The Latin America, Middle East and Africa Polyethylene Glycol Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 253.19 Kilo tonnes, showcasing a growth of 6.9% (2023-2030).
The Brazil market dominated the LAMEA Polyethylene Glycol Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $153.1 million by 2030. The Argentina market is registering a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 6.9% during (2023 - 2030).
High molecular weight polyethylene glycols are gaining attention for their unique properties and applications. These larger PEG molecules exhibit increased viscosity, making them suitable for applications requiring thickening and gelling agents. Industries such as cosmetics, personal care, and pharmaceuticals are exploring the benefits of high molecular weight PEGs in formulating products with specific rheological characteristics. High molecular weight polyethylene glycols can act as stabilizers in various formulations, preventing phase separation and maintaining the homogeneity of the product. This is crucial in developing emulsions, suspensions, and other complex formulations.
In addition, the market continues to witness innovations driven by technological advancements, research breakthroughs, and the pursuit of enhanced product performance. These innovations span various industries and contribute to the continuous evolution of PEG applications. PEGylation, the covalent attachment of PEG chains to molecules, has significantly increased. Novel PEGylation techniques are being developed to achieve site-specific conjugation, reducing the potential for immunogenicity and improving the overall pharmacokinetics of PEGylated products. These innovations enhance the therapeutic potential of PEGylated drugs and broaden their applicability in treating various diseases.
Additionally, the UAE's commitment to becoming a regional hub for medical tourism amplifies the importance of advanced medical technologies and formulations. As the healthcare sector embraces cutting-edge treatments and pharmaceutical advancements, PEG emerges as a key ingredient facilitating the development of novel drug formulations and medical applications. As per the report titled Investing in Healthcare in UAE, published by the UAE Ministry of Economy, by 2023, the healthcare sector in the Middle East and North Africa is projected to have grown from $144 billion in 2020 to $243 billion, with Dubai's healthcare sector serving as a pivotal contributor to this expansion. Therefore, increasing growth in the healthcare sector in LAMEA is expected to boost the demand for polyethylene glycol in the region.
Free Valuable Insights: The Worldwide Polyethylene Glycol Market is Projected to reach USD 7 Billion by 2030, at a CAGR of 5.8%
Based on Application, the market is segmented into Medical, Personal Care, Industrial, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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