The polyethylene glycol market is expected to grow at a CAGR of 6.2% to reach USD 5.31 billion by 2029 from USD 3.94 billion in 2024. The polyethylene glycol market growth is driven by various factors, including the significant demand from pharmaceutical and personal care industry. The PEG market is driven by increasing demand in various end-use industries like pharmaceutical and personal care. PEG is widely used as solvent, stabilizer, and binder for drug formulations to enhance the solubility and bioavailability of drugs. Moreover, the increasing awareness of product efficacy and safety in cosmetics and skincare products has led to rise in the demand for PEG in personal care industry.
The key global players in the PEG market, such BASF (Germany), Dow (US), Clariant (Switzerland), Lotte Chemical Corporation (South Korea), Sanyo Chemicals Industries Ltd (Japan), Sabic (Saudi Arabia), Kao Corporation (Japan), Croda International Plc (UK), Indian Glycols Limited (India), INEOS (India), Merck KGaA (Germany), Indorama Ventures Public Company Limited (Thailand) and NOF Corporation (Japan) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches, mergers and expansions.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=83158233
BASF
BASF is a leading manufacturer of chemicals globally. The company operates its business through six major business units namely, Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The company provides PEG through its pharma division which is specialized in manufacturing Active Pharmaceutical Ingredients (APIs) and excipients for enhancing drug formulations. The company has strong experience in chemical manufacturing allowing it to produce PEG with consistent quality and consistency. The company is strengthening its supply chain by expanding its production facilities across different regions.
Dow
Dow is one of the leading global manufacturers of chemicals. The company provides a wide range of products and solutions in sectors such as packaging, infrastructure, consumer care, and electronics. It operates majorly through three business segments namely, Performance Materials & Coatings, Industrial Intermediates & Infrastructure and Packaging & Specialty Plastics. The company has strong brand reputation in the market due to its compliance with regulatory standards meeting safety requirements. The company is expanding its global presence by launching sustainable products across different regions. The company is globally present in the markets of North America, Europe, the Middle East, Africa, India, Asia Pacific, and Latin America regions.
Clariant
Clariant is a leading manufacturers of specialty chemicals. It operates primarily through three business segments. Clariant has extensive presence in global market along with production facilities located in Europe, North America, South America, China, and Indian regions. The company focuses of sustainable PEG products making it suitable for environmentally conscious consumers and businesses. Clariant has strengthened its presence in market with the help of product distribution agreement with Azelis for various pharmaceutical products.
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=83158233
Lotte Chemical Corporation
Lotte Chemical Corporation is a leading manufacturer of chemicals globally. The company manufactures a wide range of products, including polymers, specialty chemicals, and synthetic resins, used in various industries such as automotive, construction, and electronics. It operates through four major business segments namely, Basic Chemicals, Advanced Materials, Fine Chemicals and Battery Materials. It offers PEG through its Basic Chemicals business segment. The company has extensive production facilities along with advanced manufacturing technologies. It aligns with key global partners to for a reliable supply of raw materials and to diversify its product portfolio, catering to various industries such as pharmaceuticals, personal care, and industrial applications.
“Pharmaceutical Industry account the largest share in PEG market.”
PEG is widely used as excipient in pharmaceutical industry for drug formulations and drug delivery systems. PEG helps to improve the solubility and stability of active pharmaceutical ingredients which is important in manufacturing of various drugs. In drug delivery systems PEG can enhance the controlled release of medications and reduce the toxicity which is vital for efficient treatment. PEG is also used as a solvent, plasticizer, and binder for manufacturing of tablets, ointments, and capsules. Moreover, its application in ointments, topical creams and laxatives further expand its utility in pharmaceutical industry. Additionally, the widespread growing of chronic diseases such as diabetes and cancer has led to rise in the demand of PEG for drug formulations and delivery systems.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=83158233
“White wax solid is the fastest growing form of PEG during the forecast period, in terms of value.”
White wax solid is the fastest growing form of PEG due to its properties and versatile applications across different industries. This form of PEG is easy to handle particularly in applications that require controlled melting and uniform texture. The white wax solid PEG is used for pharmaceutical applications for producing ointments, creams, and topical formulations. Its ability to stay in solid forms at room temperature makes it ideal for applications which require long shelf life. The moisturizing and binding properties of white wax solid make it especially useful in cosmetics & personal care industry in manufacturing of lotions, creams, and lip balms. Additionally, it is preferred for industrial applications its lubricating and anti-static properties in coatings and plastic processing. Collectively, all these factors drive the market growth for white wax solid form of PEG making it the fastest growing form.
“Asia Pacific is projected to be the fastest growing region of PEG, in terms of value, during the forecast period.”
The Asia Pacific region has rapidly growing pharmaceutical and healthcare industries especially in countries like India and China which drive the market for PEG in drug formulations and delivery systems. With rising consumer awareness and disposable income, there is an increase in the usage of PEG in skin care and beauty products. Additionally, significant investments in healthcare infrastructure and personal care industry further enhance PEG applications, while the government policies support the industrial growth to the region’s rapid market expansion. The ongoing expansions of end use industries along with growing awareness of PEG’s advantages position Asia Pacific as a fastest growing region for PEG market.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/polyethylene-glycol-market-83158233.html
