Polyethylene Glycol Market to Receive Overwhelming Hike in Revenues by 2020

Increasing use of PEG as a solvent in the manufacturing of laxatives and eye drops coupled with the growth of pharmaceutical industry is anticipated to drive market. Evolution of waterborne coating and paint in automotive and construction industries owing to growing demand for eco-friendly products is expected to augment PEG market growth.

Global Polyethylene Glycol (PEG) Market is expected to reach USD 1.68 billion by 2020, according to a new study by Grand View Research, Inc.

Medical was the largest application for PEG, accounting for more than 40% of market share in 2013. Superior blending, hygroscopicity and non-toxic properties of PEG have resulted in high demand for the chemical in numerous pharmaceutical products such as tablets and ointments.

Increasing pharmaceutical expenditure, particularly in emerging economies of India, China and Brazil, is expected to boost PEG market over the forecast period. Growing demand for paints & coatings coupled with increasing use of PEG as solvent due to its low VOC emissions is anticipated to fuel market growth over the next six years.

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Global Polyethylene Glycol (PEG) Market demand in industrial applications accounted for less than 30% of volume share in 2013 and is expected to witness growth on account of development in automotive, construction, marine, electronics and aerospace industries. Growing automotive production coupled with increasing construction expenditure, particularly in emerging economies of Asia Pacific, Middle East and Latin America, is anticipated to drive PEG market growth.

Top Players of Polyethylene Glycol (PEG) Market:

Key market participants include BASF SE, The Dow Chemical Company, Ineos, Liaoning Oxiranchem, Jiangsu Haian Petrochemical Plant, India Glycols and Taijie Chemical.

Market Segmentation of Polyethylene Glycol (PEG) Market:

The Global Polyethylene Glycol (PEG) Market Segmented on the basis of Application and Region.

By Application:

    Medical
    Personal Care
    Industrial

By Region:

    North America
    Europe
    Asia Pacific
    RoW

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