Global Polyalkylene Glycols Market is valued approximately USD 2.62 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 11.7 % over the forecast period 2021-2027.
Polyalkylene glycols are a variety of propylene oxide and ethylene oxide derivatives built off different initiators, that offers a range of solubility and adhesive properties. This is adopted as a replacement for petroleum lubricant with additional features such as it has lower vapor pressure, higher viscosity index, lower pour point, along with high solvency in contrast to petroleum lubricants. Additionally, increasing demand for industrial lubricants and polyurethane foam, as well as product launches are surging the market demand. For instance, in march 2020, ANI Pharmaceuticals, Inc., declared the introduction of Polyethylene Glycol 3350, 17g/Packet (PEG-3350). As per the IQVIA, the annual market revenue is approximately $21 million. Therefore, these factors are bolstering the polyalkylene glycols across the globe. However, the price of PAGs is comparatively higher than conventional mineral oils which impedes the growth of the market over the forecast period of 2021-2027. Also, the rising adoption of the PAGs across numerous sectors such as pharmaceutical, personal care, etc. is likely to increase the market growth during the forecast period.
The regional analysis of the global Polyalkylene Glycols market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to augmented local manufacturing, and a growing number of domestic players. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising penetration of the PAG lubricants along with the growth of the construction sector would create lucrative growth prospects for the Polyalkylene Glycols market across the Asia-Pacific region.
Major market player included in this report are:
Dow Chemical Company
Idemitsu Kosan Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Surface Active Agents
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Polyalkylene Glycols Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers