Kisha Gulley was once kicked out of a Facebook group for mothers with autistic children after a c...Read More
, /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Polyalkylene Glycols - Global Market Trajectory Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
New Analysis from Global Industry Analysts Reveals Steady Growth for Polyalkylene Glycols, with the Market to Reach $3.5 Billion Worldwide by 2026
Edition: 9; Released: May 2022 Executive Pool: 7197 Companies: 75 - Players covered include Akzo Nobel NV; BASF SE; Clariant AG; Croda International PLC; DowDuPont, Inc.; Exxon Mobil Corporation; Huntsman International LLC; Idemitsu Kosan Co., Ltd.; INEOS Group; Pan Asia Chemical Corporation and Others. Coverage: All major geographies and key segments Segments: Type (Polypropylene Glycol, Polyethylene Glycol, Other Types); Application (Polyurethane Foams, Lubricants, Functional Fluids, Personal Care Products, Pharmaceuticals, Other Applications) Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Amid the COVID-19 crisis, the global market for Polyalkylene Glycols estimated at US$2.4 Billion in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a CAGR of 9.6% over the analysis period. Polypropylene Glycol, one of the segments analyzed in the report, is projected to grow at a 10.3% CAGR, while growth in the Polyethylene Glycol segment is readjusted to a revised 8.9%. The rapidly growing personal care, pharmaceutical, and construction industries especially in emerging economies majorly contributing to growth of polyethylene glycol market. Technological developments, due to the rise in RD investment resulted in the complex engine design advancements, are expected to drive demand for lubricants in Europe and North America in years to come, thus favoring market growth. Furthermore, PAG-based lubricants are highly preferred compared to conventional lubricants because of their environmentally friendly nature, water-solubility, low volatility, energy efficiency, and ease of clean-up. Increased consumption of automotive lubricants and synthetic lubricants worldwide are expected to propel the market growth of polyethylene glycol. The rise in polyurethane (PU) foam demand is also stimulating PAG demand from numerous industries. In addition, polyethylene glycol is utilized in toothpaste as the dispersant, in which polyethylene glycol binds water and assists in keeping the even distribution of xanthan gum all through the toothpaste.
The PAG market is continues to grow due to its superior properties compared to petroleum lubricants and its usage as a surface-active agent and chemical intermediate. Expanding use of PAG in a wide range of applications augurs well for the market. The increasing demand for metalworking fluids, processed food, compressor lubricants, surfactants, and the rise in vehicle production is encouraging the market growth. The expanding scope of product application in pharmaceuticals and personal care industries is also poised to create numerous growth opportunities for the market. By solubility, water-soluble PAGs segment accounted for the major share of the polyalkylene glycols market. Water-soluble PAGs are derived from totally renewable feedstock and they reduce greenhouse gas emissions by nearly 80% in comparison to conventional PAGs. Water-soluble PAGs are biodegradable and possess low toxicity towards the environment in comparison with oil-soluble PAGs. Water-soluble PAG has numerous properties like high shear stability, high thermal stability, low volatility, and high viscosity, which makes water-soluble PAGs suitable for lubrication at high temperature. Water-soluble PAGs are utilized in numerous applications like water-based hydraulic fluid formulations and metalworking fluids, therefore the metalworking fluids' growing demand is propelling the water-soluble PAGs demand.
However, the volatile crude oil prices are represent a major growth restrain for the polyalkylene glycols market. Fluctuating crude oil prices are anticipated to hinder the polyalkylene glycols' overall market growth, as petroleum feedstock-derived products like propylene oxide and ethylene oxide rely on the crude oil prices and supply. Moreover, the high cost of PAGs compared to conventional mineral oils, together with the advent of new alternate compounds present challenges for the PAG market. Additionally, factors like civil unrest during the embargo, Iran disrupted the supply of crude oil, which impact prices of petrochemicals. The availability of substitute products for polyalkylene glycols like PAO or polyalphaoelfin, ionic fluids, and synthetic esters hinders market growth. The substitute products possess chemical properties, viscosity, performance, and temperature range that are similar, which is hindering the market growth of polyalkylene glycol. PAO is extensively utilized in lubricant manufacturing and possesses superior properties like full mineral oil solubility compared to polyalkylene glycol. The rolling wear property of polyalkylene glycol is weak compared to polyalphaolefin, whereas prices of PAO are a little less compared to polyalkylene glycol.
Polyethylene Glycol (PEG) leads the global PAGs market due to its environmental-friendly and high-performance properties. PEG is also a rapidly growing application and is extensively utilized in lubricants. The PEG segment is expected to benefit from the medical and pharma sectors. Polyalkylene glycol companies are opening new opportunities among pharmaceuticals, as the domain is estimated to grow exponentially and is augmenting efficacy among controlled-release products with the assistance of bioresorbable and biodegradable polymers like PEG. Manufacturers are utilizing ultrasound's synergetic effect and PEG to enhance methylene blue drug's dispersion in PEG/polylactide blends. Polymer foams represent the leading application market for PAGs. PU foams are extensively utilized in industrial and civil applications. For instance, PU soft foam is increasingly utilized in furniture making, sports equipment, and car cushions. Moreover, the PU demand is growing for freezers and refrigerators production. The polyalkylene glycol companies are augmenting their production capacity for PP or polypropylene foam manufacturing to cater to the end-user requirements in aerospace and military industries, as well as for daily use. The swiftly expanding packaging sector is leading to the growing polymer foam production. The polyalkylene glycol manufacturers are tapping into new opportunities to augment the PP foam application in the production of shockproof and insulation materials. Furthermore, the manufacturers are investing in RD activities to embrace new foaming methods. PU foam's robust demand has been the key factor impacting PAG demand for the last few years, which is major because of the PU foam's extensive applications in different end-user industries. Polyalkylene glycol manufacturers are extensively embracing sustainable methods in PU foam production. Manufacturers are shifting towards bio-renewable plant oils for the production of PU foams used in the construction industry and to make insulation and footwear materials.
Asia-Pacific represents the largest regional in the global PAG market and is rapidly growing due to increase in demand from India, Japan, and China, the major PAG markets. Product opportunities in pharmaceuticals, personal care, automotive, aerospace, and construction industries in APAC are generating lucrative growth opportunities. Population growth in India and China together with rapid urbanization and industrialization resulted in the construction industry development, boosting the polyalkylene foam demand, in turn propelling the PAG growth. The growing industrial sector and emerging automotive sector in the APAC region are anticipated to boost the polyakylene glycol market growth in APAC. The rise in passenger vehicle production in emerging economies like China and India is encouraging the PAG market. Increasing investments by lubricant manufacturers, too, is augmenting the PAG market growth. IOCL signed an MOU between IndianOil and the Government of Gujarat for investment promotion to set up new LuPech or Petrochemical and Lube Integration Project and Oxo/Acrylics Alcohol Projects in the state of Gujarat. More
MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create publish blogs podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS: Zak Ali Director, Corporate Communications Global Industry Analysts, Inc. Phone: 1-408-528-9966 www.StrategyR.com Email: [email protected]
LINKS Join Our Expert Panel https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter https://twitter.com/marketbytes
Journalists Media [email protected]
SOURCE Global Industry Analysts, Inc.