The new report on world polyethylene glycol market is segmented on the basis of end-user industry and geography. In terms of end-user, the market is segmented into medical, personal care, industrial and others. PEG is largely used in various areas of medical industries including solvents, constipation treatments, tablet fillers, ointments, delivery liquid for medications etc. Geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA.
The major companies are adopting product launch as one of the key strategies to maintain their competitiveness in the global market. For instance, in 2014, Dow Chemical has launched CARBOWAX and CARBOWAX SENTRY MW 200 1000 polyethylene glycols. These PEG are water-soluble liquid or solid polymers used in various applications such as adhesives, ceramics, chemical intermediates, paints and coatings, personal care, textiles, and wood treatment, agriculture, lubricants, printing and inks and household products. The key players of the market includes BASF, The Dow Chemical Company, Croda Inc., Ineos, Liaoning Oxiranchem, Jiangsu Haian Petrochemical Plant and India Glycols etc.
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Polyethylene glycol (PEG) is a polyether compound largely used as a solvent, lubricant and solubility agent in various industrial applications. The forms and molecular weight of PEG varies according to the type of initiator used for its polymerization process. Due to its excellent characteristics, such as non-toxicity, hygroscopicity, solubility in the organic solvents, PEG is emerged as a lubricating solution in pharmaceutical applications, such as manufacturing of tablets and ointments. Moreover, increasing acceptance of waterborne coatings and paints in the construction and automotive industry is also expected to boost the demand of PEG as a wear resistant solvent. The construction, pharmaceutical and automotive industries are experiencing a surging growth in Asia Pacific and Latin American region owing to rise in disposable income and rapid urbanization. Therefore, PEG is expected to gain substantial demand from these aforementioned industries, in coming years. However, the stringent environmental regulations associated with manufacturing of pharmaceutical and personal care products, may hinder the market growth.
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KEY MARKET SEGMENTS
Market – By End Use Industry
- Medical
- Personal care
- Industrial
- Others
Market – By Geography
- North America
- Europe
- Asia pacific
- LAMEA
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