Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Polyalkylene Glycols - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Polyalkylene Glycols market, valued at US$2.4 billion in 2022, is projected to experience substantial growth, reaching a projected market size of US$5.2 billion by 2030. This growth is expected to occur at a remarkable Compound Annual Growth Rate (CAGR) of 10.2% during the analysis period from 2022 to 2030.
Among the segments analyzed in the report, the Polypropylene Glycol segment is projected to record a robust 10.8% CAGR, reaching US$3.2 billion by the end of the analysis period. Meanwhile, the Polyethylene Glycol segment is estimated to grow at a CAGR of 9.5% over the next eight years.
U.S. Market Estimated at $454.3 Million, China Forecasted to Grow at 11.6% CAGR
The Polyalkylene Glycols market in the United States is estimated to be valued at US$454.3 million in 2022. China, as the world's second-largest economy, is forecasted to reach a market size of US$2 billion by 2030, experiencing substantial growth with a CAGR of 11.6% from 2022 to 2030. Other notable geographic markets include Japan and Canada, with growth rates projected at 7.7% and 8.7%, respectively, over the 2022-2030 period. Within Europe, Germany is anticipated to grow at an approximate CAGR of 8.8%.
Key Competitors in the Polyalkylene Glycols Market
The report identifies key competitors in the Polyalkylene Glycols market, including BASF SE, Dow Inc., DuPont de Nemours, Inc., Akzo Nobel NV, Evonik Industries AG, Arkema, Inc., Exxon Mobil Corporation, Covestro AG, Emery Oleochemicals Group, Alfa Aesar, Avatar Corporation, Clariant AG, Central Drug House (P) Ltd., Acuro Organics Limited, Celares GmbH, and others.
Economic Outlook and Market Landscape
The global economic outlook is gradually improving, with a forecast of growth recovery in the near term, albeit at a moderate pace. The United States, despite experiencing slowed GDP growth due to tight monetary and financial conditions, has managed to overcome recession threats. Easing headline inflation in the Euro area is contributing to higher real incomes and an uptick in economic activity. China is anticipated to experience robust GDP growth as the pandemic threat recedes, and the government adjusts its policy stance. India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.
However, several challenges persist, including uncertainty related to the Ukraine conflict, slower-than-expected global headline inflation decline, persistent food and fuel inflation in developing countries, and elevated retail inflation affecting consumer confidence and spending. Governments are making efforts to combat inflation through interest rate hikes, which may have an impact on job creation and economic activity. Additionally, a stricter regulatory environment and growing pressure to integrate climate change considerations into economic decisions are adding complexity to the challenges faced.
While corporate investments may be restrained by concerns about inflation and weakened demand, the rise of new technologies such as generative AI, applied AI, industrialized machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies beyond electrification and renewables present opportunities for significant global GDP growth.
What's New in the Report?
- Special discussions on the global economic climate and market sentiment.
- Coverage of global competitiveness and key competitor market shares.
- Market presence analysis across multiple geographies.
- Online interactive peer-to-peer collaborative bespoke updates.
- Access to digital archives and a trademarked research platform.
- Complimentary updates for one year.
- Access to curated YouTube video transcripts featuring insights from CEOs, domain experts, and market influencers through interviews, podcasts, press statements, and event keynotes.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Year 2021 in Review and Near-term Outlook
- Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2021, 2022 and 2023
- COVID-19 Pandemic Impact on Polyalkylene Glycols Market
- An Introduction to Polyalkylene Glycol
- Polyethylene Glycol
- Polypropylene Glycol
- Global Propylene Glycol Capacity Breakdown (in %) by Region for 2022E
- Global Market Prospects & Outlook
- Polyethylene Glycol Leads the Global Market
- Lubricants: A High Growth Application
- Asia-Pacific Spearheads Market Growth
- Competition
- Polyalkylene Glycols - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Surging Demand for Polyurethane Foam to Boost PAG Consumption
- Global Polyurethane Foams Market by End-Use Application (2022E)
- Rising Consumption of Synthetic Lubricants Augurs Well for the Market
- Global Synthetic Lubricants Market Breakdown of Revenue (in %) by Product for 2022 (E)
- Global Synthetic Lubricant Base Stock Consumption Breakdown by Region/Country (in %) for 2022 (E)
- COVID-19 Impact on Lubricants Industry and Effect on Lubricant Basestocks Market
- Auto Industry Demand for Lubricants Supports Market Growth
- World Automobile Production in Million Units: 2008-2022
- How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
- Car Production YoY % Growth in 2020 Across Major Regional Markets
- Demand for PAG as Surface Active Agents Grows
- Processed Foods Industry Spurs Demand for PAG
- Growing Sales of Packaged Foods Present Potential for PAG as Additive: Global Packaged Food Sales in US$ Trillion for 2015, 2017, 2019, 2021 & 2023
- PAG-Based Lubricants Find Favor in Industrial Applications
- Breakdown of World Industrial Lubricants Market Revenues (in %) by Application for 2022E
- Manufacturing PMI: An Important Bellwether
- Global PMI Index Points for the Years 2018, 2019 & 2020
- Use of PAG in Metallurgy Industry Spurs Opportunities
- Polyethylene Glycol Market: High Growth Potential
- Potential for the Use of PEG in Medical Devices and Materials, Pegylation's Application on the Rise
- PEG and the COVID-19 Vaccine-Related Anaphylactic Reactions: A Review
- Increased Application of PEGs in Personal Care Products
- Thiol-ene Reactions Usage to Enhance Hydrogels' Degradability
- Volatile Crude Oil Prices: A Major Challenge
- Global Brent Crude Oil Price Trends (in US$ per barrel) for Oct 2019-May 2021
- Comprehensive Impact Assessment of PAG
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/lkwkjr
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