance towards different varying temperatures. Additionally, the gum is compatible with almost all commercial thickeners and stabilizers.
Opportunities
- Production of polyethylene glycol- 400 for eye drop applications
Polyethylene glycol-400 is a clear and colorless liquid that is mainly derived from petroleum possessing the characteristic of a standard petroleum polyethylene glycol. The shelf life of these eye drops is one year when stored in a cool and well-ventilated space.
Polyethylene glycol-400 is a low molecular weight compound with a very low toxicity level. It is very hydrophilic which makes it useful in drug formulations. Its major application lies as an ophthalmic solution which is generally used for the treatment of burning, discomfort, or dryness of eyes. There are various names such as blink gel tears, blink tears, or vision true tear liquids for eye drop solutions that contain the same compound. The reason behind the dryness of the eyes is the reduced tear production or increased tear evaporation. However, polyethylene -400 has been declared as a temporary relief for the burning and irritation in the eyes and protection against irritation and desiccation.
- Production of PEG for skin therapy and ointment applications
Ointments are topical solutions with single-phased systems that are hydrophobic or hydrophilic in nature. They have the characteristic of being less greasy or oily when in use or after it is used and can be easily washed off from the surface of the skin. Ointments are applied to the skin to reduce inflammation and allergic skin reactions. Some ointments are greasier than creams and are only applied if the skin is dry. One should apply a thin layer of ointment as their absorption into the skin can lead to severe skin-damaging effects.
Polyethylene glycol-based hydrophilic ointments prevent crystallization in topical semi-solid topical formulations. High molecular weight polyethylene glycols such as PEG 1450, PEG 3350, and higher serve as viscosity enhancers of the hydrophilic ointment base which improves the stability of ointment for a longer period sustaining the durability of the product. Since polyethylene glycol is water-soluble topical preparations based on polyethylene glycols can serve as first aid medicines to various wounds and burns and in the treatment of minor cuts.
Restraints/ Challenges
- Viscosity instability issues in PEG
Solvents play a major role during the preparation of chemicals and their processing. To produce intermediate chemicals, the reaction is always processed in solutions. The study of the viscosity of these liquid mixtures helps in recognizing the physiochemical properties and behavior of the solution. Polyethylene glycol is a polyether compound that contains ethylene oxide and water. All the grades of Polyethylene glycol act as a structure maker in aqueous solutions having a different range of viscosities as well as serve as green solvents in the making of various compounds of pharmacological and medical interest. Additionally, PEGylation of biologics has currently been adopted as the global standard for half-life extension.
Though it is the perfect tool for chemically modifying the properties of biologics, the non-biodegradability of PEG and extremely high viscosity at high concentrations makes it unfit for use because of the possible nephron and hepatic toxicities. Further, anti-PEG hinders the therapeutic efficacy of PEGylated proteins another safety concern. As a result, many alternatives and approaches are being adopted instead of the PEGylation technique both medically as well as commercially.
- Strict regulations in the pharmaceutical industry
Polyethylene glycol is a compound that is widely used in pharmaceutical formulations including every variety of parental, topical, oral, rectal, and ophthalmic disorder preparations. Solid grades of Polyethylene glycol with an addition of liquid-grade polyethylene glycol can be used in topical ointments and as ointment bases. Moreover, these Liquid polyethylene glycols are used as water-soluble solvents in soft gelatin capsules. However, adsorption of moisture by polyethylene glycol from the gelatin can sometimes lead to hardening of capsule shell which alternately can affect the health of the patient consuming it.
Additionally, there are several grades of polyethylene glycols capable of triggering an allergic reaction in people such as rashes, extensive bowel movements, and diarrhea. So proper grades of polyethylene glycols have to be used irrespective of the increased financial and technical investment, even a proper grade of polyethylene glycols has impurities depending on the efficiency of the manufacturing process. If not properly taken care of these impurities can also cause complications to the consumer of products manufactured using those polyethylene glycols.
- Fluctuating raw material prices
Price fluctuation refers to the instability in the pricing of a product which causes the product’s price to vary every, now and then. As the manufacturers receive raw materials at a higher cost than usual, the production cost, as well as the overall pricing of the products increases.
Polyethylene glycol is highly dependent on ethylene glycol as it is derived from the polymerization reaction of ethylene oxide and water, and these products are prone to high price fluctuation because of inadequate production and research & development. Moreover, the unavailability of raw materials such as ethylene glycol also enhances the rate the price fluctuations
Though the demand for polyethylene glycol is increasing due to its less toxicity, low production of the raw materials from which polyethylene glycol is extracted, and the expensive and time consumable nature of this synthesis process have not only resulted in an increased cost of raw material but also becoming pose a challenge for the growth of the market.
Recent Developments
- In June 2023, GFS Chemicals, Inc. is thrilled to have earned the Ohio Chemistry Technology Council's coveted 2023 Award for Excellence (OCTC). The Award for Excellence honors Ohio chemical businesses that have excelled in environmental, health, safety, and security performance throughout the preceding year. This allows the firm to obtain greater awareness and reach across North America.
- In December 2022, CLARIANT is planning to expand its Care Chemicals factory in Daya Bay, Huizhou, China, to better serve clients in the pharmaceutical, personal care, home care, and industrial applications. The CHF 80 million (USD 91.05 million) investment will see capacity enhancements for existing products as well as the launch of new products by the end of 2024. The CLARIANT Daya Bay production plant has become China's first API producer with approved polyethylene glycol Polyglykol 3350 after successfully receiving the medication GMP certificate. This investment would help Clariant establish a new worldwide base for its healthcare business.
- In January 2022, INEOS Oxide and Wilmar announced that the sale of the Wilmar Ethoxylation facility in Lavéra, France, to INEOS has been finalized. They can continue to expand in the European market thanks to this purchase, which is a wonderful match for their alkoxylation company. Now, they will run alkoxylation equipment across three connected INEOS plants. They are eager to expand their network with this capacity, which will improve their ability to serve the European market together with their future expansion in Zwijndrecht, Antwerp, Belgium.
- In August 2021, Croda International Plc has expanded its Mill Hall high-purity excipients factory. Croda's commitment to growing its Life Sciences business and generating breakthrough pharmaceutical excipients is reinforced by this investment, confirming Croda's Purpose to utilize Smart science to enhance lives. Croda continues its ambitious goal of being People Positive by 2030 by contributing to the successful development of 25% of WHO-listed pipeline vaccines with its newest Mill Hall expansion.
In July 2021, ExxonMobil and SABIC declared that a monoethylene glycol unit and two polyethylene units at their joint venture, Gulf Coast Growth Ventures, in Corpus Christi, Texas, had completed mechanical completion. These three factories will create the basic chemicals needed in packaging, automotive, and medical applications. A crucial component of SABIC and ExxonMobil's strategy to meet the rising demand for their high-value performance products is Gulf Coast Growth Ventures.
Global Polyethylene Glycol Market Scope
The global polyethylene glycol market is segmented into four notable segments based on grade, form, packaging type, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Grade
- PEG 400
- PEG 600
- PEG 200
- PEG 300
- PEG 1000
- PEG 3350
- PEG 4000
- PEG 8000
- PEG 6000
- Others
On the basis of grade, the market is segmented into PEG 200, PEG 300, PEG 400, PEG 600, PEG 1000, PEG 3350, PEG 4000, PEG 6000, PEG 8000, and others.
Form
- Opaque Liquid
- Powder
- Flakes
- White Waxy Solid
On the basis of form, the market is segmented into opaque liquid, powder, flakes, and white waxy solid.
Packaging Type
- Drums
- Plastic Bottles
- Bags
- Cartons
On the basis of packaging type, the market is segmented into drums, plastic bottle, bags and cartons.
Application
- Healthcare
- Industrial
- Cosmetics/Personal Care
- Building and Construction
- Others
On the basis of application, the market is segmented into healthcare, industrial, cosmetics/personal care, building and construction, and others.
Global Polyethylene Glycol Market Regional Analysis
The global polyethylene glycol market is analyzed and market size information is provided by grade, form, packaging type, and application as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Russia, Switzerland, Belgium, Netherlands, Turkey, Denmark, Sweden, Poland, Norway, Finland, Rest of Europe, Japan, China, South Korea, Australia, Singapore, Thailand, Taiwan, Vietnam, New Zealand, Malaysia, Indonesia, Philippines, India, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, Egypt, South Africa, Qatar, United Arab Emirates, Oman, Kuwait, Bahrain, and Rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market due to the growing demand for pharmaceutical applications. China is the fastest growing country in this region as polyethylene glycol products are highly manufactured and consumed there. U.S. is the dominating country in North America due to the growing demand for ice creams there and need for polyethylene glycol. Germany is the dominating country in the Europe market due to gowing demand in medicines.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and the Global Polyethylene Glycol Market Share Analysis
The global polyethylene glycol market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the market.
The major players covered in this report are SABIC, LOTTE Chemical CORPORATION, INEOS, Croda International Plc, BASF SE, Dow, Liaoning Oxiranchem, Inc., India Glycols Limited, Mitsui Chemicals, Inc., Merck KGaA, Liaoning Kelong Fine Chemical Co., Ltd., Dynalene, Inc., ProChem, Inc International, Noah Technologies Corporation, Mil-Spec Industries Corporation, GFS Chemicals, Inc., Hefei TNJ Chemical Industry Co., Ltd., Clariant, Shanghai Bronkow Chemical Co., Ltd. and Shanghai Taijie Chemical Co., Ltd., among others.
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