Global Polyethylene Glycol Market By Grade (Polyethylene Glycol 200, Polyethylene Glycol 300, Polyethylene Glycol 400, Polyethylene Glycol 400 FCC Grade, Polyethylene Glycol 3350, Polyethylene Glycol 4000, Polyethylene Glycol 6000, Others), Form (Opaque Liquid, White Waxy Solid, Flakes/Powder), Application (Healthcare, Building and Construction, Industrial, Cosmetics/Personal Care, Others), Geography (North America, South America, Europe, Asia-Pacific and Middle East & Africa) – Industry Trends & Forecast to 2026
Polyethylene glycol (PEG) is linear synthetic polyether formed by polymerization of ethylene glycol and by reacting with itself gives broad range of polyethylene glycol compounds. It has ability to attach different reactive functional groups to the terminal sites of PEG polymers which expands its characteristics. It has been classified into various grades and categories for various applications by the means of their molecular weights and the average molecular weight of the compound ranges from 200 to 8000. It is highly soluble, hygroscopic, viscous, odourless, non-volatile and stable compound. It is widely used as anti-foaming agent, lubricants, dispersive agents and laxatives. It is applicable for variety of industries such as pharmaceutical, healthcare, building and construction, personal care and cosmetics. It is also used as solubilizer in agriculture, intermediates in paint and coatings industry and in paper industry for softener, humectants, solvents, lubricants. The polyethylene glycol is available in so many variants in the market, giving consumers great flexibility in selection of appropriate variant of glycols exhibiting properties for desired applications. It is highly biocompatible which makes its suitable for manufacturing products suitable human use. Global polyethylene glycol market is projected to register a healthy CAGR of 5.8% in the forecast period of 2019 to 2026.
Segmentation: Global Polyethylene Glycol Market
Global polyethylene glycol market is segmented into three notable segments which are grade, form, and application.
- On the basis of grade, the market is segmented into polyethylene glycol 200, polyethylene glycol 300, polyethylene glycol 400, polyethylene glycol 400 FCC grade, polyethylene glycol 3350, polyethylene glycol 4000, polyethylene glycol 6000 and others.
- In April 2019, Merck KGaA has signed an agreement to acquire Versum Materials so that they can enhance their long term growth in the electronics materials industry. The company has a wide variety of business which will help the customers to get innovative solutions from them. The transaction will also help the shareholders to get long term growth from the company and for the employees as well. This acts as an opportunity to expand their business and increase their market share.
- On the basis of form, the market is segmented into opaque liquid, white waxy solid, and flakes/powder.
- In February 2016, ProChem, Inc. International acquired ChemFree Defoam LLC, who is the only providers of non-organic solutions in the market thereby to control foam manufacturing facilities. This acquisition was mainly done to eliminate processing chemicals reducing processing costs across many industries and accelerate their new chemical systems.
- On the basis of application, the market is segmented into healthcare, building and construction, industrial, cosmetics/personal care and others. Healthcare is sub-segmented into colonoscopy, barium enema preparation and pharmaceuticals. Pharmaceuticals are further segmented into ointments, tablets and others. Building and construction is sub-segmented into ceramic tiles, paints and coatings and others. Cosmetics/personal care is sub-segmented into skin cream, personal lubricants, toothpaste and others.
- In July 2017, Croda International Plc announced the acquisition of Enza Biotech which is a research enterprise based in Sweden. It helped in providing opportunity to fill an identified technological gap in the surfactants market using natural & renewable raw materials. The company is committed to deliver high quality product and solution to its customers.
Competitive Analysis: Global Polyethylene Glycol Market
Some of the major players operating in this market are SABIC, LOTTE Chemical CORPORATION, INEOS, Croda International Plc, BASF SE, Dow, Liaoning Oxiranchem, Inc., India Glycols Limited, Mitsui Chemicals, Inc., Merck KGaA, Liaoning Kelong Fine Chemical Co., Ltd., Dynalene, Inc., ProChem, Inc International, Noah Technologies Corporation, Mil-Spec Industries Corporation, Norq, Clariant, HAPEC, Shanghai Bronkow Chemical Co., Ltd. and Shanghai Taijie Chemical Co., Ltd. Recent Developments:
- In March 2019, INEOS announced the about maximizing the size of its Ethylene Oxide Derivatives (EOD) and Ethylene Oxide (EO) at the U.S. Gulf Coast. It will help in growing the EO merchant market and meeting the growing needs of the customer. By Doubling the capacity of the manufacturing facility will help in giving reliable products and securing company’s position in the market.
- In November 2018, Dow announced expanding a low-capital, high-ROIC investment to increase its production capacity polyethylene glycols. The expansion was made particularly for expanding the capacity of CARBOWAX SENTRY polyethylene glycols. The company made this investment to meet the growing needs of our customers in these high-value markets.
- In May 2017, Lotte Chemical announced the opening of Ethylene Glycol (EG) Production facility near Louisiana, United States. The production facility was made with its joint partner Westlake Chemical Corporation and the project was worth of USD 3.13100 million. The project marked successful investment in the state and it will enhance the value of Westlake's integration strategy.
- In September 2017, Dow to capture first mover advantage, the company announced start-up of Ethylene Production Facility and ELITE Polyethylene Unit in Texas. This start-up will serve as cornerstone in meeting growing demand for flexible packaging through its solution process technology that have unmatched catalyst and co-monomer capability.
- In October 2015, Dynalene Inc. opened a new manufacturing and distribution facility with multiple large scale blending tanks with extra amount of space for bulk storage at Salt Lake City, Utah. This new location would ship and produce the entire line with Dynalene heat transfer fluids which would cut the shipping cost and transit time delivering the products in a shorter span of time period.
Research Methodology: Global Polyethylene Glycol Market
Primary Respondents: Key Industry Participants, Subject-Matter Experts (SMEs), C-level Executives of Key Market Players, Market Intelligence Managers, National Sales Managers and Industry Consultants.