Rising Demand for Polyethylene Glycol (PEG) Drives Market Growth in Pharmaceuticals and Personal Care
Discover the latest trends driving the Macrogol/Polyethylene Glycol (PEG) market, including its growing use in pharmaceuticals, personal care & applications
VANCOUVER, BC, CANADA, June 20, 2024 /EINPresswire.com/ -- The global macrogol/Polyethylene Glycol (PEG) market1 size was USD 4.90 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.3% during the forecast period. The global market for Macrogol/Polyethylene Glycol (PEG) is experiencing robust growth due to its increasing application in pharmaceuticals, personal care products, and various industrial sectors. This growth is fueled by the rising demand for PEG in drugs and medical devices, as well as its adoption in chemical industries and cancer therapy technologies.
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Market Drivers
The demand for PEG has surged, particularly in the pharmaceutical industry, where it is widely used as a laxative agent and in drug delivery systems. PEG's role as an excipient and surfactant in cosmetics and food products further underscores its versatility and broad application range. The market is also benefiting from technological advancements in medical technology and an increasing number of manufacturers focusing on healthcare products.
Key Developments
On December 1, 2022, INEOS Enterprises completed the acquisition of ASHTA Chemicals Inc., enhancing its production capabilities with 100,000 tonnes of Potassium Hydroxide (KOH) and 65,000 tonnes of chlorine annually. This acquisition aligns with the strategic expansion of PEG production and related chemicals for various end-use markets, including pharmaceuticals and agricultural applications.
Market Challenges
Despite its many advantages, the market faces challenges such as high production costs and competition from alternative materials. Additionally, the trend towards organic therapeutics and natural treatment options for chronic conditions like constipation could potentially limit PEG’s growth in the pharmaceutical sector.
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Segment Insights
Form: The opaque liquid segment leads the market, driven by its popularity in the construction and healthcare industries. Opaque liquids are also gaining traction in the personal care sector, particularly in skin whitening products.
Grade: PEG 3350 is the fastest-growing segment, favored for its application in medicines, paints, and the automotive industry. Its use in treating occasional constipation makes it valuable in producing cosmetics and personal care products.
Application: The medical segment holds a significant market share, thanks to PEG's use in laxatives, drug delivery systems, topical creams, and medical devices. PEG-coated medical devices, such as catheters and implants, benefit from reduced inflammation and infection risks.
End-Use: The chemical segment is expanding rapidly due to PEG's role in producing polymers used in construction, automotive, packaging, and textiles. Its durability and water solubility make it ideal for various industrial applications.
Future Outlook
The global Macrogol/Polyethylene Glycol (PEG) market is poised for continued growth, driven by sustained demand in pharmaceuticals and personal care products. Ongoing research and development efforts are expected to yield new, bio-based, and environmentally friendly PEG variants, further expanding its application scope. Additionally, strategic acquisitions and investments in production capacity are set to enhance market dynamics and drive revenue growth.
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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
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)
Opaque Liquid
White Waxy Solid
Flakes/Powder
Grade Outlook (Revenue, USD Billion; 2019-2032)
Polyethylene Glycol 200
Polyethylene Glycol 300
Polyethylene Glycol 400
Polyethylene Glycol 600
Polyethylene Glycol 1000
Polyethylene Glycol 3350
Polyethylene Glycol 4000
Polyethylene Glycol 6000
Application Outlook (Revenue, USD Billion; 2019-2032)
Medical
Personal Care
Industrial
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Adhesives
Agriculture
Ceramic
Chemicals
Lubricants
Pharmaceuticals
Paints and Coatings
Paper Products
Metal Working
Textiles
Others
Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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