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Macrogol Polyethylene Glycol Market Size Worth USD 8.98 Billion By 2027 | Emergen Research
Macrogol Polyethylene Glycol Market
Key Market Drivers
The surge in demand for PEG in drugs, medicinal devices, and chemical industries is a primary driver of market revenue growth. The adoption of PEG derivatives in medicinal devices and the increasing use of PEG in cancer therapy technologies further bolster market expansion.
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Market Developments
Recent acquisitions and expansions by key players such as INEOS Enterprises and Clariant signify the industry's growth trajectory. For instance, INEOS Enterprises' acquisition of ASHTA Chemicals Inc. and Clariant's expansion of its Care Chemical facility in China highlight the industry's dynamism and commitment to meeting evolving market demands.
Market Restraints
Despite robust growth prospects, challenges such as high production costs and competition from alternative materials pose constraints to market expansion. Additionally, changing trends toward organic therapeutics and the aging population's demand for natural treatment options impact market dynamics.
Segment Insights
• Form Segment: Opaque liquid emerges as the dominant segment, driven by its extensive use in construction, healthcare, and personal care products.
• Grade Segment: PEG 3350 exhibits steady market growth, fueled by its demand in various industries for manufacturing medicines, paints, and automobiles.
• Application Segment: The medical segment accounts for a significant market share due to the rising adoption of PEG in laxatives, drug deliveries, and medical devices.
• End-User Segment: The chemical segment registers moderate growth, driven by the increasing demand for PEG in polymer production across industries such as construction, automotive, and textiles.
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Future Outlook
The market is poised for continued growth with manufacturers focusing on R&D efforts to develop bio-based and environmentally friendly products. Government support and investments in research further augment market expansion. However, addressing production costs and maintaining competitiveness remain critical for sustained growth.
The global Macrogol/Polyethylene Glycol (PEG) market presents lucrative opportunities for stakeholders across industries, driven by technological advancements and evolving consumer preferences. With strategic initiatives and innovation, the market is poised to thrive in the coming years.
Macrogol Polyethylene Glycol (PEG) Top Companies and Competitive Landscape
The global macrogol/Polyethylene Glycol (PEG) market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective macrogol/Polyethylene Glycol (PEG).
• Dow Chemical Company
• BASF SE
• Chempep Inc.
• INEOS
• Jaiangsu Hai'an Petrochemical Plant
• Croda International Plc
• Liaoning Kelong Fine Chemical Co., Ltd.
• Petroliam Nasional Berhad
• Lotte Chemical corporation
• Hutsman International LLC
• Shangai Taijie Chemical Co., Ltd.
• Shell PLC
• Reliance Industries Limited
• India Glyols Limited
• Liaoning Oxiranchem
• Clariant, AkzoNobel N.V.
• Zhejiang Huangma Chemical
• GFS Chemical Inc.
• Noah Chemicals
• Honghe Chemical
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Macrogol Polyethylene Glycol (PEG) Latest Industry News
• On 21 September, 2023, Dow launched a new line of Propylene Glycol (PG) solutions in Europe that uses low-carbon, bio-based and circular alternative feedstocks. Customers can now deliver finished products to a wide range of industries including pharmaceuticals, agriculture and food, with third-party verified sustainability benefits based on a mass balance approach. This mass balance approach tracks the flow of sustainable raw materials used in PG production through complex value chains and allocates based on auditable accounting.
• On 19 June, 2023, BASF SE announced to start a Polyethylene (PE) plant at its Verbund plant in Zhanjiang, China. The new plant will have an annual production capacity of 500,000 tons of PE, meeting the rising demand in China. The plant is scheduled to start operating in 2025. With this groundbreaking initiative, BASF will enter the China PE market through a competitive manufacturing base of a fully integrated manufacturing site in Zhanjiang City, serving customers in the consumer goods, packaging, construction, and transportation
Macrogol Polyethylene Glycol (PEG) Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global macrogol/Polyethylene Glycol (PEG) market on the basis of form, grade, application, end-use, and region:
• Form Outlook (Revenue, USD Billion; 2019-2032)
o Opaque Liquid
o White Waxy Solid
o Flakes/Powder
• Grade Outlook (Revenue, USD Billion; 2019-2032)
o Polyethylene Glycol 200
o Polyethylene Glycol 300
o Polyethylene Glycol 400
o Polyethylene Glycol 600
o Polyethylene Glycol 1000
o Polyethylene Glycol 3350
o Polyethylene Glycol 4000
o Polyethylene Glycol 6000
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Medical
o Personal Care
o Industrial
o Others
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Adhesives
o Agriculture
o Ceramic
o Chemicals
o Lubricants
o Pharmaceuticals
o Paints and Coatings
o Paper Products
o Metal Working
o Textiles
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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