“Global Polyethylene Glycol Market to reach a market value of USD 7 Billion by 2030 growing at a CAGR of 5.8%”
The Global Polyethylene Glycol Market size is expected to reach $7 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,519.22 Kilo tonnes, experiencing a growth of 3.2% (2019-2022).
PEG acts as an emollient, which helps soften and smooth the skin or hair. Thus, the Personal Care segment acquired $802.14 million in 2022. PEG functions as a humectant, attracting and retaining moisture. It can contribute to moisture retention in the hair shaft in hair care products. Also, the US market utilized 486.06 kilo tonnes in 2022. This can contribute to the demand for PEG in North America, where sustainability is a growing concern.
In drug delivery systems, PEG is frequently employed to enhance the solubility of poorly soluble drugs in water. This enhancement in solubility can lead to better bioavailability and improved therapeutic efficacy of the drug. Hence, these factors can assist in the growth of the market.
Additionally, PEG’s emulsifying and surfactant properties make it useful in producing emulsions and solutions. It helps in stabilizing mixtures of liquids that would otherwise separate. Hence, these factors can lead to the expansion of the market.
However, meeting regulatory standards demands significant financial investments in research, development, and manufacturing processes. Companies need to allocate substantial resources to ensure their polyethylene glycol products comply with evolving regulatory requirements. Therefore, these factors can limit the expansion of the market.
Based on application, the market is segmented into medical, personal care, industrial, and others. The medical segment acquired 43% revenue share in the market in 2022. PEG is commonly used in the pharmaceutical industry for drug delivery systems.
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 48.4% revenue share in the market in 2022. The growing population and urbanization in the Asia Pacific region contribute to increased demand for products in sectors where polyethylene glycol is commonly used, such as pharmaceuticals, cosmetics, and food.
Free Valuable Insights: Global Polyethylene Glycol Market size to reach USD 7 Billion by 2030
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 4.5 Billion |
| Market size forecast in 2030 | USD 7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.8% from 2023 to 2030 |
| Number of Pages | 185 |
| Number of Table | 350 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Application, Region |
| Country scope |
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| Companies Included | BASF SE, The Dow Chemical Company, LOTTE Chemical Corporation (LOTTE Corp.), INEOS Group Holdings S.A. (INEOS Oligomers), Croda International PLC, India Glycols Limited, Liaoning Oxiranchem Inc., Liaoning Kelong Fine Chemical Co., Ltd., Jiangsu Hai'an Petrochemical Plant, Shanghai Bronkow Chemical Co. Ltd. |
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $7 billion by 2030.
Increasing demand in pharmaceutical and healthcare industries are driving the Market in coming years, however, Regulatory challenges and compliance hurdles restraints the growth of the Market.
BASF SE, The Dow Chemical Company, LOTTE Chemical Corporation (LOTTE Corp.), INEOS Group Holdings S.A. (INEOS Oligomers), Croda International PLC, India Glycols Limited, Liaoning Oxiranchem Inc., Liaoning Kelong Fine Chemical Co., Ltd., Jiangsu Hai'an Petrochemical Plant, Shanghai Bronkow Chemical Co. Ltd.
In the year 2022, the market attained a volume of 2,519.22 Kilo tonnes, experiencing a growth of 3.2% (2019-2022).
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $3,419.6 million by 2030.
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