Dallas, Texas, April 22, 2019 (GLOBE NEWSWIRE) -- Low toxicity, stable dispersion, solvency, and viscosity among other properties makes them ideal for usage across several industry verticals
The global polyethylene glycol market stood at USD 1.50 billion in 2018. Polyethylene glycol finds its applications across varied industry verticals such as pharmaceutical, cosmetics, personal care, industrial among others. Increasing applications of the products in these segments is the key driver of the market over the forecast period.
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The research report on polyethylene glycol market gives a holistic view of the industry from the perspective of the participants across the supply chain. An in-depth assessment of the industry is done using analytical tools such as value chain and Porter’s five forces analysis. The report also highlights ongoing activities that is likely to shape the industry in future. The report also gives a sneak peek of key developments perused by the market players and the competition environment.
Polyethylene glycol is a polyether compound which is formed by the polymerization of ethylene glycol, which then reacts with itself yielding a wide range of polyethylene glycol compounds. These compounds find wide range of application in many industry verticals such as pharmaceutical, food, industrial applications among others. Polyethylene glycol or PEGs are colorless, non-toxic and non-irritating in nature which makes them an ideal solvent in many organic compounds. PEGs are used as solvents, ointments, dispersive agents and laxatives in pharmaceutical industry. They are also used in ointment bases and skin creams owing to their inert nature. Increasing demand for skin care products is projected to boost the demand for polyethylene glycol market over the forecast period.
The “Global Polyethylene Glycol (PEG) Market Size by Application (Medical, Personal Care, Industrial and others) by Region (North America, Europe, Asia Pacific, and RoW) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
By application, the global polyethylene glycol market is segmented into medical, personal care, industrial among others. Medical segment dominated the global polyethylene glycol market with more than 40% of market share in 2018. Growing demand for polyethylene glycol in developing countries such as China, Brazil and India on account of increasing pharmaceutical investments is projected to boost the PEG demand over the forecast period. Also, growing usage of the product as a solvent in the processing of paints & coatings is also projected to fuel the polyethylene glycol market growth over the forecast period.
On the basis of region, the global polyethylene glycol market has been segmented into major geographies such as North America, Europe, Asia Pacific and rest of the world. Asia Pacific dominated the market demand accounting for >USD 600 million in 2019. Increasing healthcare expenditure on account of vast demographic landscape is projected to offer new opportunities for polyethylene glycol market over the forecast period. At the production end, China is the second largest market in pharmaceutical production. Pharmaceutical industry is also regarded as one of the growth driving industry in the Chinese economy, owing to which spending on domestic production has increased over the years. In February 2016, Tianying Petrochemical signed an agreement to set up plant of ethylene glycol in Western China.
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The global polyethylene glycol market is a higly competitive and fragmented market with presence of large number of global and local players. The Dow Chemical Company, BASF SE, Lotte Chemical, INEOS AG, Croda International plc, Liaoning Oxiranchem, India Glycols, Huangma Chemical, Shanghai Bronkow Chemical, and Taijie Chemical are some of the key players in the global polyethylene glycol market. Merger and acquisition is one of the top strategy adopted by the market players to expand their customer base.
Major points from Table of Contents:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Market Outlook
Chapter 4 Global Polyethylene Glycol Market Overview, By Application
Chapter 5 Global Polyethylene Glycol Market Overview, By Region
Chapter 6 Company Profiles
Continued…
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