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) market 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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