Polyethylene Glycol Market Size, Growth, Report 2023-2032
The global polyethylene glycol market size was estimated at around USD 4,678.73 million in 2022 and it is projected to hit around USD 8,426.44 million by 2032, growing at a CAGR of 6.06% from 2023 to 2032. The polyethylene glycol market in the United States was accounted for USD 688.7 million in 2022.
Key Pointers
Report Scope of the Polyethylene Glycol Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 48.1% |
| Revenue Forecast by 2032 | USD 8,426.44 million |
| Growth rate from 2023 to 2032 | CAGR of 6.06% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | 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 |
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.
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.
Application Insights
Medical application dominated the market with a revenue share of more than 40.02% in 2022. This is attributed to its wide application in dispensing agents, solvents, delivery liquids for medications, ointments, fillers for tablets & suppository bases in ophthalmic solutions, and treating constipation. The emergence of PEG as an alternative to MEG (mono-ethylene glycol) in the pharmaceutical industry on account of its non-toxic nature is expected to have a positive impact on the market.
PEG is also used as a binder for technical ceramics production and as a gas insulator for inducing superconductivity in an electric-double layer transistor. PEGs are also extensively used as thickeners, moisture-carriers, softeners and solvents in cosmetics. However, health and environmental hazards associated with the addition of PEG to personal care products are expected to hamper market growth.
Regional Insights
Asia Pacific region dominated the market with a revenue share of more than 48.1% in 2022. This is attributed to the industrial growth of the pharmaceutical, automotive, and construction sectors in India and China.
North America is expected to witness growth on account of the dominance of the U.S. in the global pharmaceutical industry coupled with growing automotive production in Mexico. The European Commission has framed supportive policies meant at promoting the biopolymer industry. As a result, chemical manufacturers are anticipated to focus on developing bio-based PEG, which is likely to open new market opportunities. Positive downstream oil & gas industry outlook in the Middle East and Brazil is expected to ensure raw material availability for PEG production over the forecast period.
Polyethylene Glycol Market Segmentations:
By Application
By Regional
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Polyethylene Glycol Market
5.1. COVID-19 Landscape: Polyethylene Glycol Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Polyethylene Glycol Market, By Application
8.1.Polyethylene Glycol Market, by Application Type, 2023-2032
8.1.1. Medical
8.1.1.1.Market Revenue and Forecast (2020-2032)
8.1.2. Personal Care
8.1.2.1.Market Revenue and Forecast (2020-2032)
8.1.3. Industrial
8.1.3.1.Market Revenue and Forecast (2020-2032)
8.1.4. Others
8.1.4.1.Market Revenue and Forecast (2020-2032)
Chapter 9. Global Polyethylene Glycol Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Application (2020-2032)
9.1.2. U.S.
9.1.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.1.3. Rest of North America
9.1.3.1. Market Revenue and Forecast, by Application (2020-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.2.2. UK
9.2.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.2.3. Germany
9.2.3.1. Market Revenue and Forecast, by Application (2020-2032)
9.2.4. France
9.2.4.1. Market Revenue and Forecast, by Application (2020-2032)
9.2.5. Rest of Europe
9.2.5.1. Market Revenue and Forecast, by Application (2020-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Application (2020-2032)
9.3.2. India
9.3.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.3.3. China
9.3.3.1. Market Revenue and Forecast, by Application (2020-2032)
9.3.4. Japan
9.3.4.1. Market Revenue and Forecast, by Application (2020-2032)
9.3.5. Rest of APAC
9.3.5.1. Market Revenue and Forecast, by Application (2020-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Application (2020-2032)
9.4.2. GCC
9.4.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.4.3. North Africa
9.4.3.1. Market Revenue and Forecast, by Application (2020-2032)
9.4.4. South Africa
9.4.4.1. Market Revenue and Forecast, by Application (2020-2032)
9.4.5. Rest of MEA
9.4.5.1. Market Revenue and Forecast, by Application (2020-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Application (2020-2032)
9.5.2. Brazil
9.5.2.1. Market Revenue and Forecast, by Application (2020-2032)
9.5.3. Rest of LATAM
9.5.3.1. Market Revenue and Forecast, by Application (2020-2032)
Chapter 10.Company Profiles
10.1. BASF
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2. Dow Chemical Company
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3. LOTTE CHEMICAL
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4. Ineos
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5. Croda
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6. Liaoning Oxiranchem
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7. Liaoning Kelong
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8. Jiangsu Haian Petrochemical Plant
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9. Shanghai Bronkow Chemical
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
10.10. Taijie Chemical
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1. About Us
12.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers