H1 2023: in H1 2023, Asia Pacific region was the key consumer of Polyethylene Glycol. In January, prices remained steady, reflecting balanced demand-supply conditions. The trend shifted in February, witnessing a decline attributed to subdued demand and an oversupply of product. Concurrently, cost pressures alleviated as there was an ample supply of feedstock Ethylene Oxide. March 2023 saw reduced consumption rates in the Polyethylene Glycol industries, leading to increased inventory levels in the Asian market. During this period, production costs contracted further due to diminished upstream cost support resulting from decreased offtakes of feedstock Ethylene. April onwards, the market scenario turned bearish in Asia. Initially, supplies were constrained from Middle Eastern exporters, but the situation improved by May 2023. Exporters subsequently reduced prices in May amid decreased cost support from upstream sources and increased operational rates. Concurrently, inventory levels grew due to reduced demand from downstream Building & Construction industries. In May 2023, the decline in feedstock Ethylene costs, contributed to lower production costs of Polyethylene Glycol. By June 2023, production and export rates for PEG remained pessimistic in Asia. However, demand from the pharmaceutical sector was moderately low, with reduced orders from personal care products. In the North American region, the Polyethylene Glycol pricing remained stable till March 2023. Orders from the end-user cosmetic sector were steady, influenced by diminished inventory levels and a moderate supply due to sluggish supply chain activities. However, the Polyethylene Glycol price trend turned bearish in April 2023, experiencing a gradual decline. In May, Exporters then reduced prices due to diminished cost support from upstream sources and increased operational rates. Concurrently, domestic inventory levels increased due to decreased demand from downstream Polyether industries.
The global Polyethylene Glycol market stood at approximately 2750 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 6.30% during the forecast period until 2032.
Polyethylene Glycol (PEG) is a versatile polymer with widespread applications across diverse industries, each benefiting from its unique properties. In the pharmaceutical sector, PEG is integral for drug delivery systems and formulations due to its solubility, biocompatibility, and low toxicity, enhancing drug bioavailability and stability. The cosmetics and personal care industry utilizes PEG in skincare, hair care, and toiletry formulations, where it acts as an emollient, humectant, and thickening agent in products like lotions and shampoos. In the food and beverage industry, PEG serves as an additive, emulsifier, or stabilizer, contributing to the texture and stability of certain products. Industrial processes, including paper manufacturing, and textiles, benefit from PEG as a lubricant, dispersant, and anti-foaming agent. PEG is a crucial component in chemical manufacturing, playing a key role in producing surfactants and polyurethane foam. In biotechnology and life sciences, PEG is employed in processes such as protein crystallization and cell fusion, contributing to biopharmaceutical and diagnostic development. Additionally, the oil and gas industry utilizes PEG for enhanced oil recovery, leveraging its ability to alter fluid viscosity in drilling and extraction processes. Polyethylene glycol (PEG) is frequently incorporated into concrete as a self-curing or shrinkage-reducing agent, serving as a commonly employed chemical admixture. Polyethylene Glycols find application in enhancing the water dispersibility of polyester resins and alkyd resins during formulation. They are also utilized in creating coatings that can be easily removed with water i.e., water-based coatings.
Polyethylene Glycol (PEG) exhibits robust market growth, propelled by its versatile applications across pharmaceuticals, cosmetics, personal care, and industrial processes Over the course of the forecast period, one of the main factors driving the growth of the worldwide Polyethylene Glycol market is the increased usage of PEG as a self-curing agent in concrete which is further used in building & construction sector. Polyethylene Glycol (PEG) finds versatile applications in construction, enhancing material performance. It acts as a water-reducing and plasticizing admixture in concrete, improving workability and durability. PEG functions as a self-curing agent, retaining moisture and reducing concrete cracking. It serves as a shrinkage-reducing agent, minimizing cracks during curing. Additionally, PEG improves grout flow, enhances mortar adhesion and resistance, acts as a waterproofing agent, modifies plaster cohesiveness, and provides surface treatment for enhanced concrete resilience against environmental factors. Also, The expansion of the building and construction sector is also driving increased adoption of water-based paints made using PEG and directly influencing the demand. In the pharmaceutical sector, PEG serves as a foundational element in diverse drug formulations, driven by the aging population, escalating chronic diseases, and advancements in drug delivery technologies. The beauty and personal care industry further amplifies this growth, leveraging PEG's emollient and moisturizing attributes in product formulations, fueled by heightened consumer awareness and evolving grooming trends. Additionally, PEG's role in various industrial processes, acting as a lubricant, solvent, and in adhesive production, positions it as a key player in tandem with economic growth and industrial expansion. Due to these factors, the global Polyethylene Glycol market is anticipated to reach nearly 5000 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Polyethylene Glycol. The Asia Pacific region remains a key consumer of Polyethylene Glycol (PEG) due to a confluence of factors. Rapid industrial and economic growth, particularly in countries like China, India, and Japan, fuels increased demand for PEG across diverse industrial applications, ensuring a persistent market presence. The burgeoning pharmaceutical and healthcare sectors, fuelled by population growth and elevated healthcare standards, sustain demand for PEG in drug formulations and medical applications. Furthermore, a rising middle class and growing consumer spending on personal care products maintain a steady demand for PEG in the cosmetics and personal care industry. The region's robust manufacturing sector utilizes PEG in various industrial processes, including adhesives, sealants, and lubricants, contributing to continuous consumption. The Asia Pacific's large population and ongoing urbanization drive infrastructure development, augmenting PEG usage in construction materials, paints, and coatings. Additionally, the region's pivotal role in global trade, with export-oriented industries, amplifies the demand for PEG in products shipped worldwide. In essence, the Asia Pacific's sustained PEG consumption is grounded in its diverse industrial landscape, expanding healthcare and cosmetic sectors, substantial population, and ongoing economic development.
Based on the end-user industry, the global Polyethylene Glycol market is divided into Building and Construction, Automotive, Medical, Personal Care, and Others. Building and Construction is the major segment and held approximately 32% of the global Polyethylene Glycol market in 2022.
Major players in the Global Polyethylene Glycol market are BASF, Dow Chemical Company, LOTTE CHEMICAL, Ineos, Croda, Liaoning Oxiranchem, Liaoning Kelong, Jiangsu Haian Petrochemical Plant, Shanghai Bronkow Chemical, Taijie Chemical, Huangma Chemical, India Glycols.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polyethylene Glycol which covers production, demand and supply of Polyethylene Glycol market in the globe.
• To analyse and forecast the market size of Polyethylene Glycol
• To classify and forecast Global Polyethylene Glycol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyethylene Glycol market in the globe.
To extract data for Global Polyethylene Glycol market, primary research surveys were conducted with Polyethylene Glycol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyethylene Glycol market over the coming years.
ChemAnalyst calculated Polyethylene Glycol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polyethylene Glycol. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyethylene Glycol manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyethylene Glycol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyethylene Glycol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyethylene Glycol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
2750 thousand tonnes
Market size Volume in 2032
5000 thousand tonnes
Growth Rate
CAGR of 6.3% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Building and Construction, Automotive, Medical, Personal Care, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Polyethylene Glycol market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Polyethylene Glycol.
3. Capacity By Location
To better understand the regional supply of Polyethylene Glycol by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Polyethylene Glycol by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Building and Construction, Automotive, Medical, Personal Care, and Others) are creating a market and the forecast for the growth of the Polyethylene Glycol market.
7. Demand by Region
Analyzing the change in demand of Polyethylene Glycol in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Polyethylene Glycol. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Polyethylene Glycol.
10. Company Share
Figure out what proportion of the market share of Polyethylene Glycol is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Polyethylene Glycol.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Polyethylene Glycol in terms of volume in 2022?
Ans:
The global market size of Polyethylene Glycol had reached approximately 2750 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polyethylene Glycol?
Ans:
Asia Pacific region is the leading consumer of Polyethylene Glycol globally.
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