Global Polyethylene Glycol Market Size, Share & Trends Analysis Report By Application (Medical, Personal Care, Industrial, and Others), By Regional Outlook and Forecast, 2023 - 2030

Global Polyethylene Glycol Market Size, Share & Trends Analysis Report By Application (Medical, Personal Care, Industrial, and Others), By Regional Outlook and Forecast, 2023 - 2030

The Global Polyethylene Glycol Market size is expected to reach $7 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,519.22 Kilo tonnes, experiencing a growth of 3.2% (2019-2022).

PEG acts as an emollient, which helps soften and smooth the skin or hair. Thus, the Personal Care segment acquired $802.14 million in 2022. PEG functions as a humectant, attracting and retaining moisture. It can contribute to moisture retention in the hair shaft in hair care products. Also, the US market utilized 486.06 kilo tonnes in 2022. This can contribute to the demand for PEG in North America, where sustainability is a growing concern.

In drug delivery systems, PEG is frequently employed to enhance the solubility of poorly soluble drugs in water. This enhancement in solubility can lead to better bioavailability and improved therapeutic efficacy of the drug. Hence, these factors can assist in the growth of the market.

Additionally, PEG’s emulsifying and surfactant properties make it useful in producing emulsions and solutions. It helps in stabilizing mixtures of liquids that would otherwise separate. Hence, these factors can lead to the expansion of the market.

However, meeting regulatory standards demands significant financial investments in research, development, and manufacturing processes. Companies need to allocate substantial resources to ensure their polyethylene glycol products comply with evolving regulatory requirements. Therefore, these factors can limit the expansion of the market.

By Application Analysis

Based on application, the market is segmented into medical, personal care, industrial, and others. The medical segment acquired 43% revenue share in the market in 2022. PEG is commonly used in the pharmaceutical industry for drug delivery systems.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 48.4% revenue share in the market in 2022. The growing population and urbanization in the Asia Pacific region contribute to increased demand for products in sectors where polyethylene glycol is commonly used, such as pharmaceuticals, cosmetics, and food.

List of Key Companies Profiled

• BASF SE
• The Dow Chemical Company
• LOTTE Chemical Corporation (LOTTE Corp.)
• INEOS Group Holdings S.A. (INEOS Oligomers)
• Croda International PLC
• India Glycols Limited
• Liaoning Oxiranchem Inc.
• Liaoning Kelong Fine Chemical Co., Ltd.
• Jiangsu Hai'an Petrochemical Plant
• Shanghai Bronkow Chemical Co. Ltd.

Global Polyethylene Glycol Market Report Segmentation

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Medical
• Personal Care
• Industrial
• Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA