The report "Polyethylene Glycol Market by Grade, Form (Liquid, White wax, Flake/Powder), Package Size (Drums, Bulk Container, Glass Bottles), End-Use Industry (Pharmaceutical, Cosmetics & Personal care, Food & Beverage, Industrial) & Region - Global Forecast to 2029", Polyethylene Glycol Market Is Projected to Reach USD 5.31 Billion By 2029, At A CAGR Of 6.2% From USD 3.94 Billion In 2024.
Browse 301 market data Tables and 65 Figures spread through 290 Pages and in-depth TOC on "Polyethylene Glycol Market by Grade, Form (Liquid, White wax, Flake/Powder), Package Size (Drums, Bulk Container, Glass Bottles), End-Use Industry (Pharmaceutical, Cosmetics & Personal care, Food & Beverage, Industrial) & Region - Global Forecast to 2029"
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The PEG market is driven by increasing demand in various end-use industries like pharmaceutical and personal care. PEG is employed as solvent, stabilizer and binder for drug formulations to improve the solubility and year bioavailability of drugs. Moreover, the increasing awareness of product efficacy and safety in cosmetics and skincare products has led to rise in the demand for PEG in personal care industry. The market is driven by growing demand for more biobased polyethylene glycol which companies are looking to replace more of the petroleum based products. The regions with strong industrial base such as North America, the ongoing research and development has helped to increase the use of PEG in products like coatings, lubricants, and other industrial applications. Additionally, the government policies supporting industrial growth contribute to the market growth.
“Pharmaceutical Industry account the largest share in PEG market.”
PEG is versatile as a non-active component in formulation of drugs and drug delivery systems that are used in the pharmaceutical industry. PEG assists in the enhancement of solubility and stability of the Active Pharmaceutical Ingredient focused on in the manufacturing of diverse drugs. In drug delivery systems, PEG can improve the controlled release of intended medications as well as minimize the toxicity which is useful in the treatment. It is also involved in solvent, plasticizer as well as a binder in the production of tablet, ointment and capsules. Besides this, it is also used in ointments, topical solutions and medical laxatives which makes its use even more in the pharmaceutical sector. Furthermore, growing diseases like diabetes and cancer or other chronic diseases increase the use of PEG as a material for formulation and delivery of drugs.
“White wax solid is the fastest growing form of PEG during the forecast period, in terms of value.”
White wax solid is the fastest growing form of PEG due to its properties and versatile applications across different industries. This form of PEG is easy to handle particularly in applications that require controlled melting and uniform texture. The white wax solid PEG is used for pharmaceutical applications for producing ointments, creams, and topical formulations. Its ability to stay in solid forms at room temperature makes it ideal for applications which require long shelf life. The moisturizing and binding properties of white wax solid make it especially useful in cosmetics & personal care industry in manufacturing of lotions, creams, and lip balms. Additionally, white wax solid is also preferred for industrial applications its lubricating and anti-static properties in coatings and plastic processing. These all combine to drive the white wax solid form of PEGs market forward, making it the form with the most growth.
“Asia Pacific is projected to be the fastest growing region of PEG, in terms of value, during the forecast period.”
The Asia Pacific region has rapidly growing pharmaceutical and healthcare industries especially in countries like India and China which drive the market for PEG in drug formulations and delivery systems. Apart from the growth of the healthcare sector, the region’s increasing industrial capacity, especially in chemical and cosmetics and food industries is also the main driving force to its PEG consumption. With rising consumer awareness and disposable income, there is an increase in the usage of PEG in skin care and beauty products. PEG is a major component in many products such as cosmetics, shampoos, lotions, and other products in the care category and this industry has benefited from improved disposable incomes especially from maturing Asian giants like China and India along with South East Asia. Additionally, significant investments in healthcare infrastructure and personal care industry further enhance PEG applications, while the government policies support the industrial growth to the region’s rapid market expansion. The ongoing expansions of end use industries along with growing awareness of PEG’s advantages position Asia Pacific as a fastest growing region for PEG market.
Mergers, new product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the PEG market include BASF (Germany), Dow (US), Clariant (Switzerland), Lotte Chemical Corporation (South Korea), Sanyo Chemicals Industries Ltd (Japan), Sabic (Saudi Arabia), Kao Corporation (Japan), Croda International Plc (UK), Indian Glycols Limited (India), INEOS (India), Merck KGaA (Germany), Indorama Ventures Public Company Limited (Thailand) and NOF Corporation (Japan)
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